Newly Built
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 Market53
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 2, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 3
Parking features
Open, Garage
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
Central, Natural Gas
Cooling system
Central Air, Electric
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
Changed: Oct 28
Last Checked: Nov 1 at 5:06AM
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.
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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 / Yr
$14,253
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
113
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
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
