Residential Income
For Sale
$350,000
1401 Chapel Ridge Road, Waco, TX 76712
MULTI_FAMILY - Waco, TX
Property Size1,200 SF
Lot Size0.20 Acres
Price / SF$291.67
Days on Market33
Property Features for 1401 Chapel Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 1
Parking
4
Parking features
Covered, Alley, Carport
Interior features
CableTv
Fireplace
1
Appliances
Dishwasher
Subdivision
Chapel Acres Estate
Elementary school
Chapel Park
Middle school
River Valley
High school
Midway
Elementary school district
Midway ISD
Middle school district
Midway ISD
High school district
Midway ISD
Directions
Chapel Road to Chapel Ridge. Take right. 5th property(duplex) on left.
Standard status
Active
APN
360089070077033
Lot size
0.20 Acres
Taxes and HOA fees
Tax Description
CHAPEL ACRES EST LOT 14C BLOCK E ACRES .202
Tax Annual Amount
6087
Legal Description
CHAPEL ACRES EST LOT 14C BLOCK E ACRES .202
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Attic Fan, Central Air, Electric
Water source
Public
Building Details
Year built
1984
Floors in Building
1
Number of units
2
Flooring type
Tile, Carpet
Building materials
StoneVeneer
Roof type
Asphalt
Listing Agency:
JA Group Companies
(254) 776-1296
Listed By:
Charles Johnson · License #0218916
(254) 776-1296
Added: Jul 29
Changed: Aug 10
Last Checked: Aug 30 at 4:06AM
MLS# 21342579
Copyright © 2026 North Texas Real Estate Information Systems, Inc. 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 for-sale residential income duplex is located at 1401 Chapel Ridge Road in Waco, Texas (76712). The property is classified as a duplex and multifamily residential income asset, with a lot size of 0.202 acres.
The offering is listed under transaction type “For Sale” in McLennan County. With limited additional details provided, buyers and tenants should plan to review the property directly to confirm the interior configuration, condition, and any unit-specific features prior to moving forward.
The offering is listed under transaction type “For Sale” in McLennan County. With limited additional details provided, buyers and tenants should plan to review the property directly to confirm the interior configuration, condition, and any unit-specific features prior to moving forward.
Key Highlights
- Central heating with electric (heating) system and central air with electric cooling, plus an attic fan
- Fireplace present and stone veneer construction
- Roof is asphalt; flooring includes carpet and tile
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
$10,395
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
2.97%
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%
$207,900
$207.9K
Cap Rate 7%
$148,500
$148.5K
Cap Rate 9%
$115,500
$115.5K
Market Conditions
NOI Build-Up for 1,200 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
$16.3K $13.56/SF
− Vacancy
−$1.4K −$1.19/SF
EGI
$14.8K $12.37/SF
− OpEx
−$4.5K −$3.71/SF
NOI
$10.4K $8.66/SF
Area
Waco, TX
Vacancy
8.74%
Lease Rate
$13.56 /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%
$207,900
Cap Rate 7%
$148,500
Cap Rate 9%
$115,500
Alternative Uses
Best Use
Multifamily LT 5
$148.5K
$129.9K – $173.3K
NOI $10,395 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$136.6K
$119.6K – $159.4K
NOI $9,565 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$316.6K
$277.0K – $369.4K
NOI $22,162 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18,000 VPD
Traffic count
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
Explore this area
Business Placement
Demographics for 76712, TX
27,800
Population
11,704
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
96%
High-School Grad
52.4 sq mi
ZIP Area
531
Density / Sq Mi
$96,267
Median Household Income
$56,879
Median Earnings
$1,333
Median Rent
$302,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - For-sale duplex located at 1401 Chapel Ridge Road on a 0.202-acre lot in Waco, Texas.
Where is this duplex located?
The property is located at 1401 Chapel Ridge Road Waco, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Central heating with electric (heating) system and central air with electric cooling, plus an attic fan; Fireplace present and stone veneer construction; Roof is asphalt; flooring includes carpet and tile
