Updated Triplex Near Baylor
New
For Sale
$925,000
1708 S 9th Street Unit A B C, Waco, TX 76706
Three updated residences offer functional layouts near Baylor University and Downtown Waco.
Property Size4,399 SF
Price / SF$210.28
Days on Market4
Property Features for 1708 S 9th Street Unit A B C
General Information
Standard status
Active
Size
4,399 SF
Property subtype
Triplex
Units
Unit Mix
3 x 3BR/2BA
Multifamily Units
3
Building Details
Year Built
2000
Listing Agency:
Paramount Realty & Management
(254) 855-4908
Listed By:
Rene Jensen · License #0720823
(214) 532-6823
Source:
Lonestarluxuryrealty
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 6:38AM
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 Paramount Realty & Management
Investment Insights
Based on property information with market context.
Built in 2000, this triplex contains three separate residences totaling 4,399 square feet. Each unit includes three bedrooms, two full bathrooms, and comfortable living and dining areas. Interior updates provide modern finishes and move-in-ready condition across the property.
The property is located at 1708 S 9th Street in Waco, within the area surrounding Baylor University. Downtown Waco, Magnolia Market at the Silos, shopping, restaurants, coffee shops, and other community attractions are also nearby. Its proximity to campus and the broader Waco area supports residential use for tenants connected to the university or seeking access to nearby amenities.
The property is located at 1708 S 9th Street in Waco, within the area surrounding Baylor University. Downtown Waco, Magnolia Market at the Silos, shopping, restaurants, coffee shops, and other community attractions are also nearby. Its proximity to campus and the broader Waco area supports residential use for tenants connected to the university or seeking access to nearby amenities.
Key Highlights
- Triplex with 3 units totaling 4,399 square feet
- Each unit has 3 bedrooms and 2 full bathrooms
- Updated interiors with modern finishes
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
$38,106
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
4.12%
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%
$762,120
$762.1K
Cap Rate 7%
$544,371
$544.4K
Cap Rate 9%
$423,400
$423.4K
Market Conditions
NOI Build-Up for 4,399 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
$59.7K $13.56/SF
− Vacancy
−$5.2K −$1.19/SF
EGI
$54.4K $12.37/SF
− OpEx
−$16.3K −$3.71/SF
NOI
$38.1K $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%
$762,120
Cap Rate 7%
$544,371
Cap Rate 9%
$423,400
Alternative Uses
Best Use
Multifamily LT 5
$544.4K
$476.3K – $635.1K
NOI $38,106 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$500.9K
$438.3K – $584.4K
NOI $35,062 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$1.16M
$1.02M – $1.35M
NOI $81,241 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
682
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?
Triplex - Three updated residences offer functional layouts near Baylor University and Downtown Waco.
Where is this triplex located?
The property is located at 1708 S 9th Street Unit A B C Waco, TX.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Triplex with 3 units totaling 4,399 square feet; Each unit has 3 bedrooms and 2 full bathrooms; Updated interiors with modern finishes
