Brick Duplex with Tenants in
For Sale
$215,000
Pending
4309 58th Street, Lubbock, TX 79413
Residential Income, Lubbock, TX
Property Size2,330 SF
Lot Size0.21 Acres
Days on Market55
Property Features for 4309 58th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Single Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2
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
Lot features
City Lot
Middle school
Evans
High school
Monterey
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
3
Standard status
Pending
APN
R26311
Size
2,330 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
L 689 Broadmoor
Tax Annual Amount
3432
Legal Description
L 689 Broadmoor
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1965
Number of units
2
Flooring type
Plank, Carpet, Tile
Building materials
Brick
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Nancy Garrett · License #0466808
(806) 438-0181
Added: Jul 25
Changed: Sep 13
Last Checked: Sep 17 at 12:06AM
MLS# 202610323
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.
This brick duplex contains 2,330 square feet on a 0.21-acre lot. The room schedule includes four bedrooms and four bathrooms, with a ranch-style design originally built in 1965. Interior features include Formica counters, ceiling fans, and a mix of plank, carpet, and tile flooring. The property is equipped with a dishwasher, electric range, microwave, and range hood, along with central natural gas heating and central electric air conditioning.
Located at 4309 58th Street in Lubbock, the property has tenants in place and is professionally managed. Exterior features include a fenced lot, patio, driveway parking, and a garage. Public water and public sewer serve the property, while the composition roof provides the primary roof covering.
Located at 4309 58th Street in Lubbock, the property has tenants in place and is professionally managed. Exterior features include a fenced lot, patio, driveway parking, and a garage. Public water and public sewer serve the property, while the composition roof provides the primary roof covering.
Key Highlights
- 2,330‑square‑foot duplex on a 0.21‑acre lot
- Four bedrooms and four bathrooms
- Tenants in place with professional management
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
$18,896
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
8.79%
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%
$377,920
$377.9K
Cap Rate 7%
$269,943
$269.9K
Cap Rate 9%
$209,956
$210.0K
Market Conditions
NOI Build-Up for 2,330 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
$36.6K $15.72/SF
− Vacancy
−$2.3K −$0.97/SF
EGI
$34.4K $14.75/SF
− OpEx
−$15.5K −$6.64/SF
NOI
$18.9K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$377,920
Cap Rate 7%
$269,943
Cap Rate 9%
$209,956
Alternative Uses
Best Use
Multifamily LT 5
$300.6K
$263.1K – $350.8K
NOI $21,045 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$269.9K
$236.2K – $314.9K
NOI $18,896 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$587.4K
$514.0K – $685.3K
NOI $41,118 @ 7.0% cap · market cap 19.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
668
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Professionally managed duplex with current tenants, four bedrooms, and four bathrooms.
Where is this duplex located?
The property is located at 4309 58th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: 2,330‑square‑foot duplex on a 0.21‑acre lot; Four bedrooms and four bathrooms; Tenants in place with professional management
