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    Ranch-Style Multi-Family Investment Title is generated by Realmo AI

    4309 58th Street, Lubbock, TX 79413

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    For Sale
    $220,000

    MULTI_FAMILY - Ranch - Lubbock, TX

    Type:Single Family Residence
    Property size:
    2,330 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $94/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 12:06 pm

    Property Features for 4309 58th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    4
    Bathrooms
    4
    Rooms
    Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3
    Parking features
    Driveway, Garage
    Window features
    Window Coverings
    Patio and Porch features
    Patio
    Interior features
    Ceiling Fan(s), Formica Counters
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Electric Range, Microwave, Range Hood
    Standard status
    Active
    APN
    R26311
    Size
    2,330 SF
    Lot size
    0.21 Acres

    Taxes and HOA fees

    Tax Description
    Broadmoor L 689
    Tax Annual Amount
    3431

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central, Natural Gas
    Cooling system
    Electric, Central Air
    Water source
    Public

    Building Details

    Year built
    1965
    Number of units
    2
    Flooring type
    Carpet, Tile, Plank
    Building materials
    Brick
    Roof type
    Composition
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Nancy Garrett
    Nancy Garrett

    Listing agent Nancy Garrett License #0466808

    Listing office Keller Williams Realty 10210 Quaker Ave, Lubbock, TX

    Listing date Jun 1, 2026

    MLS# 202607379 Listing URL

    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.

    HighLights

    • Ranch‑style home built in 1965 with brick exterior
    • Central heating and central air conditioning (natural gas and central systems)
    • Appliances include dishwasher, electric range, microwave, and range hood
    • Multiple bedrooms and bathrooms: Bedroom 1‑4 and Bathroom 1‑4
    • Fireplace and patio on‑site
    • Garage with driveway parking; fenced yard; public water and public sewer

    Overview

    This ranch-style multi-family property is well maintained and professionally managed with tenants in place. The current setup provides an income-producing opportunity for buyers seeking an established rental rather than a vacancy-to-lease start. The property includes a total size of 2,330 square feet on a 0.21-acre lot.

    Located in central Lubbock with easy access to everyday essentials, the property is positioned for practical day-to-day convenience. It is also offered as one of a four-property package, with additional listings including 4313 58th, 3633 54th, and 7912 Albany.

    For investors and owner-operators, this offering fits well for a portfolio addition where management and occupancy are already in place. Its professionally managed status may appeal to buyers looking to reduce operational overhead while maintaining rental continuity. As part of a larger package, it can also be a useful option for buyers planning to scale within the same broader set of nearby assets.

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $36.6k $15.72
    − Vacancy −$2.3k −$0.97
    EGI $34.4k $14.75
    − OpEx −$15.5k −$6.64
    NOI $18.9k $8.11
    2,330 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $269.9K
    $236.2K – $314.9K (±1% cap)
    NOI $18,896 @ 7.0% cap · market cap 8.59%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $587.4K
    $514.0K – $685.3K (±1% cap)
    NOI $41,118 @ 7.0% cap · market cap 18.69%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kayfabe All Day (Bike/Boat/Book/etc) Store

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lubbock
    County
    Lubbock
    State
    Texas
    Longitude
    -101.904089
    Latitude
    33.54128

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    FAQs

    What type of property is this?
    Single family property - Professionally managed rental with tenants in place, offering straightforward income potential in a central, convenient location.
    Where is this single family property located?
    The property is located at 4309 58th Street Lubbock, TX.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: Ranch‑style home built in 1965 with brick exterior; Central heating and central air conditioning (natural gas and central systems); Appliances include dishwasher, electric range, microwave, and range hood
    (806) 438-0181
    We can help!
    Listing Contact
    Nancy Garrett
    Nancy Garrett
    Real Estate License ID: 0466808
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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