Duplex with Wood-Burning
For Sale
$264,900
Pending
6304 Quaker Avenue, Lubbock, TX 79413
MULTI_FAMILY - Other - Lubbock, TX
Property Size2,663 SF
Lot Size0.33 Acres
Days on Market298
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, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 4
Parking features
Garage, Open, Driveway, Alley
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
Natural Gas, Central
Cooling system
Electric, Ceiling Fan(s), Central Air
Water source
Public
Amenities
fireplace
walk-in closets
backyard
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet
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
(432) 413-2821
Added: Oct 30, 2025
Changed: Aug 5
Last Checked: Aug 23 at 11:06AM
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.
6304 Quaker Avenue is a brick veneer duplex built in 1976 featuring partially updated Unit A and Unit B. Unit A offers two bedrooms and 1.5 bathrooms with approximately 1,200 SF, while Unit B offers three bedrooms and 2 bathrooms with approximately 1,400 SF. Both units include updated laminate flooring, a wood-burning fireplace with a gas starter, walk-in closets, and spacious backyards, along with a porch and a 2-car garage.
The duplex is served by central heating and cooling, with natural gas and central electric noted for heating and central air plus electric/ceiling fans for cooling. Interior features include ceiling fans and walk-in closets. Appliances listed for the units include a dishwasher, electric range, microwave, range hood, and refrigerator.
The property sits on a 0.33-acre lot and is connected to public water and public sewer. Parking is supported by open parking, a driveway, and alley access, with a composition roof and private yard space.
The duplex is served by central heating and cooling, with natural gas and central electric noted for heating and central air plus electric/ceiling fans for cooling. Interior features include ceiling fans and walk-in closets. Appliances listed for the units include a dishwasher, electric range, microwave, range hood, and refrigerator.
The property sits on a 0.33-acre lot and is connected to public water and public sewer. Parking is supported by open parking, a driveway, and alley access, with a composition roof and private yard space.
Key Highlights
- Wood‑burning fireplace with gas starter in both units
- Unit A: 2 bedrooms, 1.5 baths, approx 1,200 SF
- Unit B: 3 bedrooms, 2 baths, approx 1,400 SF
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
Property Profile
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
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 - Partially updated brick veneer duplex with two units, wood-burning fireplace with gas starter, and private yards.
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: Wood‑burning fireplace with gas starter in both units; Unit A: 2 bedrooms, 1.5 baths, approx 1,200 SF; Unit B: 3 bedrooms, 2 baths, approx 1,400 SF
