Rented Duplex Investment
For Sale
$180,000
326 37th Street, Lubbock, TX 79404
MULTI_FAMILY - Other - Lubbock, TX
Property Size1,500 SF
Lot Size0.14 Acres
Price / SF$120
Days on Market192
Property Features for 326 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
Security features
Security System
Window features
Blinds, Double Pane Windows
Interior features
Ceiling Fan(s)
Elementary school
Harwell
Middle school
Dunbar College Preparatory Academy
High school
Estacado
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R331070
Size
1,500 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Putty Ross Blk 1 L 20B
Tax Annual Amount
2608
Legal Description
Putty Ross Blk 1 L 20B
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2017
Number of units
2
Flooring type
Laminate
Building materials
Board & Batten Siding
Roof type
Composition
Architectural style
Other
Listing Agency:
Legendary Dreams Realty, Inc.
(806) 239-6441
Listed By:
Kyle Watts · License #0505515
(806) 239-6441
Added: Jan 21
Changed: Jul 18
Last Checked: Aug 1 at 12:06AM
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.
Investment Insights
Based on property information with market context.
This duplex investment property includes two units, labeled A and B, with both units currently rented. The listing indicates Unit A and Unit B are each paying $950 per month. With a compact lot size and a total property size of 1,500 square feet, the building is positioned as a manageable, owner-operator or investor hold.
The property is located at 326 37th Street in Lubbock, Texas 79404, in Lubbock County. The listing also notes the option to purchase as part of a packaged deal that includes two additional units: 215 36th A & B and 217 36th A & B. For buyers seeking to add more homes in a related set, that structure may simplify acquisition.
For investors, the immediate occupancy of both duplex units can be a key consideration when looking for a property already generating rental income. For owner-users, the duplex format supports a two-unit living and renting approach, while still maintaining a clear, single-building scope. Interested parties should contact the listing agent for more information and to confirm details for Units A and B.
The property is located at 326 37th Street in Lubbock, Texas 79404, in Lubbock County. The listing also notes the option to purchase as part of a packaged deal that includes two additional units: 215 36th A & B and 217 36th A & B. For buyers seeking to add more homes in a related set, that structure may simplify acquisition.
For investors, the immediate occupancy of both duplex units can be a key consideration when looking for a property already generating rental income. For owner-users, the duplex format supports a two-unit living and renting approach, while still maintaining a clear, single-building scope. Interested parties should contact the listing agent for more information and to confirm details for Units A and B.
Key Highlights
- 2017‑built property with 2 units (Units A & B) currently rented for $950/month
- Central air cooling with electric heating; ceiling fans included
- Laminate flooring and board & batten siding
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $20.7k | $13.80 |
| − Vacancy | −$1.3k | −$0.90 |
| EGI | $19.4k | $12.90 |
| − OpEx | −$5.8k | −$3.87 |
| NOI | $13.5k | $9.03 |
1,500 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.5K
$169.4K – $225.8K
NOI $13,548 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$173.8K
$152.1K – $202.8K
NOI $12,165 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$378.2K
$330.9K – $441.2K
NOI $26,471 @ 7.0% cap · market cap 14.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
Explore this area
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
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 - Duplex with two units currently rented, offering an income-producing setup for a straightforward ownership experience.
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 $180,000.
What are key features of this property?
This property features: 2017‑built property with 2 units (Units A & B) currently rented for $950/month; Central air cooling with electric heating; ceiling fans included; Laminate flooring and board & batten siding
