Updated Duplex with Covered
For Sale
$349,000
Pending
1300 Chapel Creek Rd Unit 1302, Waco, TX 76712
Two-level units offer refreshed interiors, private suites, fenced outdoor space, and individual storage.
Property Size2,586 SF
Days on Market21
Property Features for 1300 Chapel Creek Rd Unit 1302
General Information
Standard status
Pending
Size
2,586 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
fenced backyard
covered patio
storage closet
Building Details
Year Built
1982
Listing Agency:
The Vander Woude Group
Listed By:
Kevin Vander Woude · License #0602214
(254) 723-6578
Source:
Divinerealtygrp
Added: Aug 19
Changed: Sep 6
Last Checked: Sep 6 at 2:49PM
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 The Vander Woude Group
Investment Insights
Based on property information with market context.
This 2,586-square-foot duplex, built in 1982, presents two residential units with refreshed interiors and practical layouts. Each side includes an open living and dining arrangement connected to the kitchen, new flooring, and fresh paint. The primary bedroom suite is located on the main level, while two additional bedrooms and a full bathroom are positioned upstairs.
Outdoor features include a fully fenced backyard with a covered patio, plus a two-car carport and dedicated storage closet for each unit. Located on Chapel Creek Rd in Waco and within Midway ISD, the property offers a configuration suitable for an owner-occupant or separate residential tenancy.
Outdoor features include a fully fenced backyard with a covered patio, plus a two-car carport and dedicated storage closet for each unit. Located on Chapel Creek Rd in Waco and within Midway ISD, the property offers a configuration suitable for an owner-occupant or separate residential tenancy.
Key Highlights
- 2,586‑square‑foot duplex in Waco within Midway ISD
- Built in 1982 with fresh paint and new flooring throughout both units
- Each unit has a main‑level primary suite plus two upstairs bedrooms
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
$22,401
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
6.42%
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%
$448,020
$448.0K
Cap Rate 7%
$320,014
$320.0K
Cap Rate 9%
$248,900
$248.9K
Market Conditions
NOI Build-Up for 2,586 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
$35.1K $13.56/SF
− Vacancy
−$3.1K −$1.19/SF
EGI
$32.0K $12.37/SF
− OpEx
−$9.6K −$3.71/SF
NOI
$22.4K $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%
$448,020
Cap Rate 7%
$320,014
Cap Rate 9%
$248,900
Alternative Uses
Best Use
Multifamily LT 5
$320.0K
$280.0K – $373.4K
NOI $22,401 @ 7.0% cap · market cap 6.42%
Second Best
Apartment 5plus
$294.5K
$257.7K – $343.5K
NOI $20,612 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$682.3K
$597.0K – $796.0K
NOI $47,758 @ 7.0% cap · market cap 13.68%
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
81
Businesses Nearby
Explore this area
Business Placement
Demographics for 76712, TX
27,800
Population
11,704
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
96%
High-School Grad
52.4 sq mi
ZIP Area
531
Density / Sq Mi
$96,267
Median Household Income
$56,879
Median Earnings
$1,333
Median Rent
$302,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-level units offer refreshed interiors, private suites, fenced outdoor space, and individual storage.
Where is this duplex located?
The property is located at 1300 Chapel Creek Rd Unit 1302 Waco, TX.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 2,586‑square‑foot duplex in Waco within Midway ISD; Built in 1982 with fresh paint and new flooring throughout both units; Each unit has a main‑level primary suite plus two upstairs bedrooms
