Brick Duplex with Private
For Sale
$245,000
6319 7th Street, Lubbock, TX 79416
MULTI_FAMILY - Lubbock, TX
Property Size2,357 SF
Lot Size0.15 Acres
Price / SF$103.95
Days on Market148
Property Features for 6319 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 4, Bedroom 4
Parking features
Garage, On Street, Driveway, Off Street
Exterior features
Private Yard
Fireplace
1
Lot features
Back Yard, City Lot
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
8
Standard status
Active
APN
R172827
Size
2,357 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
WESTCHESTER PARK L 760
Tax Annual Amount
3746
Legal Description
WESTCHESTER PARK L 760
Utilities
Heating system
Central, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Building Details
Year built
2003
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition
Listing Agency:
Brick & Loft Realty
(806) 999-0722
Listed By:
Travis Turner · License #0660475
(806) 577-2508
Added: Mar 18
Changed: Aug 4
Last Checked: Aug 12 at 3:06PM
MLS# 202603573
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.
Brick duplex located at 6319 7th Street, Lubbock, TX 79416, built in 2003. The property totals 2,357 square feet on a 0.15-acre lot and includes a private yard. Both sides are currently leased on long-term contracts. Each side has a layout with two bedrooms, two bathrooms, and a one-car garage.
The duplex features vinyl flooring, central heating with natural gas, and central air conditioning with ceiling fans. A fireplace is included, and the roof is composition. Parking is available via on-street and off-street options, including a driveway and garage parking.
The property’s configuration supports dual-residence ownership and may appeal to tenants looking for a straightforward, repeatable unit layout across both sides.
The duplex features vinyl flooring, central heating with natural gas, and central air conditioning with ceiling fans. A fireplace is included, and the roof is composition. Parking is available via on-street and off-street options, including a driveway and garage parking.
The property’s configuration supports dual-residence ownership and may appeal to tenants looking for a straightforward, repeatable unit layout across both sides.
Key Highlights
- Both sides are currently leased on long‑term contracts
- 2,357 SF duplex on a 0.15‑acre lot with private yard
- Each side offers two bedrooms, two bathrooms, and a one‑car garage
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
$21,289
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
8.69%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
325
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
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 - Duplex with two leased sides, each offering two bedrooms, two baths, and a one-car garage plus private yard.
Where is this duplex located?
The property is located at 6319 7th Street 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 are currently leased on long‑term contracts; 2,357 SF duplex on a 0.15‑acre lot with private yard; Each side offers two bedrooms, two bathrooms, and a one‑car garage
