Occupied Duplex with Two-Car
For Sale
$299,000
Pending
3102 110th Street, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size2,357 SF
Lot Size0.17 Acres
Days on Market162
Property Features for 3102 110th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 2
Parking features
Garage
Window features
Blinds
Patio and Porch features
Porch
Exterior features
Private Yard
Fireplace
1
Appliances
Electric Range
Lot features
Back Yard, Cul-De-Sac
Elementary school
Lubbock-Cooper North
Middle school
Lubbock-Cooper Bush
High school
Cooper
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
7
Standard status
Pending
APN
R173602
Size
2,357 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Cooper Stone L 52
Tax Annual Amount
5365
Legal Description
Cooper Stone L 52
Utilities
Heating system
Central, Fireplace(s)
Cooling system
Ceiling Fan(s), Central Air
Amenities
fireplace
Building Details
Year built
2003
Floors in Building
1
Number of units
1
Flooring type
Tile - Ceramic, Carpet
Building materials
Brick
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Berkshire Hathaway HomeService
(806) 687-7700
Listed By:
Malgorzata Surowiec · License #0697937
(806) 252-4451
Added: Apr 18
Changed: Sep 22
Last Checked: Sep 26 at 5:06PM
MLS# 202605967
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 contemporary duplex contains 2,357 square feet on a 0.17-acre corner parcel in Lubbock. Built in 2003, the brick property provides six bedrooms and four bathrooms across two residences. Each unit includes an open-concept living arrangement, a fireplace, and a 2-car garage. Side B has new flooring, while ceramic tile and carpet are used throughout the property. Central heating, central air, ceiling fans, an electric range, porches, and private yard areas add to the existing improvements.
The property is positioned on a corner lot within a quiet cul-de-sac at 3102 110th Street, between Indiana Avenue and Flint Avenue. Both units are occupied, and the location is near shopping, dining, everyday services, and Lubbock-Cooper North Elementary. The property has no HOA and includes composition roofing and garage parking.
The property is positioned on a corner lot within a quiet cul-de-sac at 3102 110th Street, between Indiana Avenue and Flint Avenue. Both units are occupied, and the location is near shopping, dining, everyday services, and Lubbock-Cooper North Elementary. The property has no HOA and includes composition roofing and garage parking.
Key Highlights
- Two‑unit duplex with 2,357 square feet on a 0.17‑acre lot
- Both units are currently occupied
- Each residence includes an open layout, fireplace, and 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,289
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,780
$425.8K
Cap Rate 7%
$304,129
$304.1K
Cap Rate 9%
$236,544
$236.5K
Market Conditions
NOI Build-Up for 2,357 SF
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.
Gross rent
$32.5K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$30.4K $12.90/SF
− OpEx
−$9.1K −$3.87/SF
NOI
$21.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$425,780
Cap Rate 7%
$304,129
Cap Rate 9%
$236,544
Alternative Uses
Best Use
Multifamily LT 5
$304.1K
$266.1K – $354.8K
NOI $21,289 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$273.1K
$238.9K – $318.6K
NOI $19,115 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$594.2K
$519.9K – $693.2K
NOI $41,594 @ 7.0% cap · market cap 13.91%
Zoning and permitted uses should be independently verified with authorities.
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
188
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 - Both residences offer open layouts, fireplaces, private outdoor space, and current occupancy.
Where is this duplex located?
The property is located at 3102 110th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,357 square feet on a 0.17‑acre lot; Both units are currently occupied; Each residence includes an open layout, fireplace, and 2‑car garage
