New Construction
2912 Duke St, Lubbock, TX 79415
For Sale
$265,000
Brand new duplex with two 3-bedroom, 1-bath units featuring vinyl plank flooring and granite countertops.
Property Size2,200 SF
Price / SF$120.45
Days on Market107
Property Features for 2912 Duke St
General Information
Standard status
Size
Property subtype
Additional Details
Business Included
Multifamily Units
Building Details
Year Built
Listing Agency:
Realty Refined
Listed By:
Andrew Keaton · License TX #0716753
(806) 620-9309
Source:
Raftercrossrealty
Added: Jul 27
Changed: Oct 26
Last Checked: Nov 10 at 11:10AM
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 Realty Refined
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Investment Insights
Based on property information with market context.
A brand new construction duplex offering two separate units. Each unit is laid out with 3 bedrooms and 1 bathroom and includes approximately 1,100 square feet of living space. Interiors feature vinyl plank flooring and granite countertops.
The property is located at 2912 Duke St in Lubbock, Texas, just minutes from Texas Tech and the Medical District. The seller would like to sell this duplex as part of a package with the next door duplex at 2914 Duke St.
The property is located at 2912 Duke St in Lubbock, Texas, just minutes from Texas Tech and the Medical District. The seller would like to sell this duplex as part of a package with the next door duplex at 2914 Duke St.
Key Highlights
- Brand new duplex built in 2024 with two 3‑bedroom, 1‑bath units
- Each unit offers 1,100 SF of living space
- Vinyl plank flooring throughout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,871
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$397,420
$397.4K
Cap Rate 7%
$283,871
$283.9K
Cap Rate 9%
$220,789
$220.8K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$30.4K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.4K $12.90/SF
− OpEx
−$8.5K −$3.87/SF
NOI
$19.9K $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%
$397,420
Cap Rate 7%
$283,871
Cap Rate 9%
$220,789
Alternative Uses
Best Use
Multifamily LT 5
$283.9K
$248.4K – $331.2K
NOI $19,871 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$254.9K
$223.0K – $297.4K
NOI $17,842 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$554.6K
$485.3K – $647.1K
NOI $38,824 @ 7.0% cap · market cap 14.65%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
246
Businesses Nearby
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Business Placement
Demographics for 79415, TX
17,499
Population
7,225
Households
2.4
Avg Household Size
30
Median Age
26%
College-Educated
77%
High-School Grad
67.8 sq mi
ZIP Area
258
Density / Sq Mi
$37,101
Median Household Income
$25,506
Median Earnings
$956
Median Rent
$94,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Brand new duplex with two 3-bedroom, 1-bath units featuring vinyl plank flooring and granite countertops.
Where is this duplex located?
The property is located at 2912 Duke St Lubbock, TX.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Brand new duplex built in 2024 with two 3‑bedroom, 1‑bath units; Each unit offers 1,100 SF of living space; Vinyl plank flooring throughout
