Updated Duplex with Private
For Sale
$264,900
Pending
6304 Quaker Avenue, Lubbock, TX 79413
Residential Income, Lubbock, TX
Property Size2,663 SF
Lot Size0.33 Acres
Days on Market324
Property Features for 6304 Quaker Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 3, Bathroom 4, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
Alley, Driveway, Garage, Open
Window features
Blinds
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Walk-In Closet(s)
Exterior features
Private Yard
Fireplace
1
Appliances
Dishwasher, Electric Range, Microwave, Range Hood, Refrigerator
Lot features
City Lot, Front Yard, Pie Shaped Lot
Elementary school
Williams
Middle school
Irons
High school
Coronado
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Directions
Inside of South Loop 289, Take Quaker north and the property is located on the west side of the street, on a separate little side street, you will see the other homes on that row.
Subdivision
3
Standard status
Pending
APN
R56720
Size
2,663 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
Quail Ridge L 17 Less Ne/Pt
Tax Annual Amount
4828
Legal Description
Quail Ridge L 17 Less Ne/Pt
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Flooring type
Carpet, Laminate
Building materials
Brick Veneer
Roof type
Composition
Architectural style
Other
Listing Agency:
Sincerity Real Estate LLC
(432) 413-2821
Listed By:
Tracie Nelson · License #0645141
(888) 519-7431
Added: Oct 30, 2025
Changed: Sep 17
Last Checked: Sep 18 at 5:06AM
MLS# 202562479
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 2,663-square-foot duplex includes two distinct residences with partially updated interiors. Unit A provides 2 bedrooms and 1.5 baths across approximately 1,200 square feet, while Unit B offers 3 bedrooms and 2 baths in approximately 1,400 square feet. Both units feature laminate flooring, a wood-burning fireplace with gas starter, walk-in closets, private yards, and access to a 2-car garage. The brick veneer property was built in 1976 and includes central heating and cooling, public water, public sewer, and composition roofing.
The duplex is positioned along a separate side street off Quaker Avenue rather than directly on the busier roadway. The property occupies 0.33 acres and includes driveway, open, and alley parking features. Interior appliances include a dishwasher, electric range, microwave, range hood, and refrigerator.
The duplex is positioned along a separate side street off Quaker Avenue rather than directly on the busier roadway. The property occupies 0.33 acres and includes driveway, open, and alley parking features. Interior appliances include a dishwasher, electric range, microwave, range hood, and refrigerator.
Key Highlights
- Two‑unit duplex with 2,663 square feet of building area
- Unit A: 2br/1.5bath and approximately 1,200sf
- Unit B: 3br/2bath and approximately 1,400sf
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
$24,052
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
9.08%
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%
$481,040
$481.0K
Cap Rate 7%
$343,600
$343.6K
Cap Rate 9%
$267,244
$267.2K
Market Conditions
NOI Build-Up for 2,663 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
$36.7K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$34.4K $12.90/SF
− OpEx
−$10.3K −$3.87/SF
NOI
$24.1K $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 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%
$481,040
Cap Rate 7%
$343,600
Cap Rate 9%
$267,244
Alternative Uses
Best Use
Multifamily LT 5
$343.6K
$300.7K – $400.9K
NOI $24,052 @ 7.0% cap · market cap 9.08%
Second Best
Apartment 5plus
$308.5K
$270.0K – $360.0K
NOI $21,597 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$671.3K
$587.4K – $783.2K
NOI $46,994 @ 7.0% cap · market cap 17.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
614
Businesses Nearby
Explore this area
Business Placement
Demographics for 79413, TX
20,962
Population
9,590
Households
2.2
Avg Household Size
35
Median Age
35%
College-Educated
91%
High-School Grad
4.7 sq mi
ZIP Area
4,460
Density / Sq Mi
$67,062
Median Household Income
$38,004
Median Earnings
$1,325
Median Rent
$195,900
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 residential units offer separate layouts, fireplaces, walk-in closets, and garage parking near Quaker Avenue.
Where is this duplex located?
The property is located at 6304 Quaker Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,663 square feet of building area; Unit A: 2br/1.5bath and approximately 1,200sf; Unit B: 3br/2bath and approximately 1,400sf
