Two-Unit Duplex with
5706 120th St #1-2, Lubbock, TX 79424
For Sale
New
$410,000
Both residences are currently rented and feature matching three-bedroom, two-bath layouts.
Property Size3,033 SF
Price / SF$135.18
Days on Market2
Property Features for 5706 120th St #1-2
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Building Details
Year Built
Buildings
Tenancy
Listing Agency:
Taylor Reid Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Nov 6
Last Checked: Nov 6 at 2:54PM
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 Taylor Reid Realty
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Investment Insights
Based on property information with market context.
Built in 2019, this duplex contains two matching residences, each with 3 bedrooms, 2 bathrooms and a 2-car garage. The open plan connects the living, dining and kitchen areas. Tile flooring and granite countertops are used in the shared living spaces, while the bedrooms have carpet. The property totals 3,033 square feet.
Each unit is currently rented. The backyard includes grass and a sprinkler system.
Each unit is currently rented. The backyard includes grass and a sprinkler system.
Key Highlights
- Two matching units, each with 3 bedrooms and 2 bathrooms
- Each residence includes a 2‑car garage
- 3,033‑square‑foot duplex built in 2019
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,394
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$547,880
$547.9K
Cap Rate 7%
$391,343
$391.3K
Cap Rate 9%
$304,378
$304.4K
Market Conditions
NOI Build-Up for 3,033 SF
Gross rent
$41.9K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$39.1K $12.90/SF
− OpEx
−$11.7K −$3.87/SF
NOI
$27.4K $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%
$547,880
Cap Rate 7%
$391,343
Cap Rate 9%
$304,378
Alternative Uses
Best Use
Multifamily LT 5
$391.3K
$342.4K – $456.6K
NOI $27,394 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$351.4K
$307.5K – $410.0K
NOI $24,597 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$764.6K
$669.1K – $892.1K
NOI $53,524 @ 7.0% cap · market cap 13.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
177
Businesses Nearby
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Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lubbock, TX
Properties on Market for Duplexes in Lubbock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are currently rented and feature matching three-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 5706 120th St #1-2 Lubbock, TX.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two matching units, each with 3 bedrooms and 2 bathrooms; Each residence includes a 2‑car garage; 3,033‑square‑foot duplex built in 2019
