Duplex with Central Heating and
For Sale
$258,000
Pending
606 N Bangor Ave, Lubbock, TX 79416
Both residences are leased, with terms extending into 2027.
Property Size2,732 SF
Days on Market20
Property Features for 606 N Bangor Ave
General Information
Standard status
Pending
Size
2,732 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3/3/2
Multifamily Units
2
Amenities
central heating and air
Building Details
Year Built
2004
Buildings
1
Tenancy
Multi
Listing Agency:
Reside Real Estate Co
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Oct 16
Changed: Nov 3
Last Checked: Nov 3 at 6:39AM
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
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Investment Insights
Based on property information with market context.
This 2,732-square-foot duplex in northwest Lubbock contains two units, each described as a 3/3/2, with central heating and air. Unit A is leased through 6/30/2027, and Unit B is leased through 3/31/2027.
Key Highlights
- Two‑unit duplex totaling 2,732 square feet
- Each unit is configured as a 3/3/2
- Central heating and air
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,156
Cap Rate
8.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,120
$443.1K
Cap Rate 7%
$316,514
$316.5K
Cap Rate 9%
$246,178
$246.2K
Market Conditions
NOI Build-Up for 2,732 SF
Gross rent
$42.9K $15.72/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$40.3K $14.75/SF
− OpEx
−$18.1K −$6.64/SF
NOI
$22.2K $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%
$443,120
Cap Rate 7%
$316,514
Cap Rate 9%
$246,178
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 9.56%
Second Best
Apartment 5plus
$316.5K
$277.0K – $369.3K
NOI $22,156 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$688.7K
$602.7K – $803.5K
NOI $48,212 @ 7.0% cap · market cap 18.69%
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
111
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased, with terms extending into 2027.
Where is this duplex located?
The property is located at 606 N Bangor Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $258,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,732 square feet; Each unit is configured as a 3/3/2; Central heating and air
