New Duplexes in Frenship
7120 22nd Street, Lubbock, TX 79407
MULTI_FAMILY - Other - Lubbock, TX
Property size:
3,790 SFLot size:
0.23 AcresPrice / SF:
$112/SF- Added:
- Jan 30, 2026
- Days on Market:
- 151
- Last Refresh:
- Jun 30 at 11:06 am
Property Features for 7120 22nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 6
- Rooms
- Bedroom 4, Bathroom 5, Bedroom 6, Bathroom 2, Bathroom 6, Bathroom 4, Bedroom 1, Bathroom 7, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 3, Bathroom 8, Bathroom 1
- Parking features
- Garage
- Window features
- Blinds, Double Pane Windows, Insulated Windows, Screens
- Interior features
- Bar, Beamed Ceilings, Breakfast Bar, Cathedral Ceiling(s), Ceiling Fan(s), Coffered Ceiling(s), Double Vanity, Eat-in Kitchen, Granite Counters, High Ceilings, High Speed Internet, Kitchen Island, Open Floorplan, Pantry, Recessed Lighting, Solid Surface Counters, Walk-In Closet(s)
- Exterior features
- Private Entrance, Private Yard
- Fencing
- Fenced
- Appliances
- Dishwasher, Disposal, Electric Oven, Electric Range, Freezer, Microwave, Refrigerator
- Standard status
- Active
- APN
- R340038
- Size
- 3,790 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Description
- Bushland Springs L 168
- Tax Annual Amount
- 8184
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Electric, Central Air, Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 2024
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Board & Batten Siding, Brick
- Roof type
- Composition
- Architectural style
- Other
Listing agent Chuck Dannheim License #0591961 (806) 787-9034
Listing office Dannheim Realty 604 CR 7200, Lubbock, TX (806) 787-9034
Listing date Jan 30, 2026
MLS# 202601330
Listing URL
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- New duplexes built in 2024 in NW Lubbock within the Frenship School District (17 available).
- Each side offers 3 bedrooms and 2 bathrooms with an open concept kitchen, living, and dining layout.
- Finish‑out includes granite counters, kitchen island, pantry, and designer tile; recessed lighting and high ceilings.
- Vinyl flooring throughout with high‑speed internet available, central heating and central air plus ceiling fans.
- Each unit includes a fenced backyard with artificial turf and a private entrance.
- Reported 100% occupancy with rents at $1,600 to $1,650 per month; available 1- and 2‑car garages.
Overview
These new duplexes are located in Northwest Lubbock, within the Frenship School District. Seventeen units are available, offered individually or as a package. Constructed by Clearview Custom Homes, each side features 3 bedrooms and 2 bathrooms. One and two-car garages are available. Interior finishes include granite countertops, window treatments, ceiling fans, vinyl plank flooring, and designer tile. The units feature large rooms with large closets and an open-concept kitchen, living, and dining area. The fenced back yard includes artificial turf. The property has 100% occupancy with monthly rents ranging from $1600 to $1650. The lot size is 0.23 acres and the property size is 3790 square feet.
Local 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 Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Lubbock
- County
- Lubbock
- State
- Texas
- Longitude
- -101.972101
- Latitude
- 33.574866
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - New duplexes in NW Lubbock, Frenship School District, fully occupied.
Where is this duplex located?
The property is located at 7120 22nd Street 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 available).; Each side offers 3 bedrooms and 2 bathrooms with an open concept kitchen, living, and dining layout.; Finish‑out includes granite counters, kitchen island, pantry, and designer tile; recessed lighting and high ceilings.
