Three-Unit Residential Income
For Sale
$300,000
2604 Lasker Avenue, Waco, TX 76707
Triplex with three separate units, including one 3-bedroom and two 1-bedroom residences.
Property Size2,412 SF
Price / SF$124.38
Days on Market1238
Property Features for 2604 Lasker Avenue
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Triplex
Taxes and HOA fees
Annual Taxes
$2,655
Amenities
Electric
3
Refrigerator, Range, Oven
Composition
No Fence
R-1B
Parking.
No Parking, Gravel, On Street.
Wood
No Pool
None.
Building Details
Year Built
1920
Listing Agency:
Harrell Realty Company
(254) 772-8572
Listed By:
Hunter Harrell · License #TX-619933
(254) 776-7599
Source:
Xome
Added: Apr 20, 2023
Changed: Sep 1
Last Checked: Sep 7 at 5:05AM
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 Harrell Realty Company
Investment Insights
Based on property information with market context.
This for-sale triplex at 2604 Lasker Avenue includes three separate residential units. Unit A offers 3 bedrooms and 1 bathroom with 1,090 square feet of living space. Units B and C each provide 1 bedroom and 1 bathroom with 660 square feet.
The seller notes that tenant lease details are available upon request, and the property may be purchased individually or as part of a larger investment package with other properties.
Total property size is listed as 2,412 square feet, and the asset is located in Waco, TX.
The seller notes that tenant lease details are available upon request, and the property may be purchased individually or as part of a larger investment package with other properties.
Total property size is listed as 2,412 square feet, and the asset is located in Waco, TX.
Key Highlights
- Triplex at 2604 Lasker Avenue with three separate units: Unit A (3BR/1BA, 1,090 SF) plus Units B and C (1BR/1BA, 660 SF each).
- Tenant lease details are available upon request.
- Wood exterior and a composition roof.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,894
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$417,880
$417.9K
Cap Rate 7%
$298,486
$298.5K
Cap Rate 9%
$232,156
$232.2K
Market Conditions
NOI Build-Up for 2,412 SF
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.
Gross rent
$32.7K $13.56/SF
− Vacancy
−$2.9K −$1.19/SF
EGI
$29.8K $12.37/SF
− OpEx
−$9.0K −$3.71/SF
NOI
$20.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$417,880
Cap Rate 7%
$298,486
Cap Rate 9%
$232,156
Alternative Uses
Best Use
Multifamily LT 5
$298.5K
$261.2K – $348.2K
NOI $20,894 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$274.6K
$240.3K – $320.4K
NOI $19,225 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$636.4K
$556.8K – $742.4K
NOI $44,545 @ 7.0% cap · market cap 14.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
323
Businesses Nearby
Explore this area
Business Placement
Demographics for 76707, TX
16,227
Population
6,678
Households
2.4
Avg Household Size
31
Median Age
15%
College-Educated
76%
High-School Grad
3.3 sq mi
ZIP Area
4,917
Density / Sq Mi
$38,208
Median Household Income
$27,124
Median Earnings
$1,055
Median Rent
$113,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three separate units, including one 3-bedroom and two 1-bedroom residences.
Where is this triplex located?
The property is located at 2604 Lasker Avenue Waco, TX.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Triplex at 2604 Lasker Avenue with three separate units: Unit A (3BR/1BA, 1,090 SF) plus Units B and C (1BR/1BA, 660 SF each).; Tenant lease details are available upon request.; Wood exterior and a composition roof.
