Multifamily Property with New
700 Hines Avenue Waco, TX 76706
700 Hines Avenue, Waco, TX, 76706
$575,000
For Sale
$575,000
Income-generating multifamily property near Baylor University, featuring newly installed flooring and updated contemporary interiors.
Property Size2,612 SF
Price / SF$220.14
Days on Market1070
Property Features for 700 Hines Avenue
General Information
- Standard status
- Active
- Size
- 2,612 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 2021
Listing agency
Coldwell Banker Apex, REALTORS
(254) 776-0000
Listed by
Garrett Alders · License #0740733
(254) 292-0817
Source
Xome
Added: Aug 18, 2023 Updated: Jul 21 at 7:18PM Checked: Jul 22 at 3:46AM
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 Coldwell Banker Apex, REALTORS
Investment Insights
Based on property information with market context.
This income-generating multifamily property presents contemporary interiors with a semi-open concept design that connects living areas to kitchens. The residence features newly installed flooring throughout and updated kitchen finishes, including granite countertops, intended to support both comfortable day-to-day living and long-term durability.
Located at 700 Hines Avenue in Waco, Texas, the property offers convenient access to Baylor University and the downtown district, with the amenities of dining, shopping, and entertainment described as nearby in the surrounding area.
Overall, the building is positioned as a multifamily option for buyers seeking an income-producing property with recently refreshed flooring and modern kitchen upgrades.
Located at 700 Hines Avenue in Waco, Texas, the property offers convenient access to Baylor University and the downtown district, with the amenities of dining, shopping, and entertainment described as nearby in the surrounding area.
Overall, the building is positioned as a multifamily option for buyers seeking an income-producing property with recently refreshed flooring and modern kitchen upgrades.
Key Highlights
- Year built 2021 income‑generating multifamily property near Baylor University
- Central air with electric and gas heating
- Appliances include dishwasher, washer, dryer, disposal, microwave, range, refrigerator, and oven
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 | $41.7k | $15.96 |
| − Vacancy | −$3.8k | −$1.47 |
| EGI | $37.9k | $14.49 |
| − OpEx | −$17.0k | −$6.52 |
| NOI | $20.8k | $7.97 |
2,612 SF · lease $15.96/SF/yr · vacancy 9.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$297.4K
$260.2K – $347.0K
NOI $20,819 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$689.1K
$603.0K – $804.0K
NOI $48,238 @ 7.0% cap · market cap 8.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Multifamily property - Income-generating multifamily property near Baylor University, featuring newly installed flooring and updated contemporary interiors.
Where is this multifamily property located?
The property is located at 700 Hines Avenue Waco, TX.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Year built 2021 income‑generating multifamily property near Baylor University; Central air with electric and gas heating; Appliances include dishwasher, washer, dryer, disposal, microwave, range, refrigerator, and oven
