Duplex with Private
For Sale
$365,000
2009 Corpus Ave, Wolfforth, TX 79382
Each residence includes a garage, open floor plan, and private yard within Frenship ISD.
Property Size2,720 SF
Price / SF$134.19
Days on Market88
Property Features for 2009 Corpus Ave
General Information
Standard status
Active
Size
2,720 SF
Property subtype
Multi-Family
Amenities
private yards
Building Details
Year Built
2023
Listing Agency:
AMRR Realty
Listed By:
Jennifer Busbea · License #0614398
(806) 577-7228
Source:
Raftercrossrealty
Added: Jul 20
Changed: Oct 2
Last Checked: Oct 7 at 12:58PM
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.
Built in 2023, this duplex provides 2,720 square feet across two residential units. Each unit includes three bedrooms, two bathrooms, a garage, an open floor plan, and a private yard. The property is located in Wolfforth and falls within Frenship ISD.
Key Highlights
- 2023 construction
- 2,720 square feet
- Two duplex units
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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Current Use
Location Intelligence
Trade Area within ½ mile
30
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence includes a garage, open floor plan, and private yard within Frenship ISD.
Where is this duplex located?
The property is located at 2009 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: 2023 construction; 2,720 square feet; Two duplex units
