Refurbished
For Sale
$179,900
3301 Avenue M, Lubbock, TX 79411
Updated interiors combine fresh paint, ceramic tile flooring, and newer kitchen appliances.
Property Size1,761 SF
Price / SF$102.16
Days on Market117
Property Features for 3301 Avenue M
General Information
Standard status
Active
Size
1,761 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,150
Amenities
new fridge
new dishwasher
new stove
new microwave
ceramic tile floors
metal fence
cold A/C
Building Details
Buildings
1
Listing Agency:
Caprock Realty
(806) 773-1304
Listed By:
Jim Tidwell · License #0559996
(806) 773-1304
Source:
Exprealty
Added: May 8
Changed: Aug 31
Last Checked: Aug 30 at 8:14PM
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 Caprock Realty
Investment Insights
Based on property information with market context.
This duplex at 3301 Avenue M in Lubbock has been recently refurbished with fresh interior paint and updated kitchen appliances. The appliance package includes a refrigerator, dishwasher, range, and microwave. Ceramic tile flooring, metal fencing, and air conditioning add to the property’s functional configuration for residential rental use.
Key Highlights
- Duplex in Lubbock at 3301 Avenue M
- Recently refurbished with fresh paint
- New refrigerator, dishwasher, stove, and microwave
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
$15,906
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
8.84%
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%
$318,120
$318.1K
Cap Rate 7%
$227,229
$227.2K
Cap Rate 9%
$176,733
$176.7K
Market Conditions
NOI Build-Up for 1,761 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
$24.3K $13.80/SF
− Vacancy
−$1.6K −$0.90/SF
EGI
$22.7K $12.90/SF
− OpEx
−$6.8K −$3.87/SF
NOI
$15.9K $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 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%
$318,120
Cap Rate 7%
$227,229
Cap Rate 9%
$176,733
Alternative Uses
Best Use
Multifamily LT 5
$227.2K
$198.8K – $265.1K
NOI $15,906 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$204.0K
$178.5K – $238.0K
NOI $14,282 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,077 @ 7.0% cap · market cap 17.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 79411, TX
7,297
Population
3,474
Households
2.1
Avg Household Size
31
Median Age
22%
College-Educated
72%
High-School Grad
1.5 sq mi
ZIP Area
4,865
Density / Sq Mi
$44,866
Median Household Income
$24,493
Median Earnings
$942
Median Rent
$85,000
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 - Updated interiors combine fresh paint, ceramic tile flooring, and newer kitchen appliances.
Where is this duplex located?
The property is located at 3301 Avenue M Lubbock, TX.
What is the asking price?
The asking price for this property is $179,900.
What are key features of this property?
This property features: Duplex in Lubbock at 3301 Avenue M; Recently refurbished with fresh paint; New refrigerator, dishwasher, stove, and microwave
