Updated Duplex with Recent
For Sale
$180,000
Pending
6505 21st St, Lubbock, TX 79407
Updated flooring, fresh paint, and central air and heat support comfortable occupancy in the Friendship School District.
Property Size1,044 SF
Days on Market57
Property Features for 6505 21st St
General Information
Standard status
Pending
Size
1,044 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1980
Buildings
1
Listing Agency:
Reside Real Estate Co
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Sep 9
Changed: Nov 3
Last Checked: Nov 3 at 5:28AM
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 Reside Real Estate Co
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains 1,044 square feet and was built in 1980. The property includes two bedrooms and one and a half baths, along with spacious rooms, updated flooring, and updated interior paint. Central air and heat provide year-round climate control, while a recent roof adds a significant property improvement.
The property is located at 6505 21st St in Lubbock, Texas, within the Friendship School District. Schools, shopping, and local amenities are located nearby, adding practical convenience for occupants.
The property is located at 6505 21st St in Lubbock, Texas, within the Friendship School District. Schools, shopping, and local amenities are located nearby, adding practical convenience for occupants.
Key Highlights
- 1,044‑square‑foot duplex built in 1980
- Two bedrooms and one and a half baths
- Updated flooring and interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,430
Cap Rate
5.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$188,600
$188.6K
Cap Rate 7%
$134,714
$134.7K
Cap Rate 9%
$104,778
$104.8K
Market Conditions
NOI Build-Up for 1,044 SF
Gross rent
$14.4K $13.80/SF
− Vacancy
−$936 −$0.90/SF
EGI
$13.5K $12.90/SF
− OpEx
−$4.0K −$3.87/SF
NOI
$9.4K $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%
$188,600
Cap Rate 7%
$134,714
Cap Rate 9%
$104,778
Alternative Uses
Best Use
Multifamily LT 5
$134.7K
$117.9K – $157.2K
NOI $9,430 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$121.0K
$105.8K – $141.1K
NOI $8,467 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$263.2K
$230.3K – $307.1K
NOI $18,424 @ 7.0% cap · market cap 10.24%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
170
Businesses Nearby
Explore this area
Business Placement
Demographics for 79407, TX
23,208
Population
11,817
Households
2
Avg Household Size
32
Median Age
41%
College-Educated
92%
High-School Grad
75.9 sq mi
ZIP Area
306
Density / Sq Mi
$64,778
Median Household Income
$38,212
Median Earnings
$1,131
Median Rent
$200,700
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
Frequently Asked Questions
What type of property is this?
Duplex - Updated flooring, fresh paint, and central air and heat support comfortable occupancy in the Friendship School District.
Where is this duplex located?
The property is located at 6505 21st St Lubbock, TX.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: 1,044‑square‑foot duplex built in 1980; Two bedrooms and one and a half baths; Updated flooring and interior paint
