Duplex with Attached
For Sale
$415,000
3115 - 3117 74th St, Lubbock, TX 79423
Both residences offer three bedrooms, two bathrooms, private yards, and washer and dryer hookups.
Property Size1,627 SF
Price / SF$255.07
Days on Market25
Property Features for 3115 - 3117 74th St
General Information
Standard status
Active
Size
1,627 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,550
Amenities
washer/dryer hookups
private yards
attached garages
Building Details
Year Built
2023
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 2023, this Lubbock duplex comprises two leased residences, each configured with three bedrooms and two bathrooms. Both have open-plan interiors, modern finishes, washer and dryer hookups, private yards, and attached garages.
The property is located at 3115–3117 74th Street in Lubbock, Texas. Both units are currently leased.
The property is located at 3115–3117 74th Street in Lubbock, Texas. Both units are currently leased.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- Built in 2023
- Attached garage for each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,695
Cap Rate
3.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$293,900
$293.9K
Cap Rate 7%
$209,929
$209.9K
Cap Rate 9%
$163,278
$163.3K
Market Conditions
NOI Build-Up for 1,627 SF
Gross rent
$22.5K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.0K $12.90/SF
− OpEx
−$6.3K −$3.87/SF
NOI
$14.7K $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%
$293,900
Cap Rate 7%
$209,929
Cap Rate 9%
$163,278
Alternative Uses
Best Use
Multifamily LT 5
$209.9K
$183.7K – $244.9K
NOI $14,695 @ 7.0% cap · market cap 3.54%
Second Best
Apartment 5plus
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 3.18%
Theoretical Best
Office A
$410.2K
$358.9K – $478.5K
NOI $28,712 @ 7.0% cap · market cap 6.92%
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
1,726
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 - Both residences offer three bedrooms, two bathrooms, private yards, and washer and dryer hookups.
Where is this duplex located?
The property is located at 3115 - 3117 74th St Lubbock, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; Built in 2023; Attached garage for each residence
