Spacious Baylor Investment
For Sale
$965,000
1915 S 7th Street, Waco, TX 76706
8-bedroom property near Baylor, ideal for student living.
Property Size3,568 SF
Days on Market218
Property Features for 1915 S 7th Street
General Information
Standard status
Active
Size
3,568 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$12,058
Building Details
Building Size
3,568 SF
Year Built
2000
Listing Agency:
Keller Williams Realty, Waco
Listed By:
Melissa Harrell · License #647271
(979) 693-9100
Source:
Whitelabelrealty
Added: Mar 11
Changed: Oct 1
Last Checked: Oct 13 at 12:02AM
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 property, originally designed as a duplex, functions as a single-family residence. It features 8 bedrooms, 4 full bathrooms, and 2 half bathrooms. Each side of the house mirrors the other, including its own living area, kitchen, dining space, laundry room, and half bath downstairs. Upstairs, each side has four bedrooms and two bathrooms. A screened-in porch stretches across the back of the home. The privacy-fenced backyard includes a fire pit. The property is located in the Baylor Bubble area and is suitable for student living, offering rental potential.
Key Highlights
- Prime location within the 'Baylor Bubble,' highly desirable for Baylor students.
- 8 bedrooms and 4 full (plus 2 half) bathrooms, ideal for accommodating large groups of students.**
- Originally designed as a duplex, offering flexible living arrangements and potential for rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,907
Cap Rate
3.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$618,140
$618.1K
Cap Rate 7%
$441,529
$441.5K
Cap Rate 9%
$343,411
$343.4K
Market Conditions
NOI Build-Up for 3,568 SF
Gross rent
$48.4K $13.56/SF
− Vacancy
−$4.2K −$1.19/SF
EGI
$44.2K $12.37/SF
− OpEx
−$13.2K −$3.71/SF
NOI
$30.9K $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 Rate 5%
$618,140
Cap Rate 7%
$441,529
Cap Rate 9%
$343,411
Alternative Uses
Best Use
Multifamily LT 5
$441.5K
$386.3K – $515.1K
NOI $30,907 @ 7.0% cap · market cap 3.20%
Second Best
Apartment 5plus
$406.3K
$355.5K – $474.0K
NOI $28,438 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$941.3K
$823.7K – $1.10M
NOI $65,894 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
207
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - 8-bedroom property near Baylor, ideal for student living.
Where is this duplex located?
The property is located at 1915 S 7th Street Waco, TX.
What is the asking price?
The asking price for this property is $965,000.
What are key features of this property?
This property features: Prime location within the 'Baylor Bubble,' highly desirable for Baylor students.; 8 bedrooms and 4 full (plus 2 half) bathrooms, ideal for accommodating large groups of students.**; Originally designed as a duplex, offering flexible living arrangements and potential for rental income.
