Duplex with Detached
For Sale
$229,900
2108 Lyle Ave, Waco, TX 76708
Both residences have separate entrances and private parking; the garage includes kitchen and bathroom plumbing for a potential guesthouse finish-out.
Property Size1,442 SF
Price / SF$159.43
Days on Market8
Property Features for 2108 Lyle Ave
General Information
Standard status
Active
Size
1,442 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1948
Construction
traditional
Listing Agency:
Coldwell Banker Apex, REALTORS
Listed By:
Trisha Menchu · License #708699
(254) 981-3171
Source:
Divinerealtygrp
Added: Oct 18
Changed: Oct 25
Last Checked: Oct 25 at 2:52AM
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 Coldwell Banker Apex, REALTORS
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Investment Insights
Based on property information with market context.
This 1948 duplex contains 1,442 square feet across two residences. The front unit has one bedroom and one bathroom, with a living room, eat-in kitchen, and storage closet. At the rear, the two-bedroom, one-bathroom unit includes an open living area, eat-in kitchen with bar seating, laundry, and pantry storage. Each residence has its own entrance and private parking.
A detached garage has been partly converted, with kitchen and bathroom plumbing in place. The property is in Waco, a short drive from restaurants, shops, and schools.
A detached garage has been partly converted, with kitchen and bathroom plumbing in place. The property is in Waco, a short drive from restaurants, shops, and schools.
Key Highlights
- Two residences totaling 1,442 square feet
- Front unit: 1 bedroom and 1 bathroom
- Rear unit: 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,491
Cap Rate
5.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$249,820
$249.8K
Cap Rate 7%
$178,443
$178.4K
Cap Rate 9%
$138,789
$138.8K
Market Conditions
NOI Build-Up for 1,442 SF
Gross rent
$19.6K $13.56/SF
− Vacancy
−$1.7K −$1.19/SF
EGI
$17.8K $12.37/SF
− OpEx
−$5.4K −$3.71/SF
NOI
$12.5K $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 Rate 5%
$249,820
Cap Rate 7%
$178,443
Cap Rate 9%
$138,789
Alternative Uses
Best Use
Multifamily LT 5
$178.4K
$156.1K – $208.2K
NOI $12,491 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$164.2K
$143.7K – $191.6K
NOI $11,493 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$380.4K
$332.9K – $443.9K
NOI $26,631 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
305
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have separate entrances and private parking; the garage includes kitchen and bathroom plumbing for a potential guesthouse finish-out.
Where is this duplex located?
The property is located at 2108 Lyle Ave Waco, TX.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two residences totaling 1,442 square feet; Front unit: 1 bedroom and 1 bathroom; Rear unit: 2 bedrooms and 1 bathroom
