705 N 33rd St · Waco, TX 76707

$144,900

3 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 71 Days on market

Built 1940 7,492 sqft lot Est $201k · 28% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.6/10.0
• 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

This house is completed with new windows, all flooring has been installed, completely painted the outside and all the finishing touches inside are done. If buyers want HVAC, the sellers will have one installed by closing with $7000 added to the sales price. Great location with easy access to HWY 84. The seller can't close on this one until May 21, 2024. He can do a Temporary Residential lease until closing.

Key facts

• Newer windows
• Updated flooring
• Large separate room

Tags

• HUACO HEIGHTS NEIGHBORHOOD
• NEWER WINDOWS
• UPDATED FLOORING
• OPEN KITCHEN
• LARGE SEPARATE ROOM
• DEDICATED LAUNDRY AREA

Property features AI

Finance

• Financial info: Listing accepts Cash and Conventional financing
• HOA & community: No association

Exterior

• Parking: Driveway parking
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property
• Construction: Built in 1940
• Exterior features: Lot under 0.5 acre (approximately 0.172 acres); Subdivision: Huaco Heights

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher not listed
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Wall furnace heating; Wall/window cooling units; Other heating and cooling
• Interior features: Walk-in closet(s); One living area; One dining area; Total of 4 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Crestview El (math 17% / reading 17%, grade F, #3,836 of 4,322 statewide, top 91%, 451 students, 94% FRL).
• 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).
• At $1,538/mo this rent would consume 46% 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 $1k 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 71 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $25k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $136,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.06% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $200,830
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
705 N 33rd St	0.00mi	3/1.5	1,330 (0%)	1mo	$144,900	$109	97
3732 Grim Ave	0.40mi	3/2.0	1,328 (-0%)	1mo	$199,900	$151	77
2912 E Edmond Ave	0.37mi	3/1.0	1,262 (-5%)	0mo	$175,000	$139	74
3613 Erath St	0.35mi	3/1.0	1,240 (-7%)	4mo	$75,000	$60	69
3220 Edmond Ave	0.46mi	3/2.0	1,376 (+4%)	1mo	$225,000	$164	68
2920 Ethel Ave	0.73mi	3/1.0	1,330 (0%)	2mo	$169,900	$128	64
200 N 30th St	0.41mi	2/2.5 (-1)	1,261 (-5%)	3mo	$315,000	$250	59
3104 Homan	0.63mi	3/1.5	1,410 (+6%)	4mo	$75,000	$53	56
4101 Austin Ave	0.69mi	2/1.0 (-1)	1,256 (-6%)	1mo	$198,000	$158	53
4229 Fort Ave	0.69mi	3/2.0	1,420 (+7%)	3mo	$289,900	$204	50
3801 Erath Ave	0.48mi	3/2.0	1,521 (+14%)	2mo	$292,000	$192	48
4205 Gorman Ave	0.59mi	2/2.0 (-1)	1,498 (+13%)	2mo	$199,500	$133	41

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: -9.8%
• Equity multiple: 0.65×
• Total profit: $-14,274
• Equity at exit: $21,605

10-year hold

• IRR: -3.2%
• Equity multiple: 0.80×
• Total profit: $-7,999
• Equity at exit: $12,528

Cash invested: $40,572 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,538 high
• Mortgage (P&I): −$760
• Tax from tax record: −$206 /mo · $2,473/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $188

Break-even live

Break-even rent $1,299

Max offer price $144,900

Occupancy floor 83%

Sensitivity live

Price	-10% $270	-5% $229	+0% $188	+5% $147	+10% $106
Rent	-10% $67	-5% $128	+0% $188	+5% $249	+10% $310
Rate	-1.0pp $261	-0.5pp $225	base $188	+0.5pp $151	+1.0pp $113

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3621 Gorman Ave Waco, TX	3.0	1.5	1086	$1,950	$1.80	14d	1	0.26mi
3400 W Brookview Dr Waco, TX	1.0–2.0	1.0	865	$1,209	$1.40	14d	5	0.35mi
2714 Morrow Ave Waco, TX	2.0	1.0	1484	$1,375	$0.93	21d	1	0.41mi
3121 Colonial Ave Waco, TX	3.0	2.0	1085	$1,600	$1.47	44d	1	0.52mi
3121 Colonial Ave Waco, TX	3.0	2.0	1085	$1,600	$1.47	21d	1	0.52mi
2601 Fort Ave Unit 4 Waco, TX	2.0	1.0	1000	$990	$0.99	44d	1	0.52mi
3116 Bosque Blvd Waco, TX	2.0	1.0	1100	$1,250	$1.14	14d	1	0.54mi
2900 Austin Ave Waco, TX	2.0	2.0	1176	$1,195	$1.02	44d	1	0.56mi
2632 Colonial Ave Unit B Waco, TX	2.0	1.0	896	$1,050	$1.17	21d	1	0.60mi
2724 Bosque Blvd Waco, TX	2.0	1.0	1120	$1,100	$0.98	21d	1	0.63mi
1309 Sunset St Waco, TX	2.0	1.0	1102	$1,295	$1.18	21d	1	0.65mi
2705 Bosque Blvd Waco, TX	3.0	2.0	1028	$1,599	$1.56	44d	1	0.68mi
3701 Parkwood St Unit 3703 Waco, TX	2.0	1.0	950	$1,075	$1.13	14d	1	0.69mi
3125 Ethel Ave Waco, TX	3.0	2.0	1760	$1,900	$1.08	21d	1	0.73mi
608 N 23rd St Waco, TX	3.0	1.0	1361	$1,695	$1.25	21d	1	0.75mi
615 N 23rd St Waco, TX	2.0	1.0	900	$1,275	$1.42	21d	1	0.78mi
1300 N 43rd St Waco, TX	2.0	1.0	1109	$860	$0.78	21d	1	0.78mi
415 N 23rd St Waco, TX	3.0	2.0	1680	$2,000	$1.19	21d	1	0.80mi
4019 Huaco Ln Waco, TX	2.0	1.0	875	$1,095	$1.25	21d	1	0.81mi
2300 Washington Ave Waco, TX	3.0	1.0	1232	$1,650	$1.34	14d	1	0.85mi
1113 N New Rd Waco, TX	3.0	2.0	1326	$1,620	$1.22	21d	1	0.85mi
2116 Morrow Ave Waco, TX	4.0	2.0	1703	$1,650	$0.97	21d	1	0.86mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	21d	1	0.91mi
1400 N 23rd St Waco, TX	4.0	2.0	1650	$1,575	$0.95	14d	1	1.00mi
700 S Valley Mills Dr Waco, TX	1.0–2.0	1.0–1.5	850	$995	$1.17	14d	2	1.01mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	44d	1	1.03mi
4320 Guthrie Cir Waco, TX	3.0	1.0	1069	$1,700	$1.59	21d	1	1.05mi
2001 Bosque Blvd Waco, TX	3.0	1.0	1628	$1,100	$0.68	44d	1	1.08mi
1923 Austin Ave Unit 5202 Waco, TX	2.0	2.5	1265	$1,395	$1.10	21d	1	1.09mi
1000 N 19th St Waco, TX	3.0	1.5	1800	$2,050	$1.14	21d	1	1.10mi
1901 N 28th St Waco, TX	3.0	2.0	1794	$1,950	$1.09	21d	1	1.12mi
3821 Lasker Ave Waco, TX	3.0	2.0	1209	$1,850	$1.53	21d	1	1.16mi
3812 Hiland Dr Waco, TX	3.0	1.0	1124	$995	$0.89	14d	1	1.17mi
4000 Acree St Waco, TX	3.0	1.5	984	$1,295	$1.32	21d	1	1.18mi
3625 Maple Ave Waco, TX	2.0	1.0	950	$1,275	$1.34	44d	1	1.25mi
2601 Flint Ave Waco, TX	3.0	2.0	1356	$1,720	$1.27	44d	1	1.29mi
2100 N 33rd St Waco, TX	3.0	3.0	1858	$2,200	$1.18	44d	1	1.30mi
3532 Windsor Ave Waco, TX	3.0	2.0	1100	$1,475	$1.34	14d	1	1.31mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	44d	1	1.31mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	44d	1	1.35mi

Listing history 15 events

1. 2026-04-29
   status Pending
2. 2026-04-20
   historical Active Option Contract
3. 2026-04-13
   status Active
4. 2026-04-02
   historical Active Option Contract
5. 2026-03-23
   price $144,900
6. 2026-03-02
   price $159,900
7. 2026-02-17
   listed $169,900 Active
8. 2025-06-17
   historical
9. 2025-05-01
   listed $184,000 Active
10. 2024-05-23
    soldstatus 411-char remark

    Show marketing remark (411 chars)

    This house is completed with new windows, all flooring has been installed, completely painted the outside and all the finishing touches inside are done. If buyers want HVAC, the sellers will have one installed by closing with $7000 added to the sales price. Great location with easy access to HWY 84. The seller can't close on this one until May 21, 2024. He can do a Temporary Residential lease until closing.

11. 2023-11-05
    listed $163,000 411-char remark

    Show marketing remark (411 chars)

    This house is completed with new windows, all flooring has been installed, completely painted the outside and all the finishing touches inside are done. If buyers want HVAC, the sellers will have one installed by closing with $7000 added to the sales price. Great location with easy access to HWY 84. The seller can't close on this one until May 21, 2024. He can do a Temporary Residential lease until closing.

12. 2023-09-29
    soldstatus
13. 2023-09-08
    soldstatus
14. 2022-10-09
    listed $130,000
15. 2016-03-04
    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: $2,473 · $206/mo
• Projected year-2 tax: $2,652 · $221/mo
• Expected delta: +$178/yr (+$15/mo · 7.2%)

ⓘ 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 1/10 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: $18,450
• − Mortgage interest: −$8,117
• − Property taxes: −$2,473
• − Insurance: −$724
• − Repairs & maintenance: −$1,476
• − Management: −$1,476
• − Depreciation: −$4,215
• Taxable loss: −$31
• Est. tax savings @ 24.0%: +$8
• After-tax cash flow: $2,267/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

+11.5% since first listed

15 events — show timeline

• 2026-04-29 Pending — NTREIS
• 2026-04-20 Contingent — NTREIS
• 2026-04-13 Relisted — NTREIS
• 2026-04-02 Contingent — NTREIS
• 2026-03-23 Price Changed $144,900 NTREIS
• 2026-03-02 Price Changed $159,900 NTREIS
• 2026-02-17 Listed $169,900 NTREIS
• 2025-06-17 Listing Removed — NTREIS
• 2025-05-01 Listed $184,000 NTREIS
• 2024-05-23 Sold (MLS) — NTREIS
• 2023-11-05 Listed $163,000 NTREIS
• 2023-09-29 Sold (MLS) — NTREIS
• 2023-09-08 Sold (Public Records) — Public Records
• 2022-10-09 Listed $130,000 NTREIS
• 2016-03-04 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $2,473 · -48.0% YoY. Source: county tax records.