Turnkey Duplex
2513 111th Street Lubbock, TX 79423
For Sale
$349,000
MULTI_FAMILY - Lubbock, TX
Property Size2,592 SF
Lot Size0.17 Acres
Price / SF$134.65
Days on Market61
Property Features for 2513 111th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5
- Parking features
- Garage
- Interior features
- Beamed Ceilings, Built-in Features, Eat-in Kitchen, High Ceilings, Pantry, Walk-In Closet(s)
- Fencing
- Fenced
- Standard status
- Active
- APN
- R325610
- Size
- 2,592 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Cooper Meadow L 20
- Tax Annual Amount
- 6488
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2018
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Carpet, Vinyl
- Building materials
- Brick, Vinyl Siding
- Roof type
- Composition
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Maelyn Lykins · License #0831064
(210) 291-8030
Added: May 25
Changed: Jul 18
Last Checked: Jul 24 at 5:06PM
MLS# 202607496
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 turnkey duplex offers two spacious, independently configured units. Each unit features three bedrooms and two bathrooms along with a one-car garage. Interior highlights include open-concept layouts, granite countertops, and luxury vinyl plank flooring. Outside, the property is set up for low-maintenance living with low-maintenance landscaping.
The property is located in South Lubbock and falls within Cooper ISD. It is professionally managed, which can be an advantage for investors seeking a quality asset with operational support in place.
With two rented units and a layout designed for day-to-day comfort, the duplex is a solid fit for investors looking to add to an existing portfolio or purchase their first duplex investment. The combination of maintained finishes, practical unit design, and professional management makes it well-suited for buyers who want a turnkey option rather than a property requiring significant immediate work.
The property is located in South Lubbock and falls within Cooper ISD. It is professionally managed, which can be an advantage for investors seeking a quality asset with operational support in place.
With two rented units and a layout designed for day-to-day comfort, the duplex is a solid fit for investors looking to add to an existing portfolio or purchase their first duplex investment. The combination of maintained finishes, practical unit design, and professional management makes it well-suited for buyers who want a turnkey option rather than a property requiring significant immediate work.
Key Highlights
- 2018‑built duplex with two units in South Lubbock, each offering 3 bedrooms and 2 bathrooms
- Each unit includes a 1‑car garage and an open‑concept floorplan
- Kitchen features include granite countertops, pantry, and eat‑in kitchen area
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 | $35.8k | $13.80 |
| − Vacancy | −$2.3k | −$0.90 |
| EGI | $33.4k | $12.90 |
| − OpEx | −$10.0k | −$3.87 |
| NOI | $23.4k | $9.03 |
2,592 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.4K
$292.6K – $390.2K
NOI $23,411 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$300.3K
$262.8K – $350.4K
NOI $21,021 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$653.5K
$571.8K – $762.4K
NOI $45,742 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained duplex with two income-producing units in Cooper ISD, professionally managed for a turnkey investment.
Where is this duplex located?
The property is located at 2513 111th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2018‑built duplex with two units in South Lubbock, each offering 3 bedrooms and 2 bathrooms; Each unit includes a 1‑car garage and an open‑concept floorplan; Kitchen features include granite countertops, pantry, and eat‑in kitchen area
