Newer Construction Duplex
For Sale
$365,000
5501 Jarvis St, Lubbock, TX 79416
Built in 2021, this duplex offers two 3-bedroom, 2-bath units with attached 2-car garages.
Property Size2,890 SF
Price / SF$126.30
Days on Market100
Property Features for 5501 Jarvis St
General Information
Standard status
Active
Size
2,890 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
2021
Tenancy
Multi
Listing Agency:
McDougal, REALTORS
Listed By:
Ethan Quisenberry · License #0758039
(806) 317-0234
Source:
Raftercrossrealty
Added: Jul 21
Changed: Oct 26
Last Checked: Oct 7 at 4:58PM
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 McDougal, REALTORS
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Investment Insights
Based on property information with market context.
5501 Jarvis St is a well-maintained duplex built in 2021. The property features two spacious units, each with a functional 3-bedroom, 2-bath layout and a 2-car garage. Side A is on a new 1-year lease at $1,450 per month, while Side B is leased month-to-month at $1,300 per month.
The duplex is located in the Lincoln 16 neighborhood of Lubbock, Texas. It is positioned as an income-producing residential investment with modern construction and established current tenancy on both sides.
The duplex is located in the Lincoln 16 neighborhood of Lubbock, Texas. It is positioned as an income-producing residential investment with modern construction and established current tenancy on both sides.
Key Highlights
- Duplex built in 2021 with two units
- Each unit offers 1,445 SF with a 3‑bedroom, 2‑bath layout
- Each side includes an attached 2‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,103
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,060
$522.1K
Cap Rate 7%
$372,900
$372.9K
Cap Rate 9%
$290,033
$290.0K
Market Conditions
NOI Build-Up for 2,890 SF
Gross rent
$39.9K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$37.3K $12.90/SF
− OpEx
−$11.2K −$3.87/SF
NOI
$26.1K $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 Rate 5%
$522,060
Cap Rate 7%
$372,900
Cap Rate 9%
$290,033
Alternative Uses
Best Use
Multifamily LT 5
$372.9K
$326.3K – $435.1K
NOI $26,103 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$334.8K
$293.0K – $390.6K
NOI $23,438 @ 7.0% cap · market cap 6.42%
Theoretical Best
Office A
$728.6K
$637.5K – $850.0K
NOI $51,000 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
108
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Built in 2021, this duplex offers two 3-bedroom, 2-bath units with attached 2-car garages.
Where is this duplex located?
The property is located at 5501 Jarvis St Lubbock, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex built in 2021 with two units; Each unit offers 1,445 SF with a 3‑bedroom, 2‑bath layout; Each side includes an attached 2‑car garage
