Three-Property Multifamily
For Sale
$150,000
2730 Mildred St, Waco, TX 76706
The assemblage includes updated roofing and numerous replacement vinyl windows across the rental properties.
Property Size1,040 SF
Price / SF$144.23
Days on Market96
Property Features for 2730 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
Listed By:
Heather Cathey
(254) 776-1296
Source:
Dfwareahousehunt
Added: May 30
Changed: Aug 31
Last Checked: Aug 31 at 5:34PM
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 multifamily offering combines three properties at 2722 Mildred, 2726 Mildred, and 2730 Mildred St. The properties are being sold together as one assemblage and were constructed in 1996. Property information identifies 1,040 SF and notes that many windows have been replaced with vinyl units. The roof has also been updated since the original construction date.
Current tenants retain the right to remain in their respective properties at their existing lease rates for 90 days after execution of the buyer’s contract. The three properties correspond to MLS numbers 21287460, 21288472, and 21288555.
Current tenants retain the right to remain in their respective properties at their existing lease rates for 90 days after execution of the buyer’s contract. The three properties correspond to MLS numbers 21287460, 21288472, and 21288555.
Key Highlights
- Three multifamily properties sold together at 2722, 2726, and 2730 Mildred St
- 1,040 SF property size identified
- Built in 1996
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - The assemblage includes updated roofing and numerous replacement vinyl windows across the rental properties.
Where is this multifamily property located?
The property is located at 2730 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 multifamily properties sold together at 2722, 2726, and 2730 Mildred St; 1,040 SF property size identified; Built in 1996
