Two-Unit Duplex with
New
For Sale
$235,000
406 N Zenith Avenue # A&b, Lubbock, TX 79403
Each residence combines an open living area with an upstairs laundry room.
Property Size2,176 SF
Price / SF$107
Days on Market4
Property Features for 406 N Zenith Avenue # A&b
General Information
Standard status
Active
Size
2,176 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$4,424
Amenities
Vinyl
Yes
4
No
6
Public Records
Granite Counters,Open Floorplan
2176.0
Back Yard
Public
0.19
Attached,Driveway,Garage
Paved
Private Yard
Slab
City Street
Building Details
Building Size
2,176 SF
Year Built
2023
Buildings
1
Listing Agency:
(806) 319-5090
Listed By:
Heather Wolfe
Source:
Clearrockrealty
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:23AM
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 Heather Wolfe
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Investment Insights
Based on property information with market context.
Built in 2023, this 2,176-square-foot duplex contains two residences, each with three bedrooms and two bathrooms. Both units have an open-concept layout, granite countertops, stainless steel appliances, cabinetry, vinyl plank flooring, and a primary suite with a walk-in closet. An attached two-car garage serves each residence, and laundry is located upstairs.
The property occupies a 0.19-acre lot in Lubbock, Texas.
The property occupies a 0.19-acre lot in Lubbock, Texas.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 2,176 square feet; built in 2023
- Attached 2‑car garage for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,654
Cap Rate
8.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,080
$393.1K
Cap Rate 7%
$280,771
$280.8K
Cap Rate 9%
$218,378
$218.4K
Market Conditions
NOI Build-Up for 2,176 SF
Gross rent
$30.0K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.1K $12.90/SF
− OpEx
−$8.4K −$3.87/SF
NOI
$19.7K $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%
$393,080
Cap Rate 7%
$280,771
Cap Rate 9%
$218,378
Alternative Uses
Best Use
Multifamily LT 5
$280.8K
$245.7K – $327.6K
NOI $19,654 @ 7.0% cap · market cap 8.36%
Second Best
Apartment 5plus
$252.1K
$220.6K – $294.1K
NOI $17,647 @ 7.0% cap · market cap 7.51%
Theoretical Best
Office A
$548.6K
$480.0K – $640.0K
NOI $38,400 @ 7.0% cap · market cap 16.34%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
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Business Placement
Demographics for 79403, TX
15,604
Population
6,530
Households
2.4
Avg Household Size
38
Median Age
11%
College-Educated
76%
High-School Grad
131.3 sq mi
ZIP Area
119
Density / Sq Mi
$45,343
Median Household Income
$27,431
Median Earnings
$946
Median Rent
$83,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence combines an open living area with an upstairs laundry room.
Where is this duplex located?
The property is located at 406 N Zenith Avenue # A&b 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: Two residences, each with 3 bedrooms and 2 bathrooms; 2,176 square feet; built in 2023; Attached 2‑car garage for each unit
