Duplex with Updated
For Sale
$325,000
3110 109th St #A & B, Lubbock, TX 79423
The 3,186-square-foot property contains two units with open layouts and generously sized bedrooms.
Property Size3,186 SF
Price / SF$102.01
Days on Market25
Property Features for 3110 109th St #A & B
General Information
Standard status
Active
Size
3,186 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$32,700
Multifamily Units
2
Building Details
Year Built
2005
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Oct 9
Changed: Nov 1
Last Checked: Nov 1 at 5:31AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
Built in 2005, this duplex at 3110 109th St #A & B in Lubbock contains 3,186 square feet across two units. Each side has an open floor plan, spacious bedrooms, and an oversized primary closet.
Improvements include a roof installed in 2020, a new HVAC system in 2021, and aluminum windows. The exterior work also includes steel-wrapped garage door facings, embossed steel fascia, aluminum porch ceilings, and fencing and gates replaced for Unit B in 2019 and Unit A in 2025.
Improvements include a roof installed in 2020, a new HVAC system in 2021, and aluminum windows. The exterior work also includes steel-wrapped garage door facings, embossed steel fascia, aluminum porch ceilings, and fencing and gates replaced for Unit B in 2019 and Unit A in 2025.
Key Highlights
- Two‑unit duplex totaling 3,186 square feet
- Roof installed in 2020
- New HVAC system installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,776
Cap Rate
8.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,520
$575.5K
Cap Rate 7%
$411,086
$411.1K
Cap Rate 9%
$319,733
$319.7K
Market Conditions
NOI Build-Up for 3,186 SF
Gross rent
$44.0K $13.80/SF
− Vacancy
−$2.9K −$0.90/SF
EGI
$41.1K $12.90/SF
− OpEx
−$12.3K −$3.87/SF
NOI
$28.8K $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%
$575,520
Cap Rate 7%
$411,086
Cap Rate 9%
$319,733
Alternative Uses
Best Use
Multifamily LT 5
$411.1K
$359.7K – $479.6K
NOI $28,776 @ 7.0% cap · market cap 8.85%
Second Best
Apartment 5plus
$369.1K
$323.0K – $430.6K
NOI $25,838 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$803.2K
$702.8K – $937.1K
NOI $56,224 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The 3,186-square-foot property contains two units with open layouts and generously sized bedrooms.
Where is this duplex located?
The property is located at 3110 109th St #A & B Lubbock, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 3,186 square feet; Roof installed in 2020; New HVAC system installed in 2021
