1118 Kane St · Bellmead, TX 76705

$139,000

4 bd · 1.0 ba · 1,914 sqft · SingleFamily public records · 248 Days on market

Built 1948 0.37 ac lot $73/sqft · 38% below area Est $224k · 38% under ↓ 18% since listing

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Why this score? — see what drove the B- 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +7.4/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you’ve been dreaming of a place you can truly make your own, this Waco home is full of possibility and ready for its next chapter. Set on a rare double lot, this single-story 3-bedroom, 2-bath home has the kind of space, character, and layout that invites creativity and vision. Inside, you’ll find a large living area with original hardwood floors—real wood, full of warmth and history—just waiting to shine again with a little love. The primary bedroom is privately tucked away and surprisingly spacious, making it easy to imagine a cozy retreat with room to unwind. The backyard is where this property really surprises you. Because it sits on two lots, you get an unusually large outdoor space with endless potential: a garden, a play area, an outdoor living space, or even future expansion. Plus, the attached workshop gives you a place to dive into projects, store tools, or create the hobby space you’ve always wanted. With a covered carport, additional storage, and a location minutes from schools, shopping, and downtown Waco, this home offers convenience along with opportunity. Whether you're an investor searching for your next renovation or a homeowner eager to design something uniquely yours, this property is the perfect blank canvas—ready to be brought back to life and loved again.

Key facts

• Large living area
• Spacious backyard
• Attached workshop

Tags

• LARGE LIVING AREA
• HARDWOOD FLOORS
• DOUBLE LOT
• SPACIOUS BACKYARD
• ATTACHED WORKSHOP
• COVERED CARPORT

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 5.1% in Bellmead — 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 63/100 on livability (#893 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• La Vega ISD (suburban): math 24% / reading 32% proficiency, ranked #680 of 826 in TX (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: La Vega El (math 14% / reading 31%, grade F, #3,311 of 4,322 statewide, top 77%, 659 students, 94% FRL); La Vega Int H P Miles Campus (math 31% / reading 28%, grade F, #1,077 of 1,662 statewide, top 66%, 592 students, 93% FRL); La Vega H S (math 23% / reading 35%, grade F, #1,147 of 1,632 statewide, top 71%, 882 students, 90% FRL).
• Market conditions: Rents rising (+2.2%/yr); 299 active listings in the ZIP; 6 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).
• This rent runs 36% 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 $961 of loan paydown is wiped out by about $4k 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 248 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1948 — 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 $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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 F-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 F 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: 1.24% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.53%
• DSCR: 1.38
• GRM: 6.7

CMA / ARV

• ARV (median comp): $224,411
• List price: $139,000
• Delta: -38.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1025 Kane St	0.11mi	3/2.0 (-1)	1,749 (-9%)	8mo	$279,900	$160	65
1205 Ashleman St	0.14mi	3/2.0 (-1)	1,643 (-14%)	1mo	$175,000	$107	60
1305 Fisher St	0.41mi	3/2.0 (-1)	1,776 (-7%)	6mo	$264,900	$149	55
1318 Fisher St	0.46mi	3/2.0 (-1)	1,842 (-4%)	10mo	$225,000	$122	54
1127 La Vega St	0.24mi	3/2.0 (-1)	1,666 (-13%)	11mo	$199,000	$119	49
1212 Campbelton St	0.50mi	4/2.0	2,122 (+11%)	9mo	$215,000	$101	47
1305 Crestline St	0.30mi	3/2.0 (-1)	1,714 (-10%)	19mo	$209,000	$122	44
208 Woodlands Blvd	0.71mi	4/2.0	1,641 (-14%)	11mo	$285,000	$174	30
224 Woodlands Blvd	0.74mi	4/2.0	1,637 (-14%)	21mo	$259,900	$159	19

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 · 2.2% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,177
• Equity at exit: $20,725

10-year hold

• IRR: 4.4%
• Equity multiple: 1.31×
• Total profit: $12,165
• Equity at exit: $12,018

Cash invested: $38,920 (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 76705

• Home prices YoY: -29.6%
• Rents YoY: 2.2%
• Active inventory: 299
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,729 high
• Mortgage (P&I): −$729
• Tax from tax record: −$303 /mo · $3,632/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $277

Break-even live

Break-even rent $1,379

Max offer price $139,000

Occupancy floor 79%

Sensitivity live

Price	-10% $355	-5% $316	+0% $277	+5% $237	+10% $198
Rent	-10% $140	-5% $208	+0% $277	+5% $345	+10% $413
Rate	-1.0pp $347	-0.5pp $312	base $277	+0.5pp $241	+1.0pp $204

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1011 Kane St Waco, TX	3.0	2.0	1228	$1,695	$1.38	45d	1	0.16mi
1009 Victoria St Waco, TX	3.0	1.5	1728	$1,250	$0.72	22d	1	1.11mi
402 Holmes St Waco, TX	3.0	1.0	1328	$1,500	$1.13	15d	1	1.14mi
3921 S Fork Ranch Rd Waco, TX	3.0	2.0	1702	$1,950	$1.15	45d	1	1.43mi
3925 S Fork Ranch Rd Waco, TX	3.0	2.0	1239	$1,995	$1.61	15d	1	1.43mi
1319 Tabor St Waco, TX	3.0	1.5	1234	$1,700	$1.38	15d	1	1.47mi

Listing history 18 events

1. 2026-06-22
   days on market $139,000 Active 248 DOM
2. 2026-06-18
   days on market $139,000 Active 245 DOM
3. 2026-06-17
   days on market $139,000 Active 244 DOM
4. 2026-06-16
   days on market $139,000 Active 243 DOM
5. 2026-06-15
   days on market $139,000 Active 242 DOM
6. 2026-06-14
   days on market $139,000 Active 240 DOM
7. 2026-06-13
   days on market $139,000 Active 239 DOM
8. 2026-06-10
   days on market $139,000 Active 237 DOM
9. 2026-06-09
   days on market $139,000 Active 236 DOM
10. 2026-06-08
    days on market $139,000 Active 235 DOM
11. 2026-06-07
    days on market $139,000 Active 234 DOM
12. 2026-06-02
    days on market $139,000 Active 229 DOM
13. 2026-06-01
    days on market $139,000 Active 228 DOM
14. 2026-05-31
    days on market $139,000 Active 227 DOM
15. 2026-05-30
    days on market $139,000 Active 226 DOM
16. 2026-03-27
    price $139,000 1342-char remark

    Show marketing remark (1342 chars)

    If you’ve been dreaming of a place you can truly make your own, this Waco home is full of possibility and ready for its next chapter. Set on a rare double lot, this single-story 3-bedroom, 2-bath home has the kind of space, character, and layout that invites creativity and vision. Inside, you’ll find a large living area with original hardwood floors—real wood, full of warmth and history—just waiting to shine again with a little love. The primary bedroom is privately tucked away and surprisingly spacious, making it easy to imagine a cozy retreat with room to unwind. The backyard is where this property really surprises you. Because it sits on two lots, you get an unusually large outdoor space with endless potential: a garden, a play area, an outdoor living space, or even future expansion. Plus, the attached workshop gives you a place to dive into projects, store tools, or create the hobby space you’ve always wanted. With a covered carport, additional storage, and a location minutes from schools, shopping, and downtown Waco, this home offers convenience along with opportunity. Whether you're an investor searching for your next renovation or a homeowner eager to design something uniquely yours, this property is the perfect blank canvas—ready to be brought back to life and loved again.

17. 2025-12-05
    price $159,000 1342-char remark

    Show marketing remark (1342 chars)

    If you’ve been dreaming of a place you can truly make your own, this Waco home is full of possibility and ready for its next chapter. Set on a rare double lot, this single-story 3-bedroom, 2-bath home has the kind of space, character, and layout that invites creativity and vision. Inside, you’ll find a large living area with original hardwood floors—real wood, full of warmth and history—just waiting to shine again with a little love. The primary bedroom is privately tucked away and surprisingly spacious, making it easy to imagine a cozy retreat with room to unwind. The backyard is where this property really surprises you. Because it sits on two lots, you get an unusually large outdoor space with endless potential: a garden, a play area, an outdoor living space, or even future expansion. Plus, the attached workshop gives you a place to dive into projects, store tools, or create the hobby space you’ve always wanted. With a covered carport, additional storage, and a location minutes from schools, shopping, and downtown Waco, this home offers convenience along with opportunity. Whether you're an investor searching for your next renovation or a homeowner eager to design something uniquely yours, this property is the perfect blank canvas—ready to be brought back to life and loved again.

18. 2025-10-16
    listed $169,000 Active 1342-char remark

    Show marketing remark (1342 chars)

    If you’ve been dreaming of a place you can truly make your own, this Waco home is full of possibility and ready for its next chapter. Set on a rare double lot, this single-story 3-bedroom, 2-bath home has the kind of space, character, and layout that invites creativity and vision. Inside, you’ll find a large living area with original hardwood floors—real wood, full of warmth and history—just waiting to shine again with a little love. The primary bedroom is privately tucked away and surprisingly spacious, making it easy to imagine a cozy retreat with room to unwind. The backyard is where this property really surprises you. Because it sits on two lots, you get an unusually large outdoor space with endless potential: a garden, a play area, an outdoor living space, or even future expansion. Plus, the attached workshop gives you a place to dive into projects, store tools, or create the hobby space you’ve always wanted. With a covered carport, additional storage, and a location minutes from schools, shopping, and downtown Waco, this home offers convenience along with opportunity. Whether you're an investor searching for your next renovation or a homeowner eager to design something uniquely yours, this property is the perfect blank canvas—ready to be brought back to life and loved again.

ⓘ 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: $3,632 · $303/mo
• Projected year-2 tax: $3,632 · $303/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 4/10 Moderate
• 🌡 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: $20,752
• − Mortgage interest: −$7,786
• − Property taxes: −$3,632
• − Insurance: −$695
• − Repairs & maintenance: −$1,660
• − Management: −$1,660
• − Depreciation: −$4,044
• Taxable income: $1,275
• Est. tax owed @ 24.0%: −$306
• After-tax cash flow: $3,014/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: La Vega ISD
• NCES district ID: 4826280
• Math proficiency: 24% ▼ -13.00%
• Reading proficiency: 32% ▼ -4.00%
• Median HH income: $38,539
• Composite: 23.42/100
• National rank: #7892
• State rank: #680 of 826 in TX

Livability — Bellmead

• Score: 63/100
• State rank: #893
• US rank: #16031

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety F User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellmead, TX
• County: McLennan County · 213,088 people
• City population: 31,750
• Metro: Waco, TX
• Population (ZIP): 31,616
• Household income: $58,236
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 668.0

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 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 32% Two or more races 20% Black 18% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1% 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: ▼ -91.45%
• Current HPI: 217.9429
• Rent YoY: ▲ 2.20%
• 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

-17.8% since first listed

3 events — show timeline

• 2026-03-27 Price Changed $139,000 NTREIS
• 2025-12-05 Price Changed $159,000 NTREIS
• 2025-10-16 Listed $169,000 NTREIS

Property tax history

+5.0%/yr

Latest (2025): $3,632 · +2.6% YoY. Source: county tax records.