Updated
New
For Sale
$275,000
Pending
7916 Aberdeen Avenue, Lubbock, TX 79424
Residential Income, Lubbock, TX
Property Size2,899 SF
Lot Size0.23 Acres
Days on Market5
Property Features for 7916 Aberdeen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning description
Single Family
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5
Parking features
Open, Garage
Window features
Window Coverings
Interior features
Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Formica Counters, Laminate Counters, Walk-In Closet(s)
Fireplace
1
Appliances
Dishwasher, Electric Oven, Electric Range
Lot features
City Lot
Elementary school
Smith
Middle school
Irons
High school
Coronado
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
7
Standard status
Pending
APN
R60171
Size
2,899 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
Farrar Estates S75'of L 4 & N10'of 3
Tax Annual Amount
5761
Legal Description
Farrar Estates S75'of L 4 & N10'of 3
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1976
Floors in Building
1
Number of units
2
Flooring type
Laminate, Carpet, Plank
Building materials
Brick
Roof type
Composition
Architectural style
Ranch
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Nancy Garrett · License #0466808
(806) 438-0181
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 29 at 12:06PM
MLS# 202611859
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 two-unit brick ranch property was built in 1976 and contains 2,899 square feet on a 0.23-acre lot. Interior features include breakfast bars, eat-in kitchens, walk-in closets, ceiling fans, and laminate or Formica counters. Recent improvements include vinyl plank flooring and interior paint, while carpet and other laminate surfaces are also present. Each residence benefits from central natural gas heat, electric central air, and a kitchen equipped with a dishwasher, electric oven, and electric range.
The property is located just off 82nd and Slide in Lubbock, Texas. Public water and public sewer serve the site. Parking includes a garage and open spaces, and the composition roof, brick construction, ranch design, and fireplaces contribute to the existing residential configuration.
The property is located just off 82nd and Slide in Lubbock, Texas. Public water and public sewer serve the site. Parking includes a garage and open spaces, and the composition roof, brick construction, ranch design, and fireplaces contribute to the existing residential configuration.
Key Highlights
- Two‑unit duplex with 2,899 square feet of building area
- 0.23‑acre lot in Lubbock, TX 79424
- Brick ranch construction dating to 1976
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
$23,511
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
8.55%
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%
$470,220
$470.2K
Cap Rate 7%
$335,871
$335.9K
Cap Rate 9%
$261,233
$261.2K
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
$45.6K $15.72/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$42.7K $14.75/SF
− OpEx
−$19.2K −$6.64/SF
NOI
$23.5K $8.11/SF
Area
Lubbock, TX
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
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%
$470,220
Cap Rate 7%
$335,871
Cap Rate 9%
$261,233
Alternative Uses
Best Use
Multifamily LT 5
$374.1K
$327.3K – $436.4K
NOI $26,184 @ 7.0% cap · market cap 9.52%
Second Best
Apartment 5plus
$335.9K
$293.9K – $391.9K
NOI $23,511 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$730.8K
$639.5K – $852.7K
NOI $51,159 @ 7.0% cap · market cap 18.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
637
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 - Brick ranch duplex with refreshed interior finishes, public utilities, garage parking, and central heating and cooling.
Where is this duplex located?
The property is located at 7916 Aberdeen Avenue Lubbock, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,899 square feet of building area; 0.23‑acre lot in Lubbock, TX 79424; Brick ranch construction dating to 1976
