New-Construction
For Sale
$385,000
909 N 14th St Unit A & B, Waco, TX 76707
Two separately metered residences provide three-bedroom layouts with contemporary finishes and private upper-level sleeping areas.
Property Size2,710 SF
Price / SF$142.07
Days on Market20
Property Features for 909 N 14th St Unit A & B
General Information
Standard status
Active
Size
2,710 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Anchor Realty
(254) 338-9671
Listed By:
Bailey Eickenloff · License #0790970
Source:
Findtexashomesforsale
Added: Aug 13
Changed: Aug 30
Last Checked: Aug 31 at 5:48PM
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 Anchor Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains 2,710 square feet across two residences, with each side offering three bedrooms and two-and-a-half bathrooms. The interiors use an open arrangement for the living, kitchen, and dining areas, while the bedrooms are positioned upstairs. New construction includes the foundation, roof, HVAC, electrical, plumbing, and LVP flooring, along with updated interior finishes.
Each residence is separately metered, supporting independent utility billing. The property is located at 909 N 14th St in Waco, near Baylor University, downtown Waco, and I-35. Both units are included in the offering, creating a two-residence configuration with matching layouts and systems.
Each residence is separately metered, supporting independent utility billing. The property is located at 909 N 14th St in Waco, near Baylor University, downtown Waco, and I-35. Both units are included in the offering, creating a two-residence configuration with matching layouts and systems.
Key Highlights
- 2026 construction with 2,710 square feet
- Two units, each with 3 bedrooms and 2.5 bathrooms
- Separate electric metering for each side
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
$23,475
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
6.10%
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%
$469,500
$469.5K
Cap Rate 7%
$335,357
$335.4K
Cap Rate 9%
$260,833
$260.8K
Market Conditions
NOI Build-Up for 2,710 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
$36.7K $13.56/SF
− Vacancy
−$3.2K −$1.19/SF
EGI
$33.5K $12.37/SF
− OpEx
−$10.1K −$3.71/SF
NOI
$23.5K $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%
$469,500
Cap Rate 7%
$335,357
Cap Rate 9%
$260,833
Alternative Uses
Best Use
Multifamily LT 5
$335.4K
$293.4K – $391.3K
NOI $23,475 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$308.6K
$270.0K – $360.0K
NOI $21,600 @ 7.0% cap · market cap 5.61%
Theoretical Best
Office A
$715.0K
$625.6K – $834.1K
NOI $50,048 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,195
Businesses Nearby
Explore this area
Business Placement
Demographics for 76707, TX
16,227
Population
6,678
Households
2.4
Avg Household Size
31
Median Age
15%
College-Educated
76%
High-School Grad
3.3 sq mi
ZIP Area
4,917
Density / Sq Mi
$38,208
Median Household Income
$27,124
Median Earnings
$1,055
Median Rent
$113,600
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 separately metered residences provide three-bedroom layouts with contemporary finishes and private upper-level sleeping areas.
Where is this duplex located?
The property is located at 909 N 14th St Unit A & B Waco, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: 2026 construction with 2,710 square feet; Two units, each with 3 bedrooms and 2.5 bathrooms; Separate electric metering for each side
