Duplex with Private Fenced
For Sale
$399,000
3824 133rd Street, Lubbock, TX 79423
MULTI_FAMILY - Lubbock, TX
Property Size3,102 SF
Lot Size0.23 Acres
Price / SF$128.63
Days on Market478
Property Features for 3824 133rd Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 6, Bedroom 3
Parking features
Garage, Open
Patio and Porch features
Patio
Interior features
Breakfast Bar, Ceiling Fan(s), Granite Counters, Kitchen Island, Pantry, Storage, Walk-In Closet(s)
Exterior features
Private Yard
Fencing
Fenced
Appliances
Dishwasher, Disposal, Electric Oven, Microwave, Stainless Steel Appliance(s)
Elementary school
Lubbock-Cooper Central
Middle school
Lubbock-Cooper
High school
Liberty High School
Elementary school district
Lubbock-Cooper ISD
Middle school district
Lubbock-Cooper ISD
High school district
Lubbock-Cooper ISD
Subdivision
11
Standard status
Active
APN
R324838
Size
3,102 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
Kelsey Park
Tax Annual Amount
7342
HOA Fee
$450 Annually
Legal Description
Kelsey Park
Utilities
Heating system
Central
Cooling system
Electric, Central Air
Building Details
Year built
2015
Number of units
2
Flooring type
Plank, Vinyl, Carpet
Building materials
Blown-In Insulation, Brick, Masonite, Wood Siding
Roof type
Composition
Additional Structures
Storage
Listing Agency:
AMRR Realty
(806) 642-6488
Listed By:
Jennifer Busbea · License #0614398
(806) 577-7228
Added: May 9, 2025
Changed: Aug 4
Last Checked: Aug 29 at 7:06PM
MLS# 202554385
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.
Investment Insights
Based on property information with market context.
Welcome to 3824 133rd Street, a well-maintained duplex in Kelsey Park. Each side features three spacious bedrooms, two full bathrooms, an open-concept layout with isolated primary suites, and a private fenced backyard. The home includes modern interior touches and practical storage throughout, plus a patio and fenced outdoor space for each unit.
The duplex is built with brick and wood siding and is supported by central heating and central air with electric cooling. Interior features include granite counters, a kitchen island, pantry, breakfast bar, ceiling fans, and walk-in closets. Appliances include a dishwasher, disposal, electric oven, microwave, and stainless steel appliances.
Construction materials include blown-in insulation, and the roof is composition. Parking is available via garage and open spaces. The property is located in Lubbock-Cooper ISD, with access to the Loop and Highway 87, and is minutes from shopping and dining.
The duplex is built with brick and wood siding and is supported by central heating and central air with electric cooling. Interior features include granite counters, a kitchen island, pantry, breakfast bar, ceiling fans, and walk-in closets. Appliances include a dishwasher, disposal, electric oven, microwave, and stainless steel appliances.
Construction materials include blown-in insulation, and the roof is composition. Parking is available via garage and open spaces. The property is located in Lubbock-Cooper ISD, with access to the Loop and Highway 87, and is minutes from shopping and dining.
Key Highlights
- Each side offers three bedrooms and two full bathrooms
- Private fenced backyard plus patio
- Two‑car garage plus open parking
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
$28,018
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
7.02%
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%
$560,360
$560.4K
Cap Rate 7%
$400,257
$400.3K
Cap Rate 9%
$311,311
$311.3K
Market Conditions
NOI Build-Up for 3,102 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
$42.8K $13.80/SF
− Vacancy
−$2.8K −$0.90/SF
EGI
$40.0K $12.90/SF
− OpEx
−$12.0K −$3.87/SF
NOI
$28.0K $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%
$560,360
Cap Rate 7%
$400,257
Cap Rate 9%
$311,311
Alternative Uses
Best Use
Multifamily LT 5
$400.3K
$350.2K – $467.0K
NOI $28,018 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,157 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$782.0K
$684.3K – $912.4K
NOI $54,742 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
118
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
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 - Well-maintained duplex with two-car garages, fenced backyards, and central HVAC built in 2015.
Where is this duplex located?
The property is located at 3824 133rd Street Lubbock, TX.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Each side offers three bedrooms and two full bathrooms; Private fenced backyard plus patio; Two‑car garage plus open parking
