Duplex Income Property With
5408 34th Street Lubbock, TX 79407
For Sale
$199,000
Pending
Duplex with 2/2/2 units per side, one occupied and the other vacant, offering current income-producing configuration.
Property Size2,128 SF
Days on Market497
Property Features for 5408 34th Street
General Information
- Standard status
- Pending
- Size
- 2,128 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1984
Listing Agency:
Flatland Realty LLC
(806) 789-9712
Listed By:
Josh Putman · License #0618166
(806) 789-9712
Source:
Exitrealty
Added: Mar 15, 2025
Changed: Jul 22
Last Checked: Jul 24 at 6:36AM
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 Flatland Realty LLC
Investment Insights
Based on property information with market context.
This income-producing duplex includes two units with a 2/2/2 layout per side. One side is currently occupied, while the other side is vacant, creating a practical in-place setup for an investor or buyer seeking immediate occupancy flexibility.
The property is located at 5408 34th Street in Lubbock, Texas, with quick access to Marsha Sharp and West Loop 289.
The existing configuration provides two separate residential units within the duplex structure, each set up with its own 2/2/2 room arrangement.
The property is located at 5408 34th Street in Lubbock, Texas, with quick access to Marsha Sharp and West Loop 289.
The existing configuration provides two separate residential units within the duplex structure, each set up with its own 2/2/2 room arrangement.
Key Highlights
- Duplex built in 1984 with 2/2/2 units per side
- Current configuration: one side occupied and the other side vacant
- Quick access to Marsha Sharp and West Loop 289
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 | $33.5k | $15.72 |
| − Vacancy | −$2.1k | −$0.97 |
| EGI | $31.4k | $14.75 |
| − OpEx | −$14.1k | −$6.64 |
| NOI | $17.3k | $8.11 |
2,128 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.3K – $320.3K
NOI $19,220 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$246.5K
$215.7K – $287.6K
NOI $17,258 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$536.5K
$469.4K – $625.9K
NOI $37,553 @ 7.0% cap · market cap 18.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with 2/2/2 units per side, one occupied and the other vacant, offering current income-producing configuration.
Where is this duplex located?
The property is located at 5408 34th Street Lubbock, TX.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Duplex built in 1984 with 2/2/2 units per side; Current configuration: one side occupied and the other side vacant; Quick access to Marsha Sharp and West Loop 289
