1915 N 13th St · Waco, TX 76707

$65,000

3 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 10 Days on market

Built 1950 10,062 sqft lot

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Special +Builder Opportunity 3 Bed 1 Bath & Duplex Eligible R-2 Lot . 30 Acres Spectacular investment opportunity in Waco TX 76707! This 1,064Sqft 3 bedroom 1 bath home needs full rehab and is ready for someone with a vision to create a lovely home. Additionally sold with an adjacent . 30 Acre lot Zoned R-2 (Qualified for Duplex) This Package Deal offers great potential for creative redesign and a great build opportunity. This deal is ideal for flip, rental, and new build repositioning.

Key facts

• Build opportunity
• Creative redesign
• Zoned r-2

Tags

• INVESTMENT OPPORTUNITY
• ADJACENT LOT
• ZONED R-2
• FULL REHAB
• CREATIVE REDESIGN
• BUILD OPPORTUNITY

Property features AI

Finance

• Other: Possession: Negotiable; Listing status: Active; Listing agreement: Exclusive agency
• Financial info: Listing terms: Cash; Treat as clear loan type; No second mortgage indicated
• HOA & community: No association

Exterior

• Parking: On-street parking; No garage or carport spaces
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1950; One story
• Construction: Year built: 1950
• Exterior features: Lot under 0.5 acre (approximately 0.231 acres); Subdivision: Sturgis Sub

Interior

• Kitchen: Kitchen on main level (10 x 9); No appliances included
• Bedrooms: Three bedrooms (all on the main level): Primary bedroom (11 x 9), Bedroom (10 x 10), Bedroom (9 x 8)
• Bathrooms: One full bathroom (8 x 8)
• Heating & cooling: No heating or cooling information provided
• Interior features: Cable TV available; High-speed internet available; Single-level layout (one story); Six total rooms; One living area; One dining area
• Laundry & utility: No specific laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $121 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 16.4% 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: Brook Avenue El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 369 students, 98% FRL, charter) — zoned schools average 98% FRL vs 81% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Waco ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 144 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 44% of the median local income ($40k/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 $449 of loan paydown is wiped out by about $2k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 60% 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 $65,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.27% ✓
• Cap rate: 16.41%
• Cash-on-cash: 36.12%
• DSCR: 2.61
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $177,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1217 Frost Ave	0.17mi	3/1.0	1,088 (+2%)	6mo	$190,000	$175	84
1815 N 10th St	0.22mi	3/2.0	1,106 (+4%)	8mo	$185,000	$167	72
620 Maryland Ave	0.40mi	2/1.0 (-1)	1,036 (-3%)	6mo	$65,000	$63	68
1815 Maple Ave	0.42mi	2/1.0 (-1)	1,008 (-5%)	2mo	$155,000	$154	65
1113 N 10th St	0.63mi	3/2.0	1,028 (-3%)	1mo	$199,000	$194	60
1417 N 6th St	0.52mi	4/2.0 (+1)	1,154 (+8%)	1mo	$245,500	$213	52
2024 Proctor Ave	0.65mi	3/1.0	1,125 (+6%)	11mo	$85,000	$76	51
1641 N 17th St	0.35mi	2/1.0 (-1)	1,209 (+14%)	11mo	$163,000	$135	47
1405 N 11th St	0.46mi	2/1.0 (-1)	936 (-12%)	10mo	$85,000	$91	45
1901 Algonquin St	0.55mi	3/2.0	1,176 (+10%)	10mo	$248,000	$211	45
1630 Mckenzie Ave	0.71mi	2/1.0 (-1)	1,180 (+11%)	2mo	$119,000	$101	42
1100 N 10th St	0.66mi	3/2.0	926 (-13%)	8mo	$199,900	$216	37

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 · 1.14% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.72×
• Total profit: $-5,129
• Equity at exit: $9,692

10-year hold

• IRR: -3.6%
• Equity multiple: 0.80×
• Total profit: $-3,650
• Equity at exit: $5,620

Cash invested: $18,200 (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 76707

• Rents YoY: 1.1%
• Active inventory: 144
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,473 high
• Mortgage (P&I): −$341
• Tax from tax record: −$248 /mo · $2,979/yr
• Insurance: −$27
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $121

Break-even live

Break-even rent $1,320

Max offer price $65,000

Occupancy floor 87%

Sensitivity live

Price	-10% $333	-5% $140	+0% $121	+5% $103	+10% $84
Rent	-10% $5	-5% $63	+0% $121	+5% $179	+10% $238
Rate	-1.0pp $154	-0.5pp $138	base $121	+0.5pp $104	+1.0pp $87

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	44d	1	0.19mi
712 Proctor Ave Waco, TX	4.0	2.0	1184	$1,450	$1.22	21d	1	0.26mi
718 Garland Ave Unit b Waco, TX	3.0	1.0	838	$985	$1.18	14d	1	0.27mi
1216 Tennessee Ave Unit B Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	0.28mi
1216 Tennessee Ave Waco, TX	3.0	2.0	872	$1,250	$1.43	21d	1	0.28mi
1606 N 9th St Waco, TX	4.0	2.0	1392	$1,525	$1.10	21d	1	0.32mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	44d	1	0.34mi
1818 Windsor Ave Waco, TX	4.0	2.0	1112	$1,625	$1.46	21d	1	0.42mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	14d	1	0.44mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	21d	1	0.50mi
1920 Windsor Ave Waco, TX	3.0	1.0	1216	$1,200	$0.99	44d	1	0.52mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	44d	1	0.54mi
2000 Windsor Ave Waco, TX	4.0	2.5	1450	$1,800	$1.24	44d	1	0.54mi
1110 N 11th St Waco, TX	3.0	2.0	1172	$1,495	$1.28	21d	1	0.62mi
1104 N 11th St Waco, TX	3.0	2.0	1231	$1,650	$1.34	21d	1	0.64mi
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	21d	1	0.69mi
2225 Windsor Ave Waco, TX	2.0	1.0	840	$1,100	$1.31	44d	1	0.76mi
2224 Cumberland Ave Waco, TX	2.0	1.0	768	$1,075	$1.40	44d	1	0.76mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	44d	1	0.77mi
2225 Trice Ave Waco, TX	2.0	1.0	803	$1,300	$1.62	14d	1	0.77mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	21d	1	0.79mi
2121 Lyle Ave Waco, TX	2.0	1.0	1080	$1,000	$0.93	14d	1	0.81mi
716 N 13th St Waco, TX	4.0	2.0	1349	$1,675	$1.24	21d	1	0.86mi
2313 Mitchell Ave Waco, TX	2.0	1.0	804	$1,150	$1.43	21d	1	0.97mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	44d	1	0.98mi
1614 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$925	$1.10	14d	1	1.01mi
2621 Windsor Ave Waco, TX	2.0	1.0	1108	$1,175	$1.06	21d	1	1.02mi
2504 Lyle Ave Waco, TX	3.0	2.0	1028	$1,475	$1.43	21d	1	1.03mi
1611 Bryan Ave Unit B Waco, TX	3.0	1.0	838	$985	$1.18	14d	1	1.04mi
2601 Herring Ave Unit 1 Waco, TX	3.0	1.0	989	$1,295	$1.31	44d	1	1.07mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	44d	1	1.10mi
2408 McKenzie Ave Unit A Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	1.10mi
2401 McKenzie Ave Waco, TX	3.0	1.5	1288	$1,300	$1.01	21d	1	1.10mi
2400 Reuter Ave Waco, TX	4.0	2.0	1426	$1,650	$1.16	21d	1	1.13mi
2704 Herring Ave Waco, TX	2.0	2.0	1286	$1,750	$1.36	21d	1	1.13mi
3400 Adeline Dr Waco, TX	2.0	1.0	1232	$1,150	$0.93	44d	1	1.13mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	21d	1	1.18mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	44d	1	1.18mi
2600 McKenzie Ave Waco, TX	3.0	1.0	1096	$1,395	$1.27	21d	1	1.20mi
2712 Mitchell Ave Waco, TX	3.0	1.0	1120	$1,300	$1.16	21d	1	1.21mi

Listing history 9 events

1. 2026-06-18
   days on market $65,000 Active 10 DOM
2. 2026-06-17
   days on market $65,000 Active 9 DOM
3. 2026-06-16
   days on market $65,000 Active 8 DOM
4. 2026-06-15
   days on market $65,000 Active 7 DOM
5. 2026-06-14
   days on market $65,000 Active 5 DOM
6. 2026-06-13
   days on market $65,000 Active 4 DOM
7. 2026-06-10
   days on market $65,000 Active 2 DOM
8. 2026-06-09
   remarks 505-char remark
9. 2026-06-09
   listed $65,000 Active 1 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: $2,979 · $248/mo
• Projected year-2 tax: $2,979 · $248/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 6/10 Major FEMA zone AE · 73% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 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: $17,681
• − Mortgage interest: −$3,641
• − Property taxes: −$2,979
• − Insurance: −$5,444
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$1,891
• Taxable income: $898
• Est. tax owed @ 24.0%: −$215
• After-tax cash flow: $1,240/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): 15,879
• Household income: $40,443
• Rent vs Own: 41.1% rent · 58.9% own
• Severe rent burden: 704.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 47% Black 32% Two or more races 26% White 18%
• Hispanic origin (detail): Mexican 43%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 15% · Canada
• Languages at home: 65% English-only · Spanish 34% Tagalog/Filipino 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: ▼ -134.95%
• Current HPI: 239.639
• Rent YoY: ▲ 1.14%
• 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

1 event — show timeline

• 2026-06-08 Listed $65,000 NTREIS

Property tax history

+10.9%/yr

Latest (2025): $2,979 · -6.6% YoY. Source: county tax records.