Duplex with Private Bedroom
For Sale
$260,000
5408 Harvard St, Lubbock, TX 79416
Each residence includes private bathrooms, laundry hookups, fenced outdoor space, and shared off-street parking.
Property Size2,732 SF
Price / SF$95.17
Days on Market95
Property Features for 5408 Harvard St
General Information
Standard status
Active
Size
2,732 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 3BR/3BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,047
Amenities
washer and dryer connections
small fenced backyards
off-street parking via a shared driveway
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty
(806) 729-1924
Listed By:
Cindy Harrison · License #0757397
(806) 729-1924
Source:
Exprealty
Added: May 28
Changed: Aug 21
Last Checked: Aug 29 at 11:26AM
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 2,732-square-foot duplex includes two residences, each arranged with 3 bedrooms and 3 full bathrooms. Every bedroom has its own full bathroom, creating private bedroom suites within each unit. Both sides also provide washer and dryer connections, small fenced backyards, and off-street parking through a shared driveway.
The property is in north Lubbock with access to Loop 289, Texas Tech University, and the Medical District. Both units are currently leased, providing an established rental arrangement for an investor evaluating the property.
The property is in north Lubbock with access to Loop 289, Texas Tech University, and the Medical District. Both units are currently leased, providing an established rental arrangement for an investor evaluating the property.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 3 full bathrooms per side
- 2,732 SF property in north Lubbock
- Each bedroom includes its own full bathroom
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
$22,156
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
8.52%
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%
$443,120
$443.1K
Cap Rate 7%
$316,514
$316.5K
Cap Rate 9%
$246,178
$246.2K
Market Conditions
NOI Build-Up for 2,732 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
$42.9K $15.72/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$40.3K $14.75/SF
− OpEx
−$18.1K −$6.64/SF
NOI
$22.2K $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%
$443,120
Cap Rate 7%
$316,514
Cap Rate 9%
$246,178
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$316.5K
$277.0K – $369.3K
NOI $22,156 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$688.7K
$602.7K – $803.5K
NOI $48,212 @ 7.0% cap · market cap 18.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
108
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes private bathrooms, laundry hookups, fenced outdoor space, and shared off-street parking.
Where is this duplex located?
The property is located at 5408 Harvard St Lubbock, TX.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 3 full bathrooms per side; 2,732 SF property in north Lubbock; Each bedroom includes its own full bathroom
