Two-Unit
For Sale
$245,000
1312 S 30th St, Waco, TX 76711
Two separate two-bedroom units offer an upstairs and downstairs configuration for residential income use.
Property Size1,630 SF
Price / SF$150.31
Days on Market532
Property Features for 1312 S 30th St
General Information
Standard status
Active
Size
1,630 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Harrell Realty Company
(254) 776-7599
Listed By:
Hunter Harrell · License #TX-619933
Source:
Findtexashomesforsale
Added: Mar 16, 2025
Changed: Aug 28
Last Checked: Aug 29 at 10:31AM
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 Harrell Realty Company
Investment Insights
Based on property information with market context.
This duplex contains two residential units totaling 1,630 SF. The upper unit provides two bedrooms, one bathroom, and 660 SF, while the lower unit includes two bedrooms, one bathroom, and 700 SF. The property was built in 1950 and is configured as a compact two-unit income property.
Located on S. 30th Street in Waco, the property is near S. Valley Mills Drive, IH-35, shopping, and restaurants. The duplex may be acquired individually or as part of an investment package with other properties, as applicable to the buyer’s strategy.
Located on S. 30th Street in Waco, the property is near S. Valley Mills Drive, IH-35, shopping, and restaurants. The duplex may be acquired individually or as part of an investment package with other properties, as applicable to the buyer’s strategy.
Key Highlights
- Two‑unit duplex with 1,630 SF total
- Upper‑level 2BR/1BA unit measuring 660 SF
- Lower‑level 2BR/1BA unit measuring 700 SF
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
$14,120
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
5.76%
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%
$282,400
$282.4K
Cap Rate 7%
$201,714
$201.7K
Cap Rate 9%
$156,889
$156.9K
Market Conditions
NOI Build-Up for 1,630 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
$22.1K $13.56/SF
− Vacancy
−$1.9K −$1.19/SF
EGI
$20.2K $12.37/SF
− OpEx
−$6.1K −$3.71/SF
NOI
$14.1K $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 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%
$282,400
Cap Rate 7%
$201,714
Cap Rate 9%
$156,889
Alternative Uses
Best Use
Multifamily LT 5
$201.7K
$176.5K – $235.3K
NOI $14,120 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$185.6K
$162.4K – $216.5K
NOI $12,992 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$430.0K
$376.3K – $501.7K
NOI $30,103 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Explore this area
Business Placement
Demographics for 76711, TX
9,806
Population
4,143
Households
2.4
Avg Household Size
33
Median Age
17%
College-Educated
78%
High-School Grad
4.0 sq mi
ZIP Area
2,452
Density / Sq Mi
$52,617
Median Household Income
$33,989
Median Earnings
$1,314
Median Rent
$112,600
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 - Two separate two-bedroom units offer an upstairs and downstairs configuration for residential income use.
Where is this duplex located?
The property is located at 1312 S 30th St Waco, TX.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,630 SF total; Upper‑level 2BR/1BA unit measuring 660 SF; Lower‑level 2BR/1BA unit measuring 700 SF
