Two Single Family Homes
For Sale
$145,000
2444 E 30th Street, Lubbock, TX 79404
Residential Income, Lubbock, TX
Property Size1,420 SF
Lot Size0.15 Acres
Price / SF$102.11
Days on Market474
Property Features for 2444 E 30th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Single Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Parking features
Driveway, Carport
Window features
Wood Frames
Patio and Porch features
Porch
Fencing
Perimeter, Chain Link
Fireplace
1
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R90557
Size
1,420 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Manhattan Hts L 219
Tax Annual Amount
1129
Legal Description
Manhattan Hts L 219
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1962
Floors in Building
1
Flooring type
Laminate, Tile
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Our Texas Real Estate Group
(512) 375-2380
Listed By:
Sandra Davis · License #0697450
(806) 283-5785
Added: May 21, 2025
Changed: Sep 5
Last Checked: Sep 6 at 5:06AM
MLS# 202555339
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This package property deal features two single-family homes, offering a lucrative investment opportunity in a growing real estate market. The combined price for both homes is $167,999. The properties are situated in quiet and coveted areas within their community, presenting an unbeatable offer with limitless potential. One possible use is a mother-in-law suite or home. The property at 2444 E 30th Street, Lubbock, TX 79404, has a property size of 1420 square feet and a lot size of 0.15 acres.
Key Highlights
- Built in 1962 with vinyl siding
- Features 3 bedrooms and 2 bathrooms
- Multiple flooring types including laminate and tile
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,516
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$230,320
$230.3K
Cap Rate 7%
$164,514
$164.5K
Cap Rate 9%
$127,956
$128.0K
Market Conditions
NOI Build-Up for 1,420 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.3K $15.72/SF
− Vacancy
−$1.4K −$0.97/SF
EGI
$20.9K $14.75/SF
− OpEx
−$9.4K −$6.64/SF
NOI
$11.5K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$230,320
Cap Rate 7%
$164,514
Cap Rate 9%
$127,956
Alternative Uses
Best Use
Apartment 5plus
$164.5K
$144.0K – $191.9K
NOI $11,516 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$358.0K
$313.2K – $417.7K
NOI $25,059 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
Explore this area
Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Two single-family homes for sale in Lubbock, Texas.
Where is this single family property located?
The property is located at 2444 E 30th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Built in 1962 with vinyl siding; Features 3 bedrooms and 2 bathrooms; Multiple flooring types including laminate and tile
