Well-Maintained Duplex with Community
309 Gurley Lane Unit 2 Waco, TX 76706
For Sale
$519,000
Duplex with two 3-bedroom, 3.5-bath units, 100% occupancy, and HOA amenities including a community pool and cable internet.
Property Size2,700 SF
Price / SF$192.22
Days on Market117
Property Features for 309 Gurley Lane Unit 2
General Information
- Standard status
- Active
- Size
- 2,700 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 2005
Listing Agency:
Bentwood Realty
(254) 855-3008
Listed By:
Amber Sheehan · License #623463
(254) 855-3008
Source:
Compass
Added: Mar 30
Changed: Jul 23
Last Checked: Jul 23 at 7:50AM
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 Bentwood Realty
Investment Insights
Based on property information with market context.
This well-maintained duplex offers two separate units, each with a functional layout featuring 3 bedrooms and 3.5 bathrooms. Unit A has been updated with laminate wood flooring throughout, granite countertops, and all appliances conveying, making it move-in ready. Unit B features laminate wood flooring with carpet in select bedrooms and granite countertops, providing a comfortable, versatile living space. Both units include generous living areas, open kitchen layouts, and upstairs bedrooms for added privacy.
The property is located in Waco, TX, just minutes from Baylor University, with shopping and dining nearby.
The duplex is currently 100% occupied and presented as a turnkey income-producing asset. The HOA includes access to a community pool, as well as cable internet and lawn care. A major update includes a new roof installed in 2025.
The property is located in Waco, TX, just minutes from Baylor University, with shopping and dining nearby.
The duplex is currently 100% occupied and presented as a turnkey income-producing asset. The HOA includes access to a community pool, as well as cable internet and lawn care. A major update includes a new roof installed in 2025.
Key Highlights
- Two‑story duplex built in 2005 with 2 total units, each featuring 3 bedrooms and 3.5 bathrooms
- 100% occupancy reported and property includes a rear porch; open floorplan design in the interior
- Unit A updated with laminate wood flooring, granite countertops, and all appliances conveying
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.6k | $13.56 |
| − Vacancy | −$3.2k | −$1.19 |
| EGI | $33.4k | $12.37 |
| − OpEx | −$10.0k | −$3.71 |
| NOI | $23.4k | $8.66 |
2,700 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$334.1K
$292.4K – $389.8K
NOI $23,388 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$307.4K
$269.0K – $358.7K
NOI $21,520 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$712.3K
$623.3K – $831.1K
NOI $49,864 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex with two 3-bedroom, 3.5-bath units, 100% occupancy, and HOA amenities including a community pool and cable internet.
Where is this duplex located?
The property is located at 309 Gurley Lane Unit 2 Waco, TX.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑story duplex built in 2005 with 2 total units, each featuring 3 bedrooms and 3.5 bathrooms; 100% occupancy reported and property includes a rear porch; open floorplan design in the interior; Unit A updated with laminate wood flooring, granite countertops, and all appliances conveying
