Two-Unit Duplex Near Loop
For Sale
$175,000
6109 37th St, Lubbock, TX 79407
Two separate residential units provide a straightforward multifamily layout near Loop 289 and Lubbock Christian University.
Property Size1,785 SF
Price / SF$98.04
Days on Market51
Property Features for 6109 37th St
General Information
Standard status
Active
Size
1,785 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Keller Williams Realty
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 13
Changed: Nov 1
Last Checked: Nov 1 at 4:47AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This duplex contains two separate residential units within approximately 1,785 square feet. Built in 1980, the property offers a two-unit configuration suited to residential income use.
The address is in West Lubbock near Loop 289, Lubbock Christian University, shopping, dining, and everyday services. Its location provides access to established area amenities and transportation routes.
The address is in West Lubbock near Loop 289, Lubbock Christian University, shopping, dining, and everyday services. Its location provides access to established area amenities and transportation routes.
Key Highlights
- Two separate residential units
- Approximately 1,785 square feet
- Built in 1980
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,476
Cap Rate
8.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$289,520
$289.5K
Cap Rate 7%
$206,800
$206.8K
Cap Rate 9%
$160,844
$160.8K
Market Conditions
NOI Build-Up for 1,785 SF
Gross rent
$28.1K $15.72/SF
− Vacancy
−$1.7K −$0.97/SF
EGI
$26.3K $14.75/SF
− OpEx
−$11.8K −$6.64/SF
NOI
$14.5K $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%
$289,520
Cap Rate 7%
$206,800
Cap Rate 9%
$160,844
Alternative Uses
Best Use
Multifamily LT 5
$230.3K
$201.5K – $268.7K
NOI $16,122 @ 7.0% cap · market cap 9.21%
Second Best
Apartment 5plus
$206.8K
$181.0K – $241.3K
NOI $14,476 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$450.0K
$393.8K – $525.0K
NOI $31,500 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
364
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential units provide a straightforward multifamily layout near Loop 289 and Lubbock Christian University.
Where is this duplex located?
The property is located at 6109 37th St Lubbock, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two separate residential units; Approximately 1,785 square feet; Built in 1980
