Duplex with Brick
For Sale
$285,000
Pending
3203 66th Street, Lubbock, TX 79413
MULTI_FAMILY - Other - Lubbock, TX
Property Size3,111 SF
Lot Size0.26 Acres
Days on Market21
Property Features for 3203 66th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 5, Bathroom 1
Parking features
Garage, Driveway, Open
Window features
Blinds
Patio and Porch features
Porch, Patio
Interior features
Beamed Ceilings, Bookcases, Breakfast Bar, Ceiling Fan(s), Entrance Foyer, Natural Woodwork, Walk-In Closet(s)
Exterior features
Lighting, Private Yard
Fencing
Fenced
Fireplace
1
Appliances
Dishwasher, Disposal, Electric Range
Lot features
Front Yard, Landscaped
Elementary school
Parsons
Middle school
Atkins
High school
Monterey
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
3
Standard status
Pending
APN
R129654
Size
3,111 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
Live Oak L 186 & E20'of 185
Tax Annual Amount
4520
Legal Description
Live Oak L 186 & E20'of 185
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Electric
Building Details
Year built
1970
Floors in Building
1
Number of units
2
Flooring type
Laminate, Vinyl, Carpet, Linoleum
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Lee McClure · License #0699524
(806) 620-9855
Added: Jul 23
Changed: Aug 2
Last Checked: Aug 12 at 1:06PM
MLS# 202610201
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 duplex features two separate units with brick fireplace on both sides. Unit A is a 2-bedroom, 2-bath home with a 2-car garage, while Unit B offers 3 bedrooms and 2 baths with a 2-car garage. Interior details include beamed ceilings, bookcases, a breakfast bar, and walk-in closet(s). Appliances include a dishwasher, disposal, and electric range. Flooring includes laminate, vinyl, carpet, and linoleum. A fenced private yard, porch, and patio help round out the exterior improvements.
The property sits on a 0.26-acre lot with 3,111 square feet total and was built in 1970. It is located at 3203 66th Street in Lubbock, catty-corner from Leftwich Park, less than half a mile from Sun 'n Fun, and about four miles from Texas Tech.
Notable updates include new flooring in Unit B, a roof replacement in 2020, one HVAC replacement in 2021, and the other HVAC replacement in 2025. Unit B is vacant, and Unit A has had the same tenant for 19 years.
The property sits on a 0.26-acre lot with 3,111 square feet total and was built in 1970. It is located at 3203 66th Street in Lubbock, catty-corner from Leftwich Park, less than half a mile from Sun 'n Fun, and about four miles from Texas Tech.
Notable updates include new flooring in Unit B, a roof replacement in 2020, one HVAC replacement in 2021, and the other HVAC replacement in 2025. Unit B is vacant, and Unit A has had the same tenant for 19 years.
Key Highlights
- Unit A: 2 bed, 2 bath, 2‑car garage
- Unit B: 3 bed, 2 bath, 2‑car garage and is vacant
- Brick fireplace on both sides
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
$25,230
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
8.85%
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%
$504,600
$504.6K
Cap Rate 7%
$360,429
$360.4K
Cap Rate 9%
$280,333
$280.3K
Market Conditions
NOI Build-Up for 3,111 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
$48.9K $15.72/SF
− Vacancy
−$3.0K −$0.97/SF
EGI
$45.9K $14.75/SF
− OpEx
−$20.6K −$6.64/SF
NOI
$25.2K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$504,600
Cap Rate 7%
$360,429
Cap Rate 9%
$280,333
Alternative Uses
Best Use
Multifamily LT 5
$401.4K
$351.2K – $468.3K
NOI $28,099 @ 7.0% cap · market cap 9.86%
Second Best
Apartment 5plus
$360.4K
$315.4K – $420.5K
NOI $25,230 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$784.3K
$686.3K – $915.0K
NOI $54,900 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 79413, TX
20,962
Population
9,590
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
4,460
Density / Sq Mi
$67,062
Median Household Income
$38,004
Median Earnings
$1,325
Median Rent
$195,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with brick fireplace; roof replaced in 2020 and Unit B is vacant.
Where is this duplex located?
The property is located at 3203 66th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Unit A: 2 bed, 2 bath, 2‑car garage; Unit B: 3 bed, 2 bath, 2‑car garage and is vacant; Brick fireplace on both sides
