Two-Unit Duplex Income
1404 Chapel Creek Road Unit 1406 Waco, TX 76712
For Sale
$299,000
Duplex for sale in Midway ISD with each side featuring 2 bedrooms and 1.5 bathrooms.
Property Size2,016 SF
Price / SF$148.31
Days on Market180
Property Features for 1404 Chapel Creek Road Unit 1406
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family / Full Duplex
Building Details
Year Built
1982
Listing Agency:
JA Group Companies
(254) 776-1296
Listed By:
Charles Johnson · License #0218916
(254) 776-1296
Source:
Compass
Added: Jan 31
Changed: Jul 23
Last Checked: Jul 23 at 10:12AM
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 JA Group Companies
Investment Insights
Based on property information with market context.
This duplex income property offers two separate units, with each side built out as a 2-bedroom, 1.5-bath layout. The configuration is designed for residential rental use on both sides of the property.
The property is located in Midway ISD. The listing is for 1404 Chapel Creek Road, Unit 1406, Waco, TX 76712.
With matching unit layouts, the property provides a straightforward two-unit setup for residential income.
The property is located in Midway ISD. The listing is for 1404 Chapel Creek Road, Unit 1406, Waco, TX 76712.
With matching unit layouts, the property provides a straightforward two-unit setup for residential income.
Key Highlights
- Duplex in Midway ISD with 2 total units; each side offers 2 bedrooms and 1.5 bathrooms
- Built in 1982 with one‑story brick, frame, and stone veneer construction
- Central air conditioning and central electric heating on each unit
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.3k | $13.56 |
| − Vacancy | −$2.4k | −$1.19 |
| EGI | $24.9k | $12.37 |
| − OpEx | −$7.5k | −$3.71 |
| NOI | $17.5k | $8.66 |
2,016 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$249.5K
$218.3K – $291.1K
NOI $17,463 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$229.5K
$200.9K – $267.8K
NOI $16,068 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$531.9K
$465.4K – $620.5K
NOI $37,231 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Duplex for sale in Midway ISD with each side featuring 2 bedrooms and 1.5 bathrooms.
Where is this duplex located?
The property is located at 1404 Chapel Creek Road Unit 1406 Waco, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex in Midway ISD with 2 total units; each side offers 2 bedrooms and 1.5 bathrooms; Built in 1982 with one‑story brick, frame, and stone veneer construction; Central air conditioning and central electric heating on each unit
