Two-Story
For Sale
$299,000
2719-2721 Parrott Ave, Waco, TX 76707
Tenant-occupied property with separate units and a flexible two-bedroom and three-bedroom configuration.
Property Size2,808 SF
Price / SF$106.48
Days on Market256
Property Features for 2719-2721 Parrott Ave
General Information
Standard status
Active
Size
2,808 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Gross Income
$9,600
Building Details
Year Built
1929
Stories
2
Listing Agency:
Agents Of Texas, LLC
Listed By:
Cameron Gomez · License #0711443
(817) 501-2996
Source:
Realestatestation
Added: Jan 31
Changed: Oct 1
Last Checked: Oct 12 at 7:58PM
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 Agents Of Texas, LLC
Investment Insights
Based on property information with market context.
This two-story duplex contains 2,808 square feet and was built in 1929. The property is divided into two independent residences: one offers three bedrooms and one bathroom, while the other provides two bedrooms and one bathroom. The separate-unit layout supports both rental ownership and an owner-occupant arrangement, as described in the property information.
Located at 2719–2721 Parrott Ave in Waco, Texas, the duplex is currently tenant-occupied. Its two-unit configuration and differing bedroom counts provide a straightforward residential income property format for buyers seeking an established duplex asset.
Located at 2719–2721 Parrott Ave in Waco, Texas, the duplex is currently tenant-occupied. Its two-unit configuration and differing bedroom counts provide a straightforward residential income property format for buyers seeking an established duplex asset.
Key Highlights
- Two‑story duplex with 2,808 square feet
- Two separate residential units
- Unit mix includes 3 bedrooms/1 bathroom and 2 bedrooms/1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,324
Cap Rate
8.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$486,480
$486.5K
Cap Rate 7%
$347,486
$347.5K
Cap Rate 9%
$270,267
$270.3K
Market Conditions
NOI Build-Up for 2,808 SF
Gross rent
$38.1K $13.56/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$34.7K $12.37/SF
− OpEx
−$10.4K −$3.71/SF
NOI
$24.3K $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%
$486,480
Cap Rate 7%
$347,486
Cap Rate 9%
$270,267
Alternative Uses
Best Use
Multifamily LT 5
$347.5K
$304.1K – $405.4K
NOI $24,324 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$319.7K
$279.8K – $373.0K
NOI $22,381 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$740.8K
$648.2K – $864.3K
NOI $51,858 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
303
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
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Frequently Asked Questions
What type of property is this?
Duplex - Tenant-occupied property with separate units and a flexible two-bedroom and three-bedroom configuration.
Where is this duplex located?
The property is located at 2719-2721 Parrott Ave 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: Two‑story duplex with 2,808 square feet; Two separate residential units; Unit mix includes 3 bedrooms/1 bathroom and 2 bedrooms/1 bathroom
