Occupied Two-Unit
For Sale
$289,000
2512 81st St, Lubbock, TX 79423
Both residences are occupied and include fireplaces, laundry areas, patios, and kitchen appliances.
Property Size2,502 SF
Price / SF$115.51
Days on Market74
Property Features for 2512 81st St
General Information
Standard status
Active
Size
2,502 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,279
Amenities
wood burning fireplace
walk in closets
laundry room
back patio
spacious yard
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Sincerity Real Estate LLC
Listed By:
Tracie Nelson · License #0645141
(432) 413-2821
Source:
Exprealty
Added: Aug 20
Changed: Oct 25
Last Checked: Nov 1 at 7:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sincerity Real Estate LLC
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Investment Insights
Based on property information with market context.
This 2,502-square-foot duplex contains two identical residences, each configured with two bedrooms and one bathroom. Both units are occupied. Interior features include wood-burning fireplaces, walk-in closets, laundry rooms, and spacious living areas. Kitchen appliances are included with each residence.
The property also offers back patios, yard space, and a 1-car garage. Located at 2512 81st St in Lubbock, Texas, the duplex provides a defined two-unit residential configuration with consistent layouts across both residences.
The property also offers back patios, yard space, and a 1-car garage. Located at 2512 81st St in Lubbock, Texas, the duplex provides a defined two-unit residential configuration with consistent layouts across both residences.
Key Highlights
- Two identical 2‑bedroom, 1‑bath units
- Both units are occupied
- 2,502 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,598
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,960
$452.0K
Cap Rate 7%
$322,829
$322.8K
Cap Rate 9%
$251,089
$251.1K
Market Conditions
NOI Build-Up for 2,502 SF
Gross rent
$34.5K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$32.3K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.6K $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%
$451,960
Cap Rate 7%
$322,829
Cap Rate 9%
$251,089
Alternative Uses
Best Use
Multifamily LT 5
$322.8K
$282.5K – $376.6K
NOI $22,598 @ 7.0% cap · market cap 7.82%
Second Best
Apartment 5plus
$289.9K
$253.6K – $338.2K
NOI $20,291 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$630.8K
$551.9K – $735.9K
NOI $44,153 @ 7.0% cap · market cap 15.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
673
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and include fireplaces, laundry areas, patios, and kitchen appliances.
Where is this duplex located?
The property is located at 2512 81st St Lubbock, TX.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two identical 2‑bedroom, 1‑bath units; Both units are occupied; 2,502 square feet
