Furnished Short-Term Rental
For Sale
$275,000
929 N 12th St, Waco, TX 76707
Remodeled furnished residence with en-suite bedrooms, a detached garage, and a flexible layout for rental use.
Property Size1,462 SF
Price / SF$188.10
Days on Market50
Property Features for 929 N 12th St
General Information
Standard status
Active
Size
1,462 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
1
Building Details
Year Built
1915
Buildings
1
Listing Agency:
Axio Real Estate LLC
Listed By:
Jody Scoggins · License #561614
(254) 776-8100
Source:
Northtexashomeguide
Added: Aug 5
Changed: Sep 22
Last Checked: Sep 22 at 5:16PM
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
Investment Insights
Based on property information with market context.
This 1,462-square-foot furnished residence was built in 1915 and offers three bedrooms and three bathrooms. The remodeled interior includes a custom-cabinet kitchen with stainless steel appliances, a gas range, farmhouse sink, and pot filler. Two bedrooms have private en-suite baths, while the primary suite adds dual vanities, a walk-in shower, freestanding tub, and walk-in closet. A large backyard, deck, and detached garage provide additional exterior and storage space.
The property is located at 929 N 12th St in Waco, near Baylor University, downtown Waco, Magnolia, shopping, dining, and major attractions. It is currently operating as an income-producing Airbnb and can accommodate short-term, mid-term, or long-term rental use.
The property is located at 929 N 12th St in Waco, near Baylor University, downtown Waco, Magnolia, shopping, dining, and major attractions. It is currently operating as an income-producing Airbnb and can accommodate short-term, mid-term, or long-term rental use.
Key Highlights
- 1,462 SF furnished residence with 3 bedrooms and 3 bathrooms
- Remodeled kitchen with custom cabinetry, stainless steel appliances, gas range, farmhouse sink, and pot filler
- Two bedrooms include private en‑suite bathrooms
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
$11,653
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
4.24%
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%
$233,060
$233.1K
Cap Rate 7%
$166,471
$166.5K
Cap Rate 9%
$129,478
$129.5K
Market Conditions
NOI Build-Up for 1,462 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
$23.3K $15.96/SF
− Vacancy
−$2.1K −$1.47/SF
EGI
$21.2K $14.49/SF
− OpEx
−$9.5K −$6.52/SF
NOI
$11.7K $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 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%
$233,060
Cap Rate 7%
$166,471
Cap Rate 9%
$129,478
Alternative Uses
Best Use
Apartment 5plus
$166.5K
$145.7K – $194.2K
NOI $11,653 @ 7.0% cap · market cap 4.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$385.7K
$337.5K – $450.0K
NOI $27,000 @ 7.0% cap · market cap 9.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Remodeled furnished residence with en-suite bedrooms, a detached garage, and a flexible layout for rental use.
Where is this short term rental property located?
The property is located at 929 N 12th St Waco, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,462 SF furnished residence with 3 bedrooms and 3 bathrooms; Remodeled kitchen with custom cabinetry, stainless steel appliances, gas range, farmhouse sink, and pot filler; Two bedrooms include private en‑suite bathrooms
