Small Multi-Family Income
2703 2nd Street Lubbock, TX 79415
New
2703 2nd Street, Lubbock, TX, 79415
$79,000
For Sale
$79,000
MULTI_FAMILY - Lubbock, TX
Property Size704 SF
Lot Size0.14 Acres
Price / SF$112.22
Days on Market2
Property Features for 2703 2nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 1
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 1
- Standard status
- Active
- APN
- R91756
- Size
- 704 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Description
- Parks Blk 19 L 2
- Tax Annual Amount
- 1320
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1947
- Roof type
- Composition
Listing Agency
The 32:18 Management Group
(806) 319-1021
5805 64th Street, Ste 8, Lubbock, TX
Listed by
Chris Carter · License #0817825
(806) 500-5599
Added: Jul 16 Checked: Jul 17 at 10:06 am
MLS# 202609789
Listing URL
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 for-sale multi-family income property is located at 2703 2nd Street in Lubbock, Texas 79415. The offering is listed with a total property size of 704 square feet and sits on a 0.14-acre lot.
The property is categorized as an “other residential income property,” making it suitable for investors or owner-operators looking for a small-scale residential income asset in Lubbock.
Additional details such as unit mix, interior condition, or income/expense information were not provided with the listing materials. Prospective buyers should confirm all property specifications and operating details directly during due diligence.
The property is categorized as an “other residential income property,” making it suitable for investors or owner-operators looking for a small-scale residential income asset in Lubbock.
Additional details such as unit mix, interior condition, or income/expense information were not provided with the listing materials. Prospective buyers should confirm all property specifications and operating details directly during due diligence.
Key Highlights
- Central heating
- Central air conditioning
- Composition roof
Local Financial Insights For Apartment 5plus
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 | $11.1k | $15.72 |
| − Vacancy | −$686 | −$0.97 |
| EGI | $10.4k | $14.75 |
| − OpEx | −$4.7k | −$6.64 |
| NOI | $5.7k | $8.11 |
704 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$81.6K
$71.4K – $95.2K
NOI $5,709 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$177.5K
$155.3K – $207.1K
NOI $12,424 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Residential income property - For sale in Lubbock, TX: small multi-family income property on a 0.14-acre lot.
Where is this residential income property located?
The property is located at 2703 2nd Street Lubbock, TX.
What is the asking price?
The asking price for this property is $79,000.
What are key features of this property?
This property features: Central heating; Central air conditioning; Composition roof
