Duplex with Two-Car
For Sale
$365,000
5501 Jarvis Street, Lubbock, TX 79416
MULTI_FAMILY - Lubbock, TX
Property Size2,890 SF
Lot Size0.17 Acres
Price / SF$126.30
Days on Market190
Property Features for 5501 Jarvis Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 2, Bedroom 6, Bathroom 4
Parking features
Garage, Open, Driveway
Window features
Double Pane Windows, Blinds
Patio and Porch features
Porch
Interior features
Granite Counters, Kitchen Island, Open Floorplan, Pantry, Recessed Lighting, Walk-In Closet(s)
Appliances
Dishwasher, Electric Range, Microwave, Refrigerator
Lot features
Level
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
8
Standard status
Active
APN
R340374
Size
2,890 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Lincoln 16 L 237
Tax Annual Amount
6046
Legal Description
Lincoln 16 L 237
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2021
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Listing Agency:
McDougal, REALTORS
(806) 793-0703
Listed By:
Ethan Quisenberry · License #0758039
(806) 317-0234
Added: Feb 3
Changed: Aug 5
Last Checked: Aug 12 at 4:06PM
MLS# 202601480
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.
5501 Jarvis Street is a well-maintained, newer construction duplex with two spacious units. Built in 2021, each side features a functional 3 bedroom, 2 bathroom layout and 1,445 square feet of living space, along with a two-car garage and driveway parking. Interior finishes include granite counters, a kitchen island, an open floorplan, pantry, recessed lighting, and walk-in closets. Appliances listed include a dishwasher, electric range, microwave, and refrigerator.
Side A is under a new 1-year lease, while Side B is leased on a month-to-month basis. The property sits on a 0.17-acre lot and is served by public water and public sewer. Constructed with brick and equipped with central heating and central air, the duplex also includes ceiling fans and vinyl flooring.
This layout and modern construction make it straightforward to market to renters who want multiple bedrooms and functional daily living space on each side.
Side A is under a new 1-year lease, while Side B is leased on a month-to-month basis. The property sits on a 0.17-acre lot and is served by public water and public sewer. Constructed with brick and equipped with central heating and central air, the duplex also includes ceiling fans and vinyl flooring.
This layout and modern construction make it straightforward to market to renters who want multiple bedrooms and functional daily living space on each side.
Key Highlights
- Built in 2021 brick duplex with two leased sides
- Two units, each with 1,445 SF and a 3‑bedroom, 2‑bath layout
- 0.17‑acre lot served by public water and public sewer
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
$26,103
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
7.15%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained 2021-built duplex with two 3-bedroom, 2-bath units and two-car garages.
Where is this duplex located?
The property is located at 5501 Jarvis Street 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: Built in 2021 brick duplex with two leased sides; Two units, each with 1,445 SF and a 3‑bedroom, 2‑bath layout; 0.17‑acre lot served by public water and public sewer
