2131 Hermanson Dr · Waco, TX 76710

$162,500

3 bd · 2.0 ba · 1,606 sqft · SingleFamily public records · 97 Days on market

Built 1957 9,801 sqft lot Est $267k · 39% under ↓ 35% since listing

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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 +18.7/30.0
• ARV discount +15.0/15.0
• 1% rule +6.5/10.0
• DSCR +5.9/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

Key facts

• Covered patio
• Sizeable kitchen
• Fenced backyard

Tags

• TWO GENEROUS LIVING AREAS
• SIZEABLE KITCHEN
• COVERED PATIO
• FENCED BACKYARD
• DURABLE BRICK EXTERIOR
• PEACEFUL NEIGHBORHOOD VIBE

Property features AI

Finance

• Financial info: Listing is real estate owned (REO)
• HOA & community: No homeowners association

Exterior

• Parking: Covered parking for 2 vehicles; 2-car garage (garage faces front)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1957
• Exterior features: Lot under 0.5 acre (about 0.225 acre); Subdivision: Campbells Re Sub; Directions: Lake Shore Dr or Valley Mills Dr, turn on Hermanson; property on right

Interior

• Kitchen: Dishwasher
• Bedrooms: 3 bedrooms; Primary bedroom on main level
• Bathrooms: 2 full bathrooms
• Interior features: High-speed internet available; One living area; One dining area; 2 total bathrooms; Room count: 2

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $162k.

Deal economics

• At list price, monthly cash flow is $162 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Recommended offer: $148k (9.0% 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: 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: Mountainview El (math 12% / reading 27%, grade F, #3,583 of 4,322 statewide, top 86%, 402 students, 78% FRL) — zoned schools at 78% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 186 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 39% of the median local income ($58k/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 $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 97 days — a 9% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% 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 $147,875 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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 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: 1.15% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $266,596
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2200 Hermanson Dr	0.06mi	3/2.0	1,612 (+0%)	2mo	$225,680	$140	95
2125 Hermanson Dr	0.02mi	3/2.0	1,540 (-4%)	3mo	$242,000	$157	90
2025 Lenamon St	0.17mi	3/2.0	1,672 (+4%)	0mo	$285,000	$170	85
2141 Hermanson Dr	0.03mi	3/2.0	1,438 (-10%)	0mo	$236,000	$164	81
2212 Charboneau St	0.14mi	3/2.0	1,742 (+8%)	2mo	$284,900	$164	77
6224 Summit Ridge Dr	0.44mi	3/2.0	1,581 (-2%)	2mo	$267,500	$169	75
2232 Hermanson	0.12mi	3/2.0	1,416 (-12%)	1mo	$285,000	$201	74
2306 Oak Cliff Dr	0.21mi	3/2.0	1,773 (+10%)	1mo	$315,000	$178	72
2131 Mountainview Dr	0.31mi	3/2.0	1,442 (-10%)	1mo	$239,000	$166	68
301 Village Cir	0.41mi	2/2.0 (-1)	1,528 (-5%)	1mo	$279,000	$183	67
1700 Rambler Dr	0.53mi	3/2.0	1,753 (+9%)	2mo	$265,000	$151	58
5601 Bishop Dr	0.52mi	3/1.0	1,412 (-12%)	2mo	$189,900	$134	50

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -10.3%
• Equity multiple: 0.63×
• Total profit: $-16,965
• Equity at exit: $24,229

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-5,360
• Equity at exit: $14,050

Cash invested: $45,500 (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 76710

• Rents YoY: 2.4%
• Active inventory: 186
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,869 high
• Mortgage (P&I): −$852
• Tax from tax record: −$395 /mo · $4,739/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $162

Break-even live

Break-even rent $1,664

Max offer price $162,500

Occupancy floor 86%

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: $40,625
• Closing costs: $4,875
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2137 Lenamon St Waco, TX	3.0	2.0	1835	$2,350	$1.28	13d	1	0.24mi
5813 Fairview Dr Waco, TX	3.0	2.0	1319	$1,400	$1.06	43d	1	0.34mi
5025 Loch Lomond Dr Waco, TX	3.0	2.0	1611	$1,850	$1.15	21d	1	0.91mi
2324 N 50th St Waco, TX	3.0	2.0	1875	$3,300	$1.76	43d	1	0.96mi
6700 Old Briarstown Dr Waco, TX	2.0	2.0	1300	$1,295	$1.00	21d	1	1.10mi
6807 Alford Dr Waco, TX	3.0	2.5	1800	$1,495	$0.83	43d	1	1.13mi
901 Rambler Dr Waco, TX	3.0	2.0	1629	$1,795	$1.10	21d	1	1.13mi
7301 Sanger Ave Waco, TX	1.0–2.0	1.0–2.0	800	$1,285	$1.61	21d	7	1.32mi
549 N 62nd St Waco, TX	4.0	2.0	1690	$1,995	$1.18	43d	1	1.35mi
1125 Wedgewood Dr Woodway, TX	4.0	2.0	2246	$2,195	$0.98	43d	1	1.36mi
6608 Wiethorn Dr Waco, TX	2.0	1.0	1220	$1,195	$0.98	21d	1	1.40mi
736 Grice St Waco, TX	3.0	2.0	1125	$1,750	$1.56	43d	1	1.41mi
701 Topeka Dr Woodway, TX	3.0	2.0	1781	$2,300	$1.29	13d	1	1.46mi

Listing history 14 events

1. 2026-05-02
   status Pending
2. 2026-03-27
   price $162,500
3. 2026-02-28
   price $172,500
4. 2026-01-25
   listed $182,500 Active
5. 2022-08-04
   soldstatus
6. 2022-08-03
   soldstatus Closed 154-char remark

   Show marketing remark (154 chars)

   Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

7. 2022-08-03
   soldstatus 154-char remark

   Show marketing remark (154 chars)

   Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

8. 2022-07-11
   status Pending 154-char remark

   Show marketing remark (154 chars)

   Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

9. 2022-07-06
   historical Active Option Contract 154-char remark

   Show marketing remark (154 chars)

   Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

10. 2022-05-25
    price $250,000 154-char remark

    Show marketing remark (154 chars)

    Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

11. 2022-05-19
    listed $259,900 Active 154-char remark

    Show marketing remark (154 chars)

    Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

12. 2022-03-25
    listed $250,000 154-char remark

    Show marketing remark (154 chars)

    Welcome to this 3 bedroom, 2 bathroom home in the Mountain View District. This property offers plenty of space inside and out, come view this cutie today!

13. 2005-03-03
    soldstatus
14. 1999-05-28
    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: $4,739 · $395/mo
• Projected year-2 tax: $4,739 · $395/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 ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 57% 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: $22,434
• − Mortgage interest: −$9,103
• − Property taxes: −$4,739
• − Insurance: −$812
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$4,727
• Taxable loss: −$537
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $2,074/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): 23,329
• Household income: $58,186
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1202.0

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 0.60)
• Race & ethnicity: White 55% Hispanic / Latino 26% Two or more races 19% Black 15%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 84% English-only · Spanish 14% German/W. Germanic 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: ▼ -147.65%
• Current HPI: 227.2988
• Rent YoY: ▲ 2.41%
• 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

-35.0% since first listed

14 events — show timeline

• 2026-05-02 Pending — NTREIS
• 2026-03-27 Price Changed $162,500 NTREIS
• 2026-02-28 Price Changed $172,500 NTREIS
• 2026-01-25 Listed $182,500 NTREIS
• 2022-08-04 Sold (Public Records) — Public Records
• 2022-08-03 Sold (MLS) — NTREIS
• 2022-08-03 Sold (MLS) — NTREIS
• 2022-07-11 Pending — NTREIS
• 2022-07-06 Contingent — NTREIS
• 2022-05-25 Price Changed $250,000 NTREIS
• 2022-05-19 Listed $259,900 NTREIS
• 2022-03-25 Listed $250,000 NTREIS
• 2005-03-03 Sold (Public Records) — Public Records
• 1999-05-28 Sold (Public Records) — Public Records

Property tax history

+6.6%/yr

Latest (2025): $4,739 · +0.1% YoY. Source: county tax records.