Duplex Residential Income
For Sale
$250,000
Pending
3441 Pewitt Drive 43, Waco, TX 76706
Duplex residential income property available for sale in Waco, TX.
Property Size1,813 SF
Days on Market35
Property Features for 3441 Pewitt Drive 43
General Information
Standard status
Pending
Size
1,813 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$4,852
Building Details
Building Size
1,813 SF
Year Built
1985
Listing Agency:
Better Homes and Gardens
(254) 235-2229
Listed By:
Leslie Edwards · License #0561739
Source:
Whitelabelrealty
Added: Jul 26
Changed: Aug 22
Last Checked: Aug 28 at 5:39PM
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 Better Homes and Gardens
Investment Insights
Based on property information with market context.
This duplex residential income property is offered for sale. The asset is categorized as a residential income duplex within a multifamily framework, providing two separate rental units under one ownership structure.
The property is located at 3441 Pewitt Drive 43 in Waco, Texas (76706). Additional specifics about unit layout, interior condition, and current occupancy are not provided in the available information.
For buyers and brokers evaluating income-oriented properties, this listing can serve as a starting point for due diligence around configuration and rent readiness, based on the confirmed duplex/multifamily classification and the provided sale offering.
The property is located at 3441 Pewitt Drive 43 in Waco, Texas (76706). Additional specifics about unit layout, interior condition, and current occupancy are not provided in the available information.
For buyers and brokers evaluating income-oriented properties, this listing can serve as a starting point for due diligence around configuration and rent readiness, based on the confirmed duplex/multifamily classification and the provided sale offering.
Key Highlights
- Duplex residential income property for sale in Waco, TX
- Built in 1985
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
$15,705
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
6.28%
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%
$314,100
$314.1K
Cap Rate 7%
$224,357
$224.4K
Cap Rate 9%
$174,500
$174.5K
Market Conditions
NOI Build-Up for 1,813 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
$24.6K $13.56/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$22.4K $12.37/SF
− OpEx
−$6.7K −$3.71/SF
NOI
$15.7K $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%
$314,100
Cap Rate 7%
$224,357
Cap Rate 9%
$174,500
Alternative Uses
Best Use
Multifamily LT 5
$224.4K
$196.3K – $261.8K
NOI $15,705 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$206.4K
$180.6K – $240.8K
NOI $14,450 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$478.3K
$418.5K – $558.0K
NOI $33,482 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
226
Businesses Nearby
Explore this area
Business Placement
Demographics for 76706, TX
39,303
Population
16,600
Households
2.4
Avg Household Size
27
Median Age
23%
College-Educated
85%
High-School Grad
72.3 sq mi
ZIP Area
544
Density / Sq Mi
$42,277
Median Household Income
$23,954
Median Earnings
$1,063
Median Rent
$180,600
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 residential income property available for sale in Waco, TX.
Where is this duplex located?
The property is located at 3441 Pewitt Drive 43 Waco, TX.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Duplex residential income property for sale in Waco, TX; Built in 1985
