512 E 24th St · Wolfforth, TX 79382

$184,000

3 bd · 2.0 ba · 1,100 sqft · SingleFamily · 25 Days on market

Built 2026 4,250 sqft lot

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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 +12.5/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

Key facts

• Covered entry
• Modern kitchen
• Island

Tags

• BRICK AND VINYL EXTERIOR
• COVERED ENTRY
• OPEN CONCEPT LAYOUT
• LUXURY VINYL PLANK FLOORING
• MODERN KITCHEN
• ISLAND

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $184k.

Deal economics

• At list price, monthly cash flow is $-27 ($-329/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $157k (14.4% below list).
• Recommended offer: $157k (14.4% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Upland Heights El (math 49% / reading 55%, grade C-, #742 of 4,322 statewide, top 19%, 840 students, 46% FRL); Frenship Middle (math 46% / reading 50%, grade C-, #400 of 1,662 statewide, top 24%, 833 students, 47% FRL); Frenship H S (math 44% / reading 65%, grade C-, #379 of 1,632 statewide, top 26%, 3,247 students, 46% FRL).
• Market conditions: 472 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Lubbock County population projected at +39% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($181k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $157,492 (14.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.64%
• DSCR: 0.97
• GRM: 9.7

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: 23.8%
• Equity multiple: 2.91×
• Total profit: $98,490
• Equity at exit: $165,762

10-year hold

• IRR: 21.2%
• Equity multiple: 6.66×
• Total profit: $291,457
• Equity at exit: $357,472

Cash invested: $51,520 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$965
• Tax est. 1.5%: −$230 /mo · $2,760/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $-27

Break-even live

Break-even rent $1,610

Max offer price $180,036

Occupancy floor 97%

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
407 E 21st St Wolfforth, TX	3.0	2.0	1360	$1,399	$1.03	21d	1	0.19mi
2418 Aberdeen Ave Wolfforth, TX	3.0	2.0	1450	$1,799	$1.24	43d	1	0.20mi
2011 Bryan Ave Wolfforth, TX	3.0	2.0	1350	$1,450	$1.07	43d	1	0.22mi
2008 Bryan Ave Unit Harvest-2008 A Bryan Wolfforth, TX	3.0	2.0	1223	$1,400	$1.14	43d	1	0.25mi
2001 Bryan Ave Unit B Wolfforth, TX	3.0	2.0	1360	$1,400	$1.03	43d	1	0.26mi
2006 Corpus Ave Unit A Wolfforth, TX	3.0	2.0	1223	$1,425	$1.17	13d	1	0.29mi
2001 Corpus Ave Unit 2001 B Corpus Wolfforth, TX	3.0	2.0	1350	$1,500	$1.11	21d	1	0.29mi
2001 Corpus Ave Unit B Wolfforth, TX	3.0	2.0	1316	$1,500	$1.14	13d	1	0.29mi
1817 Corpus Ave Wolfforth, TX	3.0	2.0	1405	$1,600	$1.14	13d	1	0.32mi
304 E 19th St Wolfforth, TX	3.0	2.0	1114	$1,150	$1.03	13d	1	0.33mi
2304 Corpus Ave Wolfforth, TX	3.0	2.0	1316	$1,425	$1.08	43d	1	0.34mi
2008 Cottonwood Ave Wolfforth, TX	3.0	2.0	1450	$1,810	$1.25	43d	1	0.37mi
1712 Corpus Ave Wolfforth, TX	2.0	2.0	1335	$1,375	$1.03	43d	1	0.45mi
611 E 14th St Wolfforth, TX	3.0	2.0	1299	$1,725	$1.33	43d	1	0.83mi
127 Brooke Blvd Wolfforth, TX	3.0	2.5	1714	$1,757	$1.03	13d	2	1.35mi

Listing history 22 events

1. 2026-06-18
   days on market $184,000 Active 25 DOM
2. 2026-06-17
   days on market $184,000 Active 24 DOM
3. 2026-06-16
   days on market $184,000 Active 23 DOM
4. 2026-06-15
   days on market $184,000 Active 22 DOM
5. 2026-06-13
   pricedays on market $184,000 Active 19 DOM
6. 2026-06-10
   statusdays on market $199,330 Active 17 DOM
7. 2026-05-22
   price $199,330 356-char remark

   Show marketing remark (356 chars)

   The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

8. 2026-05-21
   status Active 356-char remark

   Show marketing remark (356 chars)

   The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

9. 2026-05-12
   historical 356-char remark

   Show marketing remark (356 chars)

   The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

10. 2026-05-10
    status Active 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

11. 2026-05-10
    price $200,330 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

12. 2026-04-27
    status Pending
13. 2026-04-26
    historical 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

14. 2026-04-16
    status Active 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

15. 2026-04-16
    price $194,330 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

16. 2026-04-16
    historical 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

17. 2026-04-13
    price $200,330 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

18. 2026-04-11
    listed $199,330 Active
19. 2026-04-10
    price $194,330 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

20. 2026-03-17
    price $199,330 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

21. 2026-02-12
    price $194,230 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

22. 2025-11-19
    listed $189,230 Active 356-char remark

    Show marketing remark (356 chars)

    The 1,100 square-foot Kathleen floor plan is a smart, efficient layout with open living spaces that just make sense. Brick and vinyl exterior with covered entryLuxury vinyl plank flooring in main areasOpen-concept kitchen, living, and dining areaKitchen islandGranite or quartz countertopsStainless steel appliancesPrivate primary suite with walk-in closet

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

Taxation est. · year 1

• Rental income: $18,899
• − Mortgage interest: −$10,307
• − Property taxes: −$2,760
• − Insurance: −$920
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − Depreciation: −$5,353
• Taxable loss: −$3,464
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $503/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

+5.3% since first listed

16 events — show timeline

• 2026-05-22 Price Changed $199,330 Zillow
• 2026-05-21 Relisted — Zillow
• 2026-05-12 Delisted — Zillow
• 2026-05-10 Price Changed $200,330 Zillow
• 2026-05-10 Relisted — Zillow
• 2026-04-27 Pending — LARMLS
• 2026-04-26 Delisted — Zillow
• 2026-04-16 Relisted — Zillow
• 2026-04-16 Price Changed $194,330 Zillow
• 2026-04-16 Delisted — Zillow
• 2026-04-13 Price Changed $200,330 Zillow
• 2026-04-11 Listed $199,330 LARMLS
• 2026-04-10 Price Changed $194,330 Zillow
• 2026-03-17 Price Changed $199,330 Zillow
• 2026-02-12 Price Changed $194,230 Zillow
• 2025-11-19 Listed $189,230 Zillow