602 15th St · Wolfforth, TX 79382

$258,995

4 bd · 2.0 ba · 1,727 sqft · Land · 10 Days on market

Built 2026 5,175 sqft lot

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Why this score? — see what drove the D+ 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 +12.3/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Listing remarks

Welcome to 602 15 Street! The Easton is a single-story home that offers 1,727 square feet of living space, a two-car garage, four bedrooms and two bathrooms. When you enter the home, a long foyer will take you past the three spare bedrooms, extra bathroom and utility room, into the dining room and open kitchen. The kitchen features a large island facing the dining room, that is perfect for entertaining guests, a large walk-in pantry and stainless-steel appliances throughout. The family room offers lots of natural lighting with windows open to the spacious covered patio. Bedroom one is at the back of the home, just off the family room, and it features great natural lighting from the backyard

Key facts

• Natural lighting
• Large island
• Single-story home

Tags

• SINGLE-STORY HOME
• LARGE ISLAND
• WALK-IN PANTRY
• STAINLESS-STEEL APPLIANCES
• NATURAL LIGHTING
• SPACIOUS COVERED PATIO

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces; Driveway
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer; Electricity available; Cable available; Phone available
• Home design: Single family residence (new construction / under construction); One story; Brick and stone exterior; Slab foundation; Composition roof; City street frontage; Paved public-maintained road
• Construction: New construction / under construction; Brick and stone construction; Built on slab; Composition roof
• Exterior features: Private yard; Sprinklers in front; Covered patio

Interior

• Kitchen: Range; Free-standing range; Dishwasher; Disposal; Microwave; Tankless water heater
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Electric cooling; Ceiling fan(s)
• Interior features: Ceiling fans; Granite counters; Kitchen island; Pantry; Walk-in closets; Carbon monoxide detector(s); Smoke detector(s)
• Laundry & utility: Tankless water heater

🏗️ 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 4-bed/2.0-bath land listed at $259k.

Deal economics

• At list price, monthly cash flow is $-49 ($-590/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (3.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (27.3% below list).
• Recommended offer: $188k (27.3% 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: Bennett El (math 62% / reading 64%, grade B, #300 of 4,322 statewide, top 7%, 876 students, 43% 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: 474 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $28k of equity ($2k loan paydown + $26k 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 $73k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $188,352 (27.3% 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.73% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 11.5

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: 23.7%
• Equity multiple: 2.90×
• Total profit: $137,799
• Equity at exit: $233,323

10-year hold

• IRR: 21.0%
• Equity multiple: 6.63×
• Total profit: $408,005
• Equity at exit: $503,170

Cash invested: $72,519 (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: 474
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,884 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$71 /mo · $852/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $-49

Break-even live

Break-even rent $1,946

Max offer price $250,315

Occupancy floor 98%

Sensitivity live

Price	-10% $97	-5% $24	+0% $-49	+5% $-122	+10% $-196
Rent	-10% $-198	-5% $-124	+0% $-49	+5% $25	+10% $100
Rate	-1.0pp $81	-0.5pp $17	base $-49	+0.5pp $-116	+1.0pp $-185

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: $64,749
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 14th St Wolfforth, TX	4.0	3.0	1850	$2,200	$1.19	15d	1	0.21mi
811 11th St Wolfforth, TX	3.0	2.0	1523	$1,595	$1.05	45d	1	0.32mi
906 11th St Wolfforth, TX	3.0	2.0	1731	$2,000	$1.16	45d	1	0.42mi
304 E 19th St Wolfforth, TX	3.0	2.0	1114	$1,150	$1.03	15d	1	0.44mi
1313 Corpus Ave Unit B Wolfforth, TX	3.0	2.0	1550	$1,850	$1.19	15d	1	0.60mi
2001 Bryan Ave Unit B Wolfforth, TX	3.0	2.0	1360	$1,400	$1.03	45d	1	0.60mi
2418 Aberdeen Ave Wolfforth, TX	3.0	2.0	1450	$1,799	$1.24	45d	1	0.62mi
2408 Aberdeen Ave Wolfforth, TX	4.0	2.0	1703	$2,100	$1.23	23d	1	0.62mi
1817 Corpus Ave Wolfforth, TX	3.0	2.0	1405	$1,600	$1.14	15d	1	0.64mi
2011 Bryan Ave Wolfforth, TX	3.0	2.0	1350	$1,450	$1.07	45d	1	0.64mi
407 E 21st St Wolfforth, TX	3.0	2.0	1360	$1,399	$1.03	23d	1	0.65mi
2008 Bryan Ave Unit Harvest-2008 A Bryan Wolfforth, TX	3.0	2.0	1223	$1,400	$1.14	45d	1	0.65mi
2001 Corpus Ave Unit 2001 B Corpus Wolfforth, TX	3.0	2.0	1350	$1,500	$1.11	23d	1	0.66mi
2001 Corpus Ave Unit B Wolfforth, TX	3.0	2.0	1316	$1,500	$1.14	15d	1	0.66mi
2304 Corpus Ave Wolfforth, TX	3.0	2.0	1316	$1,425	$1.08	45d	1	0.67mi
2006 Corpus Ave Unit A Wolfforth, TX	3.0	2.0	1223	$1,425	$1.17	15d	1	0.70mi
2008 Cottonwood Ave Wolfforth, TX	3.0	2.0	1450	$1,810	$1.25	45d	1	0.71mi
723 E 17th St Wolfforth, TX	3.0	2.0	1670	$1,800	$1.08	45d	1	0.78mi
611 E 14th St Wolfforth, TX	3.0	2.0	1299	$1,725	$1.33	45d	1	0.78mi
1503 Good Prairie Ave Wolfforth, TX	4.0	2.5	2173	$2,450	$1.13	23d	1	0.83mi
127 Brooke Blvd Wolfforth, TX	3.0	2.5	1714	$1,757	$1.03	15d	2	0.96mi
405 Ranger St Wolfforth, TX	4.0	2.0	1866	$2,450	$1.31	15d	1	1.08mi
2916 Corpus Ave Wolfforth, TX	3.0	2.0	1657	$1,800	$1.09	45d	1	1.09mi
328 Ranger St Wolfforth, TX	4.0	2.0	2045	$2,450	$1.20	15d	1	1.12mi
209 Sooner St Wolfforth, TX	3.0	2.0	1951	$1,875	$0.96	45d	1	1.33mi

Listing history 2 events

1. 2026-05-07
   status Pending 865-char remark
2. 2026-04-27
   listed $258,995 Active 865-char remark

ⓘ 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: $852 · $71/mo
• Projected year-2 tax: $4,740 · $395/mo
• Expected delta: +$3,888/yr (+$324/mo · 456.3%)

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

Taxation est. · year 1

• Rental income: $22,602
• − Mortgage interest: −$14,508
• − Property taxes: −$852
• − Insurance: −$1,295
• − Repairs & maintenance: −$1,808
• − Management: −$1,808
• − Depreciation: −$7,534
• Taxable loss: −$5,203
• Est. tax savings @ 24.0%: +$1,249
• After-tax cash flow: $659/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

3 events — show timeline

• 2026-06-01 Sold (MLS) — LARMLS
• 2026-05-07 Pending — LARMLS
• 2026-04-27 Listed $258,995 LARMLS