New-Construction Duplex with Separate
For Sale
$385,000
1919 Burnett Ave Unit A & B, Waco, TX 76707
Two residential units feature three bedrooms and two-and-a-half baths each.
Property Size2,710 SF
Price / SF$142.07
Days on Market13
Property Features for 1919 Burnett Ave Unit A & B
General Information
Standard status
Active
Size
2,710 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Anchor Realty
(254) 338-9671
Listed By:
Bailey Eickenloff · License #0790970
Source:
Easttxhomesforsale
Added: Aug 18
Changed: Aug 28
Last Checked: Aug 29 at 10:32AM
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 Anchor Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two residential units with matching three-bedroom, two-and-a-half-bath layouts. Each side includes an open living, kitchen, and dining arrangement, with the bedrooms positioned upstairs. The property has new foundation, roof, HVAC, electrical, plumbing, and LVP flooring, along with contemporary interior finishes.
Separate electric meters serve the units, allowing utilities to be tracked independently. The address is on Burnett Avenue in Waco, with Baylor University, downtown Waco, and I-35 each described as minutes away. The property supports an income-producing residential configuration or owner occupancy of one unit alongside use of the other.
Separate electric meters serve the units, allowing utilities to be tracked independently. The address is on Burnett Avenue in Waco, with Baylor University, downtown Waco, and I-35 each described as minutes away. The property supports an income-producing residential configuration or owner occupancy of one unit alongside use of the other.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2.5 baths per unit
- Built in 2026 with new foundation, roof, HVAC, electrical, and plumbing
- Open living, kitchen, and dining areas in each unit
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
$23,475
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
6.10%
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%
$469,500
$469.5K
Cap Rate 7%
$335,357
$335.4K
Cap Rate 9%
$260,833
$260.8K
Market Conditions
NOI Build-Up for 2,710 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
$36.7K $13.56/SF
− Vacancy
−$3.2K −$1.19/SF
EGI
$33.5K $12.37/SF
− OpEx
−$10.1K −$3.71/SF
NOI
$23.5K $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%
$469,500
Cap Rate 7%
$335,357
Cap Rate 9%
$260,833
Alternative Uses
Best Use
Multifamily LT 5
$335.4K
$293.4K – $391.3K
NOI $23,475 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$308.6K
$270.0K – $360.0K
NOI $21,600 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$715.0K
$625.6K – $834.1K
NOI $50,048 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
711
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 - Two residential units feature three bedrooms and two-and-a-half baths each.
Where is this duplex located?
The property is located at 1919 Burnett Ave Unit A & B Waco, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2.5 baths per unit; Built in 2026 with new foundation, roof, HVAC, electrical, and plumbing; Open living, kitchen, and dining areas in each unit
