2324 Oak Cliff Dr · Waco, TX 76710

$150,000

3 bd · 2.0 ba · 1,345 sqft · SingleFamily public records · 16 Days on market

Built 1958 0.42 ac lot Est $239k · 37% under

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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 +7.3/10.0
• 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

Behold the ultimate fixer upper right at 1,345 sft on . 42 in the Mountainview area! This is the perfect home for a complete renovation in a timeless area. See an extra large lot with mature trees in front and backyard. Close to grocery stores, restaurants, shopping, parks, lake waco and schools.

Key facts

• Close to parks
• Close to restaurants
• Extra large lot

Tags

• EXTRA LARGE LOT
• MATURE TREES
• CLOSE TO GROCERY STORES
• CLOSE TO RESTAURANTS
• CLOSE TO SHOPPING
• CLOSE TO PARKS

Property features AI

Finance

• Other: Lot less than 0.5 acre (approximately 0.422 acres); Subdivision: Lake Shore Hills; Directions: Get on Valley Mills, take a right on Bishop; County: McLennan, Country: United States
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Attached garage (1-car); Covered parking (1 space); Concrete parking
• Utilities: City water; City sewer; Individual gas meter; No municipal utility district
• Home design: Single family residence; Residential property; One story; No accessibility features indicated
• Construction: Built in 1958 (preowned); Brick, frame, and vinyl siding construction; Composition roof; Pillar/post/pier foundation
• Exterior features: Rear porch

Interior

• Kitchen: No appliances listed; Kitchen laundry area
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Flooring: Carpet; Linoleum; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (natural gas); Central air; Electric cooling; Ceiling fan(s)
• Interior features: Built-in features; One level
• Laundry & utility: Washer hookup; In-kitchen laundry hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/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: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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); 188 active listings in the ZIP; 9 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 38% 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 $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 16 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 57% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.57%
• DSCR: 1.38
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $239,410
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2232 Hermanson	0.13mi	3/2.0	1,416 (+5%)	1mo	$285,000	$201	84
2141 Hermanson Dr	0.22mi	3/2.0	1,438 (+7%)	0mo	$236,000	$164	78
2131 Mountainview Dr	0.29mi	3/2.0	1,442 (+7%)	1mo	$239,000	$166	73
2633 Skyline Dr	0.23mi	3/2.0	1,456 (+8%)	8mo	$315,000	$216	69
1831 Mountainview Dr	0.49mi	3/2.0	1,404 (+4%)	4mo	$254,000	$181	67
5601 Bishop Dr	0.46mi	3/1.0	1,412 (+5%)	2mo	$189,900	$134	64
5612 Fairview Dr	0.51mi	3/1.5	1,264 (-6%)	2mo	$225,000	$178	62
2125 Hermanson Dr	0.26mi	3/2.0	1,540 (+14%)	3mo	$242,000	$157	61
5517 Fairview Dr	0.54mi	3/2.0	1,440 (+7%)	8mo	$245,000	$170	56
2024 Meadow Rd	0.38mi	3/1.5	1,189 (-12%)	14mo	$199,900	$168	50
301 Village Cir	0.65mi	2/2.0 (-1)	1,528 (+14%)	1mo	$279,000	$183	41
100 Village Cir	0.62mi	2/2.0 (-1)	1,528 (+14%)	7mo	$295,000	$193	38

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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-6,186
• Equity at exit: $22,365

10-year hold

• IRR: 5.1%
• Equity multiple: 1.36×
• Total profit: $15,215
• Equity at exit: $12,969

Cash invested: $42,000 (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 76710

• Rents YoY: 2.4%
• Active inventory: 188
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,847 high
• Mortgage (P&I): −$787
• Tax from tax record: −$310 /mo · $3,722/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $300

Break-even live

Break-even rent $1,467

Max offer price $150,000

Occupancy floor 79%

Sensitivity live

Price	-10% $385	-5% $342	+0% $300	+5% $258	+10% $215
Rent	-10% $154	-5% $227	+0% $300	+5% $373	+10% $446
Rate	-1.0pp $376	-0.5pp $338	base $300	+0.5pp $261	+1.0pp $222

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2137 Lenamon St Waco, TX	3.0	2.0	1835	$2,350	$1.28	14d	1	0.17mi
5813 Fairview Dr Waco, TX	3.0	2.0	1319	$1,400	$1.06	44d	1	0.39mi
2324 N 50th St Waco, TX	3.0	2.0	1875	$3,300	$1.76	44d	1	0.83mi
5025 Loch Lomond Dr Waco, TX	3.0	2.0	1611	$1,850	$1.15	22d	1	0.93mi
6700 Old Briarstown Dr Waco, TX	2.0	2.0	1300	$1,295	$1.00	22d	1	1.38mi
901 Wooded Acres Dr Waco, TX	1.0–2.0	1.0–2.0	834	$1,340	$1.61	14d	9	1.39mi
6807 Alford Dr Waco, TX	3.0	2.5	1800	$1,495	$0.83	44d	1	1.41mi
901 Rambler Dr Waco, TX	3.0	2.0	1629	$1,795	$1.10	22d	1	1.42mi
2213 N 41st St Waco, TX	3.0	1.5	1299	$1,550	$1.19	14d	1	1.49mi

Listing history 12 events

1. 2026-06-21
   days on market $150,000 Active 16 DOM
2. 2026-06-18
   days on market $150,000 Active 13 DOM
3. 2026-06-17
   days on market $150,000 Active 12 DOM
4. 2026-06-16
   days on market $150,000 Active 11 DOM
5. 2026-06-15
   days on market $150,000 Active 10 DOM
6. 2026-06-14
   days on market $150,000 Active 8 DOM
7. 2026-06-13
   days on market $150,000 Active 7 DOM
8. 2026-06-10
   days on market $150,000 Active 5 DOM
9. 2026-06-09
   days on market $150,000 Active 4 DOM
10. 2026-06-08
    days on market $150,000 Active 3 DOM
11. 2026-06-07
    remarks 297-char remark
12. 2026-06-07
    listed $150,000 Active 2 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: $3,722 · $310/mo
• Projected year-2 tax: $3,722 · $310/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 6 d/yr ≥108°F today · 20 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: $22,167
• − Mortgage interest: −$8,402
• − Property taxes: −$3,722
• − Insurance: −$750
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − Depreciation: −$4,364
• Taxable income: $1,382
• Est. tax owed @ 24.0%: −$332
• After-tax cash flow: $3,268/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

2 events — show timeline

• 2026-06-04 Listed $150,000 NTREIS
• 2009-08-31 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $3,722 · +0.0% YoY. Source: county tax records.