Renovated Duplex with Conversion
3830 Colina Lane Waco, TX 76705
New
3830 Colina Lane, Waco, TX, 76705
$329,000
For Sale
$329,000
Renovated duplex on a corner lot in La Vega ISD, with flexible layout that can convert to a single-family home.
Property Size1,732 SF
Lot Size0.50 Acres
Price / SF$189.95
Days on Market3
Property Features for 3830 Colina Lane
General Information
- Standard status
- Active
- Size
- 1,732 SF
- Lot size
- 0.50 Acres
- Property subtype
- Duplex
Building Details
- Year Built
- 1955
Listing agency
Arise Capital Real Estate
(682) 558-0005
Listed by
Rene Jensen · License #0720823
(214) 532-6823
Source
Lonestarluxuryrealty
Added: Jul 20 Updated: Jul 22 at 2:29AM Checked: Jul 22 at 2:29AM
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 Arise Capital Real Estate
Investment Insights
Based on property information with market context.
This beautifully renovated residence is currently configured as a duplex, offering move-in-ready living space with modern updates throughout. The interior features a refreshed, contemporary design with gold accents, crisp white finishes, and bold black fixtures. The home also provides flexibility: it can be converted back into a spacious single-family layout with four bedrooms and three bathrooms using a simple wall modification.
Set on a generous half-acre corner lot in La Vega ISD, the property includes an expansive, shaded backyard supported by mature trees. The outdoor space can support a range of day-to-day uses, from family gatherings to gardening and relaxing outdoors.
Conveniently located with quick access to shopping, dining, and schools, this property is well-suited for buyers and investors seeking a residence that supports either two-unit income or a larger single-family configuration.
Set on a generous half-acre corner lot in La Vega ISD, the property includes an expansive, shaded backyard supported by mature trees. The outdoor space can support a range of day-to-day uses, from family gatherings to gardening and relaxing outdoors.
Conveniently located with quick access to shopping, dining, and schools, this property is well-suited for buyers and investors seeking a residence that supports either two-unit income or a larger single-family configuration.
Key Highlights
- Renovated home built in 1955 offering over 1,700 SF of remodeled living space
- Currently configured as a duplex, with the option to convert back to a 4‑bedroom, 3‑bath single‑family home
- Half‑acre corner lot with a spacious, shaded backyard with mature trees
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 | $23.5k | $13.56 |
| − Vacancy | −$2.1k | −$1.19 |
| EGI | $21.4k | $12.37 |
| − OpEx | −$6.4k | −$3.71 |
| NOI | $15.0k | $8.66 |
1,732 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$214.3K
$187.5K – $250.1K
NOI $15,003 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$197.2K
$172.6K – $230.1K
NOI $13,805 @ 7.0% cap · market cap 4.20%
Theoretical Best
Office A
$457.0K
$399.8K – $533.1K
NOI $31,987 @ 7.0% cap · market cap 9.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Renovated duplex on a corner lot in La Vega ISD, with flexible layout that can convert to a single-family home.
Where is this duplex located?
The property is located at 3830 Colina Lane Waco, TX.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Renovated home built in 1955 offering over 1,700 SF of remodeled living space; Currently configured as a duplex, with the option to convert back to a 4‑bedroom, 3‑bath single‑family home; Half‑acre corner lot with a spacious, shaded backyard with mature trees
