Two-Unit Duplex
For Sale
$175,000
326 37th St, Lubbock, TX 79404
Two residences are currently leased, offering an occupied residential income asset in Lubbock.
Property Size1,500 SF
Price / SF$116.67
Days on Market287
Property Features for 326 37th St
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,608
Listing Agency:
Legendary Dreams Realty, Inc.
Listed By:
Kyle Watts · License #0505515
(806) 239-6441
Source:
Exprealty
Added: Jan 21
Changed: Oct 26
Last Checked: Nov 3 at 11:17AM
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 Legendary Dreams Realty, Inc.
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Investment Insights
Based on property information with market context.
This duplex contains two residential units within approximately 1,500 square feet. Units A and B are both currently rented, providing an occupied configuration for a purchaser seeking a residential income property.
The property is located at 326 37th St in Lubbock, Texas. It may also be acquired as part of a package with the duplex units at 215 36th A&B and 217 36th A&B.
The property is located at 326 37th St in Lubbock, Texas. It may also be acquired as part of a package with the duplex units at 215 36th A&B and 217 36th A&B.
Key Highlights
- Two‑unit duplex at 326 37th St, Lubbock, TX
- 1,500 square feet of property size
- Units A and B are both currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,548
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$270,960
$271.0K
Cap Rate 7%
$193,543
$193.5K
Cap Rate 9%
$150,533
$150.5K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$20.7K $13.80/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$19.4K $12.90/SF
− OpEx
−$5.8K −$3.87/SF
NOI
$13.5K $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%
$270,960
Cap Rate 7%
$193,543
Cap Rate 9%
$150,533
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
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Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences are currently leased, offering an occupied residential income asset in Lubbock.
Where is this duplex located?
The property is located at 326 37th St Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two‑unit duplex at 326 37th St, Lubbock, TX; 1,500 square feet of property size; Units A and B are both currently rented
