Modern Duplex with Open
For Sale
$299,900
3206 N 20th A St, Waco, TX 76708
Two matching residences offer three bedrooms, two bathrooms, and energy-efficient features in each unit.
Property Size1,438 SF
Price / SF$208.55
Days on Market100
Property Features for 3206 N 20th A St
General Information
Standard status
Active
Size
1,438 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
2020
Listing Agency:
Premier, REALTORS
(254) 855-4455
Listed By:
Eric Zadnik · License #475183
Source:
Findtexashomesforsale
Added: May 22
Changed: Aug 28
Last Checked: Aug 25 at 7:42AM
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 Premier, REALTORS
Investment Insights
Based on property information with market context.
Built in 2020, this duplex contains two substantially identical residences, each arranged with three bedrooms and two bathrooms. Both units feature modern finishes and appliances, along with energy-efficient elements that support practical day-to-day operation. The floorplans emphasize usable living space, with generously sized living rooms connected to open kitchens.
The property is located on N 20th A Street in Waco. Its two-unit configuration provides flexibility for an owner who wants to occupy one residence while leasing the other, or for an investor seeking a residential income property. Each unit provides the same bedroom, bathroom, and open-kitchen layout for consistent management and leasing presentation.
The property is located on N 20th A Street in Waco. Its two-unit configuration provides flexibility for an owner who wants to occupy one residence while leasing the other, or for an investor seeking a residential income property. Each unit provides the same bedroom, bathroom, and open-kitchen layout for consistent management and leasing presentation.
Key Highlights
- Two‑unit duplex constructed in 2020
- Each unit includes 3 bedrooms and 2 bathrooms
- Identical layouts provide consistent unit configuration
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
$12,457
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
4.15%
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%
$249,140
$249.1K
Cap Rate 7%
$177,957
$178.0K
Cap Rate 9%
$138,411
$138.4K
Market Conditions
NOI Build-Up for 1,438 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
$19.5K $13.56/SF
− Vacancy
−$1.7K −$1.19/SF
EGI
$17.8K $12.37/SF
− OpEx
−$5.3K −$3.71/SF
NOI
$12.5K $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%
$249,140
Cap Rate 7%
$177,957
Cap Rate 9%
$138,411
Alternative Uses
Best Use
Multifamily LT 5
$178.0K
$155.7K – $207.6K
NOI $12,457 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$163.7K
$143.3K – $191.0K
NOI $11,461 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$379.4K
$332.0K – $442.6K
NOI $26,557 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
254
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 - Two matching residences offer three bedrooms, two bathrooms, and energy-efficient features in each unit.
Where is this duplex located?
The property is located at 3206 N 20th A St Waco, TX.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex constructed in 2020; Each unit includes 3 bedrooms and 2 bathrooms; Identical layouts provide consistent unit configuration
