Building Details

Year Built 1920

Listing Agency: JPAR

Listed By: Ivette Martinez Delgado · License #0618711 Show Phone

Source: Compass

Added: Mar 13 Changed: Oct 15 Last Checked: Oct 15 at 1:04AM

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Investment Insights

Based on property information with market context.

Built in 1920, this duplex contains 2,876 square feet across two residential units. Interior features include central air, electric heating, luxury vinyl plank flooring, and cable TV and high-speed internet availability. The property also includes a composition shingle roof and wood exterior elements.

The duplex occupies a large corner lot at 1825 Lyle Avenue in Waco, with Baylor University located minutes away. Public-record information identifies pillar/post/pier construction and two exterior parking spaces.

Key Highlights

• 2,876‑square‑foot duplex built in 1920
• Large corner lot at 1825 Lyle Avenue
• Located minutes from Baylor University

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$22,923

Cap Rate

8.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$458,460 $458.5K

Cap Rate 7%

$327,471 $327.5K

Cap Rate 9%

$254,700 $254.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,876 SF

Gross rent

$45.9K $15.96/SF

− Vacancy

−$4.2K −$1.47/SF

EGI

$41.7K $14.49/SF

− OpEx

−$18.8K −$6.52/SF

NOI

$22.9K $7.97/SF

Area

Waco, TX

Vacancy

9.20%

Lease Rate

$15.96 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$458,460

Cap Rate 7%

$327,471

Cap Rate 9%

$254,700

Alternative Uses

Best Use

Multifamily LT 5

$355.9K

$311.4K – $415.2K (±1% cap)

NOI $24,913 @ 7.0% cap · market cap 9.58%

Second Best

Apartment 5plus

$327.5K

$286.5K – $382.1K (±1% cap)

NOI $22,923 @ 7.0% cap · market cap 8.82%

Theoretical Best

Office A

$758.8K

$663.9K – $885.2K (±1% cap)

NOI $53,114 @ 7.0% cap · market cap 20.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

242

Businesses Nearby

Explore this area Business Placement

Demographics for 76708, TX

28,499

Population

11,241

Households

2.5

Avg Household Size

35

Median Age

25%

College-Educated

85%

High-School Grad

48.1 sq mi

ZIP Area

592

Density / Sq Mi

$66,764

Median Household Income

$39,409

Median Earnings

$1,087

Median Rent

$204,600

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-unit residential property with central air, electric service, and luxury vinyl plank flooring.

Where is this duplex located?

The property is located at 1825 Lyle Avenue Waco, TX.

What is the asking price?

The asking price for this property is $260,000.

What are key features of this property?

This property features: 2,876‑square‑foot duplex built in 1920; Large corner lot at 1825 Lyle Avenue; Located minutes from Baylor University