Duplex with Attached
For Sale
$285,000
9706 Avenue U, Lubbock, TX 79423
Two occupied residences offer open living areas, private fenced yards, and attached garage parking in South Lubbock.
Property Size2,529 SF
Price / SF$112.69
Days on Market230
Property Features for 9706 Avenue U
General Information
Standard status
Active
Size
2,529 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,826
Amenities
open-concept living area
vaulted ceilings
corner brick fireplace
wrap-around breakfast bar
attached garage
fully fenced backyard
Listing Agency:
Keller Williams Realty
(864) 353-9731
Listed By:
Han Li · License #0739511
(864) 353-9731
Source:
Exprealty
Added: Jan 14
Changed: Aug 31
Last Checked: Aug 31 at 5:52PM
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.
Located at 9706 Avenue U in South Lubbock, this duplex contains 2,529 square feet and is configured as two separate residences. Each unit provides a 3-bedroom, 2-bathroom floor plan with an open living arrangement, vaulted ceilings, a corner brick fireplace, and a wrap-around breakfast bar. Attached garages serve both sides of the property.
Each residence also has its own fully fenced backyard, adding private outdoor space to the unit layouts. The property is currently occupied, and showings require 24 hours' notice. Both units present the same three-bedroom configuration, supporting a consistent layout across the duplex.
Each residence also has its own fully fenced backyard, adding private outdoor space to the unit layouts. The property is currently occupied, and showings require 24 hours' notice. Both units present the same three-bedroom configuration, supporting a consistent layout across the duplex.
Key Highlights
- 2,529‑square‑foot duplex at 9706 Avenue U, Lubbock, TX
- Two units, each with 3 bedrooms and 2 bathrooms
- Attached garage serving each unit
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
$22,842
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
8.01%
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%
$456,840
$456.8K
Cap Rate 7%
$326,314
$326.3K
Cap Rate 9%
$253,800
$253.8K
Market Conditions
NOI Build-Up for 2,529 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
$34.9K $13.80/SF
− Vacancy
−$2.3K −$0.90/SF
EGI
$32.6K $12.90/SF
− OpEx
−$9.8K −$3.87/SF
NOI
$22.8K $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%
$456,840
Cap Rate 7%
$326,314
Cap Rate 9%
$253,800
Alternative Uses
Best Use
Multifamily LT 5
$326.3K
$285.5K – $380.7K
NOI $22,842 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$293.0K
$256.4K – $341.8K
NOI $20,510 @ 7.0% cap · market cap 7.20%
Theoretical Best
Office A
$637.6K
$557.9K – $743.8K
NOI $44,630 @ 7.0% cap · market cap 15.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
142
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 - Two occupied residences offer open living areas, private fenced yards, and attached garage parking in South Lubbock.
Where is this duplex located?
The property is located at 9706 Avenue U Lubbock, TX.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 2,529‑square‑foot duplex at 9706 Avenue U, Lubbock, TX; Two units, each with 3 bedrooms and 2 bathrooms; Attached garage serving each unit
