1501 S 29th Street Waco, TX 76711
MULTI_FAMILY - Waco, TX
- Added:
- May 7, 2026
- Days on Market:
- 69
- Last Refresh:
- Jul 14 at 10:06 am
Property Features for 1501 S 29th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Driveway
- Interior features
- HighSpeedInternet, OpenFloorplan, CableTv
- Appliances
- ElectricWaterHeater, Disposal, GasRange, Refrigerator
- Standard status
- Active
- APN
- 197218
- Size
- 1,658 SF
- Lot size
- 0.17 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Central
- Cooling system
- Ceiling Fan(s), Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 1985
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Laminate
- Building materials
- Brick
- Roof type
- Composition
Listing agent Brad Harrell License #363789 (254) 717-9306
Listing office Keller Williams Realty, Waco Waco, TX (254) 751-7900
Listing date May 7, 2026
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Zoned C-2: Commercial (Beverly Hills), the property provides added flexibility for future use or redevelopment. It is located near a heavy retail corridor and adjacent to South Waco Park, supporting tenant appeal and long-term value in a high-visibility area of Waco.
From an investment standpoint, the duplex is well-suited for operators seeking a stabilized rental with value-add upside. With the most recent rented unit currently generating $1,300 per month, the property offers immediate income potential while still allowing room to pursue improved rent performance or alternative redevelopment paths consistent with the C-2 zoning. Financials are available upon request.
Key Highlights
- Two‑unit duplex at 1501 S 29th St, Waco, with each unit at approximately 829 SF
- Recent capital improvements: foundation work completed in 2025, new HVAC systems, new water heaters, and updated flooring
- Roof and gutters replaced most recently in April 2026
Local 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 | $22.5k | $13.56 |
| − Vacancy | −$2.0k | −$1.19 |
| EGI | $20.5k | $12.37 |
| − OpEx | −$6.2k | −$3.71 |
| NOI | $14.4k | $8.66 |
