4-Unit
For Sale
$360,000
2601 - 2603 Summer Avenue, Waco, TX 76708
MULTI_FAMILY - Waco, TX
Property Size2,876 SF
Lot Size0.19 Acres
Price / SF$125.17
Days on Market12
Property Features for 2601 - 2603 Summer Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 2, Bathroom 1, Bathroom 4
Interior features
CeilingFans
Appliances
ElectricRange, SomeElectricAppliances
Subdivision
Farwell Heights
Lot features
City Lot, Less Than Quarter Acre
Elementary school district
Waco ISD
Middle school district
Waco ISD
High school district
Waco ISD
Directions
From 35 - Take the exit to S Martin Luther King Dr; turn left onto Herring Ave. Turn right onto N 25th St. Turn left onto Summer Ave. Property will be on your right.
Standard status
Active
APN
48-017600-006300-4
Size
2,876 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
FARWELL HTS LOT 14 BLOCK 17 ACRES .1894
Tax Annual Amount
5388
Legal Description
FARWELL HTS LOT 14 BLOCK 17 ACRES .1894
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1949
Floors in Building
2
Number of units
1
Flooring type
Vinyl
Building materials
BoardAndBattenSiding
Roof type
Shingle, Composition
Listing Agency:
eXp Realty - Austin
(888) 519-7431
Listed By:
Lauren Rohr · License #0716656
(254) 630-0997
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 4 at 1:06PM
MLS# 620710
Copyright © 2026 Central Texas Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4-unit quadplex at 2601-2603 Summer Avenue in Waco, Texas includes four rental units totaling 6 bedrooms and 4 bathrooms. The unit mix consists of two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Interior features include ceiling fans, and the property has vinyl flooring. Heating and cooling are electric.
The exterior is described with board-and-batten siding, and the roof is composition shingle. Appliances referenced for the units include electric range and some electric appliances.
The property sits on a 0.1894-acre lot with a reported 2,876-square-foot building size and was built in 1949. Utilities are supported by public water and public sewer.
Location-wise, the property is described as being about 12 minutes from Magnolia Market at the Silos and Downtown Waco, and about 13 minutes from Baylor University.
The exterior is described with board-and-batten siding, and the roof is composition shingle. Appliances referenced for the units include electric range and some electric appliances.
The property sits on a 0.1894-acre lot with a reported 2,876-square-foot building size and was built in 1949. Utilities are supported by public water and public sewer.
Location-wise, the property is described as being about 12 minutes from Magnolia Market at the Silos and Downtown Waco, and about 13 minutes from Baylor University.
Key Highlights
- 0.1894‑acre lot with 2,876‑square‑foot quadplex built in 1949
- Four units total 6 bedrooms and 4 bathrooms: two 2/1 and two 1/1
- Electric heating and electric cooling
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.0k | $13.56 |
| − Vacancy | −$3.4k | −$1.19 |
| EGI | $35.6k | $12.37 |
| − OpEx | −$10.7k | −$3.71 |
| NOI | $24.9k | $8.66 |
2,876 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,913 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.1K
NOI $22,923 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$758.8K
$663.9K – $885.2K
NOI $53,114 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - 4-unit quadplex with 6 bedrooms and 4 bathrooms, electric heating and cooling, and public water and sewer.
Where is this quadplex located?
The property is located at 2601 - 2603 Summer Avenue Waco, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 0.1894‑acre lot with 2,876‑square‑foot quadplex built in 1949; Four units total 6 bedrooms and 4 bathrooms: two 2/1 and two 1/1; Electric heating and electric cooling
