Two-Unit Residential Income
New
For Sale
$289,000
3302 29th Street, Lubbock, TX 79410
MULTI_FAMILY - Lubbock, TX
Property Size1,969 SF
Lot Size0.18 Acres
Price / SF$146.78
Days on Market5
Property Features for 3302 29th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3
Parking features
Driveway, Off Street
Patio and Porch features
Porch
Interior features
Bookcases, Ceiling Fan(s)
Exterior features
Private Yard
Fencing
Privacy
Appliances
Dishwasher, Electric Cooktop, Electric Oven
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
3
Standard status
Active
APN
R79678
Size
1,969 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Westridge Blk 11 L 20
Tax Annual Amount
3220
Legal Description
Westridge Blk 11 L 20
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
1949
Number of units
2
Flooring type
Plank, Hardwood, Vinyl
Building materials
Vinyl Siding
Roof type
Composition
Additional Structures
Residence
Listing Agency:
Real Broker, LLC
(806) 577-5595
Listed By:
Doug Duncan · License #0563978
(806) 577-5595
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 31 at 5:06AM
MLS# 202610400
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 two-unit residential income property features two separate, income-producing residences on one lot. The front home offers 2 bedrooms and 1 bathroom with 1,449 square feet and includes original hardwood floors. The rear residence is described as a remodeled studio with 1 bedroom and 1 bathroom, providing an additional 520 square feet and modern finishes.
Both units are currently leased through May 2027, supporting immediate rental stability.
The property is listed for sale at 3302 29th Street in Lubbock, TX 79410.
Both units are currently leased through May 2027, supporting immediate rental stability.
The property is listed for sale at 3302 29th Street in Lubbock, TX 79410.
Key Highlights
- Two income‑producing residences on one property: front 2BR/1BA and remodeled rear 1BR/1BA studio
- Front home includes 1,449 SF with original hardwood floors
- Rear studio adds 520 SF with 1BR and 1BA
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 | $27.2k | $13.80 |
| − Vacancy | −$1.8k | −$0.90 |
| EGI | $25.4k | $12.90 |
| − OpEx | −$7.6k | −$3.87 |
| NOI | $17.8k | $9.03 |
1,969 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$254.1K
$222.3K – $296.4K
NOI $17,784 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$228.1K
$199.6K – $266.1K
NOI $15,968 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$496.4K
$434.3K – $579.1K
NOI $34,747 @ 7.0% cap · market cap 12.02%
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
1,122
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - One property with two leased residences, including a front 2/1 home with hardwood floors and a remodeled rear unit.
Where is this duplex located?
The property is located at 3302 29th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Two income‑producing residences on one property: front 2BR/1BA and remodeled rear 1BR/1BA studio; Front home includes 1,449 SF with original hardwood floors; Rear studio adds 520 SF with 1BR and 1BA
