Duplex with Remodeled
New
For Sale
$140,000
529 42nd Street, Lubbock, TX 79404
MULTI_FAMILY - Lubbock, TX
Property Size1,488 SF
Lot Size0.15 Acres
Price / SF$94.09
Days on Market5
Property Features for 529 42nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bedroom 3
Parking features
Carport
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
2
Standard status
Active
APN
R105411
Size
1,488 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Pharr H L Blk 1 L 5
Tax Annual Amount
1815
Legal Description
Pharr H L Blk 1 L 5
Utilities
Heating system
Wall Furnace
Cooling system
Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
Building Details
Year built
1954
Number of units
2
Flooring type
Vinyl
Roof type
Composition
Listing Agency:
Thrive Real Estate
(806) 243-9560
Listed By:
Paul Zapata · License #0852934
(806) 891-0049
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 1 at 2:06AM
MLS# 202610491
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 duplex offers two residential units in an established setting, built in 1954. The property sits on a 0.15-acre lot and includes vinyl flooring, wall furnace heating, and window or wall/window air-conditioning units, along with ceiling fans. A carport provides covered parking.
Interior updates include refreshed paint, updated cabinetry, vinyl flooring, and remodeled bathrooms completed prior to the current owner’s purchase. Public remarks also indicate one unit is currently leased and the second unit is in the turnover process.
Roofing is composition. Additional room-level details listed include multiple bedrooms and two bathrooms across the units, supporting a tenant-ready duplex configuration for investors seeking an owner-occupied or rental arrangement. The property is located at 529 42nd Street in Lubbock, TX 79404.
Interior updates include refreshed paint, updated cabinetry, vinyl flooring, and remodeled bathrooms completed prior to the current owner’s purchase. Public remarks also indicate one unit is currently leased and the second unit is in the turnover process.
Roofing is composition. Additional room-level details listed include multiple bedrooms and two bathrooms across the units, supporting a tenant-ready duplex configuration for investors seeking an owner-occupied or rental arrangement. The property is located at 529 42nd Street in Lubbock, TX 79404.
Key Highlights
- 0.15‑acre duplex lot with carport parking
- Remodeled bathrooms plus refreshed paint and updated cabinetry
- Vinyl flooring throughout
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 | $23.4k | $15.72 |
| − Vacancy | −$1.5k | −$0.97 |
| EGI | $21.9k | $14.75 |
| − OpEx | −$9.9k | −$6.64 |
| NOI | $12.1k | $8.11 |
1,488 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$192.0K
$168.0K – $224.0K
NOI $13,440 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$172.4K
$150.9K – $201.1K
NOI $12,068 @ 7.0% cap · market cap 8.62%
Theoretical Best
Office A
$375.1K
$328.2K – $437.7K
NOI $26,259 @ 7.0% cap · market cap 18.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
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 on a 0.15-acre lot with vinyl floors, carport parking, wall furnace heat, and window-unit cooling.
Where is this duplex located?
The property is located at 529 42nd Street Lubbock, TX.
What is the asking price?
The asking price for this property is $140,000.
What are key features of this property?
This property features: 0.15‑acre duplex lot with carport parking; Remodeled bathrooms plus refreshed paint and updated cabinetry; Vinyl flooring throughout
