Duplex Investment
For Sale
$175,000
3917 Bosque Boulevard, Waco, TX 76710
Duplex for sale near schools, churches, and shopping, currently with tenants in place.
Property Size1,246 SF
Price / SF$140.45
Days on Market1044
Property Features for 3917 Bosque Boulevard
General Information
Standard status
Active
Size
1,246 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,396
Amenities
Refrigerator, Range, Oven
Composition
R-2
No Parking, Unpaved.
Brick Trim/Veneer
Building Details
Year Built
1948
Tenancy
Multi
Listing Agency:
Alley Home & Land Co
(254) 596-4663
Listed By:
Alley
(254) 231-6633
Source:
Xome
Added: Oct 31, 2023
Changed: Sep 2
Last Checked: Sep 7 at 5:22AM
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 Alley Home & Land Co
Investment Insights
Based on property information with market context.
This duplex investment property is available for sale and is currently occupied by tenants. The listing is positioned for investors who are looking to acquire a residential income asset with existing in-place occupancy.
The property is located on Bosque Boulevard and is described as being close to schools, churches, and shopping. Please do not disturb tenants.
The offering is identified as a duplex and includes a residential income focus under the current listing details.
The property is located on Bosque Boulevard and is described as being close to schools, churches, and shopping. Please do not disturb tenants.
The offering is identified as a duplex and includes a residential income focus under the current listing details.
Key Highlights
- Duplex built in 1948
- Zoned R‑2
- Brick trim/veneer exterior
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
$10,793
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
6.17%
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%
$215,860
$215.9K
Cap Rate 7%
$154,186
$154.2K
Cap Rate 9%
$119,922
$119.9K
Market Conditions
NOI Build-Up for 1,246 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
$16.9K $13.56/SF
− Vacancy
−$1.5K −$1.19/SF
EGI
$15.4K $12.37/SF
− OpEx
−$4.6K −$3.71/SF
NOI
$10.8K $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%
$215,860
Cap Rate 7%
$154,186
Cap Rate 9%
$119,922
Alternative Uses
Best Use
Multifamily LT 5
$154.2K
$134.9K – $179.9K
NOI $10,793 @ 7.0% cap · market cap 6.17%
Second Best
Apartment 5plus
$141.9K
$124.1K – $165.5K
NOI $9,931 @ 7.0% cap · market cap 5.67%
Theoretical Best
Office A
$328.7K
$287.6K – $383.5K
NOI $23,011 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
418
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 - Duplex for sale near schools, churches, and shopping, currently with tenants in place.
Where is this duplex located?
The property is located at 3917 Bosque Boulevard Waco, TX.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Duplex built in 1948; Zoned R‑2; Brick trim/veneer exterior
