1724 Mcferrin Ave · Waco, TX 76708

$82,500

2 bd · 1.0 ba · 744 sqft · SingleFamily public records · 21 Days on market

Built 1932 8,233 sqft lot Est $148k · 44% 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
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• 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

Affordable home ready to make it your own!

Key facts

• 8,233 sq ft lot
• Built 1932
• Listed 21 days

Property features AI

Finance

• Financial info: Listing offers cash and conventional financing
• HOA & community: No homeowners association

Exterior

• Parking: On-street parking
• Utilities: City sewer; No municipal utility district
• Home design: Single-family residence; Residential property; Built in 1932; One story
• Construction: Year built 1932
• Exterior features: Corner lot (corner of 18th and McFerrin); Lot under 0.5 acre (about 0.189 acres)

Interior

• Kitchen: Gas cooktop
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Interior features: One-level layout; 4 total rooms; Living area approximately 744 (sq. ft. omitted per instructions); Other interior features

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $339 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $81k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: Cedar Ridge El (math 16% / reading 21%, grade F, #3,759 of 4,322 statewide, top 88%, 447 students, 96% FRL).
• Market conditions: Rents soft (-0.8%/yr); 376 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $570 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $23k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1932 — 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 $81,262 (1.5% below list)

Questions for the listing agent

1. Built in 1932 — 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: 1.41% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.61%
• DSCR: 1.78
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $148,056
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1617 Blackmon St	0.12mi	2/1.0	720 (-3%)	4mo	$210,000	$292	86
2713 N 20th St	0.30mi	2/1.0	780 (+5%)	14mo	$60,000	$77	67
3208 N 20th St	0.21mi	2/1.0	792 (+6%)	18mo	$159,900	$202	64
3209 N 23rd St	0.41mi	2/1.0	818 (+10%)	5mo	$149,000	$182	60
3208 N 24th St	0.52mi	2/1.0	728 (-2%)	16mo	$145,000	$199	59
3628 N 24th St	0.69mi	2/1.0	728 (-2%)	14mo	$165,000	$227	53
2605 Mitchell Ave	0.71mi	2/1.5	807 (+8%)	1mo	$164,000	$203	50
3525 N 25th St	0.64mi	2/1.0	819 (+10%)	4mo	$110,000	$134	50
3125 N 27th St	0.71mi	2/1.0	806 (+8%)	11mo	$75,000	$93	44
3113 N 25th St	0.55mi	2/1.0	812 (+9%)	18mo	$85,000	$105	44

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: 5.6%
• Equity multiple: 1.21×
• Total profit: $4,842
• Equity at exit: $12,301

10-year hold

• IRR: 12.1%
• Equity multiple: 1.82×
• Total profit: $18,949
• Equity at exit: $7,133

Cash invested: $23,100 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,163 high
• Mortgage (P&I): −$433
• Tax from tax record: −$112 /mo · $1,349/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $339

Break-even live

Break-even rent $733

Max offer price $82,500

Occupancy floor 66%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2505 Reuter Ave Waco, TX	1.0	1.0	480	$695	$1.45	44d	1	0.62mi
1827 Proctor Ave Unit A Waco, TX	2.0	1.0	600	$1,000	$1.67	21d	1	0.63mi
1827 Proctor Ave Waco, TX	2.0	1.0	600	$1,000	$1.67	13d	1	0.63mi
3118 N 26th St Waco, TX	1.0	1.0	432	$925	$2.14	44d	1	0.67mi
4101 N 19th St Waco, TX	1.0	1.0	520	$900	$1.73	21d	1	0.82mi
2736 Lake Shore Dr Waco, TX	1.0–2.0	1.0–2.0	1034	$1,774	$1.71	13d	1	1.41mi
1716 Ethel Ave Unit 1714 Waco, TX	1.0	1.0	674	$1,100	$1.63	21d	1	1.43mi
817 Colcord Ave Waco, TX	1.0	1.0	700	$1,225	$1.75	44d	1	1.45mi
1600 Lake Shore Dr Waco, TX	1.0–3.0	1.0–2.0	829	$1,150	$1.39	13d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $82,500 Active 21 DOM
2. 2026-06-17
   days on market $82,500 Active 20 DOM
3. 2026-06-16
   days on market $82,500 Active 19 DOM
4. 2026-06-15
   days on market $82,500 Active 18 DOM
5. 2026-06-14
   days on market $82,500 Active 16 DOM
6. 2026-06-13
   days on market $82,500 Active 15 DOM
7. 2026-06-10
   days on market $82,500 Active 13 DOM
8. 2026-06-09
   days on market $82,500 Active 12 DOM
9. 2026-06-08
   days on market $82,500 Active 11 DOM
10. 2026-06-07
    days on market $82,500 Active 10 DOM
11. 2026-06-05
    days on market $82,500 Active 7 DOM
12. 2026-06-03
    days on market $82,500 Active 6 DOM
13. 2026-06-02
    days on market $82,500 Active 5 DOM
14. 2026-06-01
    days on market $82,500 Active 4 DOM
15. 2026-05-31
    days on market $82,500 Active 3 DOM
16. 2026-05-30
    days on market $82,500 Active 2 DOM
17. 2026-05-28
    listed $82,500 Active
18. 2020-05-02
    listed $69,500

ⓘ 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: $1,349 · $112/mo
• Projected year-2 tax: $1,510 · $126/mo
• Expected delta: +$161/yr (+$13/mo · 11.9%)

ⓘ 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 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: $13,952
• − Mortgage interest: −$4,621
• − Property taxes: −$1,349
• − Insurance: −$412
• − Repairs & maintenance: −$1,116
• − Management: −$1,116
• − Depreciation: −$2,400
• Taxable income: $2,937
• Est. tax owed @ 24.0%: −$705
• After-tax cash flow: $3,364/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

+18.7% since first listed

2 events — show timeline

• 2026-05-28 Listed $82,500 NTREIS
• 2020-05-02 Listed $69,500 NTREIS

Property tax history

+7.1%/yr

Latest (2025): $1,349 · +1.4% YoY. Source: county tax records.