Updated Duplex Near
For Sale
$224,000
8106 Avenue V, Lubbock, TX 79423
Turn-key duplex with updated units, private entrances, and garages.
Property Size2,091 SF
Lot Size0.16 Acres
Price / SF$107.18
Days on Market196
Property Features for 8106 Avenue V
General Information
Standard status
Active
Size
2,091 SF
Lot size
0.16 Acres
Property subtype
Duplex
Amenities
Fireplace
Electric
Central
Central Air
Fireplace(s)
Dishwasher
Dryer
Electric Oven
Electric Range
Refrigerator
Washer
Electricity Connected, Composition
Building Details
Building Size
2,091 SF
Year Built
1975
Listing Agency:
Keller Williams Realty
(806) 777-5122
Listed By:
Jo Anna Harvey · License #0668681
(806) 777-5122
Source:
Kw
Added: Feb 17
Changed: Aug 31
Last Checked: Aug 31 at 12:34AM
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 duplex, located near 82nd in South Lubbock, presents a turn-key investment opportunity. Each unit features 2 bedrooms and 1.5 bathrooms, with approximately 1045 square feet of living space, suitable for comfortable living or rental potential. The generous living rooms feature newly installed carpet and a fireplace that can be used with wood or gas. Primary bedrooms include walk-in closets. The kitchen and dining area offer a combination space with a front-facing window for natural light. A laundry room provides additional convenience. Each side has its own private entrance, a one-car garage with direct access, and a spacious fenced backyard suitable for pets or outdoor activities. Side B includes a new shed that will remain with the unit, providing extra storage options.
Key Highlights
- Turn‑key duplex investment property in South Lubbock.
- Two units, each with 2 bedrooms and 1.5 bathrooms, approximately 1045 SF.
- Each unit has a private entrance, one‑car garage with direct access, and fenced backyard.
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
$18,877
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
8.43%
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%
$377,540
$377.5K
Cap Rate 7%
$269,671
$269.7K
Cap Rate 9%
$209,744
$209.7K
Market Conditions
NOI Build-Up for 2,090 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
$28.8K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$27.0K $12.90/SF
− OpEx
−$8.1K −$3.87/SF
NOI
$18.9K $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%
$377,540
Cap Rate 7%
$269,671
Cap Rate 9%
$209,744
Alternative Uses
Best Use
Multifamily LT 5
$269.7K
$236.0K – $314.6K
NOI $18,877 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$242.1K
$211.9K – $282.5K
NOI $16,950 @ 7.0% cap · market cap 7.57%
Theoretical Best
Office A
$526.9K
$461.0K – $614.7K
NOI $36,883 @ 7.0% cap · market cap 16.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 79423, TX
42,311
Population
18,463
Households
2.3
Avg Household Size
35
Median Age
38%
College-Educated
94%
High-School Grad
64.2 sq mi
ZIP Area
659
Density / Sq Mi
$82,906
Median Household Income
$45,520
Median Earnings
$1,284
Median Rent
$222,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Turn-key duplex with updated units, private entrances, and garages.
Where is this duplex located?
The property is located at 8106 Avenue V Lubbock, TX.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: Turn‑key duplex investment property in South Lubbock.; Two units, each with 2 bedrooms and 1.5 bathrooms, approximately 1045 SF.; Each unit has a private entrance, one‑car garage with direct access, and fenced backyard.
