Brick Duplex with Fenced
For Sale
$369,000
1008 Briar Drive Unit A & B, Waco, TX 76710
Two matching residences offer three bedrooms, two bathrooms, tile flooring, and private outdoor space on each side.
Property Size2,530 SF
Price / SF$145.85
Days on Market1261
Property Features for 1008 Briar Drive Unit A & B
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,036
Amenities
Central Air, Electric
3
Dishwasher, Refrigerator, Range, Oven
Composition
Patio, Covered, Deck
R-2
Parking. Deck.
Paved Driveway, No Parking, On Street.
Brick Trim/Veneer
Dog Run, Rain Gutters, Garden.
Building Details
Year Built
2006
Buildings
1
Construction
brick
Listing Agency:
Keller Williams Realty, Waco
(254) 751-7900
Listed By:
Marcia Bennett · License #566187
(254) 744-2299
Source:
Xome
Added: Mar 19, 2023
Changed: Aug 30
Last Checked: Aug 30 at 2:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty, Waco
Investment Insights
Based on property information with market context.
Built in 2006, this brick duplex contains 2,530 square feet and is arranged as two matching residences. Each unit includes three bedrooms, two bathrooms, a den, kitchen, dining area, utility room, and an attached garage with an electric opener. Tile flooring runs throughout, with no carpet, and each side includes central air, a dishwasher, refrigerator, range, and oven.
The property occupies a cul-de-sac setting in Waco’s Parkdale Elementary area, with access to a paved driveway and outdoor areas at the rear. Each residence has a fenced backyard, while the oversized side yard provides additional open space. A utility easement crosses the side yard and restricts permanent structures. R-2 zoning is also identified for the property, which is near Richland Mall and the Waco Family Y.
The property occupies a cul-de-sac setting in Waco’s Parkdale Elementary area, with access to a paved driveway and outdoor areas at the rear. Each residence has a fenced backyard, while the oversized side yard provides additional open space. A utility easement crosses the side yard and restricts permanent structures. R-2 zoning is also identified for the property, which is near Richland Mall and the Waco Family Y.
Key Highlights
- Duplex contains 2,530 square feet and was built in 2006
- Two matching units, each with 3 bedrooms and 2 bathrooms
- Each residence includes a den, kitchen, dining area, utility room, and garage
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
$21,916
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
5.94%
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%
$438,320
$438.3K
Cap Rate 7%
$313,086
$313.1K
Cap Rate 9%
$243,511
$243.5K
Market Conditions
NOI Build-Up for 2,530 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
$34.3K $13.56/SF
− Vacancy
−$3.0K −$1.19/SF
EGI
$31.3K $12.37/SF
− OpEx
−$9.4K −$3.71/SF
NOI
$21.9K $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%
$438,320
Cap Rate 7%
$313,086
Cap Rate 9%
$243,511
Alternative Uses
Best Use
Multifamily LT 5
$313.1K
$274.0K – $365.3K
NOI $21,916 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$288.1K
$252.1K – $336.1K
NOI $20,165 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$667.5K
$584.1K – $778.7K
NOI $46,724 @ 7.0% cap · market cap 12.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 76710, TX
24,874
Population
12,391
Households
2
Avg Household Size
38
Median Age
32%
College-Educated
92%
High-School Grad
9.3 sq mi
ZIP Area
2,675
Density / Sq Mi
$53,304
Median Household Income
$36,425
Median Earnings
$1,098
Median Rent
$229,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two matching residences offer three bedrooms, two bathrooms, tile flooring, and private outdoor space on each side.
Where is this duplex located?
The property is located at 1008 Briar Drive Unit A & B Waco, TX.
What is the asking price?
The asking price for this property is $369,000.
What are key features of this property?
This property features: Duplex contains 2,530 square feet and was built in 2006; Two matching units, each with 3 bedrooms and 2 bathrooms; Each residence includes a den, kitchen, dining area, utility room, and garage
