2302 Corpus Ave · Wolfforth, TX 79382

$187,000

3 bd · 2.0 ba · 1,200 sqft · SingleFamily · 27 Days on market

Built 2026 4,150 sqft lot ↓ 4% 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 +12.1/30.0
• 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
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Buy NOW and get up to $7,000 Use-It-Your-Way CASH! This home offers a timeless brick and vinyl exterior with a welcoming covered front entry. Inside, luxury vinyl plank flooring flows through the common areas, leading to an open-concept kitchen and living area. The kitchen boasts granite or quartz countertops, a spacious island with bar seating, stainless steel appliances, and an enclosed pantry for added convenience. Premium plumbing and lighting fixtures elevate the home's style. The secluded master suite features a walk-in closet, creating an idyllic retreat.

Key facts

• Spacious island
• Open-concept kitchen
• Covered front entry

Tags

• BRICK AND VINYL EXTERIOR
• COVERED FRONT ENTRY
• LUXURY VINYL PLANK FLOORING
• OPEN-CONCEPT KITCHEN
• SPACIOUS ISLAND
• STAINLESS STEEL APPLIANCES

🏗️ 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 $187k.

Deal economics

• At list price, monthly cash flow is $-40 ($-480/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (3.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (15.2% below list).
• Recommended offer: $159k (15.2% 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; 17 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 + $19k 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 27 days — a 2% lower offer ($184k) is reasonable based on typical stale-listing flexibility.

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 $158,517 (15.2% 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: 0.85% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 9.8

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: 23.6%
• Equity multiple: 2.90×
• Total profit: $99,319
• Equity at exit: $168,464

10-year hold

• IRR: 21.0%
• Equity multiple: 6.63×
• Total profit: $294,532
• Equity at exit: $363,300

Cash invested: $52,360 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,585 high
• Mortgage (P&I): −$981
• Tax est. 1.5%: −$234 /mo · $2,805/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $-40

Break-even live

Break-even rent $1,636

Max offer price $181,207

Occupancy floor 98%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2008 Cottonwood Ave Wolfforth, TX	3.0	2.0	1450	$1,810	$1.25	43d	1	0.01mi
2304 Corpus Ave Wolfforth, TX	3.0	2.0	1316	$1,425	$1.08	43d	1	0.03mi
1817 Corpus Ave Wolfforth, TX	3.0	2.0	1405	$1,600	$1.14	13d	1	0.06mi
2001 Corpus Ave Unit 2001 B Corpus Wolfforth, TX	3.0	2.0	1350	$1,500	$1.11	21d	1	0.07mi
2001 Corpus Ave Unit B Wolfforth, TX	3.0	2.0	1316	$1,500	$1.14	13d	1	0.07mi
2006 Corpus Ave Unit A Wolfforth, TX	3.0	2.0	1223	$1,425	$1.17	13d	1	0.07mi
2008 Bryan Ave Unit Harvest-2008 A Bryan Wolfforth, TX	3.0	2.0	1223	$1,400	$1.14	43d	1	0.11mi
2001 Bryan Ave Unit B Wolfforth, TX	3.0	2.0	1360	$1,400	$1.03	43d	1	0.12mi
1712 Corpus Ave Wolfforth, TX	2.0	2.0	1335	$1,375	$1.03	43d	1	0.13mi
2011 Bryan Ave Wolfforth, TX	3.0	2.0	1350	$1,450	$1.07	43d	1	0.15mi
2418 Aberdeen Ave Wolfforth, TX	3.0	2.0	1450	$1,799	$1.24	43d	1	0.17mi
407 E 21st St Wolfforth, TX	3.0	2.0	1360	$1,399	$1.03	21d	1	0.17mi
304 E 19th St Wolfforth, TX	3.0	2.0	1114	$1,150	$1.03	13d	1	0.27mi
611 E 14th St Wolfforth, TX	3.0	2.0	1299	$1,725	$1.33	43d	1	0.49mi
127 Brooke Blvd Wolfforth, TX	3.0	2.5	1714	$1,757	$1.03	13d	2	1.07mi
7456 104th St Lubbock, TX	3.0	2.0	1460	$1,700	$1.16	43d	1	1.38mi
7449 104th St Lubbock, TX	3.0	2.0	1481	$1,625	$1.10	21d	1	1.38mi

Listing history 3 events

1. 2026-03-15
   status Pending
2. 2026-03-06
   price $187,000
3. 2026-02-12
   listed $194,000 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥99°F today · 21 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,022
• − Mortgage interest: −$10,475
• − Property taxes: −$2,805
• − Insurance: −$935
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$5,440
• Taxable loss: −$3,676
• Est. tax savings @ 24.0%: +$882
• After-tax cash flow: $402/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

-3.6% since first listed

3 events — show timeline

• 2026-03-15 Pending — LARMLS
• 2026-03-06 Price Changed $187,000 LARMLS
• 2026-02-12 Listed $194,000 LARMLS