1221 Preston Trl · Wolfforth, TX 79382

$380,000

6 bd · 4.0 ba · 2,800 sqft · MultiFamily public records · 613 Days on market

Built 2022 6,720 sqft lot ↓ 11% since listing

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +11.8/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Calling all investors! Check out this great opportunity to add a newer duplex with established tenants to your portfolio. Located in Wolfforth with award-winning Frenship schools nearby, this location is desirable for any investor. May be purchased individually or as a package with 1215, 1217, 1221, 1223, and 1225 Preston Tr. Call today for more details!

Key facts

• Newer duplex
• Desirable location
• 6,720 sq ft lot

Tags

• NEWER DUPLEX
• DESIRABLE LOCATION
• AWARD-WINNING FRENSHIP SCHOOLS

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $380k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative. Per door: $-53/mo.
• To cash-flow at today's rent, offer at most $361k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $339k (10.7% below list).
• Recommended offer: $334k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#43 in TX, #1,872 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Frenship ISD (urban): math 47% / reading 54% proficiency, ranked #162 of 826 in TX (top 20%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 472 active listings in the ZIP; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,394/mo this rent would consume 48% of the median local household income ($84k/yr) (locally 135% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $41k of equity ($3k loan paydown + $38k appreciation (10.0% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$65k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 613 days — a 12% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $334,400 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 613 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.4%
• Equity multiple: 2.88×
• Total profit: $200,334
• Equity at exit: $342,334

10-year hold

• IRR: 20.9%
• Equity multiple: 6.60×
• Total profit: $595,576
• Equity at exit: $738,256

Cash invested: $106,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 79382

• Active inventory: 472
• Price-to-rent: 18.7×

Monthly cashflow live

• Estimated rent: $3,394 high
• Mortgage (P&I): −$1,993
• Tax from tax record: −$637 /mo · $7,638/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $-106

Break-even live

Break-even rent $3,529

Max offer price $361,209

Occupancy floor 98%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,394
Total (2 units)			$3,394

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $95,000
• Closing costs: $11,400
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-11
   status Pending 356-char remark

   Show marketing remark (356 chars)

   Calling all investors! Check out this great opportunity to add a newer duplex with established tenants to your portfolio. Located in Wolfforth with award-winning Frenship schools nearby, this location is desirable for any investor. May be purchased individually or as a package with 1215, 1217, 1221, 1223, and 1225 Preston Tr. Call today for more details!

2. 2024-09-05
   listed $380,000 Active 356-char remark

   Show marketing remark (356 chars)

   Calling all investors! Check out this great opportunity to add a newer duplex with established tenants to your portfolio. Located in Wolfforth with award-winning Frenship schools nearby, this location is desirable for any investor. May be purchased individually or as a package with 1215, 1217, 1221, 1223, and 1225 Preston Tr. Call today for more details!

3. 2024-04-28
   historical $1,500
4. 2024-04-12
   listed $1,500
5. 2024-04-10
   historical
6. 2024-04-03
   listed
7. 2024-03-14
   historical
8. 2023-12-19
   listed
9. 2023-03-03
   price $429,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $7,638 · $637/mo
• Projected year-2 tax: $7,638 · $637/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,728
• − Mortgage interest: −$21,286
• − Property taxes: −$7,638
• − Insurance: −$1,900
• − Repairs & maintenance: −$3,258
• − Management: −$3,258
• − Depreciation: −$11,055
• Taxable loss: −$7,667
• Est. tax savings @ 24.0%: +$1,840
• After-tax cash flow: $564/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Frenship ISD
• NCES district ID: 4819830
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 54% ▬ 0.00%
• Median HH income: $54,376
• Composite: 43.59/100
• National rank: #2976
• State rank: #162 of 826 in TX

Livability — Wolfforth

• Score: 80/100
• State rank: #43
• US rank: #1872

Category grades

Amenities F Commute F Cost of living A+ Crime A- Employment B- Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wolfforth, TX
• County: Lubbock County · 293,542 people
• City population: 10,512
• Metro: Lubbock, TX
• Population (ZIP): 10,512
• Household income: $84,457
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 135.0

Population outlook (Lubbock County) Hauer SSP2

• Today (2025): 345,960 people
• By 2030: 371,449 · +7.4%
• By 2040: 424,539 · +22.7%
• By 2050: 481,150 · +39.1%
• By 2075: 633,467 · +83.1%
• By 2100: 746,853 · +115.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 31% Two or more races 18% Black 1%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Italian 4% Slovak 2% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 85% English-only · Spanish 14%

Political lean MEDSL · Lubbock

• 2024 margin: Solid R (+39.5) · D 29.7% · R 69.2% · Other 1.0%
• 2008→2024 swing: -2.8pp toward R · 2008: -36.7pp · 2024: -39.5pp
• All cycles: 2024: R+39.5 2020: R+32.2 2016: R+38.4 2012: R+40.9 2008: R+36.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 166.08%
• Current HPI: 561.4491
• Rent YoY: —
• Metro: Lubbock, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-11.4% since first listed

9 events — show timeline

• 2026-05-11 Pending — LARMLS
• 2024-09-05 Listed $380,000 LARMLS
• 2024-04-28 Rental Removed $1,500 APPFOLIO
• 2024-04-12 Listed for Rent $1,500 APPFOLIO
• 2024-04-10 Rental Removed — APPFOLIO
• 2024-04-03 Listed for Rent — APPFOLIO
• 2024-03-14 Rental Removed — APPFOLIO
• 2023-12-19 Listed for Rent — APPFOLIO
• 2023-03-03 Price Changed $429,000 LARMLS

Property tax history

+26.3%/yr

Latest (2025): $7,638 · +1.6% YoY. Source: county tax records.