Three-Unit Residential
3809 36th Street, Lubbock, TX 79413
For Sale
$235,000
Residential Income, Lubbock, TX
Property Size1,630 SF
Lot Size0.17 Acres
Price / SF$144.17
Days on Market145
Property Features for 3809 36th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Coby Crump · License TX #0468085
(806) 789-4600
Added: Jun 19
Changed: Nov 4
Last Checked: Nov 10 at 8:06PM
MLS# 202608540
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.
Built in 2023, this 1,630-square-foot residential property is arranged as a front apartment with two rear room rentals. Each area has its own entrance, while the rear rooms share a bathroom equipped with locking doors for individual privacy. Driveway parking provides on-site vehicle access.
The 0.17-acre property features brick veneer, Masonite, and blown-in insulation, along with a composition roof. Electric heating and cooling are supplemented by ceiling fans. The layout, separate access points, and residential configuration support its classification as a triplex property.
The 0.17-acre property features brick veneer, Masonite, and blown-in insulation, along with a composition roof. Electric heating and cooling are supplemented by ceiling fans. The layout, separate access points, and residential configuration support its classification as a triplex property.
Key Highlights
- 1,630‑square‑foot property on a 0.17‑acre lot
- Built in 2023
- Front apartment plus two rear room rentals
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,722
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,440
$294.4K
Cap Rate 7%
$210,314
$210.3K
Cap Rate 9%
$163,578
$163.6K
Market Conditions
NOI Build-Up for 1,630 SF
Gross rent
$22.5K $13.80/SF
− Vacancy
−$1.5K −$0.90/SF
EGI
$21.0K $12.90/SF
− OpEx
−$6.3K −$3.87/SF
NOI
$14.7K $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%
$294,440
Cap Rate 7%
$210,314
Cap Rate 9%
$163,578
Alternative Uses
Best Use
Multifamily LT 5
$210.3K
$184.0K – $245.4K
NOI $14,722 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,219 @ 7.0% cap · market cap 5.63%
Theoretical Best
Office A
$410.9K
$359.6K – $479.4K
NOI $28,765 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
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Business Placement
Demographics for 79413, TX
20,962
Population
9,590
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
4,460
Density / Sq Mi
$67,062
Median Household Income
$38,004
Median Earnings
$1,325
Median Rent
$195,900
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Lubbock, TX
Properties on Market for Triplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Separate entry points and driveway parking support independent access for the three rental areas.
Where is this triplex located?
The property is located at 3809 36th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,630‑square‑foot property on a 0.17‑acre lot; Built in 2023; Front apartment plus two rear room rentals
