Remodeled Two-Unit
1301 Wood Avenue Waco, TX 76706
For Sale
$624,900
Completely remodeled duplex with two 2-bedroom, 2-bath units and a large backyard with alley access.
Property Size2,136 SF
Price / SF$292.56
Days on Market223
Property Features for 1301 Wood Avenue
General Information
- Standard status
- Active
- Size
- 2,136 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 2000
Listing Agency:
AG Real Estate & Associates
(254) 300-1845
Listed By:
Austin Hooper · License #629677
(254) 300-1845
Source:
Compass
Added: Dec 13, 2025
Changed: Jul 23
Last Checked: Jul 23 at 2:57AM
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 AG Real Estate & Associates
Investment Insights
Based on property information with market context.
This completely remodeled duplex features two separate 2-bedroom, 2-bath units, for a total of four bedrooms and four full bathrooms. The property is described as turn-key and partially furnished, offering an immediate setup for rental use. The configuration supports flexible leasing, including eligibility for short-term, long-term, or a hybrid approach.
Set at 1301 Wood Avenue in Waco, Texas, the duplex includes a large backyard with alley access, providing convenient outdoor space and secondary access. The property is currently leased for $3,600 per month total.
For buyers seeking a two-unit residential income property, the layout provides separate living spaces while keeping the overall footprint compact and manageable. The remodeled interior finish-out and partially furnished status are intended to reduce near-term work and support quicker occupancy after purchase.
Set at 1301 Wood Avenue in Waco, Texas, the duplex includes a large backyard with alley access, providing convenient outdoor space and secondary access. The property is currently leased for $3,600 per month total.
For buyers seeking a two-unit residential income property, the layout provides separate living spaces while keeping the overall footprint compact and manageable. The remodeled interior finish-out and partially furnished status are intended to reduce near-term work and support quicker occupancy after purchase.
Key Highlights
- Remodeled duplex built in 2000 with two 2‑bedroom, 2‑bath units (2 total units)
- Currently leased for $3,600 per month total
- Each unit includes an open floorplan with kitchen island and pantry; appliances include refrigerator, dishwasher, microwave, washer and dryer
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 | $29.0k | $13.56 |
| − Vacancy | −$2.5k | −$1.19 |
| EGI | $26.4k | $12.37 |
| − OpEx | −$7.9k | −$3.71 |
| NOI | $18.5k | $8.66 |
2,136 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$264.3K
$231.3K – $308.4K
NOI $18,503 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$243.2K
$212.8K – $283.8K
NOI $17,025 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$563.5K
$493.1K – $657.5K
NOI $39,448 @ 7.0% cap · market cap 6.31%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Completely remodeled duplex with two 2-bedroom, 2-bath units and a large backyard with alley access.
Where is this duplex located?
The property is located at 1301 Wood Avenue Waco, TX.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: Remodeled duplex built in 2000 with two 2‑bedroom, 2‑bath units (2 total units); Currently leased for $3,600 per month total; Each unit includes an open floorplan with kitchen island and pantry; appliances include refrigerator, dishwasher, microwave, washer and dryer
