2-Unit Duplex with
For Sale
$250,000
9607 Avenue X, Lubbock, TX 79423
Residential Income, Lubbock, TX
Property Size2,178 SF
Lot Size0.23 Acres
Price / SF$114.78
Days on Market12
Property Features for 9607 Avenue X
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bathroom 3, Bathroom 4
Parking features
On Street, Driveway, Garage
Interior features
Breakfast Bar, Ceiling Fan(s), Eat-in Kitchen, Storage, Walk-In Closet(s)
Exterior features
Private Yard
Fencing
Gate, Fenced
Fireplace
1
Elementary school district
Lubbock ISD
Middle school district
Lubbock ISD
High school district
Lubbock ISD
Subdivision
6
Standard status
Active
APN
R90261
Size
2,178 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Description
Bicentennial Est L 120
Tax Annual Amount
3625
Legal Description
Bicentennial Est L 120
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas, Fireplace(s), Central
Cooling system
Gas (Cooling), Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
1995
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Tile, Carpet
Building materials
Brick
Roof type
Composition
Additional Structures
Storage
Listing Agency:
Keller Williams Realty
(806) 771-7710
Listed By:
Whitney Pendergrass · License #0750583
(806) 549-0015
Added: Aug 18
Changed: Aug 19
Last Checked: Aug 29 at 1:06PM
MLS# 202611543
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.
The property contains two residential units totaling 2,178 square feet. Each side includes two bedrooms, two bathrooms, and a 2-car garage. Interior features include eat-in kitchens, breakfast bars, storage, walk-in closets, ceiling fans, and a mix of carpet, tile, and vinyl flooring. Central heating and cooling, natural-gas heat, and fireplaces are also provided. One unit has new flooring, and both backyards feature new fencing.
Built in 1995, the duplex occupies a 0.23-acre lot at 9607 Avenue X in Lubbock. The property includes private fenced yards with gates, along with garage, driveway, and on-street parking. Public water and public sewer serve the site. One unit is occupied by a long-term tenant.
Built in 1995, the duplex occupies a 0.23-acre lot at 9607 Avenue X in Lubbock. The property includes private fenced yards with gates, along with garage, driveway, and on-street parking. Public water and public sewer serve the site. One unit is occupied by a long-term tenant.
Key Highlights
- Two units totaling 2,178 square feet, with 2 bedrooms and 2 bathrooms per unit
- Each unit includes a 2‑car garage
- One unit has new flooring; both backyards have new fencing
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
$19,672
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
7.87%
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%
$393,440
$393.4K
Cap Rate 7%
$281,029
$281.0K
Cap Rate 9%
$218,578
$218.6K
Market Conditions
NOI Build-Up for 2,178 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
$30.1K $13.80/SF
− Vacancy
−$2.0K −$0.90/SF
EGI
$28.1K $12.90/SF
− OpEx
−$8.4K −$3.87/SF
NOI
$19.7K $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%
$393,440
Cap Rate 7%
$281,029
Cap Rate 9%
$218,578
Alternative Uses
Best Use
Multifamily LT 5
$281.0K
$245.9K – $327.9K
NOI $19,672 @ 7.0% cap · market cap 7.87%
Second Best
Apartment 5plus
$252.3K
$220.8K – $294.4K
NOI $17,663 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$549.1K
$480.5K – $640.6K
NOI $38,436 @ 7.0% cap · market cap 15.37%
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
121
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
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Frequently Asked Questions
What type of property is this?
Duplex - Brick duplex with fenced private yards, functional layouts, and public water and sewer service.
Where is this duplex located?
The property is located at 9607 Avenue X Lubbock, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Two units totaling 2,178 square feet, with 2 bedrooms and 2 bathrooms per unit; Each unit includes a 2‑car garage; One unit has new flooring; both backyards have new fencing
