1214 Baylor Ave #116 · Waco, TX 76706

$110,000

1 bd · 1.0 ba · 640 sqft · Condo · 203 Days on market

Built 1983 Good condition $172/sqft · 15% below area Est $130k · 15% under $122/mo HOA · 13% of rent ↓ 3% since listing

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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).

• ARV discount +14.5/15.0
• Cash flow +7.2/30.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +3.0/5.0
• Schools +2.3/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ADORABLE, RENOVATED CONDO inside the BAYLOR BUBBLE! This clean and cheerful 1 bedroom, 1 bath condo is being sold FULLY FURNISHED! Recently renovated in the last 2 years with some fresh paint, new stainless steel appliances to include fridge, oven, microwave and dishwasher, plus a light and bright refreshed bathroom. Property comes equipped with a washer and dryer for added convenience. The Casa Condominiums is a completely gated complex equipped with a swimming pool, ample parking, a grassy courtyard area, quiet atmosphere, and is located within walking distance to campus! Plus just minutes to downtown Waco and the Silos! This is the perfect spot to call home for the upcoming Fall 2026 semester. Come take a look today!

Key facts

• Gated complex
• Grassy courtyard
• Renovated condo

Tags

• RENOVATED CONDO
• FULLY FURNISHED
• NEW STAINLESS STEEL APPLIANCES
• GATED COMPLEX
• SWIMMING POOL
• GRASSY COURTYARD

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $88k (20.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (16.2% below list).
• Recommended offer: $88k (20.2% below list) — sets the bar for cash-flow.

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-.
• Waco ISD (urban): math 20% / reading 24% proficiency, ranked #773 of 826 in TX (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South Waco El (math 8% / reading 22%, grade F, #4,021 of 4,322 statewide, top 94%, 462 students, 96% FRL); Cesar Chavez Middle (math 16% / reading 24%, grade F, #1,428 of 1,662 statewide, top 87%, 840 students, 94% FRL); University H S (math 39% / reading 31%, grade F, #954 of 1,632 statewide, top 59%, 1,678 students, 89% FRL).
• Market conditions: Rents rising (+1.9%/yr); 405 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 70d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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 $761 of loan paydown is wiped out by about $3k 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 203 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $15k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 55% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,745 (20.2% 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 203 days. Have you received any prior offers? Is the seller open to a 20% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 4.62%
• Cash-on-cash: -5.99%
• DSCR: 0.73
• GRM: 9.9

CMA / ARV

• ARV (median comp): $130,156
• List price: $110,000
• Delta: -15.49%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 Baylor Ave #215	0.02mi	1/1.0	640 (0%)	18mo	$135,000	$211	84
1608 Connor Ave	0.32mi	2/1.0 (+1)	672 (+5%)	22mo	$120,000	$179	53
330 Austin Ave #318	1.18mi	1/1.0	588 (-8%)	2mo	$280,000	$476	50
330 Austin Ave #303	1.18mi	1/1.0	588 (-8%)	3mo	$269,500	$458	49
911 Oakwood Ave	0.67mi	1/1.0	596 (-7%)	10mo	$60,900	$102	49
1925 S 20th St	0.68mi	2/1.5 (+1)	790 (+23%)	3mo	$199,000	$252	33
1927 S 20th St	0.69mi	2/1.5 (+1)	796 (+24%)	3mo	$199,000	$250	33
2511 S 7th	0.91mi	2/1.0 (+1)	772 (+21%)	6mo	$140,000	$181	30
819 Benton	0.90mi	2/1.0 (+1)	752 (+18%)	9mo	$45,000	$60	28
330 Austin Ave #305	1.18mi	1/1.0	523 (-18%)	16mo	$250,000	$478	26
219 S 4th St #501	1.09mi	1/1.0	776 (+21%)	20mo	$449,900	$580	24
330 Austin Ave #219	1.18mi	1/1.0	523 (-18%)	20mo	$226,380	$433	23

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 · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.07×
• Total profit: $-28,577
• Equity at exit: $16,401

10-year hold

• IRR: -32.3%
• Equity multiple: -0.34×
• Total profit: $-41,330
• Equity at exit: $9,511

Cash invested: $30,800 (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 76706

• Home prices YoY: -29.1%
• Rents YoY: 1.9%
• Active inventory: 405
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $922 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$122
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-154

Break-even live

Break-even rent $1,117

Max offer price $87,745

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-116	+0% $-154	+5% $-192	+10% $-230
Rent	-10% $-227	-5% $-190	+0% $-154	+5% $-117	+10% $-81
Rate	-1.0pp $-98	-0.5pp $-126	base $-154	+0.5pp $-182	+1.0pp $-211

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: $27,500
• Closing costs: $3,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1508 S 13th St Waco, TX	1.0–2.0	1.0	775	$750	$0.97	62d	1	0.03mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	736	$795	$1.08	92d	2	0.04mi
1120 James Ave Unit Brownstone 205 Waco, TX	1.0	1.0	650	$795	$1.22	70d	1	0.17mi
2005 S 8th St Waco, TX	1.0–2.0	1.0–2.0	685	$725	$1.06	62d	2	0.51mi
715 Cleveland Ave Waco, TX	1.0–3.0	1.0–3.0	845	$1,143	$1.35	62d	23	0.62mi
2100 S 19th St Waco, TX	1.0	1.0	684	$1,300	$1.90	70d	1	0.69mi
709 S 6th St Waco, TX	1.0	1.0	655	$925	$1.41	70d	1	0.74mi
700 S 4th St Waco, TX	1.0–3.0	1.0–2.0	889	$1,175	$1.32	62d	12	0.94mi
1800 Primrose Dr Waco, TX	1.0–4.0	1.0–2.0	942	$850	$0.90	62d	33	0.95mi
700 Franklin Ave Waco, TX	1.0	1.0	702	$1,200	$1.71	70d	1	1.05mi
1726 Austin Ave Unit 210 Waco, TX	1.0	1.0	660	$2,095	$3.17	92d	1	1.10mi
1726 Austin Ave Unit 208 Waco, TX	1.0	1.0	560	$1,895	$3.38	92d	1	1.10mi
66 Daughtrey Ave Waco, TX	1.0–2.0	1.0–2.0	825	$919	$1.11	62d	1	1.14mi
601 Franklin Ave Apt 6B Waco, TX	1.0	1.0	625	$1,550	$2.48	62d	1	1.15mi
1625 Columbus Ave Unit A Waco, TX	1.0	1.0	550	$700	$1.27	92d	1	1.27mi
224 Gurley Ln Waco, TX	2.0	1.0	700	$1,025	$1.46	70d	1	1.29mi
215 Washington Ave Waco, TX	1.0–4.0	1.0–4.0	919	$499	$0.54	70d	1	1.42mi

HOA detail $122/mo · $1,464/yr condo

• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-07-31
   days on market $110,000 Active 203 DOM
2. 2026-07-30
   days on market $110,000 Active 202 DOM
3. 2026-07-29
   days on market $110,000 Active 201 DOM
4. 2026-07-27
   days on market $110,000 Active 199 DOM
5. 2026-07-25
   days on market $110,000 Active 197 DOM
6. 2026-07-24
   days on market $110,000 Active 196 DOM
7. 2026-07-23
   days on market $110,000 Active 195 DOM
8. 2026-07-22
   days on market $110,000 Active 194 DOM
9. 2026-07-21
   days on market $110,000 Active 193 DOM
10. 2026-07-18
    days on market $110,000 Active 190 DOM
11. 2026-07-16
    days on market $110,000 Active 188 DOM
12. 2026-07-16
    days on market $110,000 Active 187 DOM
13. 2026-07-14
    days on market $110,000 Active 186 DOM
14. 2026-07-13
    days on market $110,000 Active 185 DOM
15. 2026-07-12
    days on market $110,000 Active 184 DOM
16. 2026-07-11
    days on market $110,000 Active 183 DOM
17. 2026-07-10
    days on market $110,000 Active 182 DOM
18. 2026-07-09
    days on market $110,000 Active 181 DOM
19. 2026-07-08
    days on market $110,000 Active 180 DOM
20. 2026-07-07
    days on market $110,000 Active 179 DOM
21. 2026-07-06
    days on market $110,000 Active 178 DOM
22. 2026-07-05
    days on market $110,000 Active 177 DOM
23. 2026-07-04
    days on market $110,000 Active 176 DOM
24. 2026-07-03
    days on market $110,000 Active 175 DOM
25. 2026-07-02
    days on market $110,000 Active 174 DOM
26. 2026-07-01
    days on market $110,000 Active 173 DOM
27. 2026-06-30
    days on market $110,000 Active 172 DOM
28. 2026-06-29
    days on market $110,000 Active 171 DOM
29. 2026-06-28
    days on market $110,000 Active 170 DOM
30. 2026-06-28
    days on market $110,000 Active 169 DOM
31. 2026-06-27
    days on market $110,000 Active 168 DOM
32. 2026-06-25
    days on market $110,000 Active 166 DOM
33. 2026-06-23
    days on market $110,000 Active 164 DOM
34. 2026-06-21
    days on market $110,000 Active 163 DOM
35. 2026-06-18
    days on market $110,000 Active 160 DOM
36. 2026-06-17
    days on market $110,000 Active 159 DOM
37. 2026-06-16
    days on market $110,000 Active 158 DOM
38. 2026-06-15
    days on market $110,000 Active 157 DOM
39. 2026-06-14
    days on market $110,000 Active 155 DOM
40. 2026-06-13
    days on market $110,000 Active 154 DOM
41. 2026-06-10
    days on market $110,000 Active 152 DOM
42. 2026-06-09
    days on market $110,000 Active 151 DOM
43. 2026-06-09
    price $110,000 Active 150 DOM
44. 2026-06-08
    days on market $116,000 Active 150 DOM
45. 2026-06-07
    days on market $116,000 Active 149 DOM
46. 2026-06-05
    days on market $116,000 Active 146 DOM
47. 2026-06-03
    days on market $116,000 Active 145 DOM
48. 2026-06-02
    days on market $116,000 Active 144 DOM
49. 2026-06-01
    days on market $116,000 Active 143 DOM
50. 2026-05-31
    days on market $116,000 Active 142 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 55% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,064
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$885
• − Management: −$885
• − HOA: −$1,464
• − Depreciation: −$3,200
• Taxable loss: −$3,732
• Est. tax savings @ 24.0%: +$896
• After-tax cash flow: $-950/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.

Condition & rehab AI · 0 photos

Good 75/100 Cosmetic rehab Est. rehab $3,200–$9,600 screening

This fully renovated and furnished condo is in excellent condition with recent updates, making it a great investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring — Improves aesthetics and adds value ↑
• Both Painting exterior — Enhances curb appeal and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 23/100

Zoned Schools

Elementary South Waco El F TX #4,021/4,322 Nat'l #36,424/41,679 Middle Cesar Chavez Middle F TX #1,428/1,662 Nat'l #11,652/14,009 High University H S F TX #954/1,632 Nat'l #9,567/17,239

Schools (NCES district)

• District: Waco ISD
• NCES district ID: 4844280
• Math proficiency: 20% ▼ -14.00%
• Reading proficiency: 24% ▼ -6.00%
• Median HH income: $29,208
• Composite: 17.57/100
• National rank: #9043
• State rank: #773 of 826 in TX

B Composite livability gradescore 74/100

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 · 264,191 people
• City population: 125,319
• Metro: Waco, TX
• Population (ZIP): 41,627
• Household income: $41,656
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 14% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 31% Two or more races 17% Black 15% Asian 3%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 1% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 19% Other Indo-European 1%

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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: ▼ -94.31%
• Current HPI: 230.2557
• Rent YoY: ▲ 1.86%
• Metro: Waco, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-3.3% since first listed

15 events — show timeline

• 2026-05-09 Price Changed $116,000 NTREIS
• 2026-04-03 Price Changed $119,000 NTREIS
• 2026-01-09 Listed $125,000 NTREIS
• 2025-12-06 Listing Removed — NTREIS
• 2025-10-16 Price Changed $125,000 NTREIS
• 2025-07-09 Relisted — NTREIS
• 2025-07-03 Pending — NTREIS
• 2025-06-24 Contingent — NTREIS
• 2025-06-05 Listed $137,900 NTREIS
• 2024-10-23 Listing Removed — NTREIS
• 2024-07-24 Rental Removed $1,950 WAORMLS
• 2024-07-23 Listed $137,900 NTREIS
• 2024-06-26 Listed for Rent $1,950 WAORMLS
• 2023-10-10 Sold (MLS) — NTREIS
• 2023-05-25 Listed $120,000 NTREIS