2709 Speight Ave · Waco, TX 76711

$149,900

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 58 Days on market

Built 1950 8,973 sqft lot $104/sqft · 12% below area Est $171k · 12% under

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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 +19.0/30.0
• ARV discount +13.0/15.0
• Appreciation +6.8/10.0
• DSCR +6.0/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Welcome to this charming home ideally located near local restaurants, grocery stores, and with easy access to the highway. This 3-bedroom, 1-bathroom property offers 1,448 square feet of comfortable living space with plenty of potential. Inside, you’ll find a functional layout featuring two dining areas—perfect for gatherings, entertaining, or creating a flexible space to fit your lifestyle. Appliances and furniture will convey, making your move-in process even more convenient. Outside, the property features a spacious carport that can accommodate up to four vehicles, along with an additional garage for extra storage or workspace. The backyard is fully enclosed with a wooden privacy fence, providing a great space for relaxing or entertaining. This home does need some TLC, but with a little vision and care, it can truly shine. Whether you're looking for a place to call home or an investment opportunity, this property is full of possibilities!

Key facts

• Two dining areas
• Wooden privacy fence
• Spacious carport

Tags

• EASY ACCESS TO HIGHWAY
• TWO DINING AREAS
• SPACIOUS CARPORT
• FULLY ENCLOSED BACKYARD
• WOODEN PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $157 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: schools D, crime D, commute F.
• 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.
• Market conditions: Rents rising (+2.6%/yr); 43 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 36% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (3.6% local appreciation)).
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.6% appreciation + 2.6% rent growth), your $42k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.06% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.48%
• DSCR: 1.20
• GRM: 7.9

CMA / ARV

• ARV (median comp): $170,646
• List price: $149,900
• Delta: -12.16%
• 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
2329 Connor Ave	0.31mi	3/2.0	1,368 (-6%)	1mo	$169,500	$124	72
1709 Nelva St	0.40mi	3/2.0	1,513 (+4%)	6mo	$225,000	$149	66
2300 Gurley Ave	0.39mi	3/2.0	1,296 (-10%)	1mo	$239,900	$185	60
3400 Daughtrey Ave	0.63mi	3/2.0	1,448 (0%)	9mo	$254,900	$176	60
3501 Bagby Ave	0.64mi	3/2.0	1,351 (-7%)	1mo	$204,000	$151	54
3205 Belmont Dr	0.50mi	3/1.0	1,344 (-7%)	13mo	$219,900	$164	54
3401 James Ave	0.56mi	3/2.5	1,536 (+6%)	8mo	$249,000	$162	51
1105 S 27th St	0.30mi	3/2.0	1,239 (-14%)	13mo	$254,900	$206	47
1813 S 19th St	0.65mi	3/1.0	1,246 (-14%)	1mo	$175,000	$140	46
2215 Connor Ave	0.41mi	3/2.0	1,280 (-12%)	14mo	$260,000	$203	46
3119 Willowbrook St	0.74mi	2/1.0 (-1)	1,514 (+5%)	14mo	$150,000	$99	41
2016 Connor Ave	0.54mi	2/2.0 (-1)	1,265 (-13%)	11mo	$210,000	$166	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.57% appreciation · 2.62% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.76×
• Total profit: $32,035
• Equity at exit: $72,227

10-year hold

• IRR: 14.4%
• Equity multiple: 3.24×
• Total profit: $93,835
• Equity at exit: $115,218

Cash invested: $41,972 (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 76711

• Home prices YoY: 1.4%
• Rents YoY: 2.6%
• Active inventory: 43
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$786
• Tax from tax record: −$250 /mo · $2,996/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $157

Break-even live

Break-even rent $1,390

Max offer price $149,900

Occupancy floor 85%

Sensitivity live

Price	-10% $242	-5% $199	+0% $157	+5% $114	+10% $72
Rent	-10% $31	-5% $94	+0% $157	+5% $220	+10% $282
Rate	-1.0pp $232	-0.5pp $195	base $157	+0.5pp $118	+1.0pp $78

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 Flint Ave Waco, TX	3.0	2.0	1356	$1,720	$1.27	44d	1	0.40mi
3200 Belmont Dr Unit 3228 Waco, TX	2.0	2.0	995	$1,500	$1.51	14d	1	0.53mi
2021 Gurley Ave Waco, TX	3.0	2.0	1320	$1,500	$1.14	22d	1	0.56mi
1914 Ross Ave Waco, TX	3.0	1.0	1316	$1,495	$1.14	22d	1	0.81mi
1925 S 17th St Unit 1 Waco, TX	4.0	4.0	1856	$2,100	$1.13	22d	1	0.83mi
700 S Valley Mills Dr Waco, TX	1.0–2.0	1.0–1.5	850	$995	$1.17	14d	2	0.83mi
1800 Primrose Dr Waco, TX	1.0–4.0	1.0–2.0	942	$1,133	$1.20	14d	33	0.98mi
3812 Hiland Dr Waco, TX	3.0	1.0	1124	$995	$0.89	14d	1	1.00mi
1912 S 15th St Unit A Waco, TX	4.0	2.0	1400	$1,850	$1.32	22d	1	1.01mi
1916 S 15th St Waco, TX	4.0	4.0	1744	$1,800	$1.03	14d	1	1.02mi
1916 S 15th St Unit A Waco, TX	4.0	4.0	1744	$1,800	$1.03	22d	1	1.02mi
1342 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	14d	1	1.03mi
1905 S 14th St Unit B Waco, TX	4.0	4.0	1200	$550	$0.46	22d	1	1.03mi
1905 S 14th St Waco, TX	4.0	4.0	1500	$3,000	$2.00	22d	1	1.03mi
1909 S 14th St Unit B Waco, TX	4.0	4.0	1680	$1,650	$0.98	44d	1	1.04mi
1909 S 14th St Waco, TX	4.0	4.0	1680	$1,600	$0.95	22d	1	1.04mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	14d	1	1.05mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	22d	1	1.05mi
1311 Speight Ave Waco, TX	2.0	2.5	1143	$1,195	$1.05	14d	1	1.07mi
2900 Austin Ave Waco, TX	2.0	2.0	1176	$1,195	$1.02	44d	1	1.07mi
1311 Speight Ave #1311 Waco, TX	2.0	2.5	1143	$1,500	$1.31	22d	1	1.07mi
4009 James Ave Waco, TX	3.0	1.0	1056	$1,495	$1.42	22d	1	1.08mi
3447 Pewitt Dr Waco, TX	2.0	1.0	907	$1,350	$1.49	14d	1	1.09mi
3430 Pewitt Dr Waco, TX	2.0	1.0	916	$1,150	$1.26	44d	1	1.12mi
3411 Pewitt Dr #3413 Waco, TX	2.0	1.0	1000	$1,350	$1.35	22d	1	1.13mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,350	$1.32	22d	2	1.13mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,337	$1.31	14d	2	1.13mi
3743 Vista Cove Dr Waco, TX	3.0	2.0	1509	$1,850	$1.23	22d	1	1.14mi
1421 S 12th St Waco, TX	2.0	2.0	928	$985	$1.06	14d	3	1.14mi
2300 Washington Ave Waco, TX	3.0	1.0	1232	$1,650	$1.34	14d	1	1.18mi
4000 Acree St Waco, TX	3.0	1.5	984	$1,295	$1.32	22d	1	1.19mi
1348 S 12th St Waco, TX	2.0	2.0	958	$1,300	$1.36	22d	1	1.21mi
1628 Ewing Ave Waco, TX	3.0	2.0	1472	$2,400	$1.63	14d	1	1.23mi
1923 Austin Ave Unit 5202 Waco, TX	2.0	2.5	1265	$1,395	$1.10	22d	1	1.24mi
1300 S 11th St Waco, TX	2.0	2.5	1083	$1,209	$1.12	14d	14	1.29mi
3300 Wynmore Dr Waco, TX	3.0	2.0	1678	$1,850	$1.10	44d	1	1.32mi
3300 Wynmore Dr Waco, TX	3.0	2.0	1678	$1,850	$1.10	22d	1	1.32mi
415 N 23rd St Waco, TX	3.0	2.0	1680	$2,000	$1.19	22d	1	1.40mi
2601 Fort Ave Unit 4 Waco, TX	2.0	1.0	1000	$990	$0.99	44d	1	1.45mi
608 N 23rd St Waco, TX	3.0	1.0	1361	$1,695	$1.25	22d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $149,900 Active 58 DOM
2. 2026-06-17
   days on market $149,900 Active 57 DOM
3. 2026-06-16
   days on market $149,900 Active 56 DOM
4. 2026-06-15
   days on market $149,900 Active 55 DOM
5. 2026-06-14
   days on market $149,900 Active 53 DOM
6. 2026-06-13
   days on market $149,900 Active 52 DOM
7. 2026-06-10
   days on market $149,900 Active 50 DOM
8. 2026-06-09
   days on market $149,900 Active 49 DOM
9. 2026-06-08
   days on market $149,900 Active 48 DOM
10. 2026-06-07
    days on market $149,900 Active 47 DOM
11. 2026-06-05
    days on market $149,900 Active 44 DOM
12. 2026-06-03
    days on market $149,900 Active 43 DOM
13. 2026-06-02
    days on market $149,900 Active 42 DOM
14. 2026-06-01
    days on market $149,900 Active 41 DOM
15. 2026-05-31
    days on market $149,900 Active 40 DOM
16. 2026-05-30
    days on market $149,900 Active 39 DOM
17. 2026-04-21
    listed $149,900 Active 974-char remark

    Show marketing remark (974 chars)

    Welcome to this charming home ideally located near local restaurants, grocery stores, and with easy access to the highway. This 3-bedroom, 1-bathroom property offers 1,448 square feet of comfortable living space with plenty of potential. Inside, you’ll find a functional layout featuring two dining areas—perfect for gatherings, entertaining, or creating a flexible space to fit your lifestyle. Appliances and furniture will convey, making your move-in process even more convenient. Outside, the property features a spacious carport that can accommodate up to four vehicles, along with an additional garage for extra storage or workspace. The backyard is fully enclosed with a wooden privacy fence, providing a great space for relaxing or entertaining. This home does need some TLC, but with a little vision and care, it can truly shine. Whether you're looking for a place to call home or an investment opportunity, this property is full of possibilities!

18. 2010-03-09
    soldstatus
19. 2003-01-21
    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: $2,996 · $250/mo
• Projected year-2 tax: $2,996 · $250/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $19,063
• − Mortgage interest: −$8,397
• − Property taxes: −$2,996
• − Insurance: −$750
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$4,361
• Taxable loss: −$490
• Est. tax savings @ 24.0%: +$118
• After-tax cash flow: $1,999/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): 9,676
• Household income: $53,185
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 424.0

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 0.56)
• Race & ethnicity: Hispanic / Latino 61% Two or more races 43% White 23% Black 12% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 56%
• Common ancestry: Lithuanian 1% Italian 1% Portuguese 1%
• Foreign-born: 27% · Canada, China
• Languages at home: 53% English-only · Spanish 45% Tagalog/Filipino 1% 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: ▲ 3.57%
• Current HPI: 261.7166
• Rent YoY: ▲ 2.62%
• 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

3 events — show timeline

• 2026-04-21 Listed $149,900 NTREIS
• 2010-03-09 Sold (Public Records) — Public Records
• 2003-01-21 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,996 · +9.6% YoY. Source: county tax records.