Newly Built
New
For Sale
$195,000
5861 Virginia Avenue, Lubbock, TX 79407
Residential Income, Lubbock, TX
Property Size1,578 SF
Lot Size0.07 Acres
Price / SF$123.57
Days on Market3
Property Features for 5861 Virginia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Town Home
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Garage, Open
Window features
Double Pane Windows
Interior features
Ceiling Fan(s), Granite Counters, Pantry, Walk-In Closet(s)
Fencing
Fenced
Appliances
Disposal
Lot features
Landscaped, Sprinklers In Rear
Elementary school
Bennett
Middle school
Frenship
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R345363
Size
1,578 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
Escondido Crossing L 192
Tax Annual Amount
3684
Legal Description
Escondido Crossing L 192
Utilities
Utilities
Electricity Available
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Amenities
fenced
landscaped
Building Details
Year built
2023
Floors in Building
1
Flooring type
Vinyl, Plank
Building materials
Brick
Roof type
Composition
Listing Agency:
Aycock Realty Group, LLC
(806) 778-5956
Listed By:
Liz Karr · License #0629554
(806) 632-5666
Added: Sep 10
Last Checked: Sep 12 at 6:06AM
MLS# 202612577
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.
Completed in 2023, this 1,578-square-foot duplex includes three bedrooms, two bathrooms, and a one-car garage. The interior features granite countertops, vinyl plank flooring, a pantry, walk-in closets, and ceiling fans. Central heating uses natural gas, while central electric air conditioning provides cooling. The property also includes brick construction, a composition roof, and a disposal.
Located at 5861 Virginia Avenue in Lubbock, the property sits within the Frenship School District. The 0.07-acre site has fencing, landscaping, open parking, and electricity available. Its layout and finish package provide a clearly defined residential configuration for review.
Located at 5861 Virginia Avenue in Lubbock, the property sits within the Frenship School District. The 0.07-acre site has fencing, landscaping, open parking, and electricity available. Its layout and finish package provide a clearly defined residential configuration for review.
Key Highlights
- 2023‑built duplex with 1,578 square feet
- Three bedrooms, two bathrooms, and a one‑car garage
- Granite countertops, vinyl plank flooring, pantry, and walk‑in closets
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
$14,253
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
7.31%
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%
$285,060
$285.1K
Cap Rate 7%
$203,614
$203.6K
Cap Rate 9%
$158,367
$158.4K
Market Conditions
NOI Build-Up for 1,578 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
$21.8K $13.80/SF
− Vacancy
−$1.4K −$0.90/SF
EGI
$20.4K $12.90/SF
− OpEx
−$6.1K −$3.87/SF
NOI
$14.3K $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%
$285,060
Cap Rate 7%
$203,614
Cap Rate 9%
$158,367
Alternative Uses
Best Use
Multifamily LT 5
$203.6K
$178.2K – $237.6K
NOI $14,253 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$182.8K
$160.0K – $213.3K
NOI $12,797 @ 7.0% cap · market cap 6.56%
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.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
113
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
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick construction offers a three-bedroom, two-bath layout with a private garage and fenced outdoor space.
Where is this duplex located?
The property is located at 5861 Virginia Avenue 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: 2023‑built duplex with 1,578 square feet; Three bedrooms, two bathrooms, and a one‑car garage; Granite countertops, vinyl plank flooring, pantry, and walk‑in closets
