2525 Proctor Ave · Waco, TX 76708

$98,900

2 bd · 1.0 ba · 1,142 sqft · SingleFamily public records · 14 Days on market

Built 1939 8,233 sqft lot $87/sqft · 42% below area Est $170k · 42% under ↓ 18% since listing

---

Why this score? — see what drove the C+ 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 +21.2/30.0
• ARV discount +15.0/15.0
• 1% rule +8.6/10.0
• DSCR +6.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Great opportunity in Waco! This home at 2525 Proctor Ave features a roof approximately 10 years old and an HVAC system around 12 years old. The property needs a little TLC but has no visible damage or major repairs needed, making it a great chance to add your personal touch without taking on a major renovation project. A solid home with great potential in a convenient Waco location!

Key facts

• 8,233 sq ft lot
• Garage
• Built 1939

Tags

• CONVENIENT WACO LOCATION

Property features AI

Finance

• Financial info: Accepts cash and conventional financing
• HOA & community: No homeowners association

Exterior

• Parking: Attached garage (1 covered space); Carport not provided
• Utilities: City water; City sewer
• Home design: Single-family residence; Residential property; Built in 1939
• Construction: Original construction from 1939
• Exterior features: Asphalt surfaces; Lot is under 0.5 acre (approx. 0.189 acres); Subdivision: Dean

Interior

• Kitchen: Gas range; Gas oven; Refrigerator
• Bedrooms: Primary bedroom on main level (approx. 11 x 11); Second bedroom on main level (approx. 10 x 10)
• Bathrooms: One full bathroom (on main level)
• Interior features: One-level layout; One living area and one dining area; Fireplace (1)
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 8.0% 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-.
• 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: Dean Highland El (math 15% / reading 20%, grade F, #3,805 of 4,322 statewide, top 89%, 598 students, 93% FRL); Indian Spring Middle (math 15% / reading 17%, grade F, #1,543 of 1,662 statewide, top 94%, 404 students, 95% FRL, charter); Waco H S (math 26% / reading 24%, grade F, #1,250 of 1,632 statewide, top 77%, 2,011 students, 88% FRL).
• Market conditions: Rents soft (-0.8%/yr); 381 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $684 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.4% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $98,900

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.36% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.22%
• DSCR: 1.28
• GRM: 6.1

CMA / ARV

• ARV (median comp): $169,912
• List price: $98,900
• Delta: -41.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2708 Proctor Ave	0.10mi	2/1.0	976 (-14%)	2mo	$159,000	$163	69
2704 Herring Ave	0.11mi	2/2.0	1,286 (+13%)	1mo	$210,000	$163	69
3005 Windsor Ave	0.39mi	2/1.0	1,235 (+8%)	1mo	$199,900	$162	67
2319 Parrot	0.66mi	2/2.0	1,152 (+1%)	0mo	$75,000	$65	64
3117 Fadal Ave	0.73mi	3/1.0 (+1)	1,128 (-1%)	1mo	$200,000	$177	58
3400 Cumberland Ave	0.74mi	3/1.0 (+1)	1,176 (+3%)	2mo	$154,000	$131	53
2701 Mckenzie Ave	0.40mi	3/2.0 (+1)	1,292 (+13%)	3mo	$205,000	$159	48
3325 Maple Ave	0.73mi	2/1.0	1,028 (-10%)	3mo	$199,900	$194	47
1815 Maple Ave	0.69mi	2/1.0	1,008 (-12%)	2mo	$155,000	$154	47
3104 Fadal Ave	0.69mi	3/2.0 (+1)	1,221 (+7%)	3mo	$199,900	$164	45
2805 Parrott Ave	0.66mi	3/2.0 (+1)	1,236 (+8%)	3mo	$190,000	$154	44
2019 Summer Ave	0.67mi	3/2.0 (+1)	1,008 (-12%)	0mo	$169,000	$168	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.62×
• Total profit: $-10,658
• Equity at exit: $14,746

10-year hold

• IRR: -8.4%
• Equity multiple: 0.56×
• Total profit: $-12,070
• Equity at exit: $8,551

Cash invested: $27,692 (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 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 381
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,345 high
• Mortgage (P&I): −$519
• Tax from tax record: −$359 /mo · $4,311/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $144

Break-even live

Break-even rent $1,163

Max offer price $98,900

Occupancy floor 84%

Sensitivity live

Price	-10% $200	-5% $172	+0% $144	+5% $116	+10% $88
Rent	-10% $37	-5% $90	+0% $144	+5% $197	+10% $250
Rate	-1.0pp $193	-0.5pp $169	base $144	+0.5pp $118	+1.0pp $92

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 Herring Ave Unit 1 Waco, TX	3.0	1.0	989	$1,295	$1.31	45d	1	0.06mi
2504 Lyle Ave Waco, TX	3.0	2.0	1028	$1,475	$1.43	22d	1	0.10mi
2704 Herring Ave Waco, TX	2.0	2.0	1286	$1,750	$1.36	22d	1	0.11mi
2404 Proctor Ave Unit 2 Waco, TX	1.0	1.0	837	$950	$1.14	15d	1	0.12mi
2404 Proctor Ave Waco, TX	1.0	1.0	837	$1,000	$1.19	22d	1	0.12mi
2402 Proctor Ave Waco, TX	1.0	1.0	1000	$950	$0.95	15d	1	0.13mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	45d	1	0.16mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	22d	1	0.16mi
2712 Mitchell Ave Waco, TX	3.0	1.0	1120	$1,300	$1.16	22d	1	0.21mi
2313 Mitchell Ave Waco, TX	2.0	1.0	804	$1,150	$1.43	22d	1	0.26mi
2621 Windsor Ave Waco, TX	2.0	1.0	1108	$1,175	$1.06	22d	1	0.27mi
2805 Mitchell Ave Waco, TX	2.0	1.0	1024	$1,145	$1.12	15d	1	0.31mi
2717 Alexander Ave Waco, TX	2.0	2.0	1200	$2,000	$1.67	22d	1	0.32mi
2121 Lyle Ave Waco, TX	2.0	1.0	1080	$1,000	$0.93	15d	1	0.32mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	45d	1	0.33mi
2600 McKenzie Ave Waco, TX	3.0	1.0	1096	$1,395	$1.27	22d	1	0.33mi
2225 Windsor Ave Waco, TX	2.0	1.0	840	$1,100	$1.31	45d	1	0.33mi
2408 McKenzie Ave Unit A Waco, TX	3.0	2.0	872	$1,350	$1.55	22d	1	0.34mi
2401 McKenzie Ave Waco, TX	3.0	1.5	1288	$1,300	$1.01	22d	1	0.38mi
2224 Cumberland Ave Waco, TX	2.0	1.0	768	$1,075	$1.40	45d	1	0.43mi
1920 Windsor Ave Waco, TX	3.0	1.0	1216	$1,200	$0.99	45d	1	0.54mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	15d	1	0.54mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	45d	1	0.54mi
1905 N 19th St Waco, TX	1.0	1.0	816	$875	$1.07	22d	1	0.62mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	15d	1	0.63mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	45d	1	0.67mi
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	22d	1	0.74mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	22d	1	0.74mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	22d	1	0.82mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	45d	1	0.87mi
3532 Windsor Ave Waco, TX	3.0	2.0	1100	$1,475	$1.34	15d	1	0.88mi
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	45d	1	0.91mi
1614 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$925	$1.10	15d	1	0.96mi
1611 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$985	$1.18	15d	1	0.98mi
3625 Maple Ave Waco, TX	2.0	1.0	950	$1,275	$1.34	45d	1	0.98mi
2705 Bosque Blvd Waco, TX	3.0	2.0	1028	$1,599	$1.56	45d	1	1.00mi
2332 Melissa Dr Waco, TX	2.0	1.0	990	$1,395	$1.41	15d	1	1.03mi
3825 Kimberly Dr Waco, TX	2.0	2.0	1233	$1,250	$1.01	22d	1	1.03mi
2724 Bosque Blvd Waco, TX	2.0	1.0	1120	$1,100	$0.98	22d	1	1.04mi
2612 Alice Ave Waco, TX	2.0	1.0	964	$1,250	$1.30	22d	1	1.07mi

Listing history 6 events

1. 2026-05-15
   listed $119,900 Active 385-char remark
2. 2014-08-07
   soldstatus
3. 2010-02-23
   soldstatus
4. 2008-06-25
   soldstatus
5. 2008-05-20
   soldstatus
6. 2003-09-16
   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: $4,311 · $359/mo
• Projected year-2 tax: $4,311 · $359/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 ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% 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: $16,143
• − Mortgage interest: −$5,540
• − Property taxes: −$4,311
• − Insurance: −$494
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$2,877
• Taxable income: $337
• Est. tax owed @ 24.0%: −$81
• After-tax cash flow: $1,642/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: 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

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): 27,790
• Household income: $68,856
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 583.0

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 0.63)
• Race & ethnicity: White 50% Hispanic / Latino 31% Two or more races 20% Black 13% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 21% Other Asian/Pacific 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: ▼ -78.80%
• Current HPI: 218.9643
• Rent YoY: ▼ -0.80%
• 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

-17.5% since first listed

8 events — show timeline

• 2026-05-29 Listing Removed — NTREIS
• 2026-05-27 Price Changed $98,900 NTREIS
• 2026-05-15 Listed $119,900 NTREIS
• 2014-08-07 Sold (Public Records) — Public Records
• 2010-02-23 Sold (Public Records) — Public Records
• 2008-06-25 Sold (Public Records) — Public Records
• 2008-05-20 Sold (Public Records) — Public Records
• 2003-09-16 Sold (Public Records) — Public Records

Property tax history

+12.1%/yr

Latest (2025): $4,311 · +1.1% YoY. Source: county tax records.