Townhome Income
For Sale
$195,000
5861 Virginia Ave, Lubbock, TX 79407
Completed townhome construction with attached garage, fenced yard, landscaping, and finishes suited to residential occupancy.
Property Size1,578 SF
Price / SF$123.57
Days on Market50
Property Features for 5861 Virginia Ave
General Information
Standard status
Active
Size
1,578 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Units
Unit Mix
3BR/2BA
Multifamily Units
1
Building Details
Year Built
2023
Buildings
1
Listing Agency:
Reside Real Estate Co
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 12
Changed: Oct 31
Last Checked: Oct 30 at 1:35PM
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 Reside Real Estate Co
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Completed in 2023, this townhome offers 1,578 square feet with three bedrooms, two bathrooms, and a one-car garage. Interior features include granite countertops and vinyl plank flooring, while the property also includes a fenced and landscaped outdoor area.
The home is located in Escondido Crossing and falls within the Frenship School District. Its residential configuration and completed construction provide a straightforward addition to an income-property portfolio.
The home is located in Escondido Crossing and falls within the Frenship School District. Its residential configuration and completed construction provide a straightforward addition to an income-property portfolio.
Key Highlights
- Completed construction in 2023
- 1,578‑square‑foot townhome with 3 bedrooms and 2 bathrooms
- Attached 1‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,797
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,940
$255.9K
Cap Rate 7%
$182,814
$182.8K
Cap Rate 9%
$142,189
$142.2K
Market Conditions
NOI Build-Up for 1,578 SF
Gross rent
$24.8K $15.72/SF
− Vacancy
−$1.5K −$0.97/SF
EGI
$23.3K $14.75/SF
− OpEx
−$10.5K −$6.64/SF
NOI
$12.8K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,940
Cap Rate 7%
$182,814
Cap Rate 9%
$142,189
Alternative Uses
Best Use
Apartment 5plus
$182.8K
$160.0K – $213.3K
NOI $12,797 @ 7.0% cap · market cap 6.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$397.8K
$348.1K – $464.1K
NOI $27,847 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Frequently Asked Questions
What type of property is this?
Residential income property - Completed townhome construction with attached garage, fenced yard, landscaping, and finishes suited to residential occupancy.
Where is this residential income property located?
The property is located at 5861 Virginia Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Completed construction in 2023; 1,578‑square‑foot townhome with 3 bedrooms and 2 bathrooms; Attached 1‑car garage
