Don't miss this turnkey duplex in the heart of Dean Highland – Fully Occupied & Cash-Flowing. Located in one of Waco’s most desirable neighborhoods, this well crafted multifamily home in Dean Highland offers a rare opportunity to own a fully leased, income-producing property just minutes from downtown, Lake Waco, and all of the essentials. Each unit features 2 bedrooms and 1 bathroom, showcasing timeless charm with modern functionality. This investment is ideal for both seasoned investors and newcomers looking for reliable cash flow in a prime location. With strong rental history and close proximity to everything Waco has to offer, this property is ready for its next owner to step in and start earning from day one.
Multi-familyProperty Type
1978Year Built
6,499 sq ftLot Size
$145Est. Price/Sq.Ft.
4 spacesParking
Listed by Trevor Caswell• Keller Williams Realty, Waco
Unique Investment Opportunity in the Heart of Waco! Each unit is 2 bedrooms, 1 bathroom and features a nice layout with open living/dining space, galley kitchen and parking for 1. This property has plenty of potential for rent growth and updates! Currently 100% occupied and tenants have been there for 4+ years. Properties each have their own electric meter but one water meter for property so water is included as part of rent. Virtual Walk Through per unit - https://my.matterport.com/show/?m=6waPitwotKa | https://my.matterport.com/show/?m=SNJGTvHgxAc&mls=1 Public/Agent showing opportunity - Wednesday Aug 7th, 12pm-2pm.
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
50 ft.
Lot depth
130 ft.
Lot size
—
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (2-4 Unit)
County
McLennan County
APN
186619
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 30, 2024.
R-2
Two-Family and Attached Single Family Residence District
The R-2 two-family and attached single-family residence district is intended to provide for development of attached dwelling types at moderate densities where it may serve as a transitional use between single-family residential areas and more intensive uses; or in locations with convenient access to the major street system and proximity to community services.
Permitted uses
Include but are not limited to:
Agriculture
Religious facility
Housing-Single unit
Housing-Multiple units
Housing-Student
Bed & breakfast
Educational/school
Library
Golf related
Park & open space
Property details
Parking
Parking Information
Carport Spaces: 0
Covered Spaces: 0
Number Of Parking Spaces: 4
Parking Features: Common, Driveway, On Site
Parking & Garage
Garage Spaces: 0
Interior
Virtual Tour
Bathroom Information
Bathrooms Full: 2
Bathrooms Total Decimal: 2
Bathrooms Total Integer: 2
Bedroom Information
Bedrooms Total: 4
Fireplace Information
Fireplaces Total: 0
Heating & Cooling
Cooling: Central Air
Heating: Central
Interior Features
Appliances: Electric Cooktop, Electric Oven
Levels: One
Flooring: Tile
Interior Features: Walk-In Closet(s)
Multi-Unit Information
Number Of Buildings: 1
Number Of Units Total: 2
Unit Count: 1
Occupancy Rate: 100
Gross Annual Income: 30000.00
Gross Annual Expenses: 12000.00
Insurance Expense: 2000
Net Operation Income: 18000
Exterior
Building Information
Roof: Composition
Construction Materials: Board & Batten Siding
Foundation Details: Slab
Exterior Features
Fencing: Back Yard, Fenced, Wood
Farm Information
Horse Permitted YN: No
Lot Information
Lot Size: Less Than .5 Acre (not Zero)
Lot Size Acres: 0.1492
Lot Size Area: 0.1492
Lot Size Square Feet: 6499.1520
Lot Size Units: Acres
Parcel Number: 186619
RATIO List Price By Lot Size Acr: 1675603.21716
Will Subdivide: No
Property Information
Property Type: Residential Income
Property Sub Type: Duplex
Accessibility Features YN: No
Security Features: Smoke Detector(s)
Multi Parcel IDYN: No
Property Key: 48309|480341000160008|1|57557626
Property Match: APN
US Property MUI: 408876986
Building Information
Building Area Total: 1632.00
Building Area Source: Public Records
Year Built: 1978
Year Built Details: Preowned
Smart Home Features Appor Pass Y: No
Financial
Tax Information
Special Taxing Entities: No
Tax Block: 9
Tax Lot: 16
Unexempt Taxes: 3042
Lease Information
Tenancy: 9 Months or Less
Financial Information
Buyer Financing: Conventional
Capitalization Rate: 7.20
Loan Type: Treat As Clear
Second Mortgage YN: No
Utilities
Utility Information
Municipal Utility District YN: No
Utilities: City Sewer, City Water
Location
HOA Information
Association Type: None
School Information
Elementary School: Dean Highland
Elementary School Name: Dean Highland
High School Name: Waco
Middle School Name: GW Carver
School District: Waco ISD
Location Information
County Or Parish: McLennan
Country: United States
Directions: Heading NW on New Road. Take a right onto Colcord Avenue. The home will be on your left.
Latitude: 31.54595393
Longitude: -97.17612182
Geocode Confidence: High
Complex Name: n/a
Subdivision Name: QUEEN CREST
Public facts
Beds: —
Baths: —
Sq. Ft.: —
Stories: —
Lot Size: —
Style: Multi-Family (2-4 Unit)
Year Built: —
Year Renovated: —
County: McLennan County
APN: 186619
Home facts updated by county records on Jul 30, 2024
Other
Green Verification Information
Green Verification Count: 0
Listing Information
List Source Original: Matrix
Listing Agreement: Exclusive Right To Sell
Listing Id: 21004153
Listing Key Numeric: 459425852
Listing Terms: Cash, Conventional
Mls Status: Closed
Previous Status: Pending
Originating System Name: North Texas Real Estate Information Systems
Photos Count: 14
Possession: Closing/Funding, Subject to Lease
Seller Contributions: 0
Special Listing Conditions: Standard
Standard Status: Closed
Third Party Assistance Program Y: No
Listing Date Information
Days On Market: 6
Cumulative Days On Market: 6
Close Date: 2025-10-06
Purchase Contract Date: 2025-07-30
Expiration Date Option: 2025-08-06
Listing Contract Date: 2025-07-24
Off Market Date: 2025-07-30
Status Change Timestamp: 2025-10-07T14:18:50.343
Listing Price Information
Original List Price: 250000.00
List Price: 250000.00
RATIO Close Price By Lot Size Ac: 1508042.89544
RATIO Current Price By Lot Size: 1508042.89544
Around this home
Schools
Dean Highland Elementary School
Public PreK-5 • Assigned • 0.4mi
1/10
G W Carver Middle
Public 6-8 • Assigned • 3.6mi
1/10
Waco High School
Public 9-12 • Assigned • 0.6mi
3/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
7/10 Heat Factor
7 days above 109° expected this year, 24 days in 30 years
6/10 Wind Factor
59% chance of strong winds in next 30 years
2/10 Air Factor
0 unhealthy days expected this year, 1 days in 30 years
Provided by First Street
Historical weather
Waco, TX • 76707
Average low and high temperatures (°F)
57
37
68
45
79
56
80
62
84
65
91
75
92
74
95
75
91
69
88
62
75
53
66
46
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 9.7 hours in
June and 5.2 hours in December, which is comparable to the
U.S. average for solar exposure.
9.7 hrs
5.2 hrs
JuneDecember
Provided by Shadowmap
Estimated sale price
$226,000 – $273,000
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