Brick Duplex with
For Sale
$175,000
6109 37th Street, Lubbock, TX 79407
Residential Income, Lubbock, TX
Property Size1,785 SF
Lot Size0.15 Acres
Price / SF$98.04
Days on Market11
Property Features for 6109 37th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bathroom 2
Security features
Security Lighting
Window features
Aluminum Frames
Patio and Porch features
Porch, Patio
Interior features
Entrance Foyer, Laminate Counters, Solid Surface Counters
Exterior features
Lighting
Appliances
Dishwasher, Electric Cooktop, Electric Oven, Electric Range, Exhaust Fan, Refrigerator, Washer/Dryer Stacked
Lot features
Rectangular Lot
Elementary school
Westwind
Middle school
Heritage
High school
Memorial
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R137685
Size
1,785 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Park Lorraine L 170
Tax Annual Amount
2613
Legal Description
Park Lorraine L 170
Utilities
Heating system
Natural Gas, Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1980
Number of units
2
Flooring type
Tile, Vinyl, Carpet
Building materials
Brick, Vinyl Siding
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Realty Refined · RE/MAX International
(806) 799-4200
Listed By:
Tony Lloyd · License #0462327
(806) 549-8669
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 21 at 6:06PM
MLS# 202612695
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.
Built in 1980, this ranch-style duplex contains two separate units within 1,785 square feet on a 0.15-acre lot. The property includes four bedrooms and two bathrooms, with laminate and solid surface counters, porches, patios, and composition roofing. Brick and vinyl siding form the exterior, while central natural gas heating and central electric air conditioning serve the building. Each unit is equipped with practical appliances, including a dishwasher, electric cooking appliances, refrigerator, exhaust fan, and stacked washer and dryer.
The property is located near Loop 289, Lubbock Christian University, shopping, dining, and everyday services. Public water is available, and exterior lighting is included. Interior finishes combine vinyl, tile, and carpet flooring across the residence.
The property is located near Loop 289, Lubbock Christian University, shopping, dining, and everyday services. Public water is available, and exterior lighting is included. Interior finishes combine vinyl, tile, and carpet flooring across the residence.
Key Highlights
- Two separate units within 1,785 square feet
- 0.15‑acre lot with ranch‑style construction
- Four bedrooms and two bathrooms
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
$14,476
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
8.27%
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%
$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
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
$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 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%
$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.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate living spaces, central heating and cooling, and a mix of vinyl, tile, and carpet flooring.
Where is this duplex located?
The property is located at 6109 37th Street 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 units within 1,785 square feet; 0.15‑acre lot with ranch‑style construction; Four bedrooms and two bathrooms
