Brick Duplex with Private
For Sale
$245,000
Pending
6320 7th Street, Lubbock, TX 79416
MULTI_FAMILY - Lubbock, TX
Property Size2,357 SF
Lot Size0.15 Acres
Days on Market148
Property Features for 6320 7th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 4, Bathroom 3, Bedroom 3
Parking features
Driveway, Off Street, On Street, Garage
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
Pending
APN
R172820
Size
2,357 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Westchester Park L 753
Tax Annual Amount
3746
Legal Description
Westchester Park L 753
Utilities
Heating system
Natural Gas, Central
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 6
Last Checked: Aug 12 at 6:06PM
MLS# 202603568
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 brick duplex includes a two-bedroom, two-bath layout on each side, with a one-car garage per unit. The property is in good condition and has a practical split arrangement for day-to-day living. Exterior features include a private yard, and interior finishes include vinyl flooring. Heating is provided by central natural gas, with central air cooling and ceiling fan(s). A fireplace is also included, and the roof is composition.
The property sits on a 0.15-acre lot and totals 2,357 square feet. Parking is available via on-street and off-street options, along with a driveway and garage parking. Both sides are currently leased on long-term contracts.
Built in 2003, this duplex provides a straightforward option for buyers seeking an income-producing residential investment with repeatable unit configuration across both sides.
The property sits on a 0.15-acre lot and totals 2,357 square feet. Parking is available via on-street and off-street options, along with a driveway and garage parking. Both sides are currently leased on long-term contracts.
Built in 2003, this duplex provides a straightforward option for buyers seeking an income-producing residential investment with repeatable unit configuration across both sides.
Key Highlights
- 0.15‑acre lot and 2,357 SF duplex total
- Both sides currently leased on long‑term contracts
- Each side has 2 bedrooms, 2 bathrooms, and a 1‑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
2
Residential units
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 - Brick duplex on a private-yard lot with both sides currently leased on long-term contracts.
Where is this duplex located?
The property is located at 6320 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: 0.15‑acre lot and 2,357 SF duplex total; Both sides currently leased on long‑term contracts; Each side has 2 bedrooms, 2 bathrooms, and a 1‑car garage
