New Duplex Investment
For Sale
$365,000
2006 Corpus Ave, Wolfforth, TX 79382
Newly built duplex units offer 3-bedroom, 2-bath layouts with garages, open floorplans, and private yards.
Property Size2,720 SF
Price / SF$134.19
Days on Market96
Property Features for 2006 Corpus Ave
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
garage
open floorplan
private yards
Building Details
Year Built
2023
Tenancy
Multi
Listing Agency:
AMRR Realty
Listed By:
Jennifer Busbea · License #0614398
(806) 577-7228
Source:
Raftercrossrealty
Added: Jul 26
Changed: Oct 25
Last Checked: Oct 7 at 5:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AMRR Realty
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Investment Insights
Based on property information with market context.
This for-sale duplex property features newly built units designed for residential rental use. Each unit provides three bedrooms and two bathrooms, along with a garage, an open floorplan, and a private yard.
The property is located in Wolfforth within Frenship ISD.
With two separate duplex units on the site, the configuration provides multiple income-producing residences in a school-district setting.
The property is located in Wolfforth within Frenship ISD.
With two separate duplex units on the site, the configuration provides multiple income-producing residences in a school-district setting.
Key Highlights
- Newly built duplex units (Year Built: 2023) in Wolfforth
- Each unit offers a 3‑bedroom, 2‑bath layout
- Private garages included with each duplex unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,567
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,340
$491.3K
Cap Rate 7%
$350,957
$351.0K
Cap Rate 9%
$272,967
$273.0K
Market Conditions
NOI Build-Up for 2,720 SF
Gross rent
$37.5K $13.80/SF
− Vacancy
−$2.4K −$0.90/SF
EGI
$35.1K $12.90/SF
− OpEx
−$10.5K −$3.87/SF
NOI
$24.6K $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 Rate 5%
$491,340
Cap Rate 7%
$350,957
Cap Rate 9%
$272,967
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,567 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$315.1K
$275.7K – $367.7K
NOI $22,059 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$685.7K
$600.0K – $800.0K
NOI $48,000 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
30
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
Frequently Asked Questions
What type of property is this?
Duplex - Newly built duplex units offer 3-bedroom, 2-bath layouts with garages, open floorplans, and private yards.
Where is this duplex located?
The property is located at 2006 Corpus Ave 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: Newly built duplex units (Year Built: 2023) in Wolfforth; Each unit offers a 3‑bedroom, 2‑bath layout; Private garages included with each duplex unit
