Lubbock Multifamily Property For
For Sale
$337,000
532 N Clinton Avenue, Lubbock, TX 79416
MULTI_FAMILY - Other - Lubbock, TX
Property Size2,740 SF
Lot Size0.18 Acres
Price / SF$122.99
Days on Market93
Property Features for 532 N Clinton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 5, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 6, Bedroom 6, Bathroom 4
Parking features
Garage
Window features
Double Pane Windows
Exterior features
Private Yard
Fencing
Fenced
Elementary school
North Ridge
Middle school
Frenship
High school
Frenship
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
8
Standard status
Active
APN
R171391
Size
2,740 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
Fountain Wood L 53
Tax Annual Amount
4240
Legal Description
Fountain Wood L 53
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Building Details
Year built
2003
Number of units
2
Flooring type
Carpet, Tile
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
Exit Realty of Lubbock
(806) 771-3900
Listed By:
Cynthia Arriaga · License #0584899
(806) 790-0609
Added: May 13
Changed: Aug 5
Last Checked: Aug 13 at 9:06AM
MLS# 202606392
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 multifamily property is located in Lubbock, Texas. The property has a size of 2740 square feet and is situated on a lot of 0.18 acres. It is classified as a duplex and residential income property.
Key Highlights
- Brick exterior home built in 2003
- Central heating with natural gas and central air cooling
- Composition roof
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
$24,748
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
7.34%
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%
$494,960
$495.0K
Cap Rate 7%
$353,543
$353.5K
Cap Rate 9%
$274,978
$275.0K
Market Conditions
NOI Build-Up for 2,740 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
$37.8K $13.80/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$35.4K $12.90/SF
− OpEx
−$10.6K −$3.87/SF
NOI
$24.7K $9.03/SF
Area
Lubbock, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$494,960
Cap Rate 7%
$353,543
Cap Rate 9%
$274,978
Alternative Uses
Best Use
Multifamily LT 5
$353.5K
$309.4K – $412.5K
NOI $24,748 @ 7.0% cap · market cap 7.34%
Second Best
Apartment 5plus
$317.4K
$277.8K – $370.4K
NOI $22,221 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$690.8K
$604.4K – $805.9K
NOI $48,353 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
93
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 - Multifamily property in Lubbock, Texas, ideal for residential income.
Where is this duplex located?
The property is located at 532 N Clinton Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $337,000.
What are key features of this property?
This property features: Brick exterior home built in 2003; Central heating with natural gas and central air cooling; Composition roof
