Two-Unit
For Sale
$245,000
6319 7th St, Lubbock, TX 79416
Both residences are leased under long-term contracts, supporting continued occupancy for an income-oriented owner.
Property Size2,357 SF
Price / SF$103.95
Days on Market55
Property Features for 6319 7th St
General Information
Standard status
Active
Size
2,357 SF
Property subtype
Multi-Family
Building Details
Year Built
2003
Listing Agency:
Brick & Loft Realty
Listed By:
Travis Turner · License #0660475
(806) 577-2508
Source:
Raftercrossrealty
Added: Aug 23
Changed: Oct 13
Last Checked: Oct 7 at 3:15PM
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 Brick & Loft Realty
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Investment Insights
Based on property information with market context.
Constructed in 2003, this 2,357-square-foot duplex contains two comparable residences. Each side provides 2 bedrooms, 2 bathrooms, and a 1-car garage, creating a consistent layout across the property.
Both units are currently leased under long-term contracts. The property is in good condition and offers an established residential income configuration with separate living spaces and individual garages.
Both units are currently leased under long-term contracts. The property is in good condition and offers an established residential income configuration with separate living spaces and individual garages.
Key Highlights
- Both sides currently leased under long‑term contracts
- 2,357‑square‑foot duplex built in 2003
- Each unit includes 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,289
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,780
$425.8K
Cap Rate 7%
$304,129
$304.1K
Cap Rate 9%
$236,544
$236.5K
Market Conditions
NOI Build-Up for 2,357 SF
Gross rent
$32.5K $13.80/SF
− Vacancy
−$2.1K −$0.90/SF
EGI
$30.4K $12.90/SF
− OpEx
−$9.1K −$3.87/SF
NOI
$21.3K $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 Rate 5%
$425,780
Cap Rate 7%
$304,129
Cap Rate 9%
$236,544
Alternative Uses
Best Use
Multifamily LT 5
$304.1K
$266.1K – $354.8K
NOI $21,289 @ 7.0% cap · market cap 8.69%
Second Best
Apartment 5plus
$273.1K
$238.9K – $318.6K
NOI $19,115 @ 7.0% cap · market cap 7.80%
Theoretical Best
Office A
$594.2K
$519.9K – $693.2K
NOI $41,594 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
107
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 are leased under long-term contracts, supporting continued occupancy for an income-oriented owner.
Where is this duplex located?
The property is located at 6319 7th St Lubbock, TX.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Both sides currently leased under long‑term contracts; 2,357‑square‑foot duplex built in 2003; Each unit includes 2 bedrooms and 2 bathrooms
