108 N Lakeview Dr · Lacy-Lakeview, TX 76705

$80,000

2 bd · 1.0 ba · 874 sqft · SingleFamily public records · 140 Days on market

Built 1951 6,316 sqft lot $92/sqft · 46% below area Est $147k · 46% under ↓ 36% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.1/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

Key facts

• New roof
• 6,316 sq ft lot
• Garage

Tags

• CAMERON PARK COMMUNITY
• EASY ACCESS TO CAMERON PARK
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 5.1% in Lacy-Lakeview — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Connally ISD (suburban): math 16% / reading 25% proficiency, ranked #781 of 826 in TX (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.2%/yr); 297 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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 + 2.2% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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 1951 — 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. 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: 1.57% ✓
• Cap rate: 11.72%
• Cash-on-cash: 19.40%
• DSCR: 1.86
• GRM: 5.3

CMA / ARV

• ARV (median comp): $147,385
• List price: $80,000
• Delta: -45.72%
• 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
108 N Lakeview Dr	0.00mi	2/1.0	874 (0%)	1mo	$80,000	$92	99
301 E Craven Ave	0.24mi	3/1.0 (+1)	908 (+4%)	5mo	$152,000	$167	73
211 Stanfield Dr	0.23mi	2/1.0	744 (-15%)	8mo	$123,500	$166	58
108 N Oak Dr	0.13mi	2/1.0	984 (+13%)	20mo	$135,000	$137	56
216 Ave Dr E	0.33mi	2/1.0	960 (+10%)	15mo	$139,000	$145	56
201 N Oak Dr	0.20mi	3/2.0 (+1)	988 (+13%)	15mo	$172,500	$175	48

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 · 2.2% rent growth · sell at horizon

5-year hold

• IRR: 10.5%
• Equity multiple: 1.41×
• Total profit: $9,162
• Equity at exit: $11,928

10-year hold

• IRR: 18.9%
• Equity multiple: 2.51×
• Total profit: $33,896
• Equity at exit: $6,917

Cash invested: $22,400 (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 76705

• Home prices YoY: -29.6%
• Rents YoY: 2.2%
• Active inventory: 297
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,253 high
• Mortgage (P&I): −$420
• Tax from tax record: −$175 /mo · $2,100/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $362

Break-even live

Break-even rent $795

Max offer price $80,000

Occupancy floor 66%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 E Craven Ave Waco, TX	2.0	1.0	750	$1,075	$1.43	13d	1	0.07mi
229 E Craven Ave Waco, TX	3.0	2.0	1052	$1,325	$1.26	44d	1	0.28mi
225 E Craven Ave Waco, TX	3.0	2.0	1052	$1,400	$1.33	44d	1	0.29mi
105 N Lacy Dr Waco, TX	3.0	1.0–2.0	700	$1,374	$1.96	13d	11	0.47mi
320 S Rita St Waco, TX	3.0	1.0	1040	$1,600	$1.54	13d	1	0.60mi
4245 Meyers Ln Waco, TX	2.0	1.0	772	$1,175	$1.52	21d	1	0.70mi
4245 Meyers Ln Waco, TX	2.0	2.0	772	$1,745	$2.26	13d	1	0.70mi
3500 Meyers Ln Waco, TX	1.0–2.0	1.0–2.0	684	$1,125	$1.64	13d	1	0.76mi
39 Addi Ln Lacy Lakeview, TX	1.0	2.0	1050	$1,275	$1.21	13d	1	1.08mi

Listing history 9 events

1. 2026-05-11
   status Pending 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

2. 2026-05-08
   price $80,000 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

3. 2026-04-13
   price $95,000 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

4. 2026-04-03
   price $105,000 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

5. 2026-03-09
   price $113,000 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

6. 2026-02-13
   price $120,000 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

7. 2026-01-23
   price $122,500 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

8. 2025-12-22
   listed $125,000 Active 855-char remark

   Show marketing remark (855 chars)

   Located in Connally ISD in Waco, Tx… this property at 108 N Lakeview is the perfect canvas for your dream home or next investment. With its efficient layout and endless potential, this fixer-upper is waiting for you to bring it to life. Featuring 2 bedrooms and 1 bath, this 874 square foot gem is just 7-15minutes away from all the excitement of downtown Waco and Baylor University. This is move in ready with some updating at the interior and a brand new roof as of December 2025. Plus, you'll love being close to the vibrant and welcoming Cameron Park community, with easy access to the nearby Cameron Park , the Zoo, Texas state technical College and McLennan Community College. Don't miss this incredible opportunity to make this property your very own charming property. Get ready to be inspired and let your creativity run wild in this home.

9. 2016-03-28
   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: $2,100 · $175/mo
• Projected year-2 tax: $2,100 · $175/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 24 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: $15,037
• − Mortgage interest: −$4,481
• − Property taxes: −$2,100
• − Insurance: −$400
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − Depreciation: −$2,327
• Taxable income: $3,323
• Est. tax owed @ 24.0%: −$797
• After-tax cash flow: $3,547/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: Connally ISD
• NCES district ID: 4814970
• Math proficiency: 16% ▼ -10.00%
• Reading proficiency: 25% ▼ -5.00%
• Median HH income: $35,388
• Composite: 16.9/100
• National rank: #9141
• State rank: #781 of 826 in TX

Livability — Lacy-Lakeview

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lacy-Lakeview, TX
• County: McLennan County · 213,088 people
• City population: 31,616
• Metro: Waco, TX
• Population (ZIP): 31,616
• Household income: $58,236
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 668.0

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 0.68)
• Race & ethnicity: White 43% Hispanic / Latino 32% Two or more races 20% Black 18% Native American 1% Asian 1%
• Hispanic origin (detail): Mexican 31%
• Common ancestry: Slovak 2% Lithuanian 1% Serbian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 24% Other Indo-European 1% German/W. Germanic 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: ▼ -91.45%
• Current HPI: 217.9429
• Rent YoY: ▲ 2.20%
• 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

-36.0% since first listed

9 events — show timeline

• 2026-05-11 Pending — NTREIS
• 2026-05-08 Price Changed $80,000 NTREIS
• 2026-04-13 Price Changed $95,000 NTREIS
• 2026-04-03 Price Changed $105,000 NTREIS
• 2026-03-09 Price Changed $113,000 NTREIS
• 2026-02-13 Price Changed $120,000 NTREIS
• 2026-01-23 Price Changed $122,500 NTREIS
• 2025-12-22 Listed $125,000 NTREIS
• 2016-03-28 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $2,100 · +10.9% YoY. Source: county tax records.