Three-Bedroom Duplex
5502 Itasca Street Lubbock, TX 79416
5502 Itasca Street, Lubbock, TX, 79416
$370,000
For Sale
$370,000
MULTI_FAMILY - Lubbock, TX
Property Size2,842 SF
Lot Size0.17 Acres
Price / SF$130.19
Days on Market48
Property Features for 5502 Itasca Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bedroom 4, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 1, Bathroom 5, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 5
- Parking features
- Garage
- Standard status
- Active
- APN
- R337364
- Size
- 2,842 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Lincoln 16 L 167
- Tax Annual Amount
- 6054
Utilities
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 2021
- Number of units
- 2
- Building materials
- Brick
- Roof type
- Composition
Listing Agency
ALL Real Estate, LLC
(806) 543-6095
2529 74th Street, Lubbock, TX
Listed by
Amy Cox · License #0667992
(806) 543-6095
Added: Jun 1 Checked: Jul 18 at 9:06 am
MLS# 202607355
Listing URL
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 duplex consists of two separate units, each designed with 3 bedrooms and 3 bathrooms, along with a 2-car garage per unit. The layout supports independent living or separate leasing, making it practical for owners who want flexibility in how they use the property.
The property is located at 5502 Itasca Street in Lubbock, Texas 79416, within Lubbock County. The lot size is listed at 0.17 acres, with a total building size of 2,842 square feet.
As a residential income property, the unit mix is straightforward: two similar 3-bedroom/3-bath homes within the same duplex. This configuration can appeal to buyers seeking a two-unit setup where each side can be managed as its own residence while keeping the overall asset under one ownership structure. The two-car garage feature per unit is a concrete amenity that can matter for tenant functionality and daily convenience.
The property is located at 5502 Itasca Street in Lubbock, Texas 79416, within Lubbock County. The lot size is listed at 0.17 acres, with a total building size of 2,842 square feet.
As a residential income property, the unit mix is straightforward: two similar 3-bedroom/3-bath homes within the same duplex. This configuration can appeal to buyers seeking a two-unit setup where each side can be managed as its own residence while keeping the overall asset under one ownership structure. The two-car garage feature per unit is a concrete amenity that can matter for tenant functionality and daily convenience.
Key Highlights
- Newer 2021 build Lincoln 16 duplex with brick construction and a composition roof
- Two units, each with 3 bedrooms and 3 bathrooms
- Each unit includes a 2‑car garage and central heating
Local Financial Insights For Multifamily LT 5
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 | $39.2k | $13.80 |
| − Vacancy | −$2.5k | −$0.90 |
| EGI | $36.7k | $12.90 |
| − OpEx | −$11.0k | −$3.87 |
| NOI | $25.7k | $9.03 |
2,842 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$366.7K
$320.9K – $427.8K
NOI $25,669 @ 7.0% cap · market cap 6.94%
Second Best
Apartment 5plus
$329.3K
$288.1K – $384.1K
NOI $23,048 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$716.5K
$626.9K – $835.9K
NOI $50,153 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex property offering two separate 3-bedroom, 3-bath residences with two-car garages.
Where is this duplex located?
The property is located at 5502 Itasca Street Lubbock, TX.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Newer 2021 build Lincoln 16 duplex with brick construction and a composition roof; Two units, each with 3 bedrooms and 3 bathrooms; Each unit includes a 2‑car garage and central heating
