10 12 14 16 20 Addi Lane, Waco, TX 76705
- Added:
- Sep 26, 2025
- Days on Market:
- 266
- Last Refresh:
- Jun 18 at 5:06 pm
Property Features for 10 12 14 16 20 Addi Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Garage
- Interior features
- Loft
- Appliances
- Dishwasher, ElectricOven, Microwave, Refrigerator
- Standard status
- Active
- APN
- 356922
- Lot size
- 0.65 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Ceiling Fan(s), Electric
- Water source
- Public
Building Details
- Year built
- 2007
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Tile, Carpet
- Building materials
- Brick
- Roof type
- Composition
Listing agent Kolbey Carpenter License #715403 (254) 300-5101
Listing office Classic Realty Waco, TX (254) 300-5101
Listing date Sep 26, 2025
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
- Five townhomes in the same complex: three 3 bed/2 bath units and two 1 bed/1 bath units
- 3 bed/2 bath units are each 1,520 SF; 1 bed/1 bath units are each 738 SF
- All units have a new roof as of July 2025
- Units are kept occupied; tenant pays all utilities
- Four units are in long‑term leases and one unit is MTM
- Townhomes built in 2007 with brick construction and central heating and central air
Overview
The property is located near I-35, TSTC Technical College, and Downtown Waco, providing convenient access for both tenants and visitors. If you are evaluating current income and stability, please request the rent roll and financials from the listing agent.
With occupied units and tenant-paid utilities already in place, this complex is well suited for multifamily investors seeking steady cash flow with a value-add opportunity. Prospective owners should review the rent roll, lease terms, and in-place unit economics to confirm upside and underwriting assumptions.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $96.3k | $15.96 |
| − Vacancy | −$8.9k | −$1.47 |
| EGI | $87.5k | $14.49 |
| − OpEx | −$39.4k | −$6.52 |
| NOI | $48.1k | $7.97 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Waco
- County
- McLennan
- State
- Texas
- Longitude
- -97.104916
- Latitude
- 31.640542
