Tenant-Occupied
1303 James Ave, Waco, TX 76706
For Sale
$850,000
Both residences are occupied and include appliance-equipped kitchens and central electric heating and cooling.
Property Size3,360 SF
Lot Size0.19 Acres
Price / SF$252.98
Days on Market52
Property Features for 1303 James Ave
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Net Operating Income
Financials
Asking Price
Cap Rate
Gross Income
Additional Details
Highway Access
Multifamily Units
Tenant in Place
Building Details
Year Built
Stories
Construction
Listing Agency:
The McLeod Company
Listed By:
Matthew McLeod · License #575417
(254) 235-0302
Source:
Divinerealtygrp
Added: Sep 19
Changed: Nov 8
Last Checked: Oct 2 at 8:23PM
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 McLeod Company
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Investment Insights
Based on property information with market context.
This two-unit residential property spans approximately 3,360 square feet across two stories on a 0.189-acre parcel. Built in 2004, the building has brick and stone veneer, a metal roof, and eight paved parking spaces. Interior features include open layouts, carpet flooring, central electric heating and cooling, and kitchens with appliances. Both units are tenant-occupied.
The property is near Baylor University and offers access to Downtown Waco and Interstate 35. Its reported capitalization rate is 6.53%.
The property is near Baylor University and offers access to Downtown Waco and Interstate 35. Its reported capitalization rate is 6.53%.
Key Highlights
- Two‑unit duplex with both residences tenant‑occupied
- Approximately 3,360 square feet across two stories
- 0.189‑acre lot with 8 paved parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,106
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,120
$582.1K
Cap Rate 7%
$415,800
$415.8K
Cap Rate 9%
$323,400
$323.4K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$45.6K $13.56/SF
− Vacancy
−$4.0K −$1.19/SF
EGI
$41.6K $12.37/SF
− OpEx
−$12.5K −$3.71/SF
NOI
$29.1K $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 Rate 5%
$582,120
Cap Rate 7%
$415,800
Cap Rate 9%
$323,400
Alternative Uses
Best Use
Multifamily LT 5
$415.8K
$363.8K – $485.1K
NOI $29,106 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$382.6K
$334.8K – $446.4K
NOI $26,781 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$886.5K
$775.7K – $1.03M
NOI $62,052 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
505
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
$180,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Waco, TX
Properties on Market for Duplexes in Waco
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and include appliance-equipped kitchens and central electric heating and cooling.
Where is this duplex located?
The property is located at 1303 James Ave Waco, TX.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences tenant‑occupied; Approximately 3,360 square feet across two stories; 0.189‑acre lot with 8 paved parking spaces
