Two-Unit Duplex
1501 South 29th Street Waco, TX 76711
For Sale
$259,900
Two-unit duplex with recent capital improvements, including HVAC, water heaters, updated flooring, and foundation work.
Property Size1,658 SF
Price / SF$156.76
Days on Market168
Property Features for 1501 South 29th Street
General Information
- Standard status
- Active
- Size
- 1,658 SF
- Property subtype
- Multi-Family / Multiple Single Units
Building Details
- Year Built
- 1985
Listing Agency:
Keller Williams Realty, Waco
(254) 870-0050
Listed By:
Brad Harrell · License #0363789
(254) 870-0050
Source:
Compass
Added: Feb 6
Changed: Jul 23
Last Checked: Jul 23 at 1:47PM
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 Keller Williams Realty, Waco
Investment Insights
Based on property information with market context.
This two-unit duplex offers Units A and B, each with approximately 829 square feet of living space. Recent capital improvements include foundation work, new HVAC systems, new water heaters, and updated flooring, helping reduce near-term maintenance concerns. One unit is currently rented, and the recently impacted vacant unit has been offered for lease following the foundation work.
The property is located at 1501 South 29th Street in Waco, Texas, near a heavy retail corridor and adjacent to South Waco Park. The site is zoned C-2: Commercial (Beverly Hills), providing additional flexibility for future use or redevelopment.
Financial information is available upon request. The property is being offered for sale.
The property is located at 1501 South 29th Street in Waco, Texas, near a heavy retail corridor and adjacent to South Waco Park. The site is zoned C-2: Commercial (Beverly Hills), providing additional flexibility for future use or redevelopment.
Financial information is available upon request. The property is being offered for sale.
Key Highlights
- Two‑unit duplex (Units A & B) on South 29th Street in Waco, TX; 1,658 SF total on a slab foundation
- Recent capital improvements include foundation work, new HVAC systems, new water heaters, and updated flooring
- Each unit offers approximately 829 SF and features open floorplan with laminate flooring and ceiling fans
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 |
1,658 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$205.2K
$179.5K – $239.4K
NOI $14,362 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$188.8K
$165.2K – $220.3K
NOI $13,215 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$437.4K
$382.8K – $510.3K
NOI $30,620 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex with recent capital improvements, including HVAC, water heaters, updated flooring, and foundation work.
Where is this duplex located?
The property is located at 1501 South 29th Street Waco, TX.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex (Units A & B) on South 29th Street in Waco, TX; 1,658 SF total on a slab foundation; Recent capital improvements include foundation work, new HVAC systems, new water heaters, and updated flooring; Each unit offers approximately 829 SF and features open floorplan with laminate flooring and ceiling fans
