917 N 10th St · Waco, TX 76707

$130,000

4 bd · 3.0 ba · 2,605 sqft · SingleFamily public records · 200 Days on market

Built 1920 $50/sqft · 52% below area

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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
• 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 MLS

Investment Opportunity 917 N 10th St, Waco, TX 4 Beds 2.5 Baths 2,605 Sq Ft Built 1920 2-Story Home Lot Size: 7,902 Sq Ft Great distressed investment property in the heart of Waco with strong potential. This spacious 2-story, 4-bedroom home offers 2,605 sq ft of living space and historic 1920s character ready for renovation. The property is ideal for investors, flippers, or buy-and-hold buyers looking for a value-add opportunity in an improving area. Being sold as-is.

Key facts

• Built 1920
• Listed 200 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $753 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% 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: 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 rising (+1.1%/yr); 144 active listings in the ZIP; 3 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).
• At $2,254/mo this rent would consume 67% of the median local household income ($40k/yr) (locally 704% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.73% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.82%
• DSCR: 2.10
• GRM: 4.8

CMA / ARV

• ARV (median comp): $269,720
• List price: $130,000
• Delta: -51.80%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
720 N 15th St	0.43mi	4/3.5	2,772 (+6%)	13mo	$349,999	$126	57
702 N 13th St	0.29mi	4/2.5	2,233 (-14%)	6mo	$349,000	$156	56
726 N 16th St	0.50mi	3/3.0 (-1)	2,736 (+5%)	9mo	$350,000	$128	56
1811 Colcord Ave	0.75mi	4/3.0	2,880 (+11%)	9mo	$349,900	$121	40
1821 Morrow Ave	0.69mi	5/3.0 (+1)	2,278 (-13%)	4mo	$299,900	$132	38
824 N 19th St	0.74mi	3/2.0 (-1)	2,456 (-6%)	12mo	$179,900	$73	37
1711 West Ave	0.62mi	3/2.0 (-1)	2,272 (-13%)	21mo	$265,000	$117	23

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: 16.0%
• Equity multiple: 1.63×
• Total profit: $22,864
• Equity at exit: $19,383

10-year hold

• IRR: 23.1%
• Equity multiple: 2.81×
• Total profit: $65,753
• Equity at exit: $11,240

Cash invested: $36,400 (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: 4.8×

Monthly cashflow live

• Estimated rent: $2,254 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$292 /mo · $3,499/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $753

Break-even live

Break-even rent $1,301

Max offer price $130,000

Occupancy floor 62%

Sensitivity live

Price	-10% $827	-5% $790	+0% $753	+5% $716	+10% $679
Rent	-10% $575	-5% $664	+0% $753	+5% $842	+10% $931
Rate	-1.0pp $818	-0.5pp $786	base $753	+0.5pp $719	+1.0pp $685

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 N 19th St Waco, TX	3.0	1.5	1800	$2,050	$1.14	22d	1	0.74mi
1817 Lyle Ave Waco, TX	3.0	2.5	2430	$2,295	$0.94	22d	1	1.32mi
1500 E James St Unit A Waco, TX	4.0	4.0	1764	$2,750	$1.56	45d	1	1.45mi

Listing history 21 events

1. 2026-06-21
   days on market $130,000 Active 200 DOM
2. 2026-06-18
   days on market $130,000 Active 197 DOM
3. 2026-06-17
   days on market $130,000 Active 196 DOM
4. 2026-06-16
   days on market $130,000 Active 195 DOM
5. 2026-06-15
   days on market $130,000 Active 194 DOM
6. 2026-06-14
   days on market $130,000 Active 192 DOM
7. 2026-06-13
   days on market $130,000 Active 191 DOM
8. 2026-06-10
   days on market $130,000 Active 189 DOM
9. 2026-06-09
   days on market $130,000 Active 188 DOM
10. 2026-06-08
    days on market $130,000 Active 187 DOM
11. 2026-06-07
    days on market $130,000 Active 186 DOM
12. 2026-06-05
    days on market $130,000 Active 183 DOM
13. 2026-06-03
    days on market $130,000 Active 182 DOM
14. 2026-06-02
    days on market $130,000 Active 181 DOM
15. 2026-06-01
    days on market $130,000 Active 180 DOM
16. 2026-05-31
    days on market $130,000 Active 179 DOM
17. 2026-05-30
    days on market $130,000 Active 178 DOM
18. 2025-12-01
    listed $130,000 Active 473-char remark

    Show marketing remark (473 chars)

    Investment Opportunity 917 N 10th St, Waco, TX 4 Beds 2.5 Baths 2,605 Sq Ft Built 1920 2-Story Home Lot Size: 7,902 Sq Ft Great distressed investment property in the heart of Waco with strong potential. This spacious 2-story, 4-bedroom home offers 2,605 sq ft of living space and historic 1920s character ready for renovation. The property is ideal for investors, flippers, or buy-and-hold buyers looking for a value-add opportunity in an improving area. Being sold as-is.

19. 2025-11-07
    soldstatus
20. 2021-06-07
    soldstatus
21. 2012-01-20
    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: $3,499 · $292/mo
• Projected year-2 tax: $3,499 · $292/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 22 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: $27,045
• − Mortgage interest: −$7,282
• − Property taxes: −$3,499
• − Insurance: −$650
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$3,782
• Taxable income: $7,505
• Est. tax owed @ 24.0%: −$1,801
• After-tax cash flow: $7,235/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

4 events — show timeline

• 2025-12-01 Listed $130,000 Fizber.com
• 2025-11-07 Sold (Public Records) — Public Records
• 2021-06-07 Sold (Public Records) — Public Records
• 2012-01-20 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,499 · -4.2% YoY. Source: county tax records.