New Construction 4-Unit Townhome
For Sale
$895,000
70307036 7030-7036 41st St, Lubbock, TX 79407
Under-construction four-unit townhome building with xeriscape yards and metal siding, adjacent to Canyon West shopping center.
Property Size5,974 SF
Price / SF$149.82
Days on Market103
Property Features for 70307036 7030-7036 41st St
General Information
Standard status
Active
Size
5,974 SF
Class
A
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
Williams & Company Real Estate
Listed By:
Dan Williams · License #0550528
(806) 777-1310
Source:
Raftercrossrealty
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 7 at 5:26PM
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 Williams & Company Real Estate
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.
For sale is a new construction 4-unit townhome building being completed in Lubbock, Texas. The property includes four separate townhome units within a single building footprint and is currently under construction, with completion to follow. Exterior features include metal siding and xeriscape yards supported by drought-resistant landscaping, with interior finishes referenced as part of the new construction.
The building is described as adjacent to the Canyon West shopping center and within walking distance to Frenship Memorial High School, placing it near retail and dining options.
Additional details are available upon request; please contact the listing broker to inquire about the remaining construction scope and information for prospective buyers.
The building is described as adjacent to the Canyon West shopping center and within walking distance to Frenship Memorial High School, placing it near retail and dining options.
Additional details are available upon request; please contact the listing broker to inquire about the remaining construction scope and information for prospective buyers.
Key Highlights
- Under‑construction 4‑unit townhome building
- Year built: 2026
- Xeriscape yards and drought‑resistant landscaping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,958
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,079,160
$1.1M
Cap Rate 7%
$770,829
$770.8K
Cap Rate 9%
$599,533
$599.5K
Market Conditions
NOI Build-Up for 5,974 SF
Gross rent
$82.4K $13.80/SF
− Vacancy
−$5.4K −$0.90/SF
EGI
$77.1K $12.90/SF
− OpEx
−$23.1K −$3.87/SF
NOI
$54.0K $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%
$1,079,160
Cap Rate 7%
$770,829
Cap Rate 9%
$599,533
Alternative Uses
Best Use
Multifamily LT 5
$770.8K
$674.5K – $899.3K
NOI $53,958 @ 7.0% cap · market cap 6.03%
Second Best
Apartment 5plus
$692.1K
$605.6K – $807.5K
NOI $48,449 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,424 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
408
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Under-construction four-unit townhome building with xeriscape yards and metal siding, adjacent to Canyon West shopping center.
Where is this quadplex located?
The property is located at 70307036 7030-7036 41st St Lubbock, TX.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Under‑construction 4‑unit townhome building; Year built: 2026; Xeriscape yards and drought‑resistant landscaping
