2506 40th Street Lubbock, TX 79413
MULTI_FAMILY - Lubbock, TX
- Added:
- Jul 11, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 14 at 7:06 am
Property Features for 2506 40th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 1, Bedroom 2
- Parking features
- On Street, Driveway
- Standard status
- Active
- APN
- R125837
- Size
- 1,041 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Description
- Badley Blk 2 L 8
- Tax Annual Amount
- 510
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1950
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Composition
Listing agent Mike Hagler License #0827224 (806) 329-8806
Listing office Brick & Loft Realty 9607 Milwaukee Ave, Lubbock, TX (806) 999-0722
Listing date Jul 11, 2026
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.
According to the current lease agreements, total rent is $1,600. The property is offered for sale.
With both units operating under existing leases, the duplex provides an established, income-producing setup based on the current tenant arrangements through the stated term.
Key Highlights
- 2‑unit residential income property with tenants in place through summer 2026
- Main unit: 2 bed, 1 bath home
- Efficiency unit: 1 bed, 1 bath
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $14.4k | $13.80 |
| − Vacancy | −$934 | −$0.90 |
| EGI | $13.4k | $12.90 |
| − OpEx | −$4.0k | −$3.87 |
| NOI | $9.4k | $9.03 |
