1715 Live Oak Ave · Waco, TX 76708

$159,999

1 bd · 1.0 ba · 1,008 sqft · MultiFamily public records · 47 Days on market

Built 1920 8,233 sqft lot $159/sqft · 10% above area Est $145k · 10% over

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Why this score? — see what drove the F 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 +9.0/30.0
• Livability +3.7/5.0
• ARV discount +2.9/15.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• 1% rule +2.1/10.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

3 bedroom 1.5 bathroom home! Currently rented out, reach out to schedule a showing. Seller is open to owner-financing!

Key facts

• 8,233 sq ft lot
• Built 1920
• Listed 47 days

Property features AI

Finance

• Other: Parcel number 480424000286000; County: McLennan; Country: United States; Geocode confidence: High
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Driveway; Gravel parking
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1920; Pillar/post/pier foundation
• Exterior features: Lot in University Heights subdivision; Lot under 0.5 acre (approximately 0.189 acres)

Interior

• Kitchen: No appliances included
• Bedrooms: Three bedrooms (all on the main level); Primary bedroom on the main level
• Bathrooms: One full bathroom; One half bathroom
• Interior features: Built-in features; Five total rooms; One living area; One dining area
• Laundry & utility: No specific laundry or utility equipment listed

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (29.4% below list).
• Recommended offer: $113k (29.4% below list) — sets the bar for 1% rule.
• Cap rate 5.4% 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: Brook Avenue El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 369 students, 98% FRL, charter); G W Carver Middle (math 9% / reading 13%, grade F, #1,634 of 1,662 statewide, top 99%, 393 students, 96% 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; 28 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 $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 47 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — 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 $112,938 (29.4% 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 47 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

• ARV (median comp): $145,083
• List price: $159,999
• Delta: 10.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -25.0%
• Equity multiple: 0.17×
• Total profit: $-37,253
• Equity at exit: $23,856

10-year hold

• IRR: -32.2%
• Equity multiple: -0.24×
• Total profit: $-55,657
• Equity at exit: $13,834

Cash invested: $44,800 (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 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 381
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,129 high
• Mortgage (P&I): −$839
• Tax from tax record: −$112 /mo · $1,341/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $-125

Break-even live

Break-even rent $1,288

Max offer price $137,866

Occupancy floor —

Sensitivity live

Price	-10% $-35	-5% $-80	+0% $-125	+5% $-171	+10% $-216
Rent	-10% $-215	-5% $-170	+0% $-125	+5% $-81	+10% $-36
Rate	-1.0pp $-45	-0.5pp $-85	base $-125	+0.5pp $-167	+1.0pp $-209

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1905 N 19th St Waco, TX	1.0	1.0	816	$875	$1.07	23d	1	0.15mi
2225 Windsor Ave Waco, TX	2.0	1.0	840	$1,100	$1.31	45d	1	0.42mi
2224 Cumberland Ave Waco, TX	2.0	1.0	768	$1,075	$1.40	45d	1	0.45mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	45d	1	0.47mi
2121 Lyle Ave Waco, TX	2.0	1.0	1080	$1,000	$0.93	15d	1	0.47mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	45d	1	0.51mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	15d	1	0.51mi
2402 Proctor Ave Waco, TX	1.0	1.0	1000	$950	$0.95	15d	1	0.54mi
2404 Proctor Ave Waco, TX	1.0	1.0	837	$1,000	$1.19	23d	1	0.54mi
2404 Proctor Ave Unit 2 Waco, TX	1.0	1.0	837	$950	$1.14	15d	1	0.54mi
2313 Mitchell Ave Waco, TX	2.0	1.0	804	$1,150	$1.43	23d	1	0.63mi
2621 Windsor Ave Waco, TX	2.0	1.0	1108	$1,175	$1.06	23d	1	0.68mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	45d	1	0.76mi
2704 Herring Ave Waco, TX	2.0	2.0	1286	$1,750	$1.36	23d	1	0.77mi
817 Colcord Ave Waco, TX	1.0	1.0	700	$1,225	$1.75	45d	1	0.81mi
1906 Bosque Blvd Unit 1 Waco, TX	1.0	1.0	880	$875	$0.99	23d	1	0.82mi
2717 Alexander Ave Waco, TX	2.0	2.0	1200	$2,000	$1.67	23d	1	0.92mi
930 N 11th St Waco, TX	1.0	1.0	924	$690	$0.75	23d	1	0.94mi
2805 Mitchell Ave Waco, TX	2.0	1.0	1024	$1,145	$1.12	15d	1	0.95mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$999	$1.19	23d	1	1.04mi
3400 Adeline Dr Waco, TX	2.0	1.0	1232	$1,150	$0.93	45d	1	1.09mi
2724 Bosque Blvd Waco, TX	2.0	1.0	1120	$1,100	$0.98	23d	1	1.12mi
2632 Colonial Ave Unit B Waco, TX	2.0	1.0	896	$1,050	$1.17	23d	1	1.13mi
615 N 23rd St Waco, TX	2.0	1.0	900	$1,275	$1.42	23d	1	1.27mi
3116 Bosque Blvd Waco, TX	2.0	1.0	1100	$1,250	$1.14	15d	1	1.36mi
2714 Morrow Ave Waco, TX	2.0	1.0	1484	$1,375	$0.93	23d	1	1.41mi
2601 Fort Ave Unit 4 Waco, TX	2.0	1.0	1000	$990	$0.99	45d	1	1.43mi
2612 Alice Ave Waco, TX	2.0	1.0	964	$1,250	$1.30	23d	1	1.46mi

Listing history 19 events

1. 2026-06-21
   days on market $159,999 Active 47 DOM
2. 2026-06-18
   days on market $159,999 Active 44 DOM
3. 2026-06-17
   days on market $159,999 Active 43 DOM
4. 2026-06-16
   days on market $159,999 Active 42 DOM
5. 2026-06-15
   days on market $159,999 Active 41 DOM
6. 2026-06-14
   days on market $159,999 Active 39 DOM
7. 2026-06-13
   days on market $159,999 Active 38 DOM
8. 2026-06-10
   days on market $159,999 Active 36 DOM
9. 2026-06-09
   days on market $159,999 Active 35 DOM
10. 2026-06-08
    days on market $159,999 Active 34 DOM
11. 2026-06-07
    days on market $159,999 Active 33 DOM
12. 2026-06-05
    days on market $159,999 Active 30 DOM
13. 2026-06-03
    days on market $159,999 Active 29 DOM
14. 2026-06-02
    days on market $159,999 Active 28 DOM
15. 2026-06-01
    days on market $159,999 Active 27 DOM
16. 2026-05-31
    days on market $159,999 Active 26 DOM
17. 2026-05-30
    days on market $159,999 Active 25 DOM
18. 2026-05-05
    listed $159,999 Active 118-char remark
19. 2003-11-10
    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: $1,341 · $112/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$1,587/yr (+$132/mo · 118.3%)

ⓘ 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 2/10 Low
• 🌡 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: $13,553
• − Mortgage interest: −$8,962
• − Property taxes: −$1,341
• − Insurance: −$800
• − Repairs & maintenance: −$1,084
• − Management: −$1,084
• − Depreciation: −$4,655
• Taxable loss: −$4,374
• Est. tax savings @ 24.0%: +$1,050
• After-tax cash flow: $-454/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

2 events — show timeline

• 2026-05-05 Listed $159,999 NTREIS
• 2003-11-10 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $1,341 · -7.6% YoY. Source: county tax records.