Contemporary Duplex with
2509 111th Street, Lubbock, TX 79423
For Sale
$365,000
Residential Income, Lubbock, TX
Property Size2,730 SF
Lot Size0.18 Acres
Price / SF$133.70
Days on Market50
Property Features for 2509 111th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Interior features
Appliances
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Architectural style
Listing Agency:
Veritas Real Estate Company
(806) 853-7355
Listed By:
Andrew Baxter · License #0734273
(214) 926-1236
Added: Sep 18
Changed: Oct 28
Last Checked: Nov 6 at 9:06PM
MLS# 202613102
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.
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Investment Insights
Based on property information with market context.
This contemporary duplex, completed in 2017, contains 2,730 square feet on a 0.18-acre lot. The room inventory includes six bedrooms and four bathrooms. Brick construction, a composition roof, plank and vinyl flooring, beamed ceilings, granite counters, and central heating and cooling define the interior and exterior package. The property also includes a full appliance selection, including washer and dryer equipment.
Parking is provided through a garage, open spaces, and alley access. Public sewer serves the property. Positioned in South Lubbock, the duplex offers access to area schools, shopping, dining, amenities, and major roadways.
Parking is provided through a garage, open spaces, and alley access. Public sewer serves the property. Positioned in South Lubbock, the duplex offers access to area schools, shopping, dining, amenities, and major roadways.
Key Highlights
- Duplex totaling 2,730 square feet on a 0.18‑acre lot
- Built in 2017 with contemporary architectural styling
- Six bedrooms and four bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,658
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,160
$493.2K
Cap Rate 7%
$352,257
$352.3K
Cap Rate 9%
$273,978
$274.0K
Market Conditions
NOI Build-Up for 2,730 SF
Gross rent
$37.7K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$35.2K $12.90/SF
− OpEx
−$10.6K −$3.87/SF
NOI
$24.7K $9.03/SF
Area
Lubbock, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,160
Cap Rate 7%
$352,257
Cap Rate 9%
$273,978
Alternative Uses
Best Use
Multifamily LT 5
$352.3K
$308.2K – $411.0K
NOI $24,658 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.0K
NOI $22,140 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$688.2K
$602.2K – $803.0K
NOI $48,177 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
142
Businesses Nearby
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Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lubbock, TX
Properties on Market for Duplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - 2017 construction combines two residential units with granite counters, central HVAC, and alley-access parking.
Where is this duplex located?
The property is located at 2509 111th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex totaling 2,730 square feet on a 0.18‑acre lot; Built in 2017 with contemporary architectural styling; Six bedrooms and four bathrooms
