New Duplex for
For Sale
$425,000
7120 22nd St, Lubbock, TX 79407
Each side features three bedrooms, two bathrooms, and an open-concept kitchen, living, and dining layout.
Property Size3,790 SF
Price / SF$112.14
Days on Market105
Property Features for 7120 22nd St
General Information
Standard status
Active
Size
3,790 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Fenced Yard
Yes
Amenities
granite countertops
window treatments
ceiling fans
vinyl plank flooring
designer tile
open concept kitchen, living, and dining
artificial turf
fenced back yard
Building Details
Year Built
2024
Tenancy
Multi
Listing Agency:
Dannheim Realty
Listed By:
Chuck Dannheim · License #0591961
(806) 787-9034
Source:
Raftercrossrealty
Added: Jul 20
Changed: Oct 26
Last Checked: Oct 30 at 6:23PM
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 Dannheim Realty
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Investment Insights
Based on property information with market context.
New duplexes are offered in the Frenship School District in northwest Lubbock, with 17 available and the option to purchase individually or as a package of 1–17. Interior and exterior design and construction are by Clearview Custom Homes.
Each side provides three bedrooms and two bathrooms, with 1- and 2-car garages available. Finish details include granite countertops, window treatments, ceiling fans, vinyl plank flooring, and designer tile. The open concept kitchen, living, and dining area is complemented by large rooms and large closets, and each fenced back yard includes artificial turf.
The offering is described as having 100% occupancy at $1,600 to $1,650 per month, with options to purchase with a currently vacant unit or a fully occupied one.
Each side provides three bedrooms and two bathrooms, with 1- and 2-car garages available. Finish details include granite countertops, window treatments, ceiling fans, vinyl plank flooring, and designer tile. The open concept kitchen, living, and dining area is complemented by large rooms and large closets, and each fenced back yard includes artificial turf.
The offering is described as having 100% occupancy at $1,600 to $1,650 per month, with options to purchase with a currently vacant unit or a fully occupied one.
Key Highlights
- New duplexes built in 2024 in NW Lubbock within the Frenship School District
- 17 duplexes available; can be purchased individually or as a package of 1–17
- Each side offers 3 bedrooms and 2 bathrooms with an open‑concept kitchen, living, and dining layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,232
Cap Rate
8.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$684,640
$684.6K
Cap Rate 7%
$489,029
$489.0K
Cap Rate 9%
$380,356
$380.4K
Market Conditions
NOI Build-Up for 3,790 SF
Gross rent
$52.3K $13.80/SF
− Vacancy
−$3.4K −$0.90/SF
EGI
$48.9K $12.90/SF
− OpEx
−$14.7K −$3.87/SF
NOI
$34.2K $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%
$684,640
Cap Rate 7%
$489,029
Cap Rate 9%
$380,356
Alternative Uses
Best Use
Multifamily LT 5
$489.0K
$427.9K – $570.5K
NOI $34,232 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$439.1K
$384.2K – $512.3K
NOI $30,737 @ 7.0% cap · market cap 7.23%
Theoretical Best
Office A
$955.5K
$836.0K – $1.11M
NOI $66,883 @ 7.0% cap · market cap 15.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
77
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each side features three bedrooms, two bathrooms, and an open-concept kitchen, living, and dining layout.
Where is this duplex located?
The property is located at 7120 22nd St Lubbock, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: New duplexes built in 2024 in NW Lubbock within the Frenship School District; 17 duplexes available; can be purchased individually or as a package of 1–17; Each side offers 3 bedrooms and 2 bathrooms with an open‑concept kitchen, living, and dining layout
