Duplex with Four-Unit
For Sale
$115,000
714 29th St, Lubbock, TX 79404
Two leased units feature refreshed interiors, included appliances, and an established residential rental setup.
Property Size1,056 SF
Lot Size0.28 Acres
Price / SF$108.90
Days on Market62
Property Features for 714 29th St
General Information
Standard status
Active
Size
1,056 SF
Lot size
0.28 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1962
Buildings
1
Tenancy
Multi
Listing Agency:
Williams & Company Real Estate
Listed By:
Steadfast Realty
(806) 451-4767
Source:
Steadfast-realty
Added: Aug 13
Changed: Oct 13
Last Checked: Oct 12 at 7:14PM
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
Investment Insights
Based on property information with market context.
This duplex contains two one-bedroom, one-bath residences within 1,056 square feet. Both units are tenant-occupied under leases extending through Spring 2027. Interior updates include fresh paint and newer flooring, while appliances remain with the property.
The property occupies a 12,000-square-foot lot at 714 29th St in Lubbock, Texas. Zoning allows up to four residential units, subject to verification with local planning authorities, creating a documented path to evaluate additional residential development. Local businesses, shopping, restaurants, gas stations, and employment centers are within walking distance, and freeway access supports regional commuting.
The property occupies a 12,000-square-foot lot at 714 29th St in Lubbock, Texas. Zoning allows up to four residential units, subject to verification with local planning authorities, creating a documented path to evaluate additional residential development. Local businesses, shopping, restaurants, gas stations, and employment centers are within walking distance, and freeway access supports regional commuting.
Key Highlights
- Two 1‑bedroom, 1‑bath units totaling 1,056 square feet
- Both units are tenant‑occupied with leases in place through Spring 2027
- 12,000 sq. ft. lot with zoning allowing up to four residential units, subject to verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,538
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,760
$190.8K
Cap Rate 7%
$136,257
$136.3K
Cap Rate 9%
$105,978
$106.0K
Market Conditions
NOI Build-Up for 1,056 SF
Gross rent
$14.6K $13.80/SF
− Vacancy
−$947 −$0.90/SF
EGI
$13.6K $12.90/SF
− OpEx
−$4.1K −$3.87/SF
NOI
$9.5K $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%
$190,760
Cap Rate 7%
$136,257
Cap Rate 9%
$105,978
Alternative Uses
Best Use
Multifamily LT 5
$136.3K
$119.2K – $159.0K
NOI $9,538 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$122.3K
$107.1K – $142.7K
NOI $8,564 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$266.2K
$232.9K – $310.6K
NOI $18,635 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 79404, TX
9,956
Population
4,289
Households
2.3
Avg Household Size
38
Median Age
13%
College-Educated
73%
High-School Grad
28.5 sq mi
ZIP Area
349
Density / Sq Mi
$48,642
Median Household Income
$30,654
Median Earnings
$958
Median Rent
$86,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased units feature refreshed interiors, included appliances, and an established residential rental setup.
Where is this duplex located?
The property is located at 714 29th St Lubbock, TX.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units totaling 1,056 square feet; Both units are tenant‑occupied with leases in place through Spring 2027; 12,000 sq. ft. lot with zoning allowing up to four residential units, subject to verification
