Corner-Lot
For Sale
$260,000
1825 Lyle Avenue, Waco, TX 76708
Two-unit residential property with central air, electric service, and luxury vinyl plank flooring.
Property Size2,876 SF
Price / SF$90.40
Days on Market205
Property Features for 1825 Lyle Avenue
General Information
Standard status
Active
Size
2,876 SF
Property subtype
Residential / Single Family Residence
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,598
Amenities
Bedroom, 2
Bedroom, 1
Central Air, Electric
Central, Electric
No
Luxury Vinyl Plank
2876.0
Bedroom-1-1, Bedroom-1-2, Bedroom-2-1, Bedroom-2-2, Bedroom-2-3
Cable TV Available, High Speed Internet Available
2
Composition, Shingle
Two
Bedroom
Pillar/Post/Pier
Wood
Building Details
Year Built
1920
Listing Agency:
JPAR
Listed By:
Ivette Martinez Delgado · License #0618711
(817) 863-4486
Source:
Compass
Added: Mar 13
Changed: Oct 1
Last Checked: Oct 2 at 10:52PM
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 JPAR
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.
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 = 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
$22,923
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
8.82%
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%
$458,460
$458.5K
Cap Rate 7%
$327,471
$327.5K
Cap Rate 9%
$254,700
$254.7K
Market Conditions
NOI Build-Up for 2,876 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
$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 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%
$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
NOI $24,913 @ 7.0% cap · market cap 9.58%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.1K
NOI $22,923 @ 7.0% cap · market cap 8.82%
Theoretical Best
Office A
$758.8K
$663.9K – $885.2K
NOI $53,114 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - 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
