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    487 Number Ten Downing Street China Spring, TX 76633

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    For Sale
    $1,399,900

    Traditional,Other, Farm/Ranch - China Spring, TX

    Type:Farm
    Property size:
    3,778 SF
    Lot size:
    53.52 Acres
    Price / SF:
    $370/SF
    Added:
    May 4, 2026
    Days on Market:
    2
    Last Refresh:
    May 5 at 12:06 pm

    Property Features for 487 Number Ten Downing Street

    General Information

    Property type
    Residential
    Property subtype
    Farm
    Bedrooms
    2
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2
    Parking features
    Carport, Garage
    Patio and Porch features
    Patio, Porch
    Interior features
    Decorative Lighting, Eat-in Kitchen, Kitchen Island, Natural Woodwork, Open Floorplan, Pantry, Walk-in Closet(s)
    Exterior features
    Covered Patio/Porch, Dog Run, Fence
    Fencing
    Fenced
    Fireplace
    1
    Appliances
    Dishwasher, Range, Washer
    Standard status
    Active
    APN
    180617000030003
    Size
    3,778 SF
    Lot size
    53.52 Acres

    Utilities

    Heating system
    Central, Fireplace(s), Propane (Heating)
    Cooling system
    Central Air

    Building Details

    Year built
    1950
    Floors in Building
    1
    Flooring type
    Carpet, Vinyl, Wood
    Building materials
    Frame
    Roof type
    Metal
    Architectural style
    New Traditional
    Additional Structures
    Kennel/Dog Run

    We can help!

    Listing Contact
    Trish Griffin
    Trish Griffin

    Listing agent Trish Griffin License #0482596

    Listing office Kelly, Realtors 1229 N. Valley Mills Dr., Waco, TX

    Listing date May 4, 2026

    MLS# 21259345 Listing URL

    Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    China Spring 53-Acre Retreat

    Located in China Spring ISD, this 53.52-acre property offers countryside living near Waco. The property, accessed off Number Ten Downing Street, features mature oak trees and bluff views. The main home, originally a church moved to the property in the mid-20th century, was renovated in 2014. The renovation retained the building's original character while adding modern features. The home includes an open-concept kitchen, dining, and living area with luxury vinyl plank flooring and picture windows. The kitchen features an oversized onyx island, butcher block counters, a custom bronze backsplash, and a limestone hood. The primary suite includes wood-beamed ceilings, a wood-burning fireplace, and an ensuite bathroom with a jetted tub, walk-in tile shower, and walk-in closet. The original sanctuary, connected to the living room, can serve as a game room or studio. Outdoor features include an attached shop, multiple carports (one tall enough for an RV or boat), and a small cabin. The property is located in China Spring, Texas, postal code 76633, within McLennan County. The property size is 3778 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Wedding venues

    Suggested Use

    Building Supply HVAC Service Grocery & Convenience Store Cosmetic Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    China Spring
    County
    McLennan
    State
    Texas
    Longitude
    -97.297581
    Latitude
    31.618275

    FAQs

    What type of property is this?
    Farm - 53-acre property with renovated church-turned-home near Waco.
    Where is this farm located?
    The property is located at 487 Number Ten Downing Street China Spring, TX.
    What is the asking price?
    The asking price for this property is $1,399,900.
    What are key features of this property?
    This property features: 53.52‑acre property in China Spring ISD, offering countryside living near Waco.; Unique, renovated former church home with preserved character and modern luxury.; Chef's kitchen with **oversized onyx island** and butcher block counters.
    (254) 741-1500
    We can help!
    Listing Contact
    Trish Griffin
    Trish Griffin
    Real Estate License ID: 0482596
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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