1109 Turner St · Waco, TX 76704

$39,900

3 bd · 1.0 ba · 1,148 sqft · SingleFamily public records · 30 Days on market

Built 1925 7,013 sqft lot $35/sqft · 72% below area ↓ 20% since listing

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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
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks

Total remodel needed. 3 bedroom 1 bath blank canvas. Middle bedroom is large enough to consider a jack and jill 2nd bathroom. Large living room and large kitchen. Really sturdy kitchen cabinets. Review agent remarks before showing.

Key facts

• 7,013 sq ft lot
• Built 1925
• Listed 30 days

Property features AI

Finance

• Other: Possession at closing/funding; Listing is active and for sale; Directions: Waco Dr to Turner St, half mile down on right
• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: No homeowners association

Exterior

• Parking: Shared driveway; No carport or covered parking spaces listed
• Utilities: City water; City sewer; Electricity available; Not in a municipal utility district
• Home design: Single family residence; Residential property; Built in 1925; One story
• Construction: Year built 1925
• Exterior features: Lot smaller than 0.5 acre (about 0.161 acres); Subdivision: Davis J F Tr

Interior

• Kitchen: No appliances included
• Bedrooms: Primary bedroom (12 x 12) on main level; Total of 3 bedrooms
• Bathrooms: 1 full bathroom
• Interior features: One-level home; One living area and one dining area; Other interior features
• Laundry & utility: No washer/dryer or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $861 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 32.2% 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: West Avenue El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 289 students, 96% FRL).
• Market conditions: 86 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,439/mo this rent would consume 57% of the median local household income ($30k/yr) (locally 603% 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 $276 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; major wind risk, 59% 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 $39,301 (1.5% below list)

Questions for the listing agent

1. Built in 1925 — 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: 3.61% ✓
• Cap rate: 32.20%
• Cash-on-cash: 92.53%
• DSCR: 5.12
• GRM: 2.3

CMA / ARV

• ARV (median comp): $143,637
• List price: $39,900
• Delta: -72.22%
• 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
1111 Turner St	0.01mi	2/1.0 (-1)	1,036 (-10%)	7mo	$174,900	$169	72
803 Garrison St	0.34mi	3/1.0	1,244 (+8%)	3mo	$198,500	$160	68
504 Dearborn St	0.38mi	3/1.5	1,068 (-7%)	8mo	$185,000	$173	62
1106 Chestnut St	0.48mi	3/1.0	1,204 (+5%)	9mo	$165,000	$137	62
1016 Preston St	0.12mi	2/1.0 (-1)	989 (-14%)	6mo	$35,000	$35	61
521 E Lee St	0.41mi	2/2.0 (-1)	1,200 (+4%)	9mo	$139,900	$117	57
401 Mahon Hollow Dr	0.38mi	3/2.0	1,291 (+12%)	2mo	$224,000	$174	56
621 Delano St	0.55mi	3/2.0	1,256 (+9%)	1mo	$219,900	$175	54
701 Rusk St	0.58mi	3/2.0	1,058 (-8%)	5mo	$159,000	$150	52
504 Garrison St	0.45mi	2/1.0 (-1)	1,032 (-10%)	6mo	$69,900	$68	52
1500 J J Flewellen Rd	0.31mi	2/2.0 (-1)	1,286 (+12%)	7mo	$82,500	$64	51
1124 Texas St	0.75mi	3/2.0	1,216 (+6%)	6mo	$230,000	$189	46

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 93.3%
• Equity multiple: 5.33×
• Total profit: $48,422
• Equity at exit: $5,949

10-year hold

• IRR: 96.1%
• Equity multiple: 11.11×
• Total profit: $112,901
• Equity at exit: $3,450

Cash invested: $11,172 (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 76704

• Home prices YoY: -2.7%
• Active inventory: 86
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,439 high
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $861

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 35%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1104 Sherman St Waco, TX	2.0	1.0	1120	$1,500	$1.34	43d	1	0.17mi
1212 J J Flewellen Rd Waco, TX	2.0	1.0	844	$1,250	$1.48	43d	1	0.20mi
609 Sherman St Waco, TX	3.0	2.0	1028	$1,449	$1.41	21d	1	0.33mi
825 Garrison St Waco, TX	3.0	2.0	1028	$1,370	$1.33	13d	1	0.34mi
108 Choctaw Ct Waco, TX	3.0	2.0	1273	$1,600	$1.26	13d	1	0.36mi
932 Dawson St Waco, TX	3.0	2.0	1028	$1,449	$1.41	13d	1	0.45mi
1107 Chestnut St Waco, TX	2.0	1.0	928	$1,300	$1.40	21d	1	0.51mi
507 Dunbar St Waco, TX	3.0	1.0	841	$1,550	$1.84	21d	1	0.51mi
507 Dunbar St Waco, TX	3.0	1.0	852	$1,450	$1.70	13d	1	0.51mi
916 Olive St Waco, TX	3.0	2.0	1028	$1,475	$1.43	13d	1	0.62mi
1226 Chestnut St Unit A Waco, TX	3.0	2.0	980	$925	$0.94	21d	1	0.63mi
2017 Broadway St Waco, TX	3.0	1.0	1247	$1,800	$1.44	43d	1	0.69mi
923 Burgan St Unit A Waco, TX	3.0	2.0	872	$1,015	$1.16	13d	1	0.71mi
925 Burgan St Unit A Waco, TX	3.0	2.0	872	$999	$1.15	13d	1	0.71mi
804 Earle Ave Unit A Waco, TX	3.0	2.0	872	$1,035	$1.19	13d	1	0.80mi
1319 Tabor St Waco, TX	3.0	1.5	1234	$1,700	$1.38	13d	1	0.80mi
413 Lottie St Unit B Waco, TX	3.0	2.0	872	$1,025	$1.18	13d	1	0.82mi
1013 Earle Ave Waco, TX	3.0	2.0	1028	$1,525	$1.48	21d	1	0.85mi
1008 E Pecan Ave Waco, TX	3.0	1.0	1400	$1,350	$0.96	13d	1	0.89mi
215 Washington Ave Waco, TX	1.0–4.0	1.0–4.0	919	$1,737	$1.89	21d	1	0.96mi
1606 N 9th St Waco, TX	4.0	2.0	1392	$1,525	$1.10	21d	1	1.18mi
718 Garland Ave Unit b Waco, TX	3.0	1.0	838	$985	$1.18	13d	1	1.21mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	43d	1	1.34mi
712 Proctor Ave Waco, TX	4.0	2.0	1184	$1,450	$1.22	21d	1	1.35mi
1110 N 11th St Waco, TX	3.0	2.0	1172	$1,495	$1.28	21d	1	1.35mi
1104 N 11th St Waco, TX	3.0	2.0	1231	$1,650	$1.34	21d	1	1.35mi
700 Franklin Ave Waco, TX	2.0	2.0	802	$1,500	$1.87	43d	1	1.37mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	21d	1	1.38mi
1216 Tennessee Ave Unit B Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	1.44mi
1216 Tennessee Ave Waco, TX	3.0	2.0	872	$1,250	$1.43	21d	1	1.44mi
700 S 4th St Waco, TX	1.0–3.0	1.0–2.0	889	$1,400	$1.57	13d	12	1.48mi

Listing history 10 events

1. 2026-06-18
   days on market $39,900 Active 30 DOM
2. 2026-06-17
   status $39,900 Active 29 DOM
3. 2026-06-03
   status $39,900 Pending 29 DOM
4. 2026-06-02
   days on market $39,900 Active 29 DOM
5. 2026-06-01
   days on market $39,900 Active 28 DOM
6. 2026-05-31
   days on market $39,900 Active 27 DOM
7. 2026-05-30
   days on market $39,900 Active 26 DOM
8. 2026-05-04
   listed $49,900 Active 236-char remark
9. 2025-09-29
   soldstatus
10. 1997-10-30
    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 5/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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: $17,274
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$1,161
• Taxable income: $10,316
• Est. tax owed @ 24.0%: −$2,476
• After-tax cash flow: $7,861/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): 7,018
• Household income: $30,349
• Rent vs Own: 68.4% rent · 31.6% own
• Severe rent burden: 603.0

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: Predominantly Black (67%)
• Race & ethnicity: Black 67% Hispanic / Latino 19% Two or more races 11% White 10%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 2%
• Foreign-born: 6% · Canada
• Languages at home: 86% English-only · Spanish 14%

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: ▼ -5.09%
• Current HPI: 181.8051
• Rent YoY: —
• 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

-20.0% since first listed

6 events — show timeline

• 2026-06-17 Relisted — NTREIS
• 2026-06-03 Pending — NTREIS
• 2026-05-26 Price Changed $39,900 NTREIS
• 2026-05-04 Listed $49,900 NTREIS
• 2025-09-29 Sold (Public Records) — Public Records
• 1997-10-30 Sold (Public Records) — Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,393 · +1.0% YoY. Source: county tax records.