Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3008 S 3Rd St Waco, TX 76706

    Sponsored
    For Sale
    $966,000

    Multiple Single Units - Waco, TX

    Lot size:
    0.55 Acres
    Days on Market:
    4
    Last Refresh:
    Feb 15 at 9:06 am

    Property Features for 3008 S 3Rd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    6
    APN
    480210000010009
    Parking
    5
    Patio and Porch features
    Patio, Porch
    Interior features
    Decorative Lighting, Eat-in Kitchen, Granite Counters, High Speed Internet Available, In-law Suite Floorplan, Smart Home System, Vaulted Ceiling(s), Walk-in Closet(s), Second Primary Bedroom
    Exterior features
    Covered Patio/Porch, Fence
    Fencing
    Fenced
    Appliances
    Cooktop, Cooktop - Electric, Dishwasher, Dryer, Garbage Disposer, Microwave, Refrigerator, Washer
    Lot size
    0.55 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    2023
    Floors in Building
    2
    Flooring type
    Tile, Tile - Ceramic, Vinyl
    Building materials
    Board & Batten Siding
    Roof type
    Composition
    Architectural style
    Other

    We can help!

    Listing Contact
    Tiffanye Harrell

    Coldwell Banker Apex, REALTORS (254) 776-0000

    Listing agent Tiffanye Harrell (254) 776-0000 License #0673632

    Listing date Feb 12, 2026

    MLS# 21178226 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.

    Learn more

    Property Insight Report

    Overview

    Income Property Near Baylor University

    This income-producing property is located near Baylor University. The main home includes 4 bedrooms, each with a private ensuite bath, plus a half bath. A separate 1 bed, 1 bath casita provides additional rental income potential. Each bedroom is furnished with a full-size bed, nightstand, desk, and custom closet organizers. The kitchen features granite countertops, stainless steel appliances, and bar stools. All appliances convey, including a refrigerator, washer, and dryer. The home includes foam insulation and 2x6 exterior wall construction. Additional features include a Ring security system, a sprinkler system, and 5 dedicated parking spaces. The property is fenced and features an iron gate with keypad entry. Situated on a 0.55 acre lot, zoned R-1B (short-term rental eligible), this property offers expansion potential. The property is currently leased at $1,000 per bedroom, with tenants sharing utilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.101132
    Latitude
    31.53497

    Nearby Similar for Sale

    • $1,500,000
      2,684 SF

      36-Acre Brazos River Ranch

      Texas ranch featuring river frontage, pastures, and a brick home.
      203 River Ln, Waco, TX 76708
      View Details
    • $965,000
      0.19 Acres

      Spacious Duplex Near Baylor University

      Duplex near Baylor, converted to single-family with student rental potential.
      1915 S 7Th St, Waco, TX 76706
      View Details
    • New
      $679,000
      0.19 Acres

      Furnished Duplex Near Baylor Campus

      Turnkey duplex near Baylor, operating as successful short-term rentals.
      1903 S 11Th St, Waco, TX 76706
      View Details
    • $679,990
      1,556 SF

      Waco 5-Acre Multi-Home Property

      5-acre Waco property with three homes, barn, and shed.
      979 Old Mexia Rd, Waco, TX 76705
      View Details
    • $420,000
      0.34 Acres

      Former Daycare on Memorial Drive

      Versatile property with multiple lots, ideal for redevelopment.
      4306 Memorial Dr, Waco, TX 76711
      View Details
    • $700,000
      3,246 SF

      Spacious Ranch Home with Acreage

      Ranch-style home on 16.73 acres near Waco, Texas.
      12145 Tree Lake Dr, Waco, TX 76708
      View Details
    • $1,100,000
      5.95 Acres

      Equipped Church on Highway 77

      Fully equipped church with classrooms, offices, and ample parking.
      2801 Robinson Dr, Waco, TX 76706
      View Details
    • $1,950,000
      3,684 SF

      Waco Ranch with Prime Pasture

      Ranch-style home on 84+ acres near Loop 340.
      4843 S 3Rd St Rd, Waco, TX 76706
      View Details
    • New
      $1,600,000
      0.13 Acres

      Waco Event Center Opportunity

      Historic event center near downtown Waco available for sale.
      520 Elm St, Waco, TX 76704
      View Details
    • $3,950,000
      0.34 Acres

      Downtown Waco Retail Investment Opportunity

      Prime retail building in high-traffic Waco downtown location.
      611 Washington Ave, Waco, TX 76701
      View Details
    • $1,250,000
      0.41 Acres

      Landmark Office Building on Waco

      Iconic office building with unmatched visibility and modern amenities.
      3901 W Waco Dr, Waco, TX 76710
      View Details
    • New
      $422,900
      2,710 SF

      New Construction Duplex in Waco

      New duplex in Waco with strong rental income potential.
      1509 N 11Th St, Waco, TX 76707
      View Details

    FAQs

    What type of property is this?
    Single family property - Furnished income property near Baylor. Expansion potential on 0.55 acres.
    Where is this single family property located?
    The property is located at 3008 S 3Rd St Waco, TX.
    What is the asking price?
    The asking price for this property is $966,000.
    What are key features of this property?
    This property features: - High Income Potential: Leased at $1,000 per bedroom with tenant-paid utilities, plus income from a separate casita.; - Expansion Potential: Large 0.55 acre lot zoned R-1B allows for duplicating the existing structure.; - Fully Furnished & Turnkey: Each bedroom is fully furnished, appealing to student renters.
    (254) 339-0865
    Request Owner's contact information
    3008 S 3Rd St Waco, TX 76706
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3008 S 3Rd St
    Waco, TX 76706
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    3008 S 3Rd St Waco, TX 76706
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tiffanye Harrell
    Real Estate License ID: 0673632
    (254) 339-0865 (254) 776-0000
    Learn more
    Google sign-in failed. Please try again or use another login method.