Updated Two-Unit
For Sale
$269,000
Pending
524 N Clinton Avenue, Lubbock, TX 79416
Two residential units offer refreshed interiors, private garages, and a corner-lot setting in Lubbock.
Property Size2,870 SF
Days on Market538
Property Features for 524 N Clinton Avenue
General Information
Standard status
Pending
Size
2,870 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,022
Building Details
Year Built
2003
Listing Agency:
Brick & Loft Realty
(806) 577-2508
Listed By:
Travis Turner · License #0660475
(806) 577-2508
Source:
Exitrealty
Added: Mar 13, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:20PM
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 Brick & Loft Realty
Investment Insights
Based on property information with market context.
Built in 2003, this duplex contains two residential units totaling 2,870 square feet. The property provides six bedrooms and six bathrooms overall, with each unit offering a two-car garage. Interior improvements include vinyl flooring and fresh paint, giving both sides a refreshed finish.
The duplex occupies a corner lot at 524 N Clinton Avenue in Lubbock, Texas, with access from its position along the corner. Its two-unit configuration and separate garage capacity support flexible residential occupancy arrangements.
The duplex occupies a corner lot at 524 N Clinton Avenue in Lubbock, Texas, with access from its position along the corner. Its two-unit configuration and separate garage capacity support flexible residential occupancy arrangements.
Key Highlights
- Two‑unit duplex with 6 bedrooms and 6 bathrooms overall
- 2,870 square feet across both residential units
- Each unit includes a 2‑car garage
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
$23,276
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
8.65%
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%
$465,520
$465.5K
Cap Rate 7%
$332,514
$332.5K
Cap Rate 9%
$258,622
$258.6K
Market Conditions
NOI Build-Up for 2,870 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
$45.1K $15.72/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$42.3K $14.75/SF
− OpEx
−$19.0K −$6.64/SF
NOI
$23.3K $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%
$465,520
Cap Rate 7%
$332,514
Cap Rate 9%
$258,622
Alternative Uses
Best Use
Multifamily LT 5
$370.3K
$324.0K – $432.0K
NOI $25,922 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$332.5K
$291.0K – $387.9K
NOI $23,276 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$723.5K
$633.1K – $844.1K
NOI $50,647 @ 7.0% cap · market cap 18.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer refreshed interiors, private garages, and a corner-lot setting in Lubbock.
Where is this duplex located?
The property is located at 524 N Clinton Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $269,000.
What are key features of this property?
This property features: Two‑unit duplex with 6 bedrooms and 6 bathrooms overall; 2,870 square feet across both residential units; Each unit includes a 2‑car garage
