Leased Duplex with Rear-Entry
For Sale
$259,000
912 N Bangor Ave, Lubbock, TX 79416
Two-unit duplex each offering 3 bedrooms, 3 full baths, and private fenced backyards with rear-entry two-car garages.
Property Size2,732 SF
Price / SF$94.80
Days on Market50
Property Features for 912 N Bangor Ave
General Information
Standard status
Active
Size
2,732 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Building Details
Year Built
2004
Tenancy
Multi
Listing Agency:
United Realty, LLC
Listed By:
LaDonna Sanchez
Source:
Raftercrossrealty
Added: Jul 21
Changed: Aug 12
Last Checked: Sep 8 at 12:13PM
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 United Realty, LLC
Investment Insights
Based on property information with market context.
This duplex at 912 N Bangor Ave, Lubbock, TX 79416 is designed for resident privacy and parking convenience, with a private fenced backyard for each unit and a 2-car rear-entry garage. Both Unit A and Unit B offer 3 bedrooms and 3 full bathrooms, supporting a consistent layout across the property.
The property is positioned near Texas Tech University, Lubbock Christian University, and area hospitals. Unit A is currently leased at $1,225 per month with a move-in date of July 17, 2026. Unit B is leased at $1,199 per month with a move-in date of July 15, 2026, and both units are vacant until their scheduled move-in dates.
The property is positioned near Texas Tech University, Lubbock Christian University, and area hospitals. Unit A is currently leased at $1,225 per month with a move-in date of July 17, 2026. Unit B is leased at $1,199 per month with a move-in date of July 15, 2026, and both units are vacant until their scheduled move-in dates.
Key Highlights
- 2004‑built North Lubbock duplex with two units
- Each unit features 3 bedrooms, 3 full bathrooms, and a private fenced backyard
- Both units include a 2‑car rear‑entry garage
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
$22,156
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%
$443,120
$443.1K
Cap Rate 7%
$316,514
$316.5K
Cap Rate 9%
$246,178
$246.2K
Market Conditions
NOI Build-Up for 2,732 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
$42.9K $15.72/SF
− Vacancy
−$2.7K −$0.97/SF
EGI
$40.3K $14.75/SF
− OpEx
−$18.1K −$6.64/SF
NOI
$22.2K $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%
$443,120
Cap Rate 7%
$316,514
Cap Rate 9%
$246,178
Alternative Uses
Best Use
Multifamily LT 5
$352.5K
$308.5K – $411.3K
NOI $24,676 @ 7.0% cap · market cap 9.53%
Second Best
Apartment 5plus
$316.5K
$277.0K – $369.3K
NOI $22,156 @ 7.0% cap · market cap 8.55%
Theoretical Best
Office A
$688.7K
$602.7K – $803.5K
NOI $48,212 @ 7.0% cap · market cap 18.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 79416, TX
36,251
Population
16,094
Households
2.3
Avg Household Size
30
Median Age
39%
College-Educated
93%
High-School Grad
32.1 sq mi
ZIP Area
1,129
Density / Sq Mi
$65,200
Median Household Income
$34,258
Median Earnings
$1,269
Median Rent
$196,900
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 - Two-unit duplex each offering 3 bedrooms, 3 full baths, and private fenced backyards with rear-entry two-car garages.
Where is this duplex located?
The property is located at 912 N Bangor Ave Lubbock, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: 2004‑built North Lubbock duplex with two units; Each unit features 3 bedrooms, 3 full bathrooms, and a private fenced backyard; Both units include a 2‑car rear‑entry garage
