726 Gaywood Dr · Woodway, TX 76712

$199,900

4 bd · 2.5 ba · 2,434 sqft · SingleFamily public records · 60 Days on market

Built 1961 0.40 ac lot Est $365k · 45% under ↓ 6% 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 +19.2/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +6.1/10.0
• Schools +5.2/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

THE LOWEST PRICE HOME IN WOODWAY offers a great opportunity for those looking for a fixer-upper! Set among the rolling terrain and mature trees that define Woodway, this 1.5-story home presents a strong opportunity for a buyer ready to make updates and improvements. The main level features two separate living areas, offering flexibility in layout and use. The second living space, located just off the kitchen and dining area, includes a wood-burning fireplace and direct access to the patio overlooking a wooded ravine. The current layout allows for defined spaces, or it could be opened to create a more connected living area. The first floor includes a primary bedroom with its own en suite

Key facts

• 0.4 acre lot
• 2 garage spots
• Built 1961

Tags

• TWO SEPARATE LIVING AREAS
• WOOD BURNING FIREPLACE
• DIRECT ACCESS TO PATIO
• RECENTLY REPLACED ROOF

Property features AI

Finance

• Other: Probate listing; County: McLennan; Country: United States
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No association

Exterior

• Parking: Attached 2-car garage; 2 covered parking spaces; Driveway
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single family residence; Residential property; Not attached to another property; Subdivision: Shalimar
• Construction: Built in 1961; Brick and wood construction
• Exterior features: Sloped lot with steep slope

Interior

• Kitchen: No appliances listed
• Bedrooms: 4 bedrooms (primary bedroom on level 1)
• Bathrooms: 3 bathrooms (2 full, 1 half)
• Interior features: One and one-half levels; One living area; One dining area; Den with fireplace
• Laundry & utility: No laundry/utility appliances listed

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#521 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Midway ISD (other): math 61% / reading 58% proficiency, ranked #56 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Woodway El (math 52% / reading 57%, grade C, #621 of 4,322 statewide, top 15%, 567 students, 28% FRL) — zoned schools at 28% FRL track the district average.
• Market conditions: Rents flat; 308 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $6k 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 60 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 60% 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 $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1961 — 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. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 7.59%
• Cash-on-cash: 4.64%
• DSCR: 1.21
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $365,100
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7517 Brentwood Cir	0.27mi	4/2.0	2,259 (-7%)	5mo	$374,900	$166	69
7516 Brentwood Cir	0.26mi	4/3.0	2,539 (+4%)	19mo	$425,000	$167	63
733 Bellaire Dr	0.33mi	3/2.0 (-1)	2,323 (-5%)	13mo	$320,000	$138	60
1132 Redondo Dr	0.32mi	4/2.5	2,570 (+6%)	20mo	$315,000	$123	60
1133 Forest Grove Dr	0.66mi	5/2.5 (+1)	2,435 (0%)	8mo	$299,900	$123	58
1124 Woodland West Dr	0.62mi	4/3.0	2,414 (-1%)	15mo	$482,000	$200	55
700 Topeka Dr	0.36mi	3/2.5 (-1)	2,322 (-5%)	20mo	$319,900	$138	54
1220 Wedgewood Dr	0.39mi	4/3.0	2,566 (+5%)	23mo	$385,000	$150	52
7416 Brentwood Cir	0.39mi	3/2.0 (-1)	2,115 (-13%)	9mo	$320,000	$151	46
8257 Forest Ridge Dr	0.56mi	3/2.0 (-1)	2,215 (-9%)	16mo	$399,000	$180	39
7213 Sandera Dr	0.63mi	4/3.0	2,673 (+10%)	20mo	$389,990	$146	36
1124 Western Oaks Dr	0.71mi	5/2.5 (+1)	2,263 (-7%)	20mo	$275,000	$122	33

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -11.9%
• Equity multiple: 0.58×
• Total profit: $-23,473
• Equity at exit: $29,806

10-year hold

• IRR: -6.8%
• Equity multiple: 0.61×
• Total profit: $-21,724
• Equity at exit: $17,284

Cash invested: $55,972 (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 76712

• Home prices YoY: -32.6%
• Rents YoY: 0.7%
• Active inventory: 308
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,213 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$400 /mo · $4,803/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $216

Break-even live

Break-even rent $1,939

Max offer price $199,900

Occupancy floor 85%

Sensitivity live

Price	-10% $329	-5% $273	+0% $216	+5% $160	+10% $103
Rent	-10% $42	-5% $129	+0% $216	+5% $304	+10% $391
Rate	-1.0pp $317	-0.5pp $267	base $216	+0.5pp $165	+1.0pp $112

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1125 Wedgewood Dr Woodway, TX	4.0	2.0	2246	$2,195	$0.98	44d	1	0.33mi
701 Topeka Dr Woodway, TX	3.0	2.0	1781	$2,300	$1.29	14d	1	0.40mi
901 Rambler Dr Waco, TX	3.0	2.0	1629	$1,795	$1.10	22d	1	0.82mi
6807 Alford Dr Waco, TX	3.0	2.5	1800	$1,495	$0.83	44d	1	0.98mi
549 N 62nd St Waco, TX	4.0	2.0	1690	$1,995	$1.18	44d	1	1.42mi

Listing history 12 events

1. 2026-06-21
   statusdays on market $199,900 Active 60 DOM
2. 2026-06-12
   statusdays on market $199,900 Pending 58 DOM
3. 2026-06-10
   days on market $199,900 Active 57 DOM
4. 2026-06-08
   days on market $199,900 Active 56 DOM
5. 2026-06-08
   days on market $199,900 Active 55 DOM
6. 2026-06-07
   days on market $199,900 Active 54 DOM
7. 2026-06-04
   price $199,900 Active 51 DOM
8. 2026-06-03
   days on market $215,000 Active 51 DOM
9. 2026-06-02
   days on market $215,000 Active 50 DOM
10. 2026-06-01
    days on market $215,000 Active 49 DOM
11. 2026-05-31
    remarks 699-char remark
12. 2026-05-31
    listed $215,000 Active 48 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: $4,803 · $400/mo
• Projected year-2 tax: $4,803 · $400/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 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: $26,555
• − Mortgage interest: −$11,198
• − Property taxes: −$4,803
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,124
• − Management: −$2,124
• − Depreciation: −$5,815
• Taxable loss: −$509
• Est. tax savings @ 24.0%: +$122
• After-tax cash flow: $2,718/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: Midway ISD
• NCES district ID: 4830640
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $67,076
• Composite: 52.32/100
• National rank: #1593
• State rank: #56 of 826 in TX

Livability — Woodway

• Score: 67/100
• State rank: #521
• US rank: #10234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Woodway, TX
• County: McLennan County · 213,088 people
• City population: 29,118
• Metro: Waco, TX
• Population (ZIP): 29,118
• Household income: $97,903
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 847.0

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 14% Two or more races 12% Black 7% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Slovak 3% Italian 2% Iranian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 6% 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: ▼ -96.17%
• Current HPI: 198.9025
• Rent YoY: ▲ 0.71%
• 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

-6.5% since first listed

3 events — show timeline

• 2026-05-11 Price Changed $215,000 NTREIS
• 2026-04-13 Listed $229,900 NTREIS
• 1997-11-21 Sold (Public Records) — Public Records

Property tax history

+4.3%/yr

Latest (2025): $4,803 · +11.3% YoY. Source: county tax records.