Fully Leased Duplex Investment
1113 Preston Trail, Wolfforth, TX 79382
New
MULTI_FAMILY - Other - Wolfforth, TX
Property size:
2,957 SFLot size:
0.15 AcresPrice / SF:
$118/SF- Added:
- May 26, 2026
- Days on Market:
- 2
- Last Refresh:
- May 27 at 2:06 pm
Property Features for 1113 Preston Trail
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bathroom 4
- Parking features
- Garage
- Interior features
- Ceiling Fan(s), Granite Counters
- Exterior features
- Private Yard
- Fencing
- Fenced
- Appliances
- Disposal, Electric Range, Microwave, Refrigerator
- Standard status
- Active
- APN
- R325470
- Size
- 2,957 SF
- Lot size
- 0.15 Acres
Taxes and HOA fees
- Tax Description
- Preston Trails L 17
- Tax Annual Amount
- 7667
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2020
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Brick, Stone
- Roof type
- Composition
- Architectural style
- Other
Listing agent Kyndall Lemaire License #0752140 (432) 788-0121
Listing office Tapp Realty Group, eXp Realty 5601 114th Street, Lubbock, TX (806) 993-8277
Listing date May 26, 2026
MLS# 202607054
Listing URL
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.
HighLights
- Fully leased duplex provides immediate cash flow and strong investment potential.
- Located in the highly sought‑after Frenship Independent School District.
- Each unit features 3 bedrooms, 2 bathrooms, and a 2‑car garage.
- Both units have private, fenced backyards.
- Spacious kitchens with ample cabinet and counter space and open floor plans.
- Built in 2020 with brick and stone construction.
Overview
This fully leased duplex at 1113 Preston Trail in Wolfforth, TX, offers immediate cash flow and strong investment potential. Each side features 3 bedrooms, 2 bathrooms, and a 2-car garage. The property provides a desirable layout that attracts long-term tenants. Spacious kitchens offer ample cabinet and counter space, while the open floor plans create comfortable living areas for residents. Both units include private, fenced backyards, adding value and privacy for tenants. Located in the Frenship Independent School District, this property benefits from strong rental demand and convenient access to shopping, dining, and major thoroughfares. The property size is 2957 square feet and the lot size is 0.15 acres. With both sides currently rented and producing income, this is a turnkey investment opportunity. This income-producing property is fully occupied and located in a high-demand area.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$296.8K
NOI $26,708 @ 9.00% cap · cautious / downside scenario
Moderate
$381.5K
NOI $26,708 @ 7.00% cap · market / base-case scenario
Aggressive
$534.2K
NOI $26,708 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.8k | $13.80 |
| − Vacancy | −$2.7k | −$0.90 |
| EGI | $38.2k | $12.90 |
| − OpEx | −$11.4k | −$3.87 |
| NOI | $26.7k | $9.03 |
2,957 SF · lease $13.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$381.5K
$333.9K – $445.1K
NOI $26,708 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$342.6K
$299.8K – $399.7K
NOI $23,981 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$745.5K
$652.3K – $869.7K
NOI $52,183 @ 7.0% cap · market cap 14.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Map
- City
- Wolfforth
- County
- Lubbock
- State
- Texas
- Longitude
- -101.994772
- Latitude
- 33.527369
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turnkey duplex in Frenship ISD, offering immediate cash flow.
Where is this duplex located?
The property is located at 1113 Preston Trail Wolfforth, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Fully leased duplex provides immediate cash flow and strong investment potential.; Located in the highly sought‑after Frenship Independent School District.; Each unit features 3 bedrooms, 2 bathrooms, and a 2‑car garage.
