Duplex with Private
For Sale
$365,000
2009 Corpus Avenue, Wolfforth, TX 79382
Residential Income, Wolfforth, TX
Property Size2,507 SF
Lot Size0.17 Acres
Price / SF$145.59
Days on Market357
Property Features for 2009 Corpus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
Driveway
Interior features
Ceiling Fan(s), Granite Counters, Pantry
Fencing
Fenced
Appliances
Dishwasher, Electric Range, Microwave
Elementary school
Upland Heights
Middle school
Frenship
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
7
Standard status
Active
APN
R346329
Size
2,507 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Harvest L 143
Tax Annual Amount
8630
Legal Description
Harvest L 143
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Ceiling Fan(s), Electric
Amenities
garage
private yards
Building Details
Year built
2023
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition
Architectural style
Other
Listing Agency:
AMRR Realty
(806) 642-6488
Listed By:
Jennifer Busbea · License #0614398
(806) 577-7228
Added: Sep 19, 2025
Changed: Sep 9
Last Checked: Sep 10 at 4:06PM
MLS# 202560789
Copyright © 2026 Lubbock Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2023, this duplex contains two residential units with a combined property size of 2,507 square feet. Each unit offers 3 bedrooms, 2 bathrooms, an open floorplan, a garage, and a private fenced yard. Interior finishes include granite counters, vinyl flooring, ceiling fans, and pantry storage, while appliances include a dishwasher, electric range, and microwave. Central electric heating and cooling serve the units, and the exterior is finished in brick beneath a composition roof.
The property occupies 0.17 acres at 2009 Corpus Avenue in Wolfforth, Texas, within Frenship ISD. Driveway parking is provided, with fencing around the property.
The property occupies 0.17 acres at 2009 Corpus Avenue in Wolfforth, Texas, within Frenship ISD. Driveway parking is provided, with fencing around the property.
Key Highlights
- Duplex built in 2023
- Each unit includes 3 bedrooms and 2 bathrooms
- Combined property size of 2,507 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,643
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,860
$452.9K
Cap Rate 7%
$323,471
$323.5K
Cap Rate 9%
$251,589
$251.6K
Market Conditions
NOI Build-Up for 2,507 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$34.6K $13.80/SF
− Vacancy
−$2.2K −$0.90/SF
EGI
$32.3K $12.90/SF
− OpEx
−$9.7K −$3.87/SF
NOI
$22.6K $9.03/SF
Area
Lubbock County, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$452,860
Cap Rate 7%
$323,471
Cap Rate 9%
$251,589
Alternative Uses
Best Use
Multifamily LT 5
$323.5K
$283.0K – $377.4K
NOI $22,643 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$290.5K
$254.2K – $338.9K
NOI $20,332 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$632.0K
$553.0K – $737.4K
NOI $44,242 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 79382, TX
8,449
Population
3,649
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
92%
High-School Grad
51.1 sq mi
ZIP Area
165
Density / Sq Mi
$80,625
Median Household Income
$47,419
Median Earnings
$1,349
Median Rent
$245,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two contemporary units in Frenship ISD feature three-bedroom layouts, attached garages, fenced yards, and open living areas.
Where is this duplex located?
The property is located at 2009 Corpus Avenue Wolfforth, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Duplex built in 2023; Each unit includes 3 bedrooms and 2 bathrooms; Combined property size of 2,507 square feet
