Two-Unit Duplex Near
For Sale
$350,000
1423 Daughtrey Avenue, Waco, TX 76706
Each residence offers two bedrooms and two-and-a-half baths with central air and household appliances.
Property Size1,815 SF
Price / SF$192.84
Days on Market1039
Property Features for 1423 Daughtrey Avenue
General Information
Standard status
Active
Size
1,815 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/2.5BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,200
Taxes and HOA fees
Annual Taxes
$4,737
Amenities
Central Air, Electric
3
Dishwasher, Washer, Dryer, Disposal, Range, Refrigerator, Oven
Double Pane
Composition
R-2
Parking. Waterfront.
Paved Driveway, No Parking, Lot.
Frame, Brick Trim/Veneer
Rain Gutters.
Building Details
Year Built
2004
Buildings
1
Listing Agency:
(254) 741-1500
Listed By:
Campus
(254) 640-4144
Source:
Xome
Added: Oct 29, 2023
Changed: Aug 30
Last Checked: Aug 31 at 3:56PM
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 Campus
Investment Insights
Based on property information with market context.
This 1,815-square-foot duplex, completed in 2004, contains two residences with a two-bedroom, two-and-a-half-bath configuration on each side. Both units include central air powered by electricity, along with a dishwasher, washer, dryer, disposal, range, refrigerator, and oven. Double-pane windows, rain gutters, and a frame exterior with brick trim or veneer add to the physical profile, while the composition roof supports the building envelope.
The property carries R-2 zoning and is situated in Waco’s Baylor Bubble, placing the duplex within the college-oriented area identified in the property information. The residences are pre-leased through July 21, 2026. A paved driveway is noted among the site improvements.
The property carries R-2 zoning and is situated in Waco’s Baylor Bubble, placing the duplex within the college-oriented area identified in the property information. The residences are pre-leased through July 21, 2026. A paved driveway is noted among the site improvements.
Key Highlights
- Two‑unit duplex with a 2‑bedroom, 2.5‑bath layout on each side
- 1,815 SF building completed in 2004
- R‑2 zoning in Waco’s Baylor Bubble
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
$15,722
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
4.49%
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%
$314,440
$314.4K
Cap Rate 7%
$224,600
$224.6K
Cap Rate 9%
$174,689
$174.7K
Market Conditions
NOI Build-Up for 1,815 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
−$2.2K −$1.19/SF
EGI
$22.5K $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%
$314,440
Cap Rate 7%
$224,600
Cap Rate 9%
$174,689
Alternative Uses
Best Use
Multifamily LT 5
$224.6K
$196.5K – $262.0K
NOI $15,722 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$206.7K
$180.8K – $241.1K
NOI $14,466 @ 7.0% cap · market cap 4.13%
Theoretical Best
Office A
$478.8K
$419.0K – $558.7K
NOI $33,519 @ 7.0% cap · market cap 9.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
427
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms and two-and-a-half baths with central air and household appliances.
Where is this duplex located?
The property is located at 1423 Daughtrey Avenue Waco, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two‑unit duplex with a 2‑bedroom, 2.5‑bath layout on each side; 1,815 SF building completed in 2004; R‑2 zoning in Waco’s Baylor Bubble
