Duplex with Central
For Sale
$424,000
1510 N 7TH Street, Waco, TX 76707
Interior amenities include ceiling fans, electric appliances, and walk-in closets.
Property Size3,420 SF
Days on Market153
Property Features for 1510 N 7TH Street
General Information
Standard status
Active
Size
3,420 SF
Total Parking Spaces
4
Property subtype
Residential Income
Net Operating Income
$29,860
Taxes and HOA fees
Annual Taxes
$515
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
Dishwasher, Electric Oven, Electric Water Heater, Refrigerator
Walk-In Closet(s)
Privacy, Wood
Concrete, Driveway
Building Details
Building Size
3,420 SF
Year Built
2026
Buildings
1
Listing Agency:
Barben Real Estate LLC DBA Bridge Realty
(254) 717-9579
Listed By:
Robert Pfenninger · License #0782395
(254) 717-9579
Source:
Evrealestate
Added: Mar 31
Changed: Aug 29
Last Checked: Aug 29 at 9:05PM
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 Barben Real Estate LLC DBA Bridge Realty
Investment Insights
Based on property information with market context.
This duplex was built in 2026 and includes central air conditioning with electric service. Interior features include ceiling fans, walk-in closets, a dishwasher, electric oven, electric water heater, and refrigerator. The property also offers concrete driveway improvements and wood privacy features. It is located on N 7th Street in Waco, within McLennan County.
Key Highlights
- Built in 2026
- Central air conditioning and electric service
- Dishwasher, electric oven, electric water heater, and refrigerator
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
$29,625
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
6.99%
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%
$592,500
$592.5K
Cap Rate 7%
$423,214
$423.2K
Cap Rate 9%
$329,167
$329.2K
Market Conditions
NOI Build-Up for 3,420 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
$46.4K $13.56/SF
− Vacancy
−$4.1K −$1.19/SF
EGI
$42.3K $12.37/SF
− OpEx
−$12.7K −$3.71/SF
NOI
$29.6K $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%
$592,500
Cap Rate 7%
$423,214
Cap Rate 9%
$329,167
Alternative Uses
Best Use
Multifamily LT 5
$423.2K
$370.3K – $493.8K
NOI $29,625 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$389.4K
$340.7K – $454.3K
NOI $27,259 @ 7.0% cap · market cap 6.43%
Theoretical Best
Office A
$902.3K
$789.5K – $1.05M
NOI $63,161 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
Explore this area
Business Placement
Demographics for 76707, TX
16,227
Population
6,678
Households
2.4
Avg Household Size
31
Median Age
15%
College-Educated
76%
High-School Grad
3.3 sq mi
ZIP Area
4,917
Density / Sq Mi
$38,208
Median Household Income
$27,124
Median Earnings
$1,055
Median Rent
$113,600
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 - Interior amenities include ceiling fans, electric appliances, and walk-in closets.
Where is this duplex located?
The property is located at 1510 N 7TH Street Waco, TX.
What is the asking price?
The asking price for this property is $424,000.
What are key features of this property?
This property features: Built in 2026; Central air conditioning and electric service; Dishwasher, electric oven, electric water heater, and refrigerator
