Three-Unit Triplex with Updated
For Sale
$295,000
2624 N 17th Street, Waco, TX 76708
Three rental units include varied bedroom layouts, with an upstairs kitchen remodeled in 2024.
Property Size3,044 SF
Price / SF$96.91
Days on Market8
Property Features for 2624 N 17th Street
General Information
Standard status
Active
Size
3,044 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
3
Additional Details
Tenant in Place
Yes
Building Details
Year Built
1904
Listing Agency:
Summit Executive Realty
(318) 747-3117
Listed By:
Fritz Realty Group
(469) 789-6769
Source:
Fritzrealtygroup
Added: Oct 26
Changed: Nov 1
Last Checked: Nov 1 at 5:18AM
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 Summit Executive Realty
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Investment Insights
Based on property information with market context.
This 3,044-square-foot triplex contains three rental units. Two apartments have one bedroom, one bathroom, and a living room that can serve as a second bedroom. The upper-level unit includes two bedrooms, a living room, one bathroom, and a kitchen remodeled in 2024. The roof was also replaced in 2024.
Two leases are month-to-month, and those tenants have each occupied their units for at least a year. The lease for Unit B runs through March 31, 2027. Built in 1904, the property is located at 2624 N 17th Street in Waco, Texas.
Two leases are month-to-month, and those tenants have each occupied their units for at least a year. The lease for Unit B runs through March 31, 2027. Built in 1904, the property is located at 2624 N 17th Street in Waco, Texas.
Key Highlights
- Three rental units in a 3,044‑square‑foot triplex
- Two one‑bedroom, one‑bathroom units have living rooms that can function as second bedrooms
- Upper‑level apartment has two bedrooms, one bathroom, and a kitchen remodeled in 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,368
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,360
$527.4K
Cap Rate 7%
$376,686
$376.7K
Cap Rate 9%
$292,978
$293.0K
Market Conditions
NOI Build-Up for 3,044 SF
Gross rent
$41.3K $13.56/SF
− Vacancy
−$3.6K −$1.19/SF
EGI
$37.7K $12.37/SF
− OpEx
−$11.3K −$3.71/SF
NOI
$26.4K $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%
$527,360
Cap Rate 7%
$376,686
Cap Rate 9%
$292,978
Alternative Uses
Best Use
Multifamily LT 5
$376.7K
$329.6K – $439.5K
NOI $26,368 @ 7.0% cap · market cap 8.94%
Second Best
Apartment 5plus
$346.6K
$303.3K – $404.4K
NOI $24,262 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$803.1K
$702.7K – $937.0K
NOI $56,217 @ 7.0% cap · market cap 19.06%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
241
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?
Triplex - Three rental units include varied bedroom layouts, with an upstairs kitchen remodeled in 2024.
Where is this triplex located?
The property is located at 2624 N 17th Street Waco, TX.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Three rental units in a 3,044‑square‑foot triplex; Two one‑bedroom, one‑bathroom units have living rooms that can function as second bedrooms; Upper‑level apartment has two bedrooms, one bathroom, and a kitchen remodeled in 2024
