Updated Triplex with 9
For Sale
$825,000
1708 S 9th Street, Waco, TX 76706
ResidentialIncome, Waco, TX
Property Size4,399 SF
Lot Size0.21 Acres
Price / SF$187.54
Days on Market47
Property Features for 1708 S 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bedroom 6, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 4, Bedroom 5, Bedroom 2, Bathroom 5, Bathroom 6, Bathroom 1, Bathroom 2
Parking
9
Parking features
Off Street
Security features
Security
Interior features
GraniteCounters, OpenFloorplan, CableTv
Fencing
Fenced
Appliances
Dryer, Dishwasher, ElectricCooktop, ElectricOven, ElectricRange, ElectricWaterHeater, Disposal, Microwave, Refrigerator, Washer
Subdivision
48BAYLRB.1
Lot features
Cleared
Elementary school
South Waco
Middle school
Cesar Chavez
High school
University
Elementary school district
Waco ISD
Middle school district
Waco ISD
High school district
Waco ISD
Directions
Take Exit 334 - 17th & 18th St (US-77). Turn left onto S. 17th St. Drive approximately 0.8 miles to Bagby Ave, turn right. Continue on Bagby Ave for about 0.3 miles, then turn left onto S. 9th St. Continue to 1708 S. 9th St, which will be on your left in the Baylor University area.
Standard status
Active
APN
161971
Size
4,399 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Description
BAGBY Lot 12 Block 7 Acres .2066
Legal Description
BAGBY Lot 12 Block 7 Acres .2066
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Central
Cooling system
Central Air, Multi Units, Electric, Ceiling Fan(s)
Water source
Public
Building Details
Year built
2000
Floors in Building
2
Number of units
3
Flooring type
Concrete, Carpet
Building materials
Brick
Roof type
Composition
Listing Agency:
Paramount Realty & Management
(254) 855-4908
Listed By:
Mary Rodriguez · License #0744946
(254) 495-3898
Added: Aug 5
Changed: Sep 17
Last Checked: Sep 20 at 4:06AM
MLS# 21350650
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 4,399-square-foot triplex, built in 2000, contains three residential units with a consistent three-bedroom, two-bathroom configuration. The interiors include open floor plans, granite countertops, carpet and concrete flooring, and updated finishes. Each residence is equipped with a kitchen appliance package that includes an electric cooktop, oven, range, dishwasher, microwave, refrigerator, disposal, and electric water heater, along with a washer and dryer. Central heating and cooling serve the property, with zoned heating and multiple cooling units noted. Brick construction, a composition roof, fencing, public water, and public sewer complete the core property improvements.
The property is located at 1708 S 9th Street in Waco, within the area surrounding Baylor University. Downtown Waco, Magnolia Market at the Silos, shopping, dining, and coffee shops are identified nearby. Off-street parking provides on-site vehicle accommodation, while the three-unit layout creates a defined residential income property configuration.
The property is located at 1708 S 9th Street in Waco, within the area surrounding Baylor University. Downtown Waco, Magnolia Market at the Silos, shopping, dining, and coffee shops are identified nearby. Off-street parking provides on-site vehicle accommodation, while the three-unit layout creates a defined residential income property configuration.
Key Highlights
- Three units, each with 3 bedrooms and 2 full bathrooms
- 4,399 square feet on 0.2066 acres
- Updated interiors with granite countertops and open floor plans
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
$38,106
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
4.62%
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%
$762,120
$762.1K
Cap Rate 7%
$544,371
$544.4K
Cap Rate 9%
$423,400
$423.4K
Market Conditions
NOI Build-Up for 4,399 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
$59.7K $13.56/SF
− Vacancy
−$5.2K −$1.19/SF
EGI
$54.4K $12.37/SF
− OpEx
−$16.3K −$3.71/SF
NOI
$38.1K $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%
$762,120
Cap Rate 7%
$544,371
Cap Rate 9%
$423,400
Alternative Uses
Best Use
Multifamily LT 5
$544.4K
$476.3K – $635.1K
NOI $38,106 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$500.9K
$438.3K – $584.4K
NOI $35,062 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,241 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 76706, TX
39,303
Population
16,600
Households
2.4
Avg Household Size
27
Median Age
23%
College-Educated
85%
High-School Grad
72.3 sq mi
ZIP Area
544
Density / Sq Mi
$42,277
Median Household Income
$23,954
Median Earnings
$1,063
Median Rent
$180,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three updated three-bedroom residences provide six bathrooms, functional layouts, and shared access to off-street parking.
Where is this triplex located?
The property is located at 1708 S 9th Street Waco, TX.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 2 full bathrooms; 4,399 square feet on 0.2066 acres; Updated interiors with granite countertops and open floor plans
