New 4-Unit Townhome
For Sale
$796,000
7029 40th St, Lubbock, TX 79407
Newly constructed Class A 4-unit townhome building with modern finishes, built for low-maintenance, long-term ownership.
Property Size5,300 SF
Price / SF$150.19
Days on Market95
Property Features for 7029 40th St
General Information
Standard status
Active
Size
5,300 SF
Property subtype
Multi-Family
Building Details
Year Built
2026
Listing Agency:
Aycock Realty Group, LLC
Listed By:
Melissa Brouillette · License #0611734
(806) 441-2221
Source:
Raftercrossrealty
Added: Jul 21
Changed: Oct 5
Last Checked: Oct 7 at 5:19PM
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 Aycock Realty Group, LLC
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Investment Insights
Based on property information with market context.
This newly constructed 4-unit townhome building offers Class A quality and modern interior finishes designed for long-term, low-maintenance ownership. The property is presented as a turnkey multifamily asset in a townhome format, providing an appealing combination of updated construction and curb appeal.
The building is located in West Lubbock, within walking distance of Frenship Memorial High School and just minutes from Canyon West Shopping Center. That proximity to both school and retail supports convenient everyday access for residents.
As a four-unit townhome property, it provides straightforward multifamily structure with a consistent, modern design across the building, positioned for buyers seeking a newly built income property.
The building is located in West Lubbock, within walking distance of Frenship Memorial High School and just minutes from Canyon West Shopping Center. That proximity to both school and retail supports convenient everyday access for residents.
As a four-unit townhome property, it provides straightforward multifamily structure with a consistent, modern design across the building, positioned for buyers seeking a newly built income property.
Key Highlights
- Newly constructed 4‑unit townhome building (Year built: 2026)
- Class A townhomes with modern design and interior finishes
- Walking distance to Frenship Memorial High School
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,870
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,400
$957.4K
Cap Rate 7%
$683,857
$683.9K
Cap Rate 9%
$531,889
$531.9K
Market Conditions
NOI Build-Up for 5,300 SF
Gross rent
$73.1K $13.80/SF
− Vacancy
−$4.8K −$0.90/SF
EGI
$68.4K $12.90/SF
− OpEx
−$20.5K −$3.87/SF
NOI
$47.9K $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%
$957,400
Cap Rate 7%
$683,857
Cap Rate 9%
$531,889
Alternative Uses
Best Use
Multifamily LT 5
$683.9K
$598.4K – $797.8K
NOI $47,870 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$614.0K
$537.3K – $716.4K
NOI $42,983 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,530 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
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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
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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?
Quadplex - Newly constructed Class A 4-unit townhome building with modern finishes, built for low-maintenance, long-term ownership.
Where is this quadplex located?
The property is located at 7029 40th St Lubbock, TX.
What is the asking price?
The asking price for this property is $796,000.
What are key features of this property?
This property features: Newly constructed 4‑unit townhome building (Year built: 2026); Class A townhomes with modern design and interior finishes; Walking distance to Frenship Memorial High School
