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    Triplex Investment Property Title is generated by Realmo AI

    2604 Lasker Avenue, Waco, TX 76707

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    For Sale
    $300,000

    MULTI_FAMILY - Waco, TX

    Property size:
    2,410 SF
    Price / SF:
    $124/SF
    Added:
    Dec 30, 2025
    Days on Market:
    156
    Last Refresh:
    Jun 4 at 2:06 pm

    Property Features for 2604 Lasker Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bedroom 4
    Parking features
    On Street
    Appliances
    Refrigerator
    Standard status
    Active
    APN
    186328

    Taxes and HOA fees

    Tax Description
    PROVIDENT Lot 2 Block 44 Acres .1894
    Tax Annual Amount
    2654

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    1920
    Floors in Building
    2
    Number of units
    3
    Roof type
    Composition

    We can help!

    Listing Contact
    Hunter Harrell
    Hunter Harrell

    Listing agent Hunter Harrell License #0619933

    Listing office Harrell Realty Company Waco, TX

    Listing date Dec 30, 2025

    MLS# 225752

    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.

    HighLights

    • Multi‑property investment package at 2604 Lasker Avenue with 3 units: Unit A (3BR/1BA, 1,090 SF), Units B and C (1BR/1BA each, 660 SF)
    • Year built 1920
    • Composition roof
    • Electric heating and electric cooling
    • Parking available on street
    • Appliance included: refrigerator

    Overview

    A well-suited triplex for investors, this property includes three separate residential units at 2604 Lasker Avenue. Unit A features 3 bedrooms, 1 bathroom, and 1,090 square feet. Units B and C each provide 1 bedroom and 1 bathroom, with 660 square feet per unit. Lease details are available upon request, supporting underwriting and review for qualified buyers.

    Located in Waco, Texas within McLennan County, the property is offered as part of a broader “Lasker Avenue Investment Package.” The seller indicates it can be purchased as a standalone acquisition or grouped with other properties, depending on an investor’s portfolio strategy.

    This configuration is a practical fit for buyers seeking a multi-unit residential income asset with a mix of unit sizes. With three distinct layouts on one address, the property may appeal to investors looking to diversify tenant demand across different bedroom counts while evaluating long-term income potential. For brokers and operators, the option to acquire as a one-off or as part of a package provides flexibility when building out an acquisition plan.

    Local 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 $32.7k $13.56
    − Vacancy −$2.9k −$1.19
    EGI $29.8k $12.37
    − OpEx −$8.9k −$3.71
    NOI $20.9k $8.66
    2,410 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $298.2K
    $261.0K – $347.9K (±1% cap)
    NOI $20,876 @ 7.0% cap · market cap 6.96%
    Second Best
    Apartment 5plus
    $274.4K
    $240.1K – $320.2K (±1% cap)
    NOI $19,209 @ 7.0% cap · market cap 6.40%
    Theoretical Best
    Office A
    $635.8K
    $556.4K – $741.8K (±1% cap)
    NOI $44,508 @ 7.0% cap · market cap 14.84%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.164948
    Latitude
    31.554046

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    FAQs

    What type of property is this?
    Triplex - Three rental units offer income flexibility, with tenant lease details available upon request.
    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: Multi‑property investment package at 2604 Lasker Avenue with 3 units: Unit A (3BR/1BA, 1,090 SF), Units B and C (1BR/1BA each, 660 SF); Year built 1920; Composition roof
    (254) 772-8572
    We can help!
    Listing Contact
    Hunter Harrell
    Hunter Harrell
    Real Estate License ID: 0619933
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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