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    1902 Alexander Ave Waco, TX 76708
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    Property profile & analytics

    1902 Alexander Ave Waco, TX 76708

    View on Map
    • Residential income homes
    • 2,612 SF
    • 0.19 lot acres
    Off-Market
    Property ID
    US83-4192801
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 1902 Alexander Ave

    Year built
    1905
    Lot size
    0.19 lot acres
    Property size
    2,612 SF
    Property type
    Residential income homes

    Description

    This stunning, vacant mixed-use property, located at 1902 Alexander Ave, Waco, TX 76708, presents a unique investment opportunity. The 2,612 square foot home, built in 1905 and extensively renovated in 2015, sits on a 0.19-acre lot and boasts four bedrooms and two bathrooms. Its prime location offers easy access to Waco's popular attractions, including proximity to the Silos and Cameron Park. The property's permitted zoning is residential. The interior features a blend of classic charm and modern amenities, making it ideal for a large family or as a lucrative short-term rental. The master bedroom includes a luxurious bathroom with a walk-in shower and soaking tub. Additional bedrooms offer comfortable space. The living room includes a memory foam pull-out couch, perfect for guests. The asking price is $499,000. This turnkey property is move-in ready and presents a competitive price point in a highly desirable market. This is a rare opportunity to acquire a piece of Waco history with significant potential for return on investment.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Waco
    County
    McLennan
    State
    Texas
    Longitude
    -97.1647367
    Latitude
    31.5689295

    Comparable in this City

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      Residential Land in Quiet Waco Neighborhood

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      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
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      Land with Great Access

      2.49 acres of land with excellent access and visibility.
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      Commercial Land in Growing Area

      Flexible commercial land opportunity in a growing residential area.
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      Waco Commercial Development Land

      7.809 acres in Waco, perfect for commercial development.
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      Acreage on China Spring Hwy

      1.01 acres with great access and visibility.
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    Similar Nearby for Sale

    • $39,000
      0.34 Acres

      Residential Land in Quiet Waco Neighborhood

      Tree-filled lot ready for building near MCC, Lake Waco.
      2906 Maple Hill Cir, Waco, TX 76708
      View Details
    • $325,000
      0.38 Acres

      Waco Corner Lot Opportunity

      Highly visible corner lot near Downtown Waco, previously a daycare.
      2000 N 25Th St, Waco, TX 76708
      View Details
    • Contact for pricing

      Land with Great Access

      2.49 acres of land with excellent access and visibility.
      2.49 Acres Steinbeck Bnd, Waco, TX 76708
      View Details
    • Contact for pricing

      Commercial Land in Growing Area

      Flexible commercial land opportunity in a growing residential area.
      China Spg Rd @ Saddle Crk Rd, Waco, TX 76708
      View Details
    • Contact for pricing

      Waco Commercial Development Land

      7.809 acres in Waco, perfect for commercial development.
      China Spring Rd, Waco, TX 76708
      View Details
    • $264,000

      Acreage on China Spring Hwy

      1.01 acres with great access and visibility.
      1.01 On Acres China Spg Hwy, Waco, TX 76708
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
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      Waco Flex Space with Yard

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      Retail/Restaurant Space Near H-E-B

      Inline retail and restaurant spaces in high-growth area.
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    Waco, TX 76708
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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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