Duplex With Garage
For Sale
$545,000
3000 Ethel Avenue, Waco, TX 76707
Two separate residences provide flexible occupancy for an owner-user, rental arrangement, or multigenerational household.
Property Size1,932 SF
Price / SF$282.09
Days on Market317
Property Features for 3000 Ethel Avenue
General Information
Standard status
Active
Size
1,932 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Multiple Single Units
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,474
Amenities
Ceiling Fan(s), Central Air, Electric, Window Unit(s)
Central, Electric, Natural Gas, Space Heater
No
Carpet, Luxury Vinyl Plank, Vinyl, Wood
Gas Range, Other
Other
Composition
One
1
Pillar/Post/Pier
Public Records
6
Building Details
Year Built
1920
Buildings
3
Listing Agency:
Graceland Real Estate
Listed By:
Patricia Meadows · License #0488304
(254) 709-9955
Source:
Compass
Added: Dec 10, 2025
Changed: Oct 16
Last Checked: Oct 20 at 11:01PM
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 Graceland Real Estate
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Investment Insights
Based on property information with market context.
This duplex-style property combines two residences under one ownership record, with a total property size of 1,932 square feet. The primary dwelling is a single-family home, while the second residence is a 1-bedroom, 1-bath garage apartment at 1412 N 30th St. The apartment includes a compact residential layout suited to private occupancy or rental use. Interior details across the property include luxury vinyl plank flooring, ceiling fans, window units, window coverings, natural gas, a space heater, a gas cooktop, and a gas water heater.
The main residence is located at 3000 Ethel Avenue in Waco, with the two-home setup offering separation between occupants. The property is near downtown Waco, Baylor University, shopping, and local amenities. Built in 1920, the property received a new roof approximately in 2018.
The main residence is located at 3000 Ethel Avenue in Waco, with the two-home setup offering separation between occupants. The property is near downtown Waco, Baylor University, shopping, and local amenities. Built in 1920, the property received a new roof approximately in 2018.
Key Highlights
- Two residences on one property: a primary home and a 1‑bedroom, 1‑bath garage apartment
- 1,932‑square‑foot property with separate homes at 3000 Ethel Avenue and 1412 N 30th St
- New roof installed approximately 2018
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,736
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,720
$334.7K
Cap Rate 7%
$239,086
$239.1K
Cap Rate 9%
$185,956
$186.0K
Market Conditions
NOI Build-Up for 1,932 SF
Gross rent
$26.2K $13.56/SF
− Vacancy
−$2.3K −$1.19/SF
EGI
$23.9K $12.37/SF
− OpEx
−$7.2K −$3.71/SF
NOI
$16.7K $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%
$334,720
Cap Rate 7%
$239,086
Cap Rate 9%
$185,956
Alternative Uses
Best Use
Multifamily LT 5
$239.1K
$209.2K – $278.9K
NOI $16,736 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$220.0K
$192.5K – $256.7K
NOI $15,399 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$509.7K
$446.0K – $594.7K
NOI $35,680 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide flexible occupancy for an owner-user, rental arrangement, or multigenerational household.
Where is this duplex located?
The property is located at 3000 Ethel Avenue Waco, TX.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Two residences on one property: a primary home and a 1‑bedroom, 1‑bath garage apartment; 1,932‑square‑foot property with separate homes at 3000 Ethel Avenue and 1412 N 30th St; New roof installed approximately 2018
