New Income-Producing Duplex
For Sale
$349,900
Pending
3109 North 27th Street, Waco, TX 76708
New duplex with immediate rental income and modern design.
Property Size2,110 SF
Days on Market103
Property Features for 3109 North 27th Street
General Information
Standard status
Pending
Size
2,110 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Taxes and HOA fees
Annual Taxes
$6,981
Amenities
Ceiling Fan(s), Central Air, Electric
Central, Electric
Concrete, Painted/Stained
Electric Water Heater
2110.0
Decorative Lighting, Granite Counters, Open Floorplan, Pantry, Walk-In Closet(s)
No
Composition, Shingle
One
Covered Patio/Porch
1
Slab
Plans
2
Brick
Front Porch
Building Details
Year Built
2025
Buildings
1
Listing Agency:
EG Realty
(254) 644-5508
Listed By:
Anel Perales · License #651652
(254) 644-5508
Source:
Compass
Added: May 18
Changed: Aug 9
Last Checked: Aug 7 at 7:49AM
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 EG Realty
Investment Insights
Based on property information with market context.
This new income-producing duplex is designed for durability, efficiency, and long-term investment potential. Each side features 3 bedrooms and 2 bathrooms of living space. The property is currently leased through the end of this year, providing rental income. Each unit features an open-concept layout with finishes including granite countertops, custom cabinetry, stained concrete flooring, and tile surrounds in the bathrooms. The primary bedroom includes a walk-in closet. Foam insulation enhances energy efficiency. Each unit offers a private covered patio along with parking for up to 6 vehicles.
Key Highlights
- Brand new duplex built in 2025, offering modern construction and appeal.
- Currently leased through the end of the year, providing immediate rental income.
- Each unit features 3 bedrooms and 2 bathrooms with an open‑concept layout.
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
$18,278
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
5.22%
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%
$365,560
$365.6K
Cap Rate 7%
$261,114
$261.1K
Cap Rate 9%
$203,089
$203.1K
Market Conditions
NOI Build-Up for 2,110 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
$28.6K $13.56/SF
− Vacancy
−$2.5K −$1.19/SF
EGI
$26.1K $12.37/SF
− OpEx
−$7.8K −$3.71/SF
NOI
$18.3K $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 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%
$365,560
Cap Rate 7%
$261,114
Cap Rate 9%
$203,089
Alternative Uses
Best Use
Multifamily LT 5
$261.1K
$228.5K – $304.6K
NOI $18,278 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$240.3K
$210.2K – $280.3K
NOI $16,818 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$556.7K
$487.1K – $649.5K
NOI $38,967 @ 7.0% cap · market cap 11.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 76708, TX
28,499
Population
11,241
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
48.1 sq mi
ZIP Area
592
Density / Sq Mi
$66,764
Median Household Income
$39,409
Median Earnings
$1,087
Median Rent
$204,600
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 - New duplex with immediate rental income and modern design.
Where is this duplex located?
The property is located at 3109 North 27th Street Waco, TX.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Brand new duplex built in 2025, offering modern construction and appeal.; Currently leased through the end of the year, providing immediate rental income.; Each unit features **3 bedrooms and 2 bathrooms** with an open‑concept layout.
