2011 Pine Ave · Waco, TX 76708

$90,000

3 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 66 Days on market

Built 1948 10,019 sqft lot $84/sqft · 34% below area Est $137k · 34% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special in Waco! 3 Bedrooms, 1 Bathroom Opportunity knocks! This property is being sold as-is and is perfect for investors or buyers looking to add value. With a new roof and plenty of potential, this home is ready for your vision—whether you're planning a flip, rental, or renovation project. Don’t miss your chance to turn this property into something special Message me for more details or to schedule a showing.

Key facts

• New roof
• 0.23 acre lot
• Built 1948

Tags

• NEW ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 soft (-0.8%/yr); 376 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% 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 $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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 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: 1.64% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.42%
• DSCR: 1.95
• GRM: 5.1

CMA / ARV

• ARV (median comp): $136,746
• List price: $90,000
• Delta: -34.18%
• 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
1815 Maple Ave	0.35mi	2/1.0 (-1)	1,008 (-6%)	2mo	$155,000	$154	67
1217 Frost Ave	0.56mi	3/1.0	1,088 (+2%)	6mo	$190,000	$175	66
2119 Alexander Ave	0.40mi	2/1.0 (-1)	1,021 (-5%)	4mo	$134,500	$132	66
2019 Summer Ave	0.62mi	3/2.0	1,008 (-6%)	0mo	$169,000	$168	57
2307 Maple Ave	0.39mi	2/2.0 (-1)	1,000 (-6%)	8mo	$180,000	$180	55
2708 Proctor Ave	0.52mi	2/1.0 (-1)	976 (-9%)	2mo	$159,000	$163	55
1630 Mckenzie Ave	0.52mi	2/1.0 (-1)	1,180 (+10%)	2mo	$119,000	$101	52
2319 Parrot	0.59mi	2/2.0 (-1)	1,152 (+8%)	0mo	$75,000	$65	50
2809 Alexander Ave	0.74mi	2/1.0 (-1)	1,120 (+5%)	4mo	$165,000	$147	49
2100 Mcferrin Ave Unit A AND B	0.67mi	4/4.0 (+1)	1,057 (-1%)	3mo	$385,000	$364	47
2724 Mckenzie Ave	0.72mi	2/1.0 (-1)	950 (-11%)	3mo	$105,000	$111	40
2620 Lasker Ave	0.70mi	2/2.0 (-1)	1,200 (+12%)	4mo	$220,000	$183	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.39×
• Total profit: $9,825
• Equity at exit: $13,419

10-year hold

• IRR: 16.5%
• Equity multiple: 2.15×
• Total profit: $29,066
• Equity at exit: $7,782

Cash invested: $25,200 (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 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 376
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,475 high
• Mortgage (P&I): −$472
• Tax from tax record: −$206 /mo · $2,473/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $450

Break-even live

Break-even rent $906

Max offer price $90,000

Occupancy floor 65%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Windsor Ave Waco, TX	4.0	2.5	1450	$1,800	$1.24	43d	1	0.20mi
1920 Windsor Ave Waco, TX	3.0	1.0	1216	$1,200	$0.99	43d	1	0.21mi
1818 Windsor Ave Waco, TX	4.0	2.0	1112	$1,625	$1.46	21d	1	0.24mi
2121 Lyle Ave Waco, TX	2.0	1.0	1080	$1,000	$0.93	13d	1	0.25mi
2225 Windsor Ave Waco, TX	2.0	1.0	840	$1,100	$1.31	43d	1	0.27mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	13d	1	0.27mi
2224 Cumberland Ave Waco, TX	2.0	1.0	768	$1,075	$1.40	43d	1	0.35mi
2313 Mitchell Ave Waco, TX	2.0	1.0	804	$1,150	$1.43	21d	1	0.40mi
2504 Lyle Ave Waco, TX	3.0	2.0	1028	$1,475	$1.43	21d	1	0.44mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	13d	1	0.46mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	43d	1	0.46mi
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	21d	1	0.46mi
2601 Herring Ave Unit 1 Waco, TX	3.0	1.0	989	$1,295	$1.31	43d	1	0.48mi
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	43d	1	0.50mi
2621 Windsor Ave Waco, TX	2.0	1.0	1108	$1,175	$1.06	21d	1	0.51mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	21d	1	0.53mi
2408 McKenzie Ave Unit A Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	0.54mi
2704 Herring Ave Waco, TX	2.0	2.0	1286	$1,750	$1.36	21d	1	0.55mi
2401 McKenzie Ave Waco, TX	3.0	1.5	1288	$1,300	$1.01	21d	1	0.55mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	21d	1	0.59mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	0.59mi
2400 Reuter Ave Waco, TX	4.0	2.0	1426	$1,650	$1.16	21d	1	0.59mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	43d	1	0.59mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	43d	1	0.60mi
2712 Mitchell Ave Waco, TX	3.0	1.0	1120	$1,300	$1.16	21d	1	0.61mi
2600 McKenzie Ave Waco, TX	3.0	1.0	1096	$1,395	$1.27	21d	1	0.63mi
712 Proctor Ave Waco, TX	4.0	2.0	1184	$1,450	$1.22	21d	1	0.68mi
2717 Alexander Ave Waco, TX	2.0	2.0	1200	$2,000	$1.67	21d	1	0.68mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	43d	1	0.69mi
2805 Mitchell Ave Waco, TX	2.0	1.0	1024	$1,145	$1.12	13d	1	0.72mi
1216 Tennessee Ave Unit B Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	0.75mi
1216 Tennessee Ave Waco, TX	3.0	2.0	872	$1,250	$1.43	21d	1	0.75mi
1614 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$925	$1.10	13d	1	0.79mi
1611 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$985	$1.18	13d	1	0.81mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	43d	1	0.86mi
718 Garland Ave Unit b Waco, TX	3.0	1.0	838	$985	$1.18	13d	1	0.86mi
1606 N 9th St Waco, TX	4.0	2.0	1392	$1,525	$1.10	21d	1	0.91mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	21d	1	0.94mi
2705 Bosque Blvd Waco, TX	3.0	2.0	1028	$1,599	$1.56	43d	1	1.04mi
3400 Adeline Dr Waco, TX	2.0	1.0	1232	$1,150	$0.93	43d	1	1.08mi

Listing history 19 events

1. 2026-06-18
   days on market $90,000 Active 66 DOM
2. 2026-06-17
   days on market $90,000 Active 65 DOM
3. 2026-06-16
   days on market $90,000 Active 64 DOM
4. 2026-06-15
   days on market $90,000 Active 63 DOM
5. 2026-06-14
   days on market $90,000 Active 61 DOM
6. 2026-06-13
   days on market $90,000 Active 60 DOM
7. 2026-06-10
   days on market $90,000 Active 58 DOM
8. 2026-06-09
   days on market $90,000 Active 57 DOM
9. 2026-06-08
   days on market $90,000 Active 56 DOM
10. 2026-06-07
    days on market $90,000 Active 55 DOM
11. 2026-06-05
    days on market $90,000 Active 52 DOM
12. 2026-06-03
    days on market $90,000 Active 51 DOM
13. 2026-06-03
    price $90,000 Active 50 DOM
14. 2026-06-02
    days on market $100,000 Active 50 DOM
15. 2026-06-01
    days on market $100,000 Active 49 DOM
16. 2026-05-31
    days on market $100,000 Active 48 DOM
17. 2026-05-30
    days on market $100,000 Active 47 DOM
18. 2026-04-13
    listed $100,000 Active 440-char remark

    Show marketing remark (440 chars)

    Investor Special in Waco! 3 Bedrooms, 1 Bathroom Opportunity knocks! This property is being sold as-is and is perfect for investors or buyers looking to add value. With a new roof and plenty of potential, this home is ready for your vision—whether you're planning a flip, rental, or renovation project. Don’t miss your chance to turn this property into something special Message me for more details or to schedule a showing.

19. 1998-11-02
    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: $2,473 · $206/mo
• Projected year-2 tax: $2,473 · $206/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 ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $17,703
• − Mortgage interest: −$5,041
• − Property taxes: −$2,473
• − Insurance: −$450
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$2,618
• Taxable income: $4,288
• Est. tax owed @ 24.0%: −$1,029
• After-tax cash flow: $4,369/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): 27,790
• Household income: $68,856
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 583.0

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 0.63)
• Race & ethnicity: White 50% Hispanic / Latino 31% Two or more races 20% Black 13% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 21% Other Asian/Pacific 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: ▼ -78.80%
• Current HPI: 218.9643
• Rent YoY: ▼ -0.80%
• 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

• 2026-04-13 Listed $100,000 NTREIS
• 1998-11-02 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,473 · +15.4% YoY. Source: county tax records.