Three-Property Multifamily
For Sale
$150,000
2726 Mildred St, Waco, TX 76706
Three Mildred Street properties are offered together, with existing tenants permitted to remain for 90 days after contract execution.
Property Size1,040 SF
Price / SF$144.23
Days on Market91
Property Features for 2726 Mildred St
General Information
Standard status
Active
Size
1,040 SF
Property subtype
Multi-Family
Building Details
Year Built
1996
Buildings
3
Listing Agency:
JA Group Companies
(254) 776-1296
Listed By:
Heather Cathey
Source:
Findtexashomesforsale
Added: Jun 1
Changed: Aug 29
Last Checked: Aug 29 at 8:15PM
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 JA Group Companies
Investment Insights
Based on property information with market context.
This offering combines the multifamily properties at 2722 Mildred, 2726 Mildred, and 2730 Mildred St in Waco, Texas. The listed property dates to 1996, and the improvements include a roof updated after construction along with vinyl replacement windows in many openings.
The properties are being conveyed as a group. Current tenants may remain under their existing lease rates for 90 days following execution of the buyer’s contract, providing a defined transition period for occupancy arrangements.
The properties are being conveyed as a group. Current tenants may remain under their existing lease rates for 90 days following execution of the buyer’s contract, providing a defined transition period for occupancy arrangements.
Key Highlights
- Three Mildred Street properties offered together: 2722, 2726, and 2730 Mildred St
- Current tenants may remain at existing lease rates for 90 days from the executed buyer contract
- Many windows have been replaced with vinyl windows
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
$8,289
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
5.53%
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%
$165,780
$165.8K
Cap Rate 7%
$118,414
$118.4K
Cap Rate 9%
$92,100
$92.1K
Market Conditions
NOI Build-Up for 1,040 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
$16.6K $15.96/SF
− Vacancy
−$1.5K −$1.47/SF
EGI
$15.1K $14.49/SF
− OpEx
−$6.8K −$6.52/SF
NOI
$8.3K $7.97/SF
Area
Waco, TX
Vacancy
9.20%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$165,780
Cap Rate 7%
$118,414
Cap Rate 9%
$92,100
Alternative Uses
Best Use
Apartment 5plus
$118.4K
$103.6K – $138.2K
NOI $8,289 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$274.4K
$240.1K – $320.1K
NOI $19,207 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
160
Businesses Nearby
Explore this area
Business Placement
Demographics for 76706, TX
39,303
Population
16,600
Households
2.4
Avg Household Size
27
Median Age
23%
College-Educated
85%
High-School Grad
72.3 sq mi
ZIP Area
544
Density / Sq Mi
$42,277
Median Household Income
$23,954
Median Earnings
$1,063
Median Rent
$180,600
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?
Multifamily property - Three Mildred Street properties are offered together, with existing tenants permitted to remain for 90 days after contract execution.
Where is this multifamily property located?
The property is located at 2726 Mildred St Waco, TX.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Three Mildred Street properties offered together: 2722, 2726, and 2730 Mildred St; Current tenants may remain at existing lease rates for 90 days from the executed buyer contract; Many windows have been replaced with vinyl windows
