20-Unit Duplex Apartment
For Sale
$4,250,000
2300-2338 Century Drive, Waco, TX 76712
ResidentialIncome, Waco, TX
Property Size21,950 SF
Lot Size2.28 Acres
Price / SF$193.62
Days on Market284
Property Features for 2300-2338 Century Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
25
Bathrooms
20
Full bathrooms
20
Rooms
Bedroom 14, Bedroom 7, Bathroom 4, Bedroom 5, Bedroom 16, Bedroom 3, Bathroom 19, Bathroom 14, Bathroom 1, Bedroom 19, Bathroom 5, Bedroom 18, Bathroom 3, Bedroom 20, Bathroom 10, Bedroom 11, Bedroom 12, Bedroom 8, Bathroom 6, Bedroom 1, Bathroom 13, Bathroom 20, Bedroom 6, Bedroom 9, Bathroom 2, Bedroom 2, Bedroom 4, Bathroom 8, Bathroom 16, Bedroom 15, Bedroom 13, Bathroom 9, Bathroom 11, Bedroom 21, Bedroom 23, Bathroom 17, Bedroom 10, Bedroom 24, Bathroom 15, Bathroom 18, Bedroom 25, Bedroom 22, Bedroom 17, Bathroom 12, Bathroom 7
Parking
20
Parking features
Assigned, Carport, Covered
Interior features
WalkInClosets
Fencing
Fenced
Appliances
Dishwasher, ElectricRange, ElectricWaterHeater, Microwave, Refrigerator
Subdivision
Panther Way Est.
Elementary school
Hewitt
Middle school
Midway
High school
Midway
Elementary school district
Midway ISD
Middle school district
Midway ISD
High school district
Midway ISD
Directions
Heading Southeast on Hewitt Drive, Turn Left onto Panther Way. The property will be on your right side, across from Hewitt Elementary.
Standard status
Active
APN
148761
Size
21,950 SF
Lot size
2.28 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Central Air, Electric, Ceiling Fan(s)
Water source
Public
Amenities
in-unit washer-dryer hookups
covered parking
Building Details
Year built
2018
Floors in Building
1
Number of units
20
Flooring type
Carpet, Vinyl
Building materials
Brick, Rock, Stone
Roof type
Composition
Listing Agency:
Keller Williams Realty, Waco
(254) 751-7900
Listed By:
Brad Harrell · License #363789
(254) 717-9306
Added: Jan 5
Changed: Sep 17
Last Checked: Oct 16 at 12:06PM
MLS# 21091942
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Constructed in 2018, this multifamily property comprises 20 units arranged within 10 duplex buildings on 2.2765 acres. The 21,950-square-foot community includes an even mix of 10 two-bedroom, two-bath units and 10 three-bedroom, two-bath units. Individual residences feature open living areas, walk-in closets, contemporary finishes, and washer-dryer hookups, with covered assigned parking provided. Brick, rock, and stone exterior materials complement fenced grounds, while central electric heating and cooling support year-round operation. Public water and sewer serve the property.
The property is located at 2300-2338 Century Drive in Waco, Texas, directly across from Hewitt Elementary School and near Highway 84 and Hewitt Drive. Its setting within Midway ISD places the community near local retail, employment centers, and major transportation routes. Interior finishes include carpet and vinyl flooring, with appliances including refrigerators, microwaves, dishwashers, and electric ranges.
The property is located at 2300-2338 Century Drive in Waco, Texas, directly across from Hewitt Elementary School and near Highway 84 and Hewitt Drive. Its setting within Midway ISD places the community near local retail, employment centers, and major transportation routes. Interior finishes include carpet and vinyl flooring, with appliances including refrigerators, microwaves, dishwashers, and electric ranges.
Key Highlights
- 20 units across 10 duplex buildings on 2.2765 acres
- Unit mix includes 10 2‑bedroom‑2‑bath and 10 3‑bedroom‑2‑bath residences
- 21,950 square feet; constructed in 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$174,951
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,499,020
$3.5M
Cap Rate 7%
$2,499,300
$2.5M
Cap Rate 9%
$1,943,900
$1.9M
Market Conditions
NOI Build-Up for 21,950 SF
Gross rent
$350.3K $15.96/SF
− Vacancy
−$32.2K −$1.47/SF
EGI
$318.1K $14.49/SF
− OpEx
−$143.1K −$6.52/SF
NOI
$175.0K $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%
$3,499,020
Cap Rate 7%
$2,499,300
Cap Rate 9%
$1,943,900
Alternative Uses
Best Use
Apartment 5plus
$2.50M
$2.19M – $2.92M
NOI $174,951 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.79M
$5.07M – $6.76M
NOI $405,373 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
20
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
167
Businesses Nearby
Explore this area
Business Placement
Demographics for 76712, TX
27,800
Population
11,704
Households
2.4
Avg Household Size
41
Median Age
49%
College-Educated
96%
High-School Grad
52.4 sq mi
ZIP Area
531
Density / Sq Mi
$96,267
Median Household Income
$56,879
Median Earnings
$1,333
Median Rent
$302,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Modern rental housing offers covered assigned parking, contemporary finishes, and in-unit washer-dryer hookups.
Where is this apartment building located?
The property is located at 2300-2338 Century Drive Waco, TX.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 20 units across 10 duplex buildings on 2.2765 acres; Unit mix includes 10 2‑bedroom‑2‑bath and 10 3‑bedroom‑2‑bath residences; 21,950 square feet; constructed in 2018
