Leased Two-Unit
New
For Sale
$199,900
2316 Mckenzie Avenue #18, Waco, TX 76708
Both residences have private entries, dedicated parking, and individual laundry hookups.
Property Size1,897 SF
Price / SF$105.38
Days on Market1
Property Features for 2316 Mckenzie Avenue #18
General Information
Standard status
Active
Size
1,897 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
granite countertops
luxury vinyl plank flooring and carpet
central air conditioning
individual laundry hookups
private entrance
Building Details
Year Built
1910
Listing Agency:
Kelly, Realtors
(254) 741-1500
Listed By:
Kathryn Townson · License #0689732
(281) 813-9372
Source:
Dallasandbeyond
Added: Oct 19
Last Checked: Oct 19 at 1:59PM
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 Kelly, Realtors
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Investment Insights
Based on property information with market context.
Built in 1910, this 1,897-square-foot duplex contains two separate residences. Each unit has two bedrooms, one bathroom, granite countertops, a mix of luxury vinyl plank and carpet flooring, and central air conditioning. Individual laundry hookups, a private entrance, and a dedicated parking space serve each residence.
Both units have active leases. The property is located at 2316 McKenzie Avenue in Waco, Texas, and is also offered as part of a larger portfolio with MLS 21409129 and MLS 21409264.
Both units have active leases. The property is located at 2316 McKenzie Avenue in Waco, Texas, and is also offered as part of a larger portfolio with MLS 21409129 and MLS 21409264.
Key Highlights
- Two‑unit duplex with 1,897 square feet; built in 1910
- Each unit offers 2 bedrooms and 1 bathroom
- Granite countertops and luxury vinyl plank flooring with carpet in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,433
Cap Rate
8.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$328,660
$328.7K
Cap Rate 7%
$234,757
$234.8K
Cap Rate 9%
$182,589
$182.6K
Market Conditions
NOI Build-Up for 1,897 SF
Gross rent
$25.7K $13.56/SF
− Vacancy
−$2.2K −$1.19/SF
EGI
$23.5K $12.37/SF
− OpEx
−$7.0K −$3.71/SF
NOI
$16.4K $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%
$328,660
Cap Rate 7%
$234,757
Cap Rate 9%
$182,589
Alternative Uses
Best Use
Multifamily LT 5
$234.8K
$205.4K – $273.9K
NOI $16,433 @ 7.0% cap · market cap 8.22%
Second Best
Apartment 5plus
$216.0K
$189.0K – $252.0K
NOI $15,120 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$500.5K
$437.9K – $583.9K
NOI $35,034 @ 7.0% cap · market cap 17.53%
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
281
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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Cap Rate, Value Estimation, Potential NOI and more
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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 private entries, dedicated parking, and individual laundry hookups.
Where is this duplex located?
The property is located at 2316 Mckenzie Avenue #18 Waco, TX.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,897 square feet; built in 1910; Each unit offers 2 bedrooms and 1 bathroom; Granite countertops and luxury vinyl plank flooring with carpet in each unit
