New Duplex for
7120 22nd St Lubbock, TX 79407
New
For Sale
$425,000
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 Market5
Property Features for 7120 22nd St
General Information
- Standard status
- Active
- Size
- 3,790 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2024
Listing Agency:
Dannheim Realty
(806) 787-9034
Listed By:
Chuck Dannheim · License #0591961
Source:
Raftercrossrealty
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 23 at 5:19AM
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
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.3k | $13.80 |
| − Vacancy | −$3.4k | −$0.90 |
| EGI | $48.9k | $12.90 |
| − OpEx | −$14.7k | −$3.87 |
| NOI | $34.2k | $9.03 |
3,790 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
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
