Two-Unit Duplex with Central
326 37th Street, Lubbock, TX 79404
For Sale
$175,000
Residential Income, Lubbock, TX
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$116.67
Days on Market294
Property Features for 326 37th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
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Security features
Window features
Interior features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Building Details
Year built
Number of units
Flooring type
Building materials
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Architectural style
Listing Agency:
Legendary Dreams Realty, Inc.
Listed By:
Kyle Watts · License TX #0505515
(806) 239-6441
Added: Jan 21
Changed: Oct 31
Last Checked: Nov 10 at 8:06PM
MLS# 202601280
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.
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Investment Insights
Based on property information with market context.
This 2017-built duplex contains 1,500 square feet on a 0.14-acre lot, with Units A and B both currently rented. The interior includes three bedrooms, two bathrooms, laminate flooring, ceiling fans, and central electric heating and cooling. Board and batten siding and a composition roof complete the exterior construction.
The property is served by public water and public sewer, with cable available. Located at 326 37th Street in Lubbock, the duplex offers a compact residential income configuration with established occupancy and straightforward utility service.
The property is served by public water and public sewer, with cable available. Located at 326 37th Street in Lubbock, the duplex offers a compact residential income configuration with established occupancy and straightforward utility service.
Key Highlights
- Two‑unit duplex with Units A and B both currently rented
- 1,500 square feet on a 0.14‑acre lot
- Built in 2017 with board and batten siding
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.
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Lease Details
2
Residential units
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
$86,300
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lubbock, TX
Properties on Market for Duplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two currently rented units with laminate flooring, public utilities, and central heating and cooling.
Where is this duplex located?
The property is located at 326 37th Street 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 with Units A and B both currently rented; 1,500 square feet on a 0.14‑acre lot; Built in 2017 with board and batten siding
