1827 Wood Ave · Waco, TX 76706

$139,900

2 bd · 1.0 ba · 1,018 sqft · SingleFamily public records · 59 Days on market

Built 1938 8,233 sqft lot $137/sqft · 25% below area Est $187k · 25% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1827 Wood Ave, a cottage-style home ideally located near Baylor University. A welcoming front porch with new decking sets the tone for this inviting 3-bedroom, 1-bath residence. Inside, you’ll find a light and bright palette with updated kitchen cabinetry, newer windows, and solid surface flooring throughout. Situated just minutes from campus, downtown Waco, and with quick access to Interstate 35, commuting and daily errands are easy. The backyard includes a storage structure that is perfect for recreation equipment or tools. Whether you’re looking to expand your Baylor-area rental portfolio or searching for a budget-friendly first home, this property presents an exce

Key facts

• New decking
• Front porch
• Newer windows

Tags

• FRONT PORCH
• NEW DECKING
• UPDATED KITCHEN CABINETRY
• NEWER WINDOWS
• SOLID SURFACE FLOORING
• STORAGE STRUCTURE

Property features AI

Finance

• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Utilities: City water; City sewer; Electricity connected; Not in a municipal utility district
• Home design: Single family residence; Residential property; Built in 1938; One story
• Construction: Composition roof
• Exterior features: Covered patio/porch; Chain link fence; Lot under 0.5 acre

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 3 bedrooms (all on main level)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Interior features: One living area; One dining area; Other interior features; One-level layout
• Laundry & utility: Washer hookup; Laundry area in kitchen; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (3.2% below list).
• Recommended offer: $135k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: South Waco El (math 8% / reading 22%, grade F, #4,021 of 4,322 statewide, top 94%, 462 students, 96% FRL); Cesar Chavez Middle (math 16% / reading 24%, grade F, #1,428 of 1,662 statewide, top 87%, 840 students, 94% FRL); University H S (math 39% / reading 31%, grade F, #954 of 1,632 statewide, top 59%, 1,678 students, 89% FRL).
• Market conditions: Rents rising (+1.9%/yr); 317 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 39% of the median local income ($42k/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 $967 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $13k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 56% 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 $135,415 (3.2% below list)

Questions for the listing agent

1. It's been on market 59 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 1938 — 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.93%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

• ARV (median comp): $187,149
• List price: $139,900
• Delta: -25.25%
• 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
1825 Bagby Ave	0.08mi	3/1.0 (+1)	1,008 (-1%)	17mo	$115,000	$114	76
1816 Bagby Ave	0.05mi	3/1.5 (+1)	934 (-8%)	13mo	$215,000	$230	66
1403 Gurley Ave	0.62mi	2/1.0	988 (-3%)	2mo	$70,000	$71	64
2301 Connor Ave	0.55mi	3/1.0 (+1)	1,020 (+0%)	8mo	$179,900	$176	62
1416 Speight Ave	0.39mi	2/1.0	1,059 (+4%)	18mo	$249,900	$236	60
1816 Gurley Ave	0.48mi	2/1.0	936 (-8%)	10mo	$70,000	$75	55
1106 S 15th St	0.62mi	3/1.0 (+1)	916 (-10%)	2mo	$110,000	$120	48
2320 Mistletoe St	0.36mi	3/2.0 (+1)	1,128 (+11%)	10mo	$214,900	$191	48
1511 Gurley Ave	0.57mi	3/1.0 (+1)	1,170 (+15%)	4mo	$219,900	$188	40
1012 S 16th St	0.64mi	3/2.0 (+1)	1,132 (+11%)	8mo	$210,000	$186	36
2015 Marie Dr	0.67mi	3/2.0 (+1)	903 (-11%)	10mo	$239,000	$265	33
2431 S 26th St	0.73mi	3/1.0 (+1)	1,161 (+14%)	6mo	$168,000	$145	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 · 1.86% rent growth · sell at horizon

5-year hold

• IRR: -13.0%
• Equity multiple: 0.54×
• Total profit: $-18,085
• Equity at exit: $20,860

10-year hold

• IRR: -5.8%
• Equity multiple: 0.64×
• Total profit: $-13,956
• Equity at exit: $12,096

Cash invested: $39,172 (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 76706

• Home prices YoY: -29.1%
• Rents YoY: 1.9%
• Active inventory: 317
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,354 high
• Mortgage (P&I): −$734
• Tax from tax record: −$182 /mo · $2,185/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $96

Break-even live

Break-even rent $1,233

Max offer price $139,900

Occupancy floor 88%

Sensitivity live

Price	-10% $175	-5% $135	+0% $96	+5% $56	+10% $17
Rent	-10% $-11	-5% $42	+0% $96	+5% $149	+10% $203
Rate	-1.0pp $166	-0.5pp $131	base $96	+0.5pp $59	+1.0pp $23

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1342 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	15d	1	0.47mi
1311 Speight Ave #1311 Waco, TX	2.0	2.5	1143	$1,500	$1.31	22d	1	0.49mi
1311 Speight Ave Waco, TX	2.0	2.5	1143	$1,195	$1.05	15d	1	0.49mi
1800 Primrose Dr Waco, TX	1.0–4.0	1.0–2.0	942	$992	$1.05	15d	33	0.50mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	22d	1	0.50mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	15d	1	0.50mi
1508 S 13th St Waco, TX	1.0–2.0	1.0	775	$895	$1.15	15d	1	0.54mi
2021 Gurley Ave Waco, TX	3.0	2.0	1320	$1,500	$1.14	22d	1	0.55mi
1421 S 12th St Waco, TX	2.0	2.0	928	$985	$1.06	15d	3	0.58mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,350	$1.32	22d	2	0.59mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,337	$1.31	15d	2	0.59mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	736	$1,095	$1.49	45d	2	0.59mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	832	$945	$1.14	15d	2	0.59mi
1214 Baylor Ave Waco, TX	2.0	2.0	832	$1,020	$1.23	22d	1	0.59mi
1901 Dutton Ave Waco, TX	2.0	1.0	864	$1,400	$1.62	15d	1	0.60mi
1348 S 12th St Waco, TX	2.0	2.0	958	$1,300	$1.36	22d	1	0.67mi
1628 Ewing Ave Waco, TX	3.0	2.0	1472	$2,400	$1.63	15d	1	0.68mi
1300 S 11th St Waco, TX	2.0	2.5	1083	$1,209	$1.12	15d	14	0.75mi
1914 Ross Ave Waco, TX	3.0	1.0	1316	$1,495	$1.14	22d	1	0.79mi
1911 S 8th St Waco, TX	2.0	1.0	798	$1,198	$1.50	22d	1	0.80mi
2005 S 8th St Waco, TX	1.0–2.0	1.0–2.0	685	$1,000	$1.46	15d	2	0.81mi
2601 Flint Ave Waco, TX	3.0	2.0	1356	$1,720	$1.27	45d	1	0.84mi
1918 S 8th St Waco, TX	3.0	2.0	1061	$1,200	$1.13	22d	1	0.86mi
2011 S 7th St Waco, TX	3.0	3.0	1484	$1,800	$1.21	22d	1	0.88mi
2011 S 7th St Unit 6B Waco, TX	3.0	3.0	1478	$2,150	$1.45	45d	1	0.89mi
700 S 24th St Unit 1 Waco, TX	2.0	1.0	812	$1,200	$1.48	22d	1	0.93mi
600 Bagby Ave Waco, TX	2.0–3.0	2.5	1206	$1,500	$1.24	45d	3	0.95mi
600 Bagby Ave Waco, TX	2.0	2.0–2.5	1102	$1,496	$1.36	22d	2	0.95mi
3200 Belmont Dr Unit 3228 Waco, TX	2.0	2.0	995	$1,500	$1.51	15d	1	0.98mi
1800 S 5th St Waco, TX	2.0	2.0	900	$1,240	$1.38	22d	1	1.07mi
412 University St Waco, TX	2.0	1.0	864	$1,895	$2.19	22d	1	1.10mi
410 Daughtrey Ave Waco, TX	1.0	2.0	897	$1,000	$1.11	22d	1	1.12mi
715 Cleveland Ave Waco, TX	1.0–3.0	1.0–3.0	845	$1,436	$1.70	15d	23	1.17mi
2308 S 3rd St Unit B Waco, TX	2.0	2.0	1130	$1,350	$1.19	15d	1	1.32mi
3411 Pewitt Dr #3413 Waco, TX	2.0	1.0	1000	$1,350	$1.35	22d	1	1.32mi
2539 Pascal Ct Unit B Waco, TX	3.0	3.5	1350	$1,950	$1.44	22d	1	1.34mi
3447 Pewitt Dr Waco, TX	2.0	1.0	907	$1,350	$1.49	15d	1	1.35mi
3430 Pewitt Dr Waco, TX	2.0	1.0	916	$1,150	$1.26	45d	1	1.37mi
1923 Austin Ave Waco, TX	1.0	1.0	785	$1,200	$1.53	22d	1	1.38mi
1923 Austin Ave Unit 5202 Waco, TX	2.0	2.5	1265	$1,395	$1.10	22d	1	1.38mi

Listing history 26 events

1. 2026-06-21
   days on market $139,900 Active 59 DOM
2. 2026-06-18
   days on market $139,900 Active 56 DOM
3. 2026-06-17
   days on market $139,900 Active 55 DOM
4. 2026-06-16
   days on market $139,900 Active 54 DOM
5. 2026-06-15
   days on market $139,900 Active 53 DOM
6. 2026-06-14
   days on market $139,900 Active 51 DOM
7. 2026-06-13
   days on market $139,900 Active 50 DOM
8. 2026-06-10
   days on market $139,900 Active 48 DOM
9. 2026-06-09
   days on market $139,900 Active 47 DOM
10. 2026-06-08
    days on market $139,900 Active 46 DOM
11. 2026-06-07
    days on market $139,900 Active 45 DOM
12. 2026-06-05
    pricedays on market $139,900 Active 42 DOM
13. 2026-06-03
    days on market $144,900 Active 41 DOM
14. 2026-06-02
    days on market $144,900 Active 40 DOM
15. 2026-06-01
    days on market $144,900 Active 39 DOM
16. 2026-05-31
    days on market $144,900 Active 38 DOM
17. 2026-05-30
    days on market $144,900 Active 37 DOM
18. 2026-05-06
    price $144,900 748-char remark
19. 2026-04-23
    listed $152,500 Active 748-char remark
20. 2026-04-20
    historical $1,275
21. 2026-03-21
    listed $1,275
22. 2020-04-21
    historical
23. 2019-10-21
    listed $65,000
24. 2005-03-31
    soldstatus
25. 2005-03-15
    soldstatus
26. 2000-10-04
    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: $2,185 · $182/mo
• Projected year-2 tax: $2,560 · $213/mo
• Expected delta: +$375/yr (+$31/mo · 17.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 56% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,250
• − Mortgage interest: −$7,837
• − Property taxes: −$2,185
• − Insurance: −$700
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$4,070
• Taxable loss: −$1,141
• Est. tax savings @ 24.0%: +$274
• After-tax cash flow: $1,423/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): 41,627
• Household income: $41,656
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 3883.0

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: White 49% Hispanic / Latino 31% Two or more races 17% Black 15% Asian 3%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 1% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 19% Other Indo-European 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: ▼ -94.31%
• Current HPI: 230.2557
• Rent YoY: ▲ 1.86%
• 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

+115.2% since first listed

10 events — show timeline

• 2026-06-04 Price Changed $139,900 NTREIS
• 2026-05-06 Price Changed $144,900 NTREIS
• 2026-04-23 Listed $152,500 NTREIS
• 2026-04-20 Rental Removed $1,275 APPFOLIO
• 2026-03-21 Listed for Rent $1,275 APPFOLIO
• 2020-04-21 Listing Removed — NTREIS
• 2019-10-21 Listed $65,000 NTREIS
• 2005-03-31 Sold (Public Records) — Public Records
• 2005-03-15 Sold (Public Records) — Public Records
• 2000-10-04 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $2,185 · +19.6% YoY. Source: county tax records.