Updated Duplex with Covered
New
For Sale
$349,000
1300 Chapel Creek Road 1302, Waco, TX 76712
Two-level units offer private primary suites, fenced outdoor space, carports, and individual storage.
Property Size2,586 SF
Days on Market4
Property Features for 1300 Chapel Creek Road 1302
General Information
Standard status
Active
Size
2,586 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,368
Amenities
fenced backyard
covered patio
storage closet
Building Details
Building Size
2,586 SF
Year Built
1982
Buildings
1
Listing Agency:
The Vander Woude Group
(254) 723-6578
Listed By:
Kevin Vander Woude · License #0602214
Source:
Whitelabelrealty
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 28 at 2:04PM
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.
Built in 1982, this duplex has been updated with new flooring and fresh paint throughout both residences. Each unit features an open living and dining arrangement connected to the kitchen, a private primary bedroom on the main level, and two additional bedrooms with a full bathroom upstairs. The configuration provides separation between living areas while maintaining a practical floor plan.
Outdoor amenities include a fully fenced backyard with a covered patio, a two-car carport, and a dedicated storage closet for each side. The property is located in Midway ISD at 1300 Chapel Creek Road 1302 in Waco, Texas. One unit is currently vacant, with applications reported for occupancy, providing flexibility for an owner occupant or a new tenant placement.
Outdoor amenities include a fully fenced backyard with a covered patio, a two-car carport, and a dedicated storage closet for each side. The property is located in Midway ISD at 1300 Chapel Creek Road 1302 in Waco, Texas. One unit is currently vacant, with applications reported for occupancy, providing flexibility for an owner occupant or a new tenant placement.
Key Highlights
- Duplex in Midway ISD with an updated interior
- Each unit includes a main‑level primary suite and two upstairs bedrooms
- Fresh paint and brand‑new flooring throughout both sides
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-level units offer private primary suites, fenced outdoor space, carports, and individual storage.
Where is this duplex located?
The property is located at 1300 Chapel Creek Road 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: Duplex in Midway ISD with an updated interior; Each unit includes a main‑level primary suite and two upstairs bedrooms; Fresh paint and brand‑new flooring throughout both sides
