1326 S 11 St #2 · Waco, TX 76706

$96,500

1 bd · 1.0 ba · — sqft · Condo · 83 Days on market

Built 1982 Good condition $150/mo HOA · 13% of rent ↓ 1% 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).

• Cash flow +17.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +5.6/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Key facts

• 1,307 sq ft lot
• Pool
• Built 1982

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $96k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $79 ($945/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $96k).
• Recommended offer: $91k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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-.
• 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); 318 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); lower-income renter base — watch delinquency; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 33% of the median local income ($42k/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 $667 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 83 days — a 6% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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 $90,710 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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 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: 1.17% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -12.2%
• Equity multiple: 0.56×
• Total profit: $-11,799
• Equity at exit: $14,388

10-year hold

• IRR: -5.1%
• Equity multiple: 0.68×
• Total profit: $-8,529
• Equity at exit: $8,344

Cash invested: $27,020 (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: 318
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,134 high
• Mortgage (P&I): −$506
• Tax est. 1.5%: −$121 /mo · $1,448/yr
• Insurance: −$40
• HOA: −$150
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $79

Break-even live

Break-even rent $1,034

Max offer price $96,500

Occupancy floor 88%

Sensitivity live

Price	-10% $145	-5% $112	+0% $79	+5% $45	+10% $12
Rent	-10% $-11	-5% $34	+0% $79	+5% $124	+10% $168
Rate	-1.0pp $127	-0.5pp $103	base $79	+0.5pp $54	+1.0pp $28

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: $24,125
• Closing costs: $2,895
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 S 11th St Waco, TX	2.0	2.5	1083	$1,209	$1.12	15d	14	0.06mi
1348 S 12th St Waco, TX	2.0	2.0	958	$1,300	$1.36	22d	1	0.07mi
1214 Baylor Ave Waco, TX	2.0	2.0	832	$1,020	$1.23	22d	1	0.13mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	736	$795	$1.08	45d	2	0.13mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	832	$795	$0.96	15d	2	0.13mi
1421 S 12th St Unit A Waco, TX	2.0	2.5	—	$799	—	45d	1	0.14mi
1421 S 12th St Waco, TX	2.0	2.0	928	$985	$1.06	15d	3	0.14mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,337	$1.31	15d	2	0.14mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,350	$1.32	22d	2	0.14mi
1508 S 13th St Waco, TX	1.0–2.0	1.0	775	$750	$0.97	15d	1	0.18mi
1120 James Ave Unit Brownstone 205 Waco, TX	1.0	1.0	650	$795	$1.22	22d	1	0.22mi
1311 Speight Ave Waco, TX	2.0	2.5	1143	$1,195	$1.05	15d	1	0.22mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	22d	1	0.22mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	15d	1	0.22mi
1311 Speight Ave #1311 Waco, TX	2.0	2.5	1143	$1,500	$1.31	22d	1	0.23mi
1701 S 12th St Unit 5202 Waco, TX	2.0	2.5	—	$1,250	—	22d	1	0.23mi
1342 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	15d	1	0.25mi
1226 James Ave Waco, TX	2.0	2.0	—	$975	—	22d	1	0.27mi
1911 S 8th St Waco, TX	2.0	1.0	798	$1,198	$1.50	22d	1	0.43mi
1925 S 12th St Waco, TX	2.0	2.5	—	$1,200	—	22d	1	0.44mi
600 Bagby Ave Waco, TX	2.0	2.0–2.5	1102	$1,496	$1.36	22d	2	0.45mi
600 Bagby Ave Waco, TX	2.0–3.0	2.5	1206	$1,500	$1.24	45d	3	0.45mi
1521 Bagby Ave Apt I Waco, TX	1.0	1.0	—	$900	—	45d	1	0.46mi
2005 S 8th St Waco, TX	1.0–2.0	1.0–2.0	685	$725	$1.06	15d	2	0.48mi
715 Cleveland Ave Waco, TX	1.0–3.0	1.0–3.0	845	$1,143	$1.35	15d	23	0.49mi
2011 S 8th St Waco, TX	1.0	1.0	—	$950	—	22d	1	0.51mi
2011 S 8th St Waco, TX	1.0	1.0	—	$950	—	45d	1	0.51mi
1920 S 16th St Waco, TX	2.0	2.5	—	$1,275	—	15d	1	0.57mi
1800 S 5th St Waco, TX	2.0	2.0	900	$1,240	$1.38	22d	1	0.59mi
412 University St Waco, TX	2.0	1.0	864	$1,895	$2.19	22d	1	0.61mi
709 S 6th St Waco, TX	1.0	1.0	655	$925	$1.41	22d	1	0.62mi
410 Daughtrey Ave Waco, TX	1.0	2.0	897	$1,000	$1.11	22d	1	0.68mi
1901 Dutton Ave Waco, TX	2.0	1.0	864	$1,400	$1.62	15d	1	0.70mi
1825 S 3rd St Waco, TX	2.0	2.0	—	$525	—	22d	1	0.70mi
700 S 4th St Waco, TX	1.0–3.0	1.0–2.0	889	$1,175	$1.32	15d	12	0.79mi
2100 S 19th St Waco, TX	1.0	1.0	684	$1,300	$1.90	22d	1	0.83mi
700 Franklin Ave Waco, TX	1.0	1.0	702	$1,200	$1.71	22d	1	0.95mi
700 Franklin Ave Waco, TX	2.0	2.0	802	$1,500	$1.87	45d	1	0.95mi
2227 S 3rd St Waco, TX	2.0–3.0	2.0–3.0	—	$1,550	—	15d	1	0.96mi
2000 S 1st St Waco, TX	2.0–5.0	1.0–3.0	1318	$699	$0.53	15d	19	0.98mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-21
   days on market $96,500 Active 83 DOM
2. 2026-06-18
   days on market $96,500 Active 80 DOM
3. 2026-06-17
   days on market $96,500 Active 79 DOM
4. 2026-06-16
   days on market $96,500 Active 78 DOM
5. 2026-06-15
   days on market $96,500 Active 77 DOM
6. 2026-06-14
   days on market $96,500 Active 75 DOM
7. 2026-06-13
   days on market $96,500 Active 74 DOM
8. 2026-06-10
   days on market $96,500 Active 72 DOM
9. 2026-06-09
   days on market $96,500 Active 71 DOM
10. 2026-06-08
    days on market $96,500 Active 70 DOM
11. 2026-06-07
    days on market $96,500 Active 69 DOM
12. 2026-06-05
    days on market $96,500 Active 66 DOM
13. 2026-06-03
    days on market $96,500 Active 65 DOM
14. 2026-06-02
    days on market $96,500 Active 64 DOM
15. 2026-06-01
    days on market $96,500 Active 63 DOM
16. 2026-05-31
    days on market $96,500 Active 62 DOM
17. 2026-05-30
    days on market $96,500 Active 61 DOM
18. 2026-03-27
    listed $96,500 Active
19. 2025-08-21
    historical
20. 2025-05-06
    listed $96,500 Active
21. 2024-12-18
    historical
22. 2024-09-04
    listed $99,000
23. 2024-08-14
    historical
24. 2024-04-23
    listed $99,000
25. 2023-11-30
    historical
26. 2022-10-09
    listed $97,500

ⓘ 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 2/10 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: $13,605
• − Mortgage interest: −$5,406
• − Property taxes: −$1,448
• − Insurance: −$482
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − HOA: −$1,800
• − Depreciation: −$2,807
• Taxable loss: −$515
• Est. tax savings @ 24.0%: +$124
• After-tax cash flow: $1,068/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 · 11 photos

Good 75/100 Cosmetic rehab

This condo is in good condition with cosmetic updates needed to enhance its curb appeal and resale value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet with hardwood — Improves aesthetics and rental appeal
• Both Update kitchen appliances — Modernizes kitchen and attracts buyers
• Both Install new bathroom fixtures — Enhances bathroom functionality and appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet with hardwood — Improves aesthetics and rental appeal ↑
• Both Update kitchen appliances — Modernizes kitchen and attracts buyers ↑
• Both Install new bathroom fixtures — Enhances bathroom functionality and appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 41,627
• Household income: $41,656
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 3883.0

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 0.64)
• 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%

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

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

-1.0% since first listed

9 events — show timeline

• 2026-03-27 Listed $96,500 NTREIS
• 2025-08-21 Listing Removed — NTREIS
• 2025-05-06 Listed $96,500 NTREIS
• 2024-12-18 Listing Removed — NTREIS
• 2024-09-04 Listed $99,000 NTREIS
• 2024-08-14 Listing Removed — NTREIS
• 2024-04-23 Listed $99,000 NTREIS
• 2023-11-30 Listing Removed — NTREIS
• 2022-10-09 Listed $97,500 NTREIS