Two-Unit Duplex
New
For Sale
$179,000
4423 31st St, Lubbock, TX 79410
Duplex with two 2-bedroom, 1-bath units, each with a dedicated carport and included appliances.
Property Size2,003 SF
Price / SF$89.37
Days on Market6
Property Features for 4423 31st St
General Information
Standard status
Active
Size
2,003 SF
Property subtype
Multi-Family
Additional Details
Business Included
No
Multifamily Units
2
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(806) 438-7987
Listed By:
Cole Whisenhunt · License #0641534
Source:
Raftercrossrealty
Added: Jul 27
Changed: Jul 28
Last Checked: Jul 31 at 9:17AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This duplex investment property offers 2,003 square feet across two separate sides, A and B. Each side features two bedrooms and one bathroom. Both units include a dedicated carport and essential appliances.
The property is located near the Medical District and Maxey Park, with proximity to Texas Tech University. The public remarks indicate a walkable area with high walkability scores.
As currently leased, Side A is leased through 06/30/2026 and Side B is leased through 07/31/2026. Monthly rent is $885 for Side A and $885 for Side B, for a total of $1,770 per month based on the provided figures.
The property is located near the Medical District and Maxey Park, with proximity to Texas Tech University. The public remarks indicate a walkable area with high walkability scores.
As currently leased, Side A is leased through 06/30/2026 and Side B is leased through 07/31/2026. Monthly rent is $885 for Side A and $885 for Side B, for a total of $1,770 per month based on the provided figures.
Key Highlights
- 2,003 sq. ft. duplex built in 1960 with two units (Sides A & B)
- Each side offers 2 bedrooms and 1 bathroom
- Monthly rent is $885 per side (total $1,770/mo)
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 | $31.5k | $15.72 |
| − Vacancy | −$2.0k | −$0.97 |
| EGI | $29.5k | $14.75 |
| − OpEx | −$13.3k | −$6.64 |
| NOI | $16.2k | $8.11 |
2,003 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$258.4K
$226.1K – $301.5K
NOI $18,091 @ 7.0% cap · market cap 10.11%
Second Best
Apartment 5plus
$232.1K
$203.1K – $270.7K
NOI $16,244 @ 7.0% cap · market cap 9.07%
Theoretical Best
Office A
$505.0K
$441.8K – $589.1K
NOI $35,347 @ 7.0% cap · market cap 19.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 79410, TX
8,615
Population
4,736
Households
1.8
Avg Household Size
29
Median Age
47%
College-Educated
91%
High-School Grad
2.4 sq mi
ZIP Area
3,590
Density / Sq Mi
$48,350
Median Household Income
$29,637
Median Earnings
$1,315
Median Rent
$211,300
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 - Duplex with two 2-bedroom, 1-bath units, each with a dedicated carport and included appliances.
Where is this duplex located?
The property is located at 4423 31st St Lubbock, TX.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: 2,003 sq. ft. duplex built in 1960 with two units (Sides A & B); Each side offers 2 bedrooms and 1 bathroom; Monthly rent is $885 per side (total $1,770/mo)
