1113 Preston Trl · Wolfforth, TX 79382

$349,900

6 bd · 4.0 ba · 2,957 sqft · MultiFamily public records · 23 Days on market

Built 2020 6,720 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 +15.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.6/10.0
• Schools +4.4/10.0
• Livability +4.0/5.0
• 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

Brand New Construction. Frenship School District. Each Unit is 3 bedroom, 2 bath, with 2 car garage and 9 ft ceilings!!!! Vinyl Plank flooring throughout with carpet only in the 3 bedrooms and closets. Each unit has a small fenced back yard. Granite counters in kitchen, bar top, and both bathrooms. Double vanity sinks in the master bathroom with large walk-in closet. 2 inch faux wood blinds for window coverings. Storm Doors yet to be installed. All electric discount through SPEC utility company and City of Wolfforth for water utilities. GREAT INVESTMENT PROPERTIES!!!!

Key facts

• Strong rental demand
• Spacious kitchens
• Fully leased duplex

Tags

• FULLY LEASED DUPLEX
• SPACIOUS KITCHENS
• PRIVATE FENCED BACKYARDS
• STRONG RENTAL DEMAND
• CONVENIENT ACCESS TO SHOPPING
• TURNKEY INVESTMENT OPPORTUNITY

Property features AI

Finance

• Financial info: Property used as residential income (multifamily/duplex)

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Duplex residential income property; Single-story; Brick and stone exterior
• Construction: Composition roof; Slab foundation; Built with brick and stone
• Exterior features: Private yard; Fenced backyard; City lot; Paved, public-maintained city street access

Interior

• Kitchen: Disposal; Electric range; Microwave; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: Four full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans (cooling)
• Interior features: Ceiling fans throughout; Granite counters
• Laundry & utility: Washer hookup; Electric dryer hookup; Electric water heater

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/yr) — positive. Per door: $56/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $346k (1.2% below list).
• Recommended offer: $345k (1.5% 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.
• Zoned schools: Bennett El (math 62% / reading 64%, grade B, #300 of 4,322 statewide, top 7%, 876 students, 43% 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; solid renter incomes; 2,219 units permitted in Lubbock County in 2024 (252 in 5+ unit buildings).
• At $3,458/mo this rent would consume 49% 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 $37k of equity ($2k loan paydown + $35k 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 $98k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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 $344,651 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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 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: 0.99% ✗
• Cap rate: 6.68%
• Cash-on-cash: 1.37%
• DSCR: 1.06
• GRM: 8.4

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: 25.3%
• Equity multiple: 3.02×
• Total profit: $197,889
• Equity at exit: $315,218

10-year hold

• IRR: 22.3%
• Equity multiple: 6.89×
• Total profit: $577,479
• Equity at exit: $679,779

Cash invested: $97,972 (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: 16.9×

Monthly cashflow live

• Estimated rent: $3,458 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$639 /mo · $7,667/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$726
• Net cashflow: $112

Break-even live

Break-even rent $3,316

Max offer price $349,900

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,458
Total (2 units)			$3,458

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $349,900 Active 23 DOM
2. 2026-06-17
   days on market $349,900 Active 22 DOM
3. 2026-06-16
   days on market $349,900 Active 21 DOM
4. 2026-06-15
   days on market $349,900 Active 20 DOM
5. 2026-06-13
   days on market $349,900 Active 17 DOM
6. 2026-06-10
   days on market $349,900 Active 15 DOM
7. 2026-06-09
   days on market $349,900 Active 14 DOM
8. 2026-06-08
   days on market $349,900 Active 13 DOM
9. 2026-06-07
   days on market $349,900 Active 12 DOM
10. 2026-06-05
    days on market $349,900 Active 9 DOM
11. 2026-06-03
    days on market $349,900 Active 8 DOM
12. 2026-06-02
    days on market $349,900 Active 7 DOM
13. 2026-06-01
    days on market $349,900 Active 6 DOM
14. 2026-05-31
    days on market $349,900 Active 5 DOM
15. 2026-05-30
    days on market $349,900 Active 4 DOM
16. 2026-05-26
    listed $349,900 Active
17. 2024-01-21
    historical $1,600
18. 2024-01-08
    listed $1,600
19. 2024-01-04
    historical $1,600
20. 2023-11-30
    listed $1,600
21. 2023-11-30
    historical $1,600
22. 2023-11-29
    listed $1,600
23. 2020-11-17
    soldstatus
24. 2020-11-16
    soldstatus 575-char remark

    Show marketing remark (575 chars)

    Brand New Construction. Frenship School District. Each Unit is 3 bedroom, 2 bath, with 2 car garage and 9 ft ceilings!!!! Vinyl Plank flooring throughout with carpet only in the 3 bedrooms and closets. Each unit has a small fenced back yard. Granite counters in kitchen, bar top, and both bathrooms. Double vanity sinks in the master bathroom with large walk-in closet. 2 inch faux wood blinds for window coverings. Storm Doors yet to be installed. All electric discount through SPEC utility company and City of Wolfforth for water utilities. GREAT INVESTMENT PROPERTIES!!!!

25. 2020-10-14
    listed $305,000 575-char remark

    Show marketing remark (575 chars)

    Brand New Construction. Frenship School District. Each Unit is 3 bedroom, 2 bath, with 2 car garage and 9 ft ceilings!!!! Vinyl Plank flooring throughout with carpet only in the 3 bedrooms and closets. Each unit has a small fenced back yard. Granite counters in kitchen, bar top, and both bathrooms. Double vanity sinks in the master bathroom with large walk-in closet. 2 inch faux wood blinds for window coverings. Storm Doors yet to be installed. All electric discount through SPEC utility company and City of Wolfforth for water utilities. GREAT INVESTMENT PROPERTIES!!!!

ⓘ 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: $7,667 · $639/mo
• Projected year-2 tax: $7,667 · $639/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: $41,496
• − Mortgage interest: −$19,600
• − Property taxes: −$7,667
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,320
• − Management: −$3,320
• − Depreciation: −$10,179
• Taxable loss: −$4,338
• Est. tax savings @ 24.0%: +$1,041
• After-tax cash flow: $2,388/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

+14.7% since first listed

10 events — show timeline

• 2026-05-26 Listed $349,900 LARMLS
• 2024-01-21 Rental Removed $1,600 APPFOLIO
• 2024-01-08 Listed for Rent $1,600 APPFOLIO
• 2024-01-04 Rental Removed $1,600 LARMLS
• 2023-11-30 Listed for Rent $1,600 LARMLS
• 2023-11-30 Rental Removed $1,600 APPFOLIO
• 2023-11-29 Listed for Rent $1,600 APPFOLIO
• 2020-11-17 Sold (Public Records) — Public Records
• 2020-11-16 Sold (MLS) — LARMLS
• 2020-10-14 Listed $305,000 LARMLS

Property tax history

+30.9%/yr

Latest (2025): $7,667 · +1.6% YoY. Source: county tax records.