Updated Duplex with Private
New
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 Market7
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:
Exit Realty Of Lubbock
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 2
Changed: Sep 7
Last Checked: Sep 8 at 5:50AM
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 Exit Realty Of Lubbock
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,160
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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
