New-Build Duplex with Concrete
1515 Trice Avenue Waco, TX 76707
1515 Trice Avenue, Waco, TX, 76707
$365,000
For Sale
$365,000
New-build duplex with two 3-bedroom units, concrete floors, double-pane windows, and paved front and back areas.
Property Size2,116 SF
Price / SF$172.50
Days on Market961
Property Features for 1515 Trice Avenue
General Information
- Standard status
- Active
- Size
- 2,116 SF
- Property subtype
- Duplex
Building Details
- Year Built
- 2025
Listing agency
Magnolia Realty
(254) 218-5940
Listed by
Lily Flores · License #0787285
(254) 450-4037
Source
Xome
Added: Dec 4, 2023 Updated: Jul 20 at 5:57PM Checked: Jul 21 at 3:08AM
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 Magnolia Realty
Investment Insights
Based on property information with market context.
New-build duplex at 1515 Trice Avenue in Waco, TX, offering two residential units with matching layouts. Each unit features 3 bedrooms and 2 bathrooms. Interior finishes include durable concrete floors and updated kitchen areas, complemented by double-pane windows. The property is designed for year-round comfort with a high-performance HVAC system and high-capacity water heaters.
Outside, the home provides paved front and back areas for convenient access and comfortable parking. A privacy fence is currently being built, and the property is described as STR eligible.
The duplex is offered for sale as a ready-to-own residential income property, with proximity to downtown Waco described as about 7 minutes.
Outside, the home provides paved front and back areas for convenient access and comfortable parking. A privacy fence is currently being built, and the property is described as STR eligible.
The duplex is offered for sale as a ready-to-own residential income property, with proximity to downtown Waco described as about 7 minutes.
Key Highlights
- New‑build duplex (Year Built 2025) with two 3‑bedroom units and 2 bathrooms per unit
- Concrete floors and double‑pane windows across the duplex
- Central Air (electric) with a high‑performance HVAC system and high‑capacity water heaters
Local Financial Insights For Multifamily LT 5
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 | $28.7k | $13.56 |
| − Vacancy | −$2.5k | −$1.19 |
| EGI | $26.2k | $12.37 |
| − OpEx | −$7.9k | −$3.71 |
| NOI | $18.3k | $8.66 |
2,116 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$261.9K
$229.1K – $305.5K
NOI $18,330 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$240.9K
$210.8K – $281.1K
NOI $16,865 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$558.3K
$488.5K – $651.3K
NOI $39,078 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - New-build duplex with two 3-bedroom units, concrete floors, double-pane windows, and paved front and back areas.
Where is this duplex located?
The property is located at 1515 Trice Avenue Waco, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: New‑build duplex (Year Built 2025) with two 3‑bedroom units and 2 bathrooms per unit; Concrete floors and double‑pane windows across the duplex; Central Air (electric) with a high‑performance HVAC system and high‑capacity water heaters
