Duplex with Attached
New
For Sale
$415,000
3119 - 3121 74th Street, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size1,627 SF
Lot Size0.06 Acres
Price / SF$255.07
Days on Market1
Property Features for 3119 - 3121 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
Garage
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
7
Standard status
Active
APN
R134442
Size
1,627 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
J F I L 20
Tax Annual Amount
996
Legal Description
J F I L 20
Utilities
Heating system
Natural Gas
Cooling system
Central Air, Electric
Amenities
washer/dryer hookups
private yards
attached garages
Building Details
Year built
2023
Building materials
Brick
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Michael Norsworthy · License #0799136
(214) 709-3095
Added: Oct 7
Last Checked: Oct 7 at 11:06PM
MLS# 202613852
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.
Built in 2023, this brick duplex contains two residences, each with three bedrooms and two bathrooms. The units measure approximately 1,600 square feet apiece and feature open-concept layouts, private yards, washer and dryer hookups, and attached garages. Central air and natural gas heating serve the property.
Both units are leased. The property is located in Lubbock, near schools, parks, and shopping, with access to major roads.
Both units are leased. The property is located in Lubbock, near schools, parks, and shopping, with access to major roads.
Key Highlights
- Two 3‑bedroom, 2‑bath units, each approximately 1,600 square feet
- Both residences are currently leased
- Built in 2023 with brick construction
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.
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
1,525
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences offer three-bedroom layouts, private yards, and washer and dryer hookups.
Where is this duplex located?
The property is located at 3119 - 3121 74th Street 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 3‑bedroom, 2‑bath units, each approximately 1,600 square feet; Both residences are currently leased; Built in 2023 with brick construction
