Updated Duplex with Private
For Sale
$235,000
3816 44th St, Lubbock, TX 79413
Two leased residences offer separate fenced yards and private one-car garages.
Property Size2,232 SF
Price / SF$105.29
Days on Market62
Property Features for 3816 44th St
General Information
Standard status
Active
Size
2,232 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Amenities
fenced backyard
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 2
Changed: Nov 1
Last Checked: Nov 1 at 5:37AM
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.
Built in 1958, this duplex contains 2,232 square feet across two separate residences. The front unit includes 3 bedrooms and 2 bathrooms, while the rear unit provides 2 bedrooms and 1 bathroom. Both units are tenant-occupied, and each residence has its own fenced backyard and private one-car garage.
The rear residence has received new paint, appliances, and a new bathtub. The property is located on 44th St in Lubbock, Texas, within ZIP code 79413. Its established construction, distinct unit layouts, and separate outdoor and garage areas provide clearly defined residential spaces for the current occupants.
The rear residence has received new paint, appliances, and a new bathtub. The property is located on 44th St in Lubbock, Texas, within ZIP code 79413. Its established construction, distinct unit layouts, and separate outdoor and garage areas provide clearly defined residential spaces for the current occupants.
Key Highlights
- 2,232‑square‑foot duplex built in 1958
- Front unit: 3 bedrooms and 2 bathrooms
- Rear unit: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,160
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$403,200
$403.2K
Cap Rate 7%
$288,000
$288.0K
Cap Rate 9%
$224,000
$224.0K
Market Conditions
NOI Build-Up for 2,232 SF
Gross rent
$30.8K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.8K $12.90/SF
− OpEx
−$8.6K −$3.87/SF
NOI
$20.2K $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%
$403,200
Cap Rate 7%
$288,000
Cap Rate 9%
$224,000
Alternative Uses
Best Use
Multifamily LT 5
$288.0K
$252.0K – $336.0K
NOI $20,160 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$258.6K
$226.3K – $301.7K
NOI $18,101 @ 7.0% cap · market cap 7.70%
Theoretical Best
Office A
$562.7K
$492.4K – $656.5K
NOI $39,389 @ 7.0% cap · market cap 16.76%
Zoning and permitted uses should be independently verified with authorities.
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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
584
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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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 leased residences offer separate fenced yards and private one-car garages.
Where is this duplex located?
The property is located at 3816 44th St 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: 2,232‑square‑foot duplex built in 1958; Front unit: 3 bedrooms and 2 bathrooms; Rear unit: 2 bedrooms and 1 bathroom
