New Construction
For Sale
$399,900
3407 Pewitt Drive, Waco, TX 76706
Two modern units feature durable finishes, private covered patios, and open living areas suited to low-maintenance occupancy.
Property Size2,402 SF
Price / SF$166.49
Days on Market143
Property Features for 3407 Pewitt Drive
General Information
Standard status
Active
Size
2,402 SF
Total Parking Spaces
6
Property subtype
Multi-Family / Full Duplex
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$554
Amenities
private covered patio
Ceiling Fan(s), Central Air, Electric
Central, Electric
Concrete, Painted/Stained
Electric Water Heater, Microwave
2402.0
Granite Counters, Open Floorplan
No
Composition, Shingle
One
Back Yard, Chain Link, Partial
Covered Patio/Porch
1
Slab
Plans
2
Brick
Covered, Front Porch
Building Details
Year Built
2026
Buildings
1
Construction
brick
Listing Agency:
EG Realty
(254) 644-5508
Listed By:
Anel Perales · License #651652
(254) 644-5508
Source:
Compass
Added: Apr 10
Changed: Aug 29
Last Checked: Aug 29 at 8:03PM
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 2026-built brick duplex contains two 1,201-square-foot units, each with three bedrooms, two bathrooms, and an open-concept floor plan. Interior details include stained concrete flooring, foam insulation, granite countertops, custom cabinetry, modern tile bathroom surrounds, central air, and electric service. Each residence also has a private covered patio and front porch.
Located at 3407 Pewitt Drive in Waco, the property includes parking for up to six vehicles. The exterior features composition shingle roofing, brick construction, slab foundation, and a partially fenced backyard. The two-unit configuration offers separate living spaces within a single 2,402-square-foot property.
Located at 3407 Pewitt Drive in Waco, the property includes parking for up to six vehicles. The exterior features composition shingle roofing, brick construction, slab foundation, and a partially fenced backyard. The two-unit configuration offers separate living spaces within a single 2,402-square-foot property.
Key Highlights
- Two‑unit duplex with 2,402 square feet completed in 2026
- Each unit offers 3 bedrooms, 2 bathrooms, and 1,201 square feet
- Foam insulation, central air, and stained concrete flooring
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
$20,807
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
5.20%
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%
$416,140
$416.1K
Cap Rate 7%
$297,243
$297.2K
Cap Rate 9%
$231,189
$231.2K
Market Conditions
NOI Build-Up for 2,402 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
$32.6K $13.56/SF
− Vacancy
−$2.8K −$1.19/SF
EGI
$29.7K $12.37/SF
− OpEx
−$8.9K −$3.71/SF
NOI
$20.8K $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%
$416,140
Cap Rate 7%
$297,243
Cap Rate 9%
$231,189
Alternative Uses
Best Use
Multifamily LT 5
$297.2K
$260.1K – $346.8K
NOI $20,807 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$273.5K
$239.3K – $319.1K
NOI $19,145 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$633.7K
$554.5K – $739.3K
NOI $44,360 @ 7.0% cap · market cap 11.09%
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
226
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two modern units feature durable finishes, private covered patios, and open living areas suited to low-maintenance occupancy.
Where is this duplex located?
The property is located at 3407 Pewitt Drive Waco, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,402 square feet completed in 2026; Each unit offers 3 bedrooms, 2 bathrooms, and 1,201 square feet; Foam insulation, central air, and stained concrete flooring
