2018-Built
For Sale
$175,000
301 36th Street A & B, Lubbock, TX 79404
Two-unit residential income property with both residences currently leased.
Property Size1,500 SF
Price / SF$116.67
Days on Market56
Property Features for 301 36th Street A & B
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi-Family
Additional Details
Average Monthly Rent
$725
Multifamily Units
2
Building Details
Year Built
2018
Listing Agency:
Legendary Dreams Realty, Inc.
Listed By:
Kyle Watts · License #0505515
(806) 239-6441
Source:
Raftercrossrealty
Added: Sep 7
Changed: Oct 25
Last Checked: Nov 1 at 1:30PM
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 Legendary Dreams Realty, Inc.
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Investment Insights
Based on property information with market context.
This 2018-built duplex contains two residences identified as Units A and B, with a combined property size of 1,500 square feet. Both units are currently rented, and their existing lease terms conclude in September and November, respectively.
The property is located at 301 36th Street A & B in Lubbock, Texas 79404. Its two-unit configuration provides a straightforward residential income property format with separate residences under one ownership structure.
The property is located at 301 36th Street A & B in Lubbock, Texas 79404. Its two-unit configuration provides a straightforward residential income property format with separate residences under one ownership structure.
Key Highlights
- Two‑unit duplex with Units A and B
- Built in 2018
- 1,500 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,548
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,960
$271.0K
Cap Rate 7%
$193,543
$193.5K
Cap Rate 9%
$150,533
$150.5K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$20.7K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.4K $12.90/SF
− OpEx
−$5.8K −$3.87/SF
NOI
$13.5K $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%
$270,960
Cap Rate 7%
$193,543
Cap Rate 9%
$150,533
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 15.13%
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
431
Businesses Nearby
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Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
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 - Two-unit residential income property with both residences currently leased.
Where is this duplex located?
The property is located at 301 36th Street A & B Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex with Units A and B; Built in 2018; 1,500 square feet
