Multifamily
New
For Sale
$1,275,000
1312 Wood Avenue A B C D, Waco, TX 76706
The property includes a range of household appliances and high-speed internet.
Property Size5,532 SF
Days on Market6
Property Features for 1312 Wood Avenue A B C D
General Information
Standard status
Active
Size
5,532 SF
Total Parking Spaces
18
Property subtype
Residential Income
Net Operating Income
$83,171
Taxes and HOA fees
Annual Taxes
$12,438
Amenities
Ceiling Fan(s), Electric
Electric
Dishwasher, Dryer, Refrigerator, Washer
Other, High Speed Internet
Paved
Building Details
Building Size
5,532 SF
Year Built
2002
Buildings
2
Listing Agency:
The McLeod Company
Listed By:
Matthew McLeod · License #575417
(254) 235-0302
Source:
Evrealestate
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 2 at 8:14PM
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
Investment Insights
Based on property information with market context.
Built in 2002, this multifamily property offers ceiling fans, electric service, and a household appliance package that includes a dishwasher, washer, dryer, and refrigerator. High-speed internet is also listed among the interior features, and the exterior is paved.
The property is at 1312 Wood Avenue in Waco, with directions from Interstate 35 via the South 12th Street exit and Wood Avenue.
The property is at 1312 Wood Avenue in Waco, with directions from Interstate 35 via the South 12th Street exit and Wood Avenue.
Key Highlights
- Built in 2002
- Dishwasher, washer, dryer, and refrigerator included
- High‑speed internet listed among interior features
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
$44,092
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
3.46%
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%
$881,840
$881.8K
Cap Rate 7%
$629,886
$629.9K
Cap Rate 9%
$489,911
$489.9K
Market Conditions
NOI Build-Up for 5,532 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
$88.3K $15.96/SF
− Vacancy
−$8.1K −$1.47/SF
EGI
$80.2K $14.49/SF
− OpEx
−$36.1K −$6.52/SF
NOI
$44.1K $7.97/SF
Area
Waco, TX
Vacancy
9.20%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$881,840
Cap Rate 7%
$629,886
Cap Rate 9%
$489,911
Alternative Uses
Best Use
Apartment 5plus
$629.9K
$551.2K – $734.9K
NOI $44,092 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.70M
NOI $102,165 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
487
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
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - The property includes a range of household appliances and high-speed internet.
Where is this multifamily property located?
The property is located at 1312 Wood Avenue A B C D Waco, TX.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Built in 2002; Dishwasher, washer, dryer, and refrigerator included; High‑speed internet listed among interior features
