Two-Unit Duplex with
7915 Albany Avenue Lubbock, TX 79424
For Sale
$295,000
Pending
MULTI_FAMILY - Other - Lubbock, TX
Property Size3,068 SF
Lot Size0.46 Acres
Days on Market53
Property Features for 7915 Albany Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bathroom 4, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 5, Bathroom 2, Bathroom 3
- Parking features
- Garage
- Interior features
- Ceiling Fan(s), Granite Counters
- Fireplace
- 1
- Standard status
- Pending
- APN
- R60537
- Size
- 3,068 SF
- Lot size
- 0.46 Acres
Taxes and HOA fees
- Tax Description
- Farrar Estates L 17
- Tax Annual Amount
- 6062
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Ceiling Fan(s)
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Number of units
- 2
- Building materials
- Brick
- Roof type
- Composition
- Architectural style
- Other
Listing Agency:
Reside Real Estate Co.
(806) 646-6423
Listed By:
SuzAnne Scott · License #0569820
(806) 438-9074
Added: Jun 2
Changed: Jul 12
Last Checked: Jul 24 at 6:06PM
MLS# 202607531
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.
Investment Insights
Based on property information with market context.
This duplex includes two separate living units under one roof. Side A offers a 3-bedroom, 2-bath, 2-car configuration with a sunroom and granite countertops. Side B is a 2-bedroom, 2-bath, 2-car unit.
The property is located in SW Lubbock, Texas, at 7915 Albany Avenue. The current occupancy includes a long-term tenant on a month-to-month basis on Side A, while Side B is currently leased and is described as vacant in July. The roof was replaced in November 2025.
For buyers seeking a residential income property, this setup provides two distinct floorplans within a duplex format, with one unit currently occupied and the other scheduled to open in July. Side A’s updated interior finishes noted in the remarks can appeal to tenants looking for a more upgraded kitchen experience, while the 2-bedroom layout on Side B offers a separate option for households seeking fewer rooms. The recently replaced roof is an important operational consideration for day-to-day ownership.
The property is located in SW Lubbock, Texas, at 7915 Albany Avenue. The current occupancy includes a long-term tenant on a month-to-month basis on Side A, while Side B is currently leased and is described as vacant in July. The roof was replaced in November 2025.
For buyers seeking a residential income property, this setup provides two distinct floorplans within a duplex format, with one unit currently occupied and the other scheduled to open in July. Side A’s updated interior finishes noted in the remarks can appeal to tenants looking for a more upgraded kitchen experience, while the 2-bedroom layout on Side B offers a separate option for households seeking fewer rooms. The recently replaced roof is an important operational consideration for day-to-day ownership.
Key Highlights
- Duplex built in 1977 with brick construction and composition roof
- Side A offers 3 bed/2 bath/2‑car garage with sunroom; long‑term tenant pays $1,500/month on a month‑to‑month lease
- Side B offers 2 bed/2 bath/2‑car garage; currently vacant and tenant expected in July; pays $900
Financial Insights For Apartment 5plus
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 | $48.2k | $15.72 |
| − Vacancy | −$3.0k | −$0.97 |
| EGI | $45.2k | $14.75 |
| − OpEx | −$20.4k | −$6.64 |
| NOI | $24.9k | $8.11 |
3,068 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$395.9K
$346.4K – $461.8K
NOI $27,710 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$773.5K
$676.8K – $902.4K
NOI $54,142 @ 7.0% cap · market cap 18.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two separate units, including a sunroom-equipped 3-bedroom side and a second unit slated to be vacant in July.
Where is this duplex located?
The property is located at 7915 Albany Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Duplex built in 1977 with brick construction and composition roof; Side A offers 3 bed/2 bath/2‑car garage with sunroom; long‑term tenant pays $1,500/month on a month‑to‑month lease; Side B offers 2 bed/2 bath/2‑car garage; currently vacant and tenant expected in July; pays $900
