Two-Unit Duplex with
For Sale
$279,000
3302 29th St, Lubbock, TX 79410
Separate residences include a remodeled rear unit with contemporary finishes and distinct rental layouts.
Property Size1,969 SF
Price / SF$141.70
Days on Market97
Property Features for 3302 29th St
General Information
Standard status
Active
Size
1,969 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1949
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Jul 29
Changed: Nov 1
Last Checked: Nov 1 at 5:53AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This duplex at 3302 29th St includes two separate residences totaling 1,969 square feet. The front residence provides 2 bedrooms, 1 bathroom, and 1,449 square feet, with original hardwood floors adding period character. A remodeled rear studio contributes 1 bedroom, 1 bathroom, and 520 square feet with modern finishes.
Both residences are leased through May 2027, providing established rental occupancy. Built in 1949, the property is located in Lubbock’s Tech Terrace neighborhood and combines an original front-home layout with an updated rear unit. The two-residence configuration supports separate living arrangements on a single property.
Both residences are leased through May 2027, providing established rental occupancy. Built in 1949, the property is located in Lubbock’s Tech Terrace neighborhood and combines an original front-home layout with an updated rear unit. The two-residence configuration supports separate living arrangements on a single property.
Key Highlights
- Two residences totaling 1,969 square feet
- Both units leased through May 2027
- Front residence: 2 bedrooms, 1 bathroom, and 1,449 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,784
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,680
$355.7K
Cap Rate 7%
$254,057
$254.1K
Cap Rate 9%
$197,600
$197.6K
Market Conditions
NOI Build-Up for 1,969 SF
Gross rent
$27.2K $13.80/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$25.4K $12.90/SF
− OpEx
−$7.6K −$3.87/SF
NOI
$17.8K $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%
$355,680
Cap Rate 7%
$254,057
Cap Rate 9%
$197,600
Alternative Uses
Best Use
Multifamily LT 5
$254.1K
$222.3K – $296.4K
NOI $17,784 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$228.1K
$199.6K – $266.1K
NOI $15,968 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,122
Businesses Nearby
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Business Placement
Demographics for 79410, TX
8,615
Population
4,736
Households
1.8
Avg Household Size
29
Median Age
47%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
3,590
Density / Sq Mi
$48,350
Median Household Income
$29,637
Median Earnings
$1,315
Median Rent
$211,300
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 - Separate residences include a remodeled rear unit with contemporary finishes and distinct rental layouts.
Where is this duplex located?
The property is located at 3302 29th St Lubbock, TX.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Two residences totaling 1,969 square feet; Both units leased through May 2027; Front residence: 2 bedrooms, 1 bathroom, and 1,449 square feet
