Two-Unit Duplex with
New
For Sale
$420,000
137 Deana Dr Unit 139, Waco, TX 76706
Built in 2006, the property offers fenced outdoor space and attached garages for both residences.
Property Size2,802 SF
Price / SF$149.89
Days on Market7
Property Features for 137 Deana Dr Unit 139
General Information
Standard status
Active
Size
2,802 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,495
Amenities
privacy fenced in back yard
Building Details
Year Built
2006
Buildings
1
Listing Agency:
Bluebonnet Properties Inc.
Listed By:
Amber Rayborn · License #721005
(254) 776-3094
Source:
Northtexashomeguide
Added: Sep 1
Changed: Sep 5
Last Checked: Sep 6 at 9:20AM
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 Bluebonnet Properties Inc.
Investment Insights
Based on property information with market context.
This 2802-square-foot duplex at 137 Deana Dr in Waco includes two separate residences, each with 3 bedrooms, 2 baths, a privacy-fenced backyard, and an attached 2-car garage. Constructed in 2006, the property provides matching layouts and dedicated outdoor space for both sides.
The duplex is located within the Robinson ISD school district. Unit 137 is leased from 12-1-2025 to 11-30-2026, while Unit 139 is leased from 3-1-2026 to 2-28-2027, providing staggered lease terms across the two units.
The duplex is located within the Robinson ISD school district. Unit 137 is leased from 12-1-2025 to 11-30-2026, while Unit 139 is leased from 3-1-2026 to 2-28-2027, providing staggered lease terms across the two units.
Key Highlights
- 2802‑square‑foot duplex built in 2006
- Each side includes 3 bedrooms and 2 baths
- Both units feature privacy‑fenced backyards
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
$24,272
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
5.78%
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%
$485,440
$485.4K
Cap Rate 7%
$346,743
$346.7K
Cap Rate 9%
$269,689
$269.7K
Market Conditions
NOI Build-Up for 2,802 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
$38.0K $13.56/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$34.7K $12.37/SF
− OpEx
−$10.4K −$3.71/SF
NOI
$24.3K $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%
$485,440
Cap Rate 7%
$346,743
Cap Rate 9%
$269,689
Alternative Uses
Best Use
Multifamily LT 5
$346.7K
$303.4K – $404.5K
NOI $24,272 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$319.0K
$279.2K – $372.2K
NOI $22,333 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$739.2K
$646.8K – $862.5K
NOI $51,747 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
22
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 - Built in 2006, the property offers fenced outdoor space and attached garages for both residences.
Where is this duplex located?
The property is located at 137 Deana Dr Unit 139 Waco, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: 2802‑square‑foot duplex built in 2006; Each side includes 3 bedrooms and 2 baths; Both units feature privacy‑fenced backyards
