11233 Solar St · Waco, TX 76655

$300,000

3 bd · 2.0 ba · 1,662 sqft · SingleFamily public records · 16 Days on market

Built 2022 Good condition 6,882 sqft lot $38/mo HOA · 2% of rent

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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 +8.5/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this pristine property on a spacious corner lot in Midway ISD. Experience the perfect blend of comfort and convenience in this immaculate and move in ready home. Featuring four bedrooms and two bathrooms, this stunning residence is bathed in beautiful natural light throughout. The seamless open floorplan creates an inviting atmosphere that is absolutely ideal for hosting and entertaining family and friends. Retreat to the isolated primary suite, which offers a private sanctuary complete with a dedicated ensuite bathroom and a generous walk in closet. Providing an excellent layout for privacy and functionality, the home also features three additional secondary bedrooms and a

Key facts

• Private sanctuary
• Open floorplan
• Walk in closet

Tags

• CORNER LOT
• FULLY FENCED YARD
• PRIVATE SANCTUARY
• DEDICATED ENSUITE BATHROOM
• WALK IN CLOSET
• OPEN FLOORPLAN

Property features AI

Finance

• Other: Deed restrictions; Utility easement
• Financial info: Listing accepts Cash, Conventional, FHA and VA financing
• HOA & community: Mandatory HOA; Annual association fee; HOA provides full use of facilities, grounds maintenance and management; HOA managed by RealManage

Exterior

• Parking: Attached 2-car garage; Covered parking for 2 vehicles; Concrete driveway; Garage doors with opener and double doors; Garage faces front; Paved driveway
• Security: Smoke detector(s); Carbon monoxide detector(s)
• Utilities: City water; City sewer; Individual water meter; Underground utilities; Community mailbox
• Home design: Single-family residence; One story; Residential property; Built in 2022; Preowned
• Construction: Brick and siding exterior; Shingle/composition roof; Slab foundation
• Exterior features: Covered porch(es); Covered patio/porch; Private entrance; Private yard; Back yard fencing with privacy; Corner lot; Landscaped yard with large backyard grass; Sprinkler system; Irrigation equipment; Few trees; Subdivision location; Utilities easement

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave; Granite counters; Kitchen island; Pantry; Eat-in kitchen
• Bedrooms: Primary bedroom on main level with ensuite bath, dual sinks and walk-in closet
• Flooring: Carpet; Luxury vinyl plank; Tile
• Bathrooms: Two full bathrooms; Primary bathroom with separate shower and built-in cabinets
• Heating & cooling: Central heat; Electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Open floorplan; Eat-in kitchen; Kitchen island; Granite counters; Pantry; Double vanity in primary bathroom; Built-in cabinets in primary suite; Walk-in closet(s); High speed internet available; Cable TV available; Chandelier; Vented exhaust fan; Window coverings
• Laundry & utility: Full-size washer/dryer area; Washer hookup; Electric dryer hookup; Utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-264 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $253k (15.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $253k (15.7% below list).
• Recommended offer: $253k (15.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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-.
• Midway ISD (other): math 61% / reading 58% proficiency, ranked #56 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Park Hill El (611 students, 43% FRL); Midway Middle (math 58% / reading 58%, grade B, #197 of 1,662 statewide, top 12%, 1,075 students, 47% FRL); Midway H S (math 66% / reading 67%, grade B, #186 of 1,632 statewide, top 11%, 2,648 students, 32% FRL).
• Market conditions: 269 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 30% of the median local income ($100k/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 $2k of loan paydown is wiped out by about $9k 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 16 days — a 2% lower offer ($296k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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 $252,871 (15.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.77%
• DSCR: 0.83
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.6%
• Equity multiple: 0.22×
• Total profit: $-65,274
• Equity at exit: $44,731

10-year hold

• IRR: -16.6%
• Equity multiple: 0.07×
• Total profit: $-77,866
• Equity at exit: $25,939

Cash invested: $84,000 (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 76655

• Home prices YoY: -31.3%
• Active inventory: 269
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,529 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$525 /mo · $6,306/yr
• Insurance: −$125
• HOA: −$38
• Vacancy / Maint / Mgmt: −$531
• Net cashflow: $-264

Break-even live

Break-even rent $2,863

Max offer price $253,361

Occupancy floor —

Sensitivity live

Price	-10% $-94	-5% $-179	+0% $-264	+5% $-349	+10% $-434
Rent	-10% $-464	-5% $-364	+0% $-264	+5% $-164	+10% $-64
Rate	-1.0pp $-113	-0.5pp $-188	base $-264	+0.5pp $-342	+1.0pp $-421

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3217 Jackal Dr Lorena, TX	4.0	2.0	1840	$2,400	$1.30	23d	1	0.21mi
3225 Marston Rd Lorena, TX	4.0	2.0	1850	$2,800	$1.51	45d	1	0.45mi
3128 Brosnan Rd Lorena, TX	3.0	2.0	1717	$2,350	$1.37	45d	1	0.53mi
2813 Gilchrist Dr Lorena, TX	3.0	2.0	1529	$2,200	$1.44	45d	1	0.59mi
2809 Keathley Dr Lorena, TX	3.0	2.0	1565	$2,100	$1.34	45d	1	0.60mi
3117 Sherco Rd Lorena, TX	3.0	2.0	1469	$2,000	$1.36	45d	1	0.62mi
2701 Skinner Dr Lorena, TX	3.0	2.0	1573	$2,400	$1.53	45d	1	0.72mi
10312 Sierra West Dr Waco, TX	3.0	2.0	1560	$2,300	$1.47	23d	1	0.90mi

HOA detail

• Monthly dues: $38 · $456/yr

Listing history 14 events

1. 2026-06-21
   days on market $300,000 Active 16 DOM
2. 2026-06-21
   days on market $300,000 Active 15 DOM
3. 2026-06-18
   days on market $300,000 Active 13 DOM
4. 2026-06-17
   days on market $300,000 Active 12 DOM
5. 2026-06-16
   days on market $300,000 Active 11 DOM
6. 2026-06-15
   days on market $300,000 Active 10 DOM
7. 2026-06-15
   pricedays on market $300,000 Active 9 DOM
8. 2026-06-13
   days on market $315,000 Active 8 DOM
9. 2026-06-12
   days on market $315,000 Active 7 DOM
10. 2026-06-10
    days on market $315,000 Active 4 DOM
11. 2026-06-08
    days on market $315,000 Active 3 DOM
12. 2026-06-08
    days on market $315,000 Active 2 DOM
13. 2026-06-07
    remarks 699-char remark
14. 2026-06-07
    listed $315,000 Active 1 DOM

ⓘ 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: $6,306 · $525/mo
• Projected year-2 tax: $6,306 · $525/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 8/10 Severe 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $30,345
• − Mortgage interest: −$16,805
• − Property taxes: −$6,306
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,428
• − Management: −$2,428
• − HOA: −$456
• − Depreciation: −$8,727
• Taxable loss: −$8,304
• Est. tax savings @ 24.0%: +$1,993
• After-tax cash flow: $-1,175/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 · 12 photos

Good 80/100 None rehab

This move-in ready home in Midway ISD offers a good condition with a good condition score of 80. It has a good kitchen, bathrooms, exterior, flooring, interior walls/paint, windows, foundation/structure, HVAC/mechanicals, and landscaping/curb appeal. The property is in good condition and ready for immediate occupancy.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters.
• Both Add a smart home system — A smart home system can increase the property's appeal and value by offering convenience and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/renters. ↑
• Both Add a smart home system — A smart home system can increase the property's appeal and value by offering convenience and energy efficiency. ↑

ⓘ 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: Midway ISD
• NCES district ID: 4830640
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $67,076
• Composite: 52.32/100
• National rank: #1593
• State rank: #56 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): 10,603
• Household income: $99,917
• Rent vs Own: 14.9% rent · 85.1% own
• Severe rent burden: 62.0

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: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 17% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Lithuanian 3% Slovak 3% Serbian 2%
• Foreign-born: 2% · Canada
• Languages at home: 93% English-only · Spanish 5% Arabic 2%

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: ▼ -105.10%
• Current HPI: 230.4333
• Rent YoY: —
• 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 event — show timeline

• 2026-06-05 Listed $315,000 NTREIS

Property tax history

+96.1%/yr

Latest (2025): $6,306 · -3.8% YoY. Source: county tax records.