2-Unit Duplex with
For Sale
$275,000
3309 74th Street, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size2,825 SF
Lot Size0.18 Acres
Price / SF$97.35
Days on Market145
Property Features for 3309 74th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking features
Driveway, Alley, Open, Garage
Window features
Blinds
Patio and Porch features
Porch
Interior features
Bar, Ceiling Fan(s), Formica Counters, Primary Downstairs, Vaulted Ceiling(s), Wet Bar
Exterior features
Balcony
Fencing
Fenced
Fireplace
1
Appliances
Microwave, Refrigerator
Lot features
Back Yard, Front Yard
Elementary school
Waters
Middle school
Evans
High school
Monterey
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
7
Standard status
Active
APN
R125645
Size
2,825 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Melonie Gardens W54.51' Of L 27 & E19.62' Of 28
Tax Annual Amount
4040
Legal Description
Melonie Gardens W54.51' Of L 27 & E19.62' Of 28
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Amenities
fireplace
vaulted ceiling
loft
fenced backyard
wet bar
private balcony
walk-in closet
mature trees
Building Details
Year built
1978
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Thrive Real Estate
(806) 243-9560
Listed By:
Dana Brown · License #0640988
(806) 831-3499
Added: Jun 15
Changed: Nov 2
Last Checked: Nov 6 at 10:06AM
MLS# 202608188
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.
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Investment Insights
Based on property information with market context.
This 2,825-square-foot duplex in Lubbock contains two mirrored residences, each with 2 bedrooms and 2 bathrooms. Built in 1978, the brick property features vaulted ceilings, a fireplace, a loft overlooking the living area, and a wet bar. Each unit also has a step-up dining area, a fenced backyard, and a private balcony off the upstairs bedroom. A two-car garage serves each side.
Both units are leased. Unit A has a lease term through January 2027. The property sits on a 0.18-acre lot and includes central heating and air conditioning, a porch, and public water and sewer.
Both units are leased. Unit A has a lease term through January 2027. The property sits on a 0.18-acre lot and includes central heating and air conditioning, a porch, and public water and sewer.
Key Highlights
- Two mirrored units, each with 2 bedrooms and 2 bathrooms
- 2,825 square feet on a 0.18‑acre lot
- Built in 1978 with brick construction, vaulted ceilings and a fireplace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,911
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,220
$458.2K
Cap Rate 7%
$327,300
$327.3K
Cap Rate 9%
$254,567
$254.6K
Market Conditions
NOI Build-Up for 2,825 SF
Gross rent
$44.4K $15.72/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$41.7K $14.75/SF
− OpEx
−$18.7K −$6.64/SF
NOI
$22.9K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$458,220
Cap Rate 7%
$327,300
Cap Rate 9%
$254,567
Alternative Uses
Best Use
Multifamily LT 5
$364.5K
$319.0K – $425.3K
NOI $25,516 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$327.3K
$286.4K – $381.9K
NOI $22,911 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$712.2K
$623.2K – $830.9K
NOI $49,853 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
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 - Both leased residences offer separate garages, loft space and private outdoor areas.
Where is this duplex located?
The property is located at 3309 74th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two mirrored units, each with 2 bedrooms and 2 bathrooms; 2,825 square feet on a 0.18‑acre lot; Built in 1978 with brick construction, vaulted ceilings and a fireplace
