Add Listing
    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

    3204 N 24th Street Waco, TX 76708

    View on Map
    Claim this Listing
    For Sale
    $525,000

    Multiple Single Units - Waco, TX

    Lot size:
    0.20 Acres
    Added:
    Dec 8, 2025
    Days on Market:
    138
    Last Refresh:
    Apr 25 at 6:06 am

    Property Features for 3204 N 24th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Parking
    5
    Parking features
    Carport
    Interior features
    Built-in Features, Cable Tv Available
    Appliances
    Dryer, Microwave, Range, Refrigerator
    Standard status
    Active
    APN
    480289000170003
    Lot size
    0.20 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Central, Electric (Heating)
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1923
    Floors in Building
    1
    Flooring type
    Vinyl, Wood
    Roof type
    Composition, Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Kenneth Castello

    Listing agent Kenneth Castello License #0683066

    Listing office Weichert, Realtors - The Eastland Group 5015 Lakewood Dr., Waco, TX

    Listing date Dec 8, 2025

    MLS# 21126701 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.

    Overview

    Waco Multifamily Investment Opportunity

    Located in the heart of North Waco, this 4-unit multifamily property presents an investment opportunity. Situated on the corner of N 24th Street and Edna Avenue, the property offers stable income and strong rental demand. It also provides easy access to nearby schools, shopping, and major employers. Each unit is individually metered and designed for low-maintenance operation. The property, located on Melbourne Hts Block P, Lots 8 & 9, consists of 0.201 acres. Each unit is furnished and includes a stove and refrigerator. The property presents a compelling long-term hold or value-add opportunity. It provides multiple income streams in one prime location. Legal description: MELBOURNE HTS Block P, Lots 8 & 9 (0.2032 + 0.2008 acres).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.17475
    Latitude
    31.57169

    Nearby Similar for Sale

    • $525,000

      Waco Office Building For Sale

      High-visibility commercial building in Waco, near New Road and Bosque.
      1311 N New Road, Waco, TX 76710
      View Details
    • $1,150,000

      Landmark Office Building on Waco

      Prominent office building with unmatched visibility and modern amenities.
      3901 W Waco Drive, Waco, TX 76710
      View Details
    • $650,000
      3,246 SF

      Spacious Ranch Home with Acreage

      Ranch-style home on 16.73 acres near Waco, Texas.
      12145 Tree Lake Drive, Waco, TX 76708
      View Details
    • $420,000

      Former Daycare on Memorial Drive

      Versatile property with multiple lots, ideal for redevelopment.
      4306 Memorial Drive, Waco, TX 76711
      View Details
    • $325,000

      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
      2000 N 25th Street, Waco, TX 76708
      View Details
    • $349,999

      Waco Retail Property Opportunity

      Versatile commercial space with development potential in Waco, Texas.
      1501 Herring Avenue, Waco, TX 76708
      View Details
    • $399,900
      2,402 SF

      New Duplex in Waco, TX

      New construction duplex with strong cash flow potential in Waco.
      3407 Pewitt Drive, Waco, TX 76706
      View Details
    • $519,000

      Waco Duplex Near Baylor University

      Well-maintained duplex near Baylor, offering strong rental income potential.
      309 Gurley Lane, Waco, TX 76706
      View Details
    • $899,000

      Income Property Near Baylor University

      Fully furnished income property near Baylor, expansion potential on 0.55-acre lot.
      3008 S 3rd Street, Waco, TX 76706
      View Details
    • $384,000
      2,752 SF

      New Construction Duplex in Waco

      New duplex with modern finishes, ideal for investors or owner-occupants.
      1509 N 11th Street, Waco, TX 76707
      View Details
    • $999,000

      Historic Church in Waco, Texas

      Historic church with architectural beauty, suitable for worship and community.
      629 S 8th Street, Waco, TX 76706
      View Details
    • $339,499
      2,116 SF

      New Brick Duplex in Waco

      Turnkey duplex near Waco attractions, designed for cash flow.
      1126 N 11th Street, Waco, TX 76707
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in North Waco with strong rental demand.
    Where is this quadplex located?
    The property is located at 3204 N 24th Street Waco, TX.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Stable income‑producing 4‑unit multifamily property in high‑demand rental area.; Turnkey investment with each unit furnished and equipped with stove and refrigerator.; Individually metered units designed for low‑maintenance operation.
    (254) 235-5015
    We can help!
    Listing Contact
    Kenneth Castello
    Real Estate License ID: 0683066
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!