Leased Duplex Income
3717 Parkwood Street Waco, TX 76710
3717 Parkwood Street, Waco, TX, 76710
$229,000
For Sale
$229,000
Fully leased duplex with both units occupied, providing immediate income for an owner-operator or investor.
Property Size1,768 SF
Price / SF$129.52
Days on Market56
Property Features for 3717 Parkwood Street
General Information
- Standard status
- Active
- Size
- 1,768 SF
- Property subtype
- Multi-Family / Full Duplex
Building Details
- Year Built
- 1951
Listing Agency
Magnolia Realty
(254) 218-0507
Listed by
Lauren Blake · License #0750876
(254) 218-0507
Source
Compass
Added: May 23 Checked: Jul 17 at 5:09 am
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 Magnolia Realty
Investment Insights
Based on property information with market context.
This duplex investment property is fully leased, with both units currently occupied. The buildings are described as well-maintained and offer a classic duplex setup suitable for residential income ownership.
The property is located in Waco, with public remarks noting convenience to shopping, dining, schools, and the broader amenities of central Waco. The listing also emphasizes that the location supports occupied tenancy at the time of sale, with stable occupancy provided by both tenants.
For buyers seeking residential income, this asset provides an opportunity to purchase a duplex where occupancy is already in place. With both units occupied at the time of sale, it may appeal to investors looking for a straightforward path to holding income without first needing to lease vacant space. The property is offered for sale at an indicated list price.
The property is located in Waco, with public remarks noting convenience to shopping, dining, schools, and the broader amenities of central Waco. The listing also emphasizes that the location supports occupied tenancy at the time of sale, with stable occupancy provided by both tenants.
For buyers seeking residential income, this asset provides an opportunity to purchase a duplex where occupancy is already in place. With both units occupied at the time of sale, it may appeal to investors looking for a straightforward path to holding income without first needing to lease vacant space. The property is offered for sale at an indicated list price.
Key Highlights
- Fully leased 2‑unit duplex with both units currently occupied
- Brick duplex built in 1951 with one‑story layout (1 level)
- Composition roof and pillar/post/pier foundation
Local 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 | $24.0k | $13.56 |
| − Vacancy | −$2.1k | −$1.19 |
| EGI | $21.9k | $12.37 |
| − OpEx | −$6.6k | −$3.71 |
| NOI | $15.3k | $8.66 |
1,768 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$218.8K
$191.4K – $255.3K
NOI $15,315 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$201.3K
$176.2K – $234.9K
NOI $14,092 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$466.4K
$408.1K – $544.2K
NOI $32,651 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully leased duplex with both units occupied, providing immediate income for an owner-operator or investor.
Where is this duplex located?
The property is located at 3717 Parkwood Street Waco, TX.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Fully leased 2‑unit duplex with both units currently occupied; Brick duplex built in 1951 with one‑story layout (1 level); Composition roof and pillar/post/pier foundation
