Renovated Quadplex with
New
For Sale
$299,000
2601 Summer Avenue, Waco, TX 76708
Four residences provide a mix of one- and two-bedroom floor plans, each with appliances.
Property Size2,876 SF
Days on Market6
Property Features for 2601 Summer Avenue
General Information
Standard status
Active
Size
2,876 SF
Property subtype
Quadruplex
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$5,449
Amenities
appliances
oversized backyard
Building Details
Building Size
2,876 SF
Year Built
1949
Buildings
1
Listing Agency:
EG Realty
Listed By:
Greg Clark · License #657649
(254) 715-8418
Source:
Whitelabelrealty
Added: Oct 28
Changed: Oct 31
Last Checked: Nov 1 at 1:24PM
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 EG Realty
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Investment Insights
Based on property information with market context.
This renovated quadplex contains four independent residences. Two units have two bedrooms and one bathroom apiece; the other two offer one bedroom and one bathroom each. Appliances are included in every unit. Built in 1949, the property also has a backyard.
The property is near Downtown Waco, Baylor University, shopping, dining, and major employers. It is offered as-is, with cash or conventional financing preferred.
The property is near Downtown Waco, Baylor University, shopping, dining, and major employers. It is offered as-is, with cash or conventional financing preferred.
Key Highlights
- Four residences: two 2BR/1BA units and two 1BR/1BA units
- Renovated units include appliances
- Built in 1949
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,913
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,260
$498.3K
Cap Rate 7%
$355,900
$355.9K
Cap Rate 9%
$276,811
$276.8K
Market Conditions
NOI Build-Up for 2,876 SF
Gross rent
$39.0K $13.56/SF
− Vacancy
−$3.4K −$1.19/SF
EGI
$35.6K $12.37/SF
− OpEx
−$10.7K −$3.71/SF
NOI
$24.9K $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%
$498,260
Cap Rate 7%
$355,900
Cap Rate 9%
$276,811
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,913 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.1K
NOI $22,923 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$758.8K
$663.9K – $885.2K
NOI $53,114 @ 7.0% cap · market cap 17.76%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
211
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?
Quadplex - Four residences provide a mix of one- and two-bedroom floor plans, each with appliances.
Where is this quadplex located?
The property is located at 2601 Summer Avenue Waco, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Four residences: two 2BR/1BA units and two 1BR/1BA units; Renovated units include appliances; Built in 1949
