3722 N 27th St · Waco, TX 76708

$180,000

4 bd · 3.0 ba · 3,568 sqft · SingleFamily public records · 46 Days on market

Built 1950 1.04 ac lot $50/sqft · 58% below area

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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 +22.9/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• 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

A piece of Waco history ready to be brought back to its full potential. Set on a full acre at the corner of Park Lake and N 27th, this estate offers decades of character you notice the moment you step onto the property. From the winding driveway to the hidden waterfall, storm cellar, and meandering waterway—you don't find properties for sale like this often. And that's just the outside. The property features over 3,500 square feet of living space, divided between the main house and an ADU, offering a true blank slate for restoration. This is a true restoration opportunity for a buyer who recognizes the value in land, setting, and original character. It's just waiting for the right vis

Key facts

• Meandering waterway
• Original character
• Full acre

Tags

• FULL ACRE
• HIDDEN WATERFALL
• STORM CELLAR
• MEANDERING WATERWAY
• RESTORATION OPPORTUNITY
• ORIGINAL CHARACTER

Property features AI

Finance

• Other: Subdivision: KESTNER S; County: McLennan; Directions: Corner of Park Lake and N 27th
• Financial info: Listing terms: Cash or Conventional; Treat as clear loan type; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: 2 covered parking spaces; 2 carport spaces; Circular driveway
• Utilities: City water; City sewer; Individual gas meter; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Single story
• Construction: Built in 1950
• Exterior features: Corner lot at Park Lake and N 27th; Approximately 1.04-acre lot

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom on main level; Total of 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: One-level home; One living area; One dining area; Other interior features
• Laundry & utility: No smart home features reported

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: 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); 378 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 34% of the median local income ($69k/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 $1k of loan paydown is wiped out by about $5k 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 46 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 59% 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 $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.10% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.50%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $427,904
• List price: $180,000
• Delta: -57.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3636 N 29th St	0.12mi	4/3.0	3,634 (+2%)	16mo	$625,000	$172	77
3600 Macarthur Dr	0.40mi	4/4.0	3,316 (-7%)	7mo	$449,000	$135	59
3417 Stewart Cir	0.64mi	4/4.0	3,570 (+0%)	10mo	$415,000	$116	58
3408 Stewart Cir	0.61mi	4/4.5	3,407 (-4%)	5mo	$620,000	$182	54
8 Enclave Ct	0.63mi	4/4.0	3,117 (-13%)	2mo	$850,000	$273	44
3413 Forrester Ln	0.59mi	4/3.0	3,182 (-11%)	20mo	$590,000	$185	38

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: -10.7%
• Equity multiple: 0.62×
• Total profit: $-19,060
• Equity at exit: $26,839

10-year hold

• IRR: -6.6%
• Equity multiple: 0.64×
• Total profit: $-18,286
• Equity at exit: $15,563

Cash invested: $50,400 (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 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 378
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,973 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $248

Break-even live

Break-even rent $1,659

Max offer price $180,000

Occupancy floor 82%

Sensitivity live

Price	-10% $373	-5% $311	+0% $248	+5% $186	+10% $124
Rent	-10% $93	-5% $170	+0% $248	+5% $326	+10% $404
Rate	-1.0pp $339	-0.5pp $294	base $248	+0.5pp $202	+1.0pp $154

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3219 Pine Ave Waco, TX	4.0	2.5	2678	$2,400	$0.90	22d	1	1.30mi

Listing history 19 events

1. 2026-06-21
   days on market $180,000 Active 46 DOM
2. 2026-06-18
   days on market $180,000 Active 43 DOM
3. 2026-06-17
   days on market $180,000 Active 42 DOM
4. 2026-06-16
   days on market $180,000 Active 41 DOM
5. 2026-06-15
   days on market $180,000 Active 40 DOM
6. 2026-06-14
   days on market $180,000 Active 38 DOM
7. 2026-06-13
   days on market $180,000 Active 37 DOM
8. 2026-06-10
   days on market $180,000 Active 35 DOM
9. 2026-06-09
   days on market $180,000 Active 34 DOM
10. 2026-06-08
    days on market $180,000 Active 33 DOM
11. 2026-06-07
    days on market $180,000 Active 32 DOM
12. 2026-06-05
    days on market $180,000 Active 29 DOM
13. 2026-06-03
    days on market $180,000 Active 28 DOM
14. 2026-06-02
    days on market $180,000 Active 27 DOM
15. 2026-06-01
    days on market $180,000 Active 26 DOM
16. 2026-05-31
    days on market $180,000 Active 25 DOM
17. 2026-05-30
    days on market $180,000 Active 24 DOM
18. 2026-05-06
    listed $180,000 Active 740-char remark
19. 2025-12-23
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $23,678
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$1,697
• − Repairs & maintenance: −$1,894
• − Management: −$1,894
• − Depreciation: −$5,236
• Taxable income: $173
• Est. tax owed @ 24.0%: −$41
• After-tax cash flow: $2,939/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

2 events — show timeline

• 2026-05-06 Listed $180,000 NTREIS
• 2025-12-23 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $10,780 · -15.8% YoY. Source: county tax records.