Four-Unit
For Sale
$490,000
5827 6th St, Lubbock, TX 79416
Identical layouts offer three-bedroom living, private balconies, and attached garage storage across the property.
Property Size4,924 SF
Price / SF$99.51
Days on Market69
Property Features for 5827 6th St
General Information
Standard status
Active
Size
4,924 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,152
Amenities
balcony
washer/dryer connections
attached garage
Listing Agency:
WestMark Companies
(806) 535-1206
Listed By:
Joy Daniel · License #0525754
(806) 535-1206
Source:
Exprealty
Added: Jun 24
Changed: Aug 30
Last Checked: Aug 31 at 12:10AM
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 WestMark Companies
Investment Insights
Based on property information with market context.
This quadplex contains four matching residential units within 4,924 square feet. Each layout provides three bedrooms and two bathrooms, with an open living area connected to a kitchen with pantry storage. Primary suites include walk-in closets and ensuite bathrooms with tub-and-shower combinations. Washer and dryer connections are included, and private balconies extend each unit’s usable living space. An oversized attached two-car garage provides additional storage and parking capacity.
The property is located at 5827 6th St in Lubbock, Texas, within Frenship ISD. Its four-unit configuration and consistent floor plans create a straightforward multifamily asset with shared physical characteristics throughout the building.
The property is located at 5827 6th St in Lubbock, Texas, within Frenship ISD. Its four-unit configuration and consistent floor plans create a straightforward multifamily asset with shared physical characteristics throughout the building.
Key Highlights
- Four‑unit quadplex totaling 4,924 square feet
- Each unit includes 3 bedrooms and 2 bathrooms
- Matching floor plans across all four units
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
$44,474
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
9.08%
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%
$889,480
$889.5K
Cap Rate 7%
$635,343
$635.3K
Cap Rate 9%
$494,156
$494.2K
Market Conditions
NOI Build-Up for 4,924 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
$68.0K $13.80/SF
− Vacancy
−$4.4K −$0.90/SF
EGI
$63.5K $12.90/SF
− OpEx
−$19.1K −$3.87/SF
NOI
$44.5K $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%
$889,480
Cap Rate 7%
$635,343
Cap Rate 9%
$494,156
Alternative Uses
Best Use
Multifamily LT 5
$635.3K
$555.9K – $741.2K
NOI $44,474 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$570.5K
$499.2K – $665.6K
NOI $39,933 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,895 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
325
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?
Quadplex - Identical layouts offer three-bedroom living, private balconies, and attached garage storage across the property.
Where is this quadplex located?
The property is located at 5827 6th St Lubbock, TX.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4,924 square feet; Each unit includes 3 bedrooms and 2 bathrooms; Matching floor plans across all four units
