Refurbished
For Sale
$174,900
3301 Avenue M, Lubbock, TX 79411
Updated interiors combine fresh paint, ceramic tile flooring, and newer kitchen appliances.
Property Size1,761 SF
Price / SF$99.32
Days on Market149
Property Features for 3301 Avenue M
General Information
Standard status
Active
Size
1,761 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
new fridge
new dishwasher
new stove
new microwave
ceramic tile floors
metal fence
cold A/C
Building Details
Year Built
2022
Buildings
1
Listing Agency:
Caprock Realty
Listed By:
Jim Tidwell · License #0559996
(806) 773-1304
Source:
Raftercrossrealty
Added: May 28
Changed: Oct 11
Last Checked: Oct 19 at 12:13PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$15,906
Cap Rate
9.09%
Suggested Prices Based on Cap Rates
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
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 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 9.09%
Second Best
Apartment 5plus
$204.0K
$178.5K – $238.0K
NOI $14,282 @ 7.0% cap · market cap 8.17%
Theoretical Best
Office A
$444.0K
$388.5K – $518.0K
NOI $31,077 @ 7.0% cap · market cap 17.77%
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
600
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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 $174,900.
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
