Fully Leased Duplex
5523 Itasca Street Lubbock, TX 79416
For Sale
$370,000
MULTI_FAMILY - Lubbock, TX
Property Size2,842 SF
Lot Size0.17 Acres
Price / SF$130.19
Days on Market54
Property Features for 5523 Itasca Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bathroom 2, Bedroom 4, Bathroom 6, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 5
- Parking features
- Garage
- Standard status
- Active
- APN
- R337353
- Size
- 2,842 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Lincoln 16 L 156
- Tax Annual Amount
- 6122
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
Listed By:
Amy Cox · License #0667992
(806) 543-6095
Added: Jun 1
Changed: Jul 18
Last Checked: Jul 24 at 4:06PM
MLS# 202607356
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 residence contains two units, each configured with 3 bedrooms and 3 bathrooms. Each unit also includes a 2-car garage, providing dedicated off-street parking for residents. The property is listed as fully leased.
The duplex is located at 5523 Itasca Street in Lubbock, Texas (79416) within Lubbock County. The lot size is listed at 0.17 acres and the total property size is 2,842 square feet.
For buyers seeking a residential income property with established occupancy, this asset offers two separate unit spaces within a single duplex footprint. The unit mix is consistent across both sides, which can simplify management and leasing considerations for an owner who plans to reside in one unit while renting the other, or renting both units.
The duplex is located at 5523 Itasca Street in Lubbock, Texas (79416) within Lubbock County. The lot size is listed at 0.17 acres and the total property size is 2,842 square feet.
For buyers seeking a residential income property with established occupancy, this asset offers two separate unit spaces within a single duplex footprint. The unit mix is consistent across both sides, which can simplify management and leasing considerations for an owner who plans to reside in one unit while renting the other, or renting both units.
Key Highlights
- Lincoln 16 duplex built in 2021 with brick construction
- 2‑unit duplex; each unit has 3 bedrooms and 3 bathrooms
- Each unit includes a 2‑car garage
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
FAQs
What type of property is this?
Duplex - Two fully leased units each offer 3 bedrooms, 3 bathrooms, and a 2-car garage.
Where is this duplex located?
The property is located at 5523 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: Lincoln 16 duplex built in 2021 with brick construction; 2‑unit duplex; each unit has 3 bedrooms and 3 bathrooms; Each unit includes a 2‑car garage
