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    Newly Built Duplex Investment Title is generated by Realmo AI

    1510 N 7TH Street, Waco, TX 76707

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    Claim this Listing
    For Sale
    $424,000

    MULTI_FAMILY - Waco, TX

    Lot size:
    0.19 Acres
    Added:
    Apr 29, 2026
    Days on Market:
    36
    Last Refresh:
    Jun 3 at 6:06 am

    Property Features for 1510 N 7TH Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Property condition
    Under Construction
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 2
    Parking
    4
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Interior features
    WalkInClosets
    Fencing
    Privacy
    Appliances
    Dishwasher, ElectricOven, ElectricWaterHeater, Refrigerator
    Standard status
    Active
    APN
    166022
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Description
    BURLESON M F Lot 8 Block 15 Acres .1882
    Tax Annual Amount
    515

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Central
    Cooling system
    Electric, Ceiling Fan(s), Central Air
    Water source
    Public

    Building Details

    Year built
    2026
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Concrete
    Building materials
    Brick, Concrete, WoodSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Robert Pfenninger

    Listing agent Robert Pfenninger License #0782395

    Listing office Bridge Realty Waco, TX

    Listing date Apr 29, 2026

    MLS# 21180407 Listing URL

    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.

    HighLights

    • Duplex under construction, year built 2026
    • 3 bedrooms and 2 bathrooms per side (6 total bedrooms, 4 total bathrooms)
    • Stained concrete flooring throughout and tiled showers
    • Appliances include dishwasher, electric oven, electric water heater, and refrigerator
    • Central air plus electric heating; ceiling fans and electric systems
    • Public water and public sewer; driveway parking and porch; privacy fencing

    Overview

    This newly built duplex offers a straightforward, low-maintenance layout with 3 bedrooms and 2 bathrooms on each side. The interior is finished with modern LED lighting, stained concrete flooring, and tiled showers, creating a clean, durable look intended to reduce upkeep. Each unit includes electric appliances and electric systems, aligning the property with a practical ownership profile for long-term rental management.

    Located in Waco, the duplex is positioned to support a consistent rental base while keeping operations relatively simple. With a compact lot size and a duplex configuration, the property is built for owners seeking a manageable investment rather than a larger, more complex multi-family structure.

    For investors, this is a solid option when you want a newly constructed duplex with finishes that can help minimize routine maintenance. For house hackers, the two independent sides offer flexibility for owner-occupancy alongside tenant rental income. Schedule a walkthrough to see the layout and finishes in person and confirm how the property fits your investment approach.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.146409
    Latitude
    31.564319

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    FAQs

    What type of property is this?
    Duplex - A newly built duplex designed for low-maintenance rentals or a house hack, with modern finishes on both sides.
    Where is this duplex located?
    The property is located at 1510 N 7TH Street Waco, TX.
    What is the asking price?
    The asking price for this property is $424,000.
    What are key features of this property?
    This property features: Duplex under construction, year built 2026; 3 bedrooms and 2 bathrooms per side (6 total bedrooms, 4 total bathrooms); Stained concrete flooring throughout and tiled showers
    (254) 300-5017
    We can help!
    Listing Contact
    Robert Pfenninger
    Real Estate License ID: 0782395
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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