3113 Sherco Rd · Waco, TX 76655

$305,000

3 bd · 2.0 ba · 1,862 sqft · SingleFamily public records · 91 Days on market

Built 2023 6,578 sqft lot $22/mo HOA · 1% of rent ↓ 3% since listing

---

Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Adorable, Move-In Ready Home located in the wonderful Park Meadows community in Midway ISD! Designed with functionality and comfort in mind, this 4 bedroom, 2 bath home features an open concept layout, gorgeous vinyl plank floors, a neutral color palette, and lots of natural light. The heart-of-the-home Kitchen is perfect for gathering around with friends and family and features granite countertops, stainless steel appliances, a spacious island with seating, ample counter and cabinet space, and a walk-in pantry. The isolated Primary Suite offers a relaxing retreat with a large shower, granite counters with dual sinks, and a large walk-in closet. Kick back and unwind under the covered patio

Key facts

• Covered patio
• Granite countertops
• Neighborhood park

Tags

• OPEN CONCEPT LAYOUT
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN PANTRY
• COVERED PATIO
• NEIGHBORHOOD PARK

Property features AI

Finance

• Other: Listing accepts Cash, Conventional, FHA, and VA financing
• HOA & community: Mandatory association; Annual association fee of $260 covering grounds maintenance and management fees; HOA managed by BHHS Caliber Realty; Community features: playground, sidewalks

Exterior

• Parking: Attached 2-car garage; Driveway; Garage door opener; 2 covered parking spaces
• Utilities: City water; City sewer; Electricity connected; Cable available; Not in a municipal utility district
• Home design: Single family residence; One story; Residential; Preowned (built 2023)
• Construction: Composition roof; Slab foundation; Built in 2023
• Exterior features: Covered rear porch; Covered porches; Fenced backyard with privacy wood fencing; Landscaped yard; Sprinkler system; Interior lot

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Electric hot water heater
• Bedrooms: 4 bedrooms total; Primary bedroom with dual sinks, ensuite bath, linen closet, separate shower, and walk-in closet (on main level)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Attic fan; Ceiling fans
• Interior features: Open floorplan; Granite counters; Kitchen island; Pantry; Cable TV available; Window coverings
• Laundry & utility: Utility room; Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (15.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (18.3% below list).
• Recommended offer: $249k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.9% in Waco — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#166 in TX, #4,378 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D, commute F, employment D-.
• Midway ISD (other): math 61% / reading 58% proficiency, ranked #56 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Park Hill El (611 students, 43% FRL); Midway Middle (math 58% / reading 58%, grade B, #197 of 1,662 statewide, top 12%, 1,075 students, 47% FRL); Midway H S (math 66% / reading 67%, grade B, #186 of 1,632 statewide, top 11%, 2,648 students, 32% FRL).
• Market conditions: 269 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($278k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 76% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,264 (18.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 5.27%
• Cash-on-cash: -3.64%
• DSCR: 0.84
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.4%
• Equity multiple: 0.23×
• Total profit: $-65,824
• Equity at exit: $45,476

10-year hold

• IRR: -16.4%
• Equity multiple: 0.09×
• Total profit: $-78,126
• Equity at exit: $26,371

Cash invested: $85,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 76655

• Home prices YoY: -31.3%
• Active inventory: 269
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,493 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$480 /mo · $5,759/yr
• Insurance: −$127
• HOA: −$22
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $-259

Break-even live

Break-even rent $2,821

Max offer price $259,201

Occupancy floor —

Sensitivity live

Price	-10% $-87	-5% $-173	+0% $-259	+5% $-346	+10% $-432
Rent	-10% $-456	-5% $-358	+0% $-259	+5% $-161	+10% $-62
Rate	-1.0pp $-106	-0.5pp $-182	base $-259	+0.5pp $-338	+1.0pp $-419

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3117 Sherco Rd Lorena, TX	3.0	2.0	1469	$2,000	$1.36	45d	1	0.04mi
3128 Brosnan Rd Lorena, TX	3.0	2.0	1717	$2,350	$1.37	45d	1	0.11mi
3225 Marston Rd Lorena, TX	4.0	2.0	1850	$2,800	$1.51	45d	1	0.22mi
2809 Keathley Dr Lorena, TX	3.0	2.0	1565	$2,100	$1.34	45d	1	0.35mi
2813 Gilchrist Dr Lorena, TX	3.0	2.0	1529	$2,200	$1.44	45d	1	0.45mi
3217 Jackal Dr Lorena, TX	4.0	2.0	1840	$2,400	$1.30	23d	1	0.56mi
2701 Skinner Dr Lorena, TX	3.0	2.0	1573	$2,400	$1.53	45d	1	0.59mi
10312 Sierra West Dr Waco, TX	3.0	2.0	1560	$2,300	$1.47	23d	1	1.02mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 2 events

1. 2026-05-31
   remarks 699-char remark
2. 2026-05-31
   listed $305,000 Pending 91 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $5,759 · $480/mo
• Projected year-2 tax: $5,759 · $480/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,912
• − Mortgage interest: −$17,085
• − Property taxes: −$5,759
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,393
• − Management: −$2,393
• − HOA: −$264
• − Depreciation: −$8,873
• Taxable loss: −$8,380
• Est. tax savings @ 24.0%: +$2,011
• After-tax cash flow: $-1,100/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Midway ISD
• NCES district ID: 4830640
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $67,076
• Composite: 52.32/100
• National rank: #1593
• State rank: #56 of 826 in TX

Livability — Waco

• Score: 74/100
• State rank: #166
• US rank: #4378

Category grades

Amenities C Commute F Cost of living A+ Crime D Employment D- Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waco, TX
• County: McLennan County · 213,088 people
• City population: 125,319
• Metro: Waco, TX
• Population (ZIP): 10,603
• Household income: $99,917
• Rent vs Own: 14.9% rent · 85.1% own
• Severe rent burden: 62.0

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 2%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.10%
• Current HPI: 230.4333
• Rent YoY: —
• Metro: Waco, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

-3.2% since first listed

4 events — show timeline

• 2026-05-08 Pending — NTREIS
• 2026-05-01 Contingent — NTREIS
• 2026-03-27 Price Changed $305,000 NTREIS
• 2026-02-05 Listed $315,000 NTREIS

Property tax history

+189.1%/yr

Latest (2025): $5,759 · -12.0% YoY. Source: county tax records.