610 N Joyce St · Lacy-Lakeview, TX 76705

$179,800

3 bd · 2.0 ba · 1,530 sqft · SingleFamily public records · 140 Days on market

Built 1959 9,583 sqft lot $118/sqft · at area comps Est $184k · at est. ↓ 10% 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 +13.7/30.0
• ARV discount +8.6/15.0
• 1% rule +4.4/10.0
• DSCR +4.1/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

Key facts

• Corner lot
• 9,583 sq ft lot
• 2 garage spots

Tags

• CORNER LOT
• MAJOR PLUMBING UPDATES
• QUIET WELCOMING NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $14 ($168/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (6.3% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 5.1% in Lacy-Lakeview — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Connally ISD (suburban): math 16% / reading 25% proficiency, ranked #781 of 826 in TX (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 297 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 35% of the median local income ($58k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 140 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,224 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 8.9

CMA / ARV

• ARV (median comp): $184,137
• List price: $179,800
• Delta: -2.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Brenda St	0.16mi	3/2.0	1,496 (-2%)	1mo	$235,000	$157	88
709 N Rita St	0.07mi	3/1.0	1,386 (-9%)	0mo	$199,900	$144	77
611 N Rita St	0.04mi	4/2.0 (+1)	1,332 (-13%)	0mo	$231,000	$173	72
200 S Patricia St	0.40mi	3/2.0	1,563 (+2%)	8mo	$99,000	$63	71
103 Spring Lake Dr	0.42mi	3/2.0	1,605 (+5%)	4mo	$324,999	$202	69
409 Conway St	0.64mi	3/2.0	1,486 (-3%)	1mo	$309,900	$209	65
410 Conway St	0.64mi	3/2.0	1,486 (-3%)	1mo	$306,900	$207	64
411 Conway St	0.64mi	3/2.0	1,443 (-6%)	1mo	$306,900	$213	60
309 S Rita St	0.40mi	3/1.0	1,300 (-15%)	1mo	$182,500	$140	52
408 Conway St	0.68mi	3/2.0	1,431 (-6%)	8mo	$299,900	$210	51
407 Conway St	0.68mi	3/2.0	1,431 (-6%)	9mo	$299,900	$210	50
322 N Lakeview Dr	0.68mi	3/3.0	1,720 (+12%)	4mo	$136,900	$80	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.2% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-29,517
• Equity at exit: $26,809

10-year hold

• IRR: -10.0%
• Equity multiple: 0.41×
• Total profit: $-29,696
• Equity at exit: $15,546

Cash invested: $50,344 (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 76705

• Home prices YoY: -29.6%
• Rents YoY: 2.2%
• Active inventory: 297
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,684 high
• Mortgage (P&I): −$943
• Tax from tax record: −$298 /mo · $3,581/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $14

Break-even live

Break-even rent $1,666

Max offer price $179,800

Occupancy floor 94%

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: $44,950
• Closing costs: $5,394
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 S Rita St Waco, TX	3.0	2.0	1692	$1,575	$0.93	13d	1	0.30mi
326 S Barbara St Waco, TX	3.0	2.0	1722	$2,300	$1.34	13d	1	0.54mi
305 Shirley Dr Lacy Lakeview, TX	3.0	2.0	1100	$1,525	$1.39	13d	1	0.61mi
129 N Lakeview Dr Waco, TX	3.0	2.0	1207	$3,750	$3.11	43d	1	0.87mi
229 E Craven Ave Waco, TX	3.0	2.0	1052	$1,325	$1.26	43d	1	1.19mi
225 E Craven Ave Waco, TX	3.0	2.0	1052	$1,400	$1.33	43d	1	1.20mi
218 Avenue F Waco, TX	3.0	2.0	1332	$1,600	$1.20	43d	1	1.28mi
4509 Rocking K Dr Waco, TX	3.0	2.0	1298	$1,699	$1.31	13d	1	1.38mi
109 E Frost St Waco, TX	3.0	2.0	1338	$2,200	$1.64	13d	1	1.39mi

Listing history 23 events

1. 2026-06-18
   days on market $179,800 Active 140 DOM
2. 2026-06-17
   days on market $179,800 Active 139 DOM
3. 2026-06-16
   days on market $179,800 Active 138 DOM
4. 2026-06-15
   days on market $179,800 Active 137 DOM
5. 2026-06-14
   days on market $179,800 Active 135 DOM
6. 2026-06-13
   days on market $179,800 Active 134 DOM
7. 2026-06-10
   days on market $179,800 Active 132 DOM
8. 2026-06-09
   days on market $179,800 Active 131 DOM
9. 2026-06-08
   days on market $179,800 Active 130 DOM
10. 2026-06-07
    days on market $179,800 Active 129 DOM
11. 2026-06-05
    days on market $179,800 Active 126 DOM
12. 2026-06-02
    days on market $179,800 Active 124 DOM
13. 2026-06-01
    days on market $179,800 Active 123 DOM
14. 2026-05-31
    days on market $179,800 Active 122 DOM
15. 2026-05-30
    days on market $179,800 Active 121 DOM
16. 2026-04-22
    price $179,900 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

17. 2026-03-27
    price $181,900 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

18. 2026-03-26
    price $178,900 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

19. 2026-03-17
    price $181,900 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

20. 2026-02-16
    price $188,900 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

21. 2026-01-29
    listed $198,900 Active 944-char remark

    Show marketing remark (944 chars)

    Strong Value Opportunity – Priced Below Surrounding Updated Homes. Clean and ready for immediate occupancy, this home offers a compelling opportunity to purchase below market value with the flexibility to make updates over time. The bedrooms have just been freshly painted, adding a clean and refreshed feel. All major systems are functioning, making the home livable as-is and suitable for a variety of financing options. The property does require some cosmetic updates, which is reflected in the price and presents a clear path for adding value. - Vacant and easy to show with immediate access - Positioned as a strong value compared to nearby updated properties - Being sold AS-IS - Seller concessions are available Agents — bring your buyers looking for affordability, flexibility, and upside potential. This property is positioned as a well-priced opportunity relative to surrounding updated homes. Schedule your showing today.

22. 2026-01-15
    soldstatus
23. 2026-01-15
    soldstatus

ⓘ 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: $3,581 · $298/mo
• Projected year-2 tax: $3,581 · $298/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 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% 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: $20,206
• − Mortgage interest: −$10,072
• − Property taxes: −$3,581
• − Insurance: −$899
• − Repairs & maintenance: −$1,616
• − Management: −$1,616
• − Depreciation: −$5,231
• Taxable loss: −$2,809
• Est. tax savings @ 24.0%: +$674
• After-tax cash flow: $842/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: Connally ISD
• NCES district ID: 4814970
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $35,388
• Composite: 16.9/100
• National rank: #9141
• State rank: #781 of 826 in TX

Livability — Lacy-Lakeview

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lacy-Lakeview, TX
• County: McLennan County · 213,088 people
• City population: 31,616
• Metro: Waco, TX
• Population (ZIP): 31,616
• Household income: $58,236
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 668.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 32% Two or more races 20% Black 18% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -91.45%
• Current HPI: 217.9429
• Rent YoY: ▲ 2.20%
• 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

-9.6% since first listed

8 events — show timeline

• 2026-04-22 Price Changed $179,900 NTREIS
• 2026-03-27 Price Changed $181,900 NTREIS
• 2026-03-26 Price Changed $178,900 NTREIS
• 2026-03-17 Price Changed $181,900 NTREIS
• 2026-02-16 Price Changed $188,900 NTREIS
• 2026-01-29 Listed $198,900 NTREIS
• 2026-01-15 Sold (Public Records) — Public Records
• 2026-01-15 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,581 · +10.9% YoY. Source: county tax records.