Fully Leased
For Sale
$360,000
Pending
3812 36th St, Lubbock, TX 79413
Two occupied units provide an established residential income property with leases extending into 2027 and 2028.
Property Size2,915 SF
Days on Market67
Property Features for 3812 36th St
General Information
Standard status
Pending
Size
2,915 SF
Property subtype
Multi-Family
Occupancy
100%
Financials
Gross Income
$36,000
Average Monthly Rent
$1,500
Additional Details
Multifamily Units
2
Building Details
Year Built
2023
Tenancy
Multi
Listing Agency:
Reside Real Estate Co
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Aug 26
Changed: Oct 31
Last Checked: Oct 30 at 2:29PM
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 Reside Real Estate Co
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Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two leased residential units and offers 2,915 square feet of building area. Both units are occupied under current lease agreements, supporting ongoing rental operations without a vacant-unit transition at closing.
The property is located at 3812 36th St in Lubbock, Texas. Unit A has a lease extending through June 2027, while Unit B is leased through April 2028, providing staggered contractual occupancy across the two-unit configuration.
The property is located at 3812 36th St in Lubbock, Texas. Unit A has a lease extending through June 2027, while Unit B is leased through April 2028, providing staggered contractual occupancy across the two-unit configuration.
Key Highlights
- Two leased residential units
- 2,915 square feet of building area
- Constructed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,329
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$526,580
$526.6K
Cap Rate 7%
$376,129
$376.1K
Cap Rate 9%
$292,544
$292.5K
Market Conditions
NOI Build-Up for 2,915 SF
Gross rent
$40.2K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$37.6K $12.90/SF
− OpEx
−$11.3K −$3.87/SF
NOI
$26.3K $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%
$526,580
Cap Rate 7%
$376,129
Cap Rate 9%
$292,544
Alternative Uses
Best Use
Multifamily LT 5
$376.1K
$329.1K – $438.8K
NOI $26,329 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$337.7K
$295.5K – $394.0K
NOI $23,640 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$734.9K
$643.0K – $857.4K
NOI $51,442 @ 7.0% cap · market cap 14.29%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units provide an established residential income property with leases extending into 2027 and 2028.
Where is this duplex located?
The property is located at 3812 36th St Lubbock, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two leased residential units; 2,915 square feet of building area; Constructed in 2023
