Duplex with Updated
For Sale
$174,900
3301 Avenue M, Lubbock, TX 79411
Residential Income, Lubbock, TX
Property Size1,761 SF
Lot Size0.16 Acres
Price / SF$99.32
Days on Market149
Property Features for 3301 Avenue M
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 1
Parking features
Driveway
Window features
Screens, Double Pane Windows
Interior features
Granite Counters
Appliances
Dishwasher, Disposal, Electric Oven, Microwave, Refrigerator, Stainless Steel Appliance(s)
Lot features
Back Yard
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R86527
Size
1,761 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
Summer Hill Blk 6 L 7
Tax Annual Amount
3150
Legal Description
Summer Hill Blk 6 L 7
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
new fridge
new dishwasher
new stove
new microwave
Ceramic tile floors
metal fence
cold A/C
Building Details
Year built
2022
Number of units
2
Flooring type
Tile - Ceramic
Building materials
Wood Siding
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Caprock Realty
Listed By:
Jim Tidwell · License #0559996
(806) 773-1304
Added: May 8
Changed: Oct 2
Last Checked: Oct 3 at 6:06AM
MLS# 202606140
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.
Built in 2022, this duplex contains 1,761 square feet on a 0.16-acre lot. The property includes six bedrooms and four bathrooms, with a ranch-style design, wood siding, composition roofing, and ceramic tile flooring. Granite counters and a recently updated appliance package add practical interior improvements, including a refrigerator, dishwasher, disposal, electric oven, microwave, and stainless steel appliances.
Central heating and central air provide year-round climate control. Additional property features include driveway parking and a public water supply. The duplex is located at 3301 Avenue M in Lubbock, Texas 79411.
Central heating and central air provide year-round climate control. Additional property features include driveway parking and a public water supply. The duplex is located at 3301 Avenue M in Lubbock, Texas 79411.
Key Highlights
- Duplex built in 2022
- 1,761 square feet on a 0.16‑acre lot
- Six bedrooms and four bathrooms
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
9.09%
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 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.
Property Analytics
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with refreshed interiors, granite counters, ceramic tile, central HVAC, and driveway parking.
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 built in 2022; 1,761 square feet on a 0.16‑acre lot; Six bedrooms and four bathrooms
