Two-Unit Residential
For Sale
$289,000
2512 81st Street, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size2,502 SF
Lot Size0.18 Acres
Price / SF$115.51
Days on Market55
Property Features for 2512 81st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 4, Bathroom 2, Bathroom 4
Parking features
Garage, Driveway, Open
Window features
Blinds, Double Pane Windows
Patio and Porch features
Porch, Patio
Interior features
Breakfast Bar, Ceiling Fan(s), Entrance Foyer, Pantry, Recessed Lighting, Solid Surface Counters, Walk-In Closet(s)
Exterior features
Private Yard
Fencing
Gate, Fenced
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range, Microwave, Refrigerator
Lot features
Back Yard, City Lot, Front Yard, Landscaped
Elementary school
Waters
Middle school
Evans
High school
Monterey
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Directions
From loop 289, take University south, turn right (west) on 81st st.
Subdivision
7
Standard status
Active
APN
R116899
Size
2,502 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Gatewood L 55
Tax Annual Amount
4279
Legal Description
Gatewood L 55
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Central Air, Ceiling Fan(s)
Water source
Public
Amenities
wood burning fireplace
walk-in closets
laundry room
back patio
yard
kitchen appliances
Building Details
Year built
2008
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Sincerity Real Estate LLC
(432) 413-2821
Listed By:
Tracie Nelson · License #0645141
(888) 519-7431
Added: Aug 20
Changed: Oct 9
Last Checked: Oct 13 at 3:06PM
MLS# 202611706
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.
Built in 2008, this brick duplex contains two matching residences totaling 2,502 square feet on a 0.18-acre lot. Each unit has two bedrooms and two bathrooms, along with a wood-burning fireplace, laundry room, patio, yard, and one-car garage. Kitchen appliances are included, and the property has central heating and air conditioning.
Both units are occupied. The property also features public water and sewer service.
Both units are occupied. The property also features public water and sewer service.
Key Highlights
- Two occupied units, each with 2 bedrooms and 2 bathrooms
- 2,502 square feet of building area on a 0.18‑acre lot
- Built in 2008 with brick construction
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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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Each occupied residence offers two bedrooms, two bathrooms, and a one-car garage.
Where is this duplex located?
The property is located at 2512 81st Street 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 occupied units, each with 2 bedrooms and 2 bathrooms; 2,502 square feet of building area on a 0.18‑acre lot; Built in 2008 with brick construction
