Duplex with Private
For Sale
$325,000
1011 Preston Trails, Wolfforth, TX 79382
MULTI_FAMILY - Wolfforth, TX
Property Size2,800 SF
Lot Size0.15 Acres
Price / SF$116.07
Days on Market52
Property Features for 1011 Preston Trails
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 1, Bedroom 5, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 6, Bathroom 2
Parking features
Garage, Driveway, Open
Window features
Blinds, Screens
Patio and Porch features
Porch
Interior features
Ceiling Fan(s), Double Vanity, Granite Counters, Primary Downstairs
Exterior features
Private Yard
Appliances
Electric Oven, Electric Range, Microwave
Lot features
Back Yard
Elementary school
Bennett
Middle school
Frenship
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
Wolfforth
Standard status
Active
APN
R325459
Size
2,800 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Preston Trails L 6
Tax Annual Amount
6657
Legal Description
Preston Trails L 6
Utilities
Sewer type
Public Sewer
Heating system
Central, Natural Gas
Cooling system
Ceiling Fan(s), Central Air
Water source
Public
Building Details
Year built
2022
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Building materials
Brick
Roof type
Composition
Listing Agency:
Aycock Realty Group, LLC
(806) 778-5956
Listed By:
Beth Wylie · License #0777416
(405) 435-1534
Added: Jul 9
Changed: Aug 3
Last Checked: Aug 29 at 7:06PM
MLS# 202609493
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.
This duplex offers two mirrored residences, each with three bedrooms and two bathrooms. Built in 2022, the homes feature vinyl flooring and include interior touches such as ceiling fans, double vanity, granite counters, and a primary bedroom located downstairs. Kitchens are equipped with an electric oven, electric range, and microwave. Heating is provided by central natural gas, with central air and ceiling fans for cooling.
The property sits on a 0.15-acre lot and totals 2,800 square feet. Brick construction with a composition roof supports a straightforward exterior layout including a porch, private yard space, and fenced back yards. Parking is available via driveway access with garage and open parking options. Public water and public sewer services are in place.
The combination of recent construction, functional interior finishes, and outdoor privacy makes this duplex well suited for an owner seeking a two-unit residential income property.
The property sits on a 0.15-acre lot and totals 2,800 square feet. Brick construction with a composition roof supports a straightforward exterior layout including a porch, private yard space, and fenced back yards. Parking is available via driveway access with garage and open parking options. Public water and public sewer services are in place.
The combination of recent construction, functional interior finishes, and outdoor privacy makes this duplex well suited for an owner seeking a two-unit residential income property.
Key Highlights
- Built in 2022 brick duplex with composition roof
- Two units, each with 3 bedrooms and 2 bathrooms
- 2,800 square feet total on a 0.15‑acre lot
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
$25,290
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
7.78%
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%
$505,800
$505.8K
Cap Rate 7%
$361,286
$361.3K
Cap Rate 9%
$281,000
$281.0K
Market Conditions
NOI Build-Up for 2,800 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
$38.6K $13.80/SF
− Vacancy
−$2.5K −$0.90/SF
EGI
$36.1K $12.90/SF
− OpEx
−$10.8K −$3.87/SF
NOI
$25.3K $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%
$505,800
Cap Rate 7%
$361,286
Cap Rate 9%
$281,000
Alternative Uses
Best Use
Multifamily LT 5
$361.3K
$316.1K – $421.5K
NOI $25,290 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$324.4K
$283.9K – $378.5K
NOI $22,708 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$705.9K
$617.7K – $823.5K
NOI $49,412 @ 7.0% cap · market cap 15.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
136
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained 2022 duplex offering private yards and two 3-bedroom, 2-bath homes with central HVAC.
Where is this duplex located?
The property is located at 1011 Preston Trails Wolfforth, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Built in 2022 brick duplex with composition roof; Two units, each with 3 bedrooms and 2 bathrooms; 2,800 square feet total on a 0.15‑acre lot
