Furnished Short-Term Rental
3508 N 23rd St, Waco, TX 76708
For Sale
$235,000
Currently operated as an Airbnb, the updated home includes an open living area and a kitchen island with seating.
Property Size1,178 SF
Price / SF$199.49
Days on Market146
Property Features for 3508 N 23rd St
General Information
Standard status
Size
Property subtype
Additional Details
Furnished
Multifamily Units
Currently Operating
Building Details
Year Built
Buildings
Listing Agency:
Axio Real Estate LLC
Listed By:
Jody Scoggins · License #561614
(254) 744-0333
Source:
Dfwareahousehunt
Added: Jun 17
Changed: Nov 8
Last Checked: Nov 8 at 5:56PM
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 Axio Real Estate LLC
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Investment Insights
Based on property information with market context.
This furnished, updated home has 1,178 square feet, with three bedrooms and two bathrooms. Its open living area connects to a kitchen with an island and seating. The primary bedroom has a private bathroom. A detached garage provides additional storage or workspace, and the backyard is fully fenced.
The property is currently operated as an Airbnb. McLennan Community College, local shopping, and dining are nearby.
The property is currently operated as an Airbnb. McLennan Community College, local shopping, and dining are nearby.
Key Highlights
- Currently operating as an Airbnb
- 1,178‑square‑foot home with 3 bedrooms and 2 bathrooms
- Detached garage offers storage or workspace
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,389
Cap Rate
4.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,780
$187.8K
Cap Rate 7%
$134,129
$134.1K
Cap Rate 9%
$104,322
$104.3K
Market Conditions
NOI Build-Up for 1,178 SF
Gross rent
$18.8K $15.96/SF
− Vacancy
−$1.7K −$1.47/SF
EGI
$17.1K $14.49/SF
− OpEx
−$7.7K −$6.52/SF
NOI
$9.4K $7.97/SF
Area
Waco, TX
Vacancy
9.20%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$187,780
Cap Rate 7%
$134,129
Cap Rate 9%
$104,322
Alternative Uses
Best Use
Apartment 5plus
$134.1K
$117.4K – $156.5K
NOI $9,389 @ 7.0% cap · market cap 4.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$310.8K
$271.9K – $362.6K
NOI $21,755 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
216
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Currently operated as an Airbnb, the updated home includes an open living area and a kitchen island with seating.
Where is this short term rental property located?
The property is located at 3508 N 23rd St Waco, TX.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Currently operating as an Airbnb; 1,178‑square‑foot home with 3 bedrooms and 2 bathrooms; Detached garage offers storage or workspace
