Two-Unit Duplex with
New
For Sale
$258,000
606 N Bangor Avenue, Lubbock, TX 79416
Residential Income, Lubbock, TX
Property Size2,732 SF
Lot Size0.18 Acres
Price / SF$94.44
Days on Market2
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Property Features for 606 N Bangor Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 6, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 5, Bedroom 2, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 2
Parking features
Garage
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
8
Standard status
Active
APN
R303497
Size
2,732 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Description
LYNNWOOD L 3
Tax Annual Amount
4399
Legal Description
LYNNWOOD L 3
Utilities
Heating system
Central
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
2004
Floors in Building
1
Number of units
2
Building materials
Brick Veneer
Roof type
Composition
Architectural style
Other
Listing Agency:
Reside Real Estate Co.
(806) 646-6423
Listed By:
Casey Klingensmith · License #0633729
(940) 328-3123
Added: Oct 14
Last Checked: Oct 15 at 6:06PM
MLS# 202614150
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.
This 2004-built duplex contains two residences totaling 2,732 square feet on a 0.18-acre lot. Each unit is identified as a 3/3/2, with central heating and air conditioning. The building features brick veneer construction, composition roofing, and garage parking.
Unit A is leased through June 30, 2027, and Unit B is leased through March 31, 2027. The property is in Lubbock, Texas.
Unit A is leased through June 30, 2027, and Unit B is leased through March 31, 2027. The property is in Lubbock, Texas.
Key Highlights
- Two units, each configured as a 3/3/2
- 2,732‑square‑foot building on a 0.18‑acre lot
- Unit A leased until 6/30/2027; Unit B leased until 3/31/2027
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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Current Use
Lease Details
2
Residential units
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have central heating and air, and are leased through dates in 2027.
Where is this duplex located?
The property is located at 606 N Bangor Avenue 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 units, each configured as a 3/3/2; 2,732‑square‑foot building on a 0.18‑acre lot; Unit A leased until 6/30/2027; Unit B leased until 3/31/2027
