Updated
New
For Sale
$295,000
7916 Aberdeen Ave, Lubbock, TX 79424
Both units are occupied, with advance notice required for showings.
Property Size2,899 SF
Price / SF$101.76
Days on Market3
Property Features for 7916 Aberdeen Ave
General Information
Standard status
Active
Size
2,899 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1976
Listing Agency:
Keller Williams Realty
(806) 438-0181
Listed By:
Nancy Garrett · License #0466808
Source:
Raftercrossrealty
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 11 at 10:13AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 2,899-square-foot duplex at 7916 Aberdeen Ave in Lubbock, Texas, was built in 1976 and has received recent interior updates. Vinyl plank flooring and new paint contribute to the refreshed condition, while ongoing occupancy provides an existing residential income setup.
Both sides are currently occupied, and prospective visitors must receive notice before touring the property. The duplex is positioned just off 82nd Street and Slide Road, providing a defined location within southwest Lubbock.
Both sides are currently occupied, and prospective visitors must receive notice before touring the property. The duplex is positioned just off 82nd Street and Slide Road, providing a defined location within southwest Lubbock.
Key Highlights
- 2,899‑square‑foot duplex in Lubbock
- Built in 1976
- Recent vinyl plank flooring and paint
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,184
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.88%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,680
$523.7K
Cap Rate 7%
$374,057
$374.1K
Cap Rate 9%
$290,933
$290.9K
Market Conditions
NOI Build-Up for 2,899 SF
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.
Gross rent
$40.0K $13.80/SF
− Vacancy
−$2.6K −$0.90/SF
EGI
$37.4K $12.90/SF
− OpEx
−$11.2K −$3.87/SF
NOI
$26.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$523,680
Cap Rate 7%
$374,057
Cap Rate 9%
$290,933
Alternative Uses
Best Use
Multifamily LT 5
$374.1K
$327.3K – $436.4K
NOI $26,184 @ 7.0% cap · market cap 8.88%
Second Best
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 7.97%
Theoretical Best
Office A
$730.8K
$639.5K – $852.7K
NOI $51,159 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 79424, TX
53,479
Population
22,800
Households
2.3
Avg Household Size
38
Median Age
47%
College-Educated
95%
High-School Grad
41.6 sq mi
ZIP Area
1,286
Density / Sq Mi
$94,703
Median Household Income
$52,417
Median Earnings
$1,151
Median Rent
$279,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied, with advance notice required for showings.
Where is this duplex located?
The property is located at 7916 Aberdeen Ave 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: 2,899‑square‑foot duplex in Lubbock; Built in 1976; Recent vinyl plank flooring and paint
