Income-Producing
For Sale
$308,000
Pending
1115 Preston Trail, Wolfforth, TX 79382
Residential Income, Wolfforth, TX
Property Size2,957 SF
Lot Size0.15 Acres
Days on Market15
Property Features for 1115 Preston Trail
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 4, Bedroom 2
Parking features
Garage
Window features
Window Coverings
Interior features
Ceiling Fan(s), Double Vanity, Granite Counters, Pantry, Quartz Counters, Smart Thermostat, Storage, Walk-In Closet(s)
Exterior features
Private Yard
Fireplace
1
Appliances
Electric Range, Microwave, Refrigerator
Elementary school
Ridgewood
Middle school
Alcove Trails
High school
Frenship
Elementary school district
Frenship ISD
Middle school district
Frenship ISD
High school district
Frenship ISD
Subdivision
Wolfforth
Standard status
Pending
APN
R325471
Size
2,957 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Description
Preston Trails L 18
Tax Annual Amount
7657
Legal Description
Preston Trails L 18
Utilities
Heating system
Electric (Heating)
Cooling system
Electric
Amenities
fireplace
fenced backyard
Building Details
Year built
2020
Flooring type
Carpet, Vinyl
Building materials
Brick
Roof type
Composition
Additional Structures
Storage
Listing Agency:
WestMark Companies
(806) 794-6000
Listed By:
Joy Daniel · License #0525754
(806) 535-1206
Added: Oct 1
Changed: Oct 5
Last Checked: Oct 15 at 11:06PM
MLS# 202613564
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.
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Investment Insights
Based on property information with market context.
Built in 2020, this brick duplex contains 2,957 square feet across two mirrored residences. Each side has three bedrooms, two bathrooms, an attached two-car garage, a living area with a fireplace, and a fenced backyard. Interior features include walk-in closets, double vanities, pantry storage, and vinyl and carpet flooring. One residence is vacant; the other is leased through October 31, 2027.
The 0.15-acre property is 0.2 miles from a planned United Supermarket location, scheduled to open in early 2027. The vacant side can accommodate an occupant or a new tenant, while the leased unit provides an existing rental arrangement.
The 0.15-acre property is 0.2 miles from a planned United Supermarket location, scheduled to open in early 2027. The vacant side can accommodate an occupant or a new tenant, while the leased unit provides an existing rental arrangement.
Key Highlights
- Two mirrored residences, each with 3 bedrooms and 2 bathrooms
- 2,957 square feet on a 0.15‑acre lot
- Built in 2020 with brick construction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,708
Cap Rate
8.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,160
$534.2K
Cap Rate 7%
$381,543
$381.5K
Cap Rate 9%
$296,756
$296.8K
Market Conditions
NOI Build-Up for 2,957 SF
Gross rent
$40.8K $13.80/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$38.2K $12.90/SF
− OpEx
−$11.4K −$3.87/SF
NOI
$26.7K $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 Rate 5%
$534,160
Cap Rate 7%
$381,543
Cap Rate 9%
$296,756
Alternative Uses
Best Use
Multifamily LT 5
$381.5K
$333.9K – $445.1K
NOI $26,708 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$342.6K
$299.8K – $399.7K
NOI $23,981 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$745.5K
$652.3K – $869.7K
NOI $52,183 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
117
Businesses Nearby
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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
Frequently Asked Questions
What type of property is this?
Duplex - One residence is vacant, while the other is leased through October 31, 2027.
Where is this duplex located?
The property is located at 1115 Preston Trail Wolfforth, TX.
What is the asking price?
The asking price for this property is $308,000.
What are key features of this property?
This property features: Two mirrored residences, each with 3 bedrooms and 2 bathrooms; 2,957 square feet on a 0.15‑acre lot; Built in 2020 with brick construction
