2526 N 17th St · Waco, TX 76708

$75,000

2 bd · 1.0 ba · 1,326 sqft · SingleFamily public records · 67 Days on market

Built 1920 9,075 sqft lot $57/sqft · 45% below area Est $137k · 45% under

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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
• 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 MLS

3 bd, 1 bath fixer upper in North Waco. Priced below tax appraisal. To enter house, pick up key from Charles Spivey Real Estate office, 4117 Roselawn (next to UHaul on Valley Mills Dr).

Key facts

• 9,075 sq ft lot
• Built 1920
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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: schools D, crime D, commute F.
• 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.
• Market conditions: Rents soft (-0.8%/yr); 376 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 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 $519 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 + 0.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — 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 $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 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 1920 — 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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.90% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.75%
• DSCR: 2.32
• GRM: 4.4

CMA / ARV

• ARV (median comp): $136,746
• List price: $75,000
• Delta: -45.15%
• 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
1711 Reuter Ave	0.26mi	2/2.0	1,280 (-4%)	6mo	$199,800	$156	73
1630 Mckenzie Ave	0.16mi	2/1.0	1,180 (-11%)	2mo	$119,000	$101	73
1714 Reuter Ave	0.24mi	3/2.0 (+1)	1,362 (+3%)	4mo	$230,000	$169	73
2111 Herring Ave	0.36mi	3/1.5 (+1)	1,419 (+7%)	10mo	$100,000	$70	56
528 Sedwick Ave	0.70mi	2/2.0	1,352 (+2%)	11mo	$219,900	$163	51
1606 Bryan Ave	0.48mi	3/2.0 (+1)	1,177 (-11%)	6mo	$209,900	$178	45
2005 Avondale St	0.73mi	3/1.5 (+1)	1,280 (-4%)	11mo	$144,900	$113	44
1641 N 17th St	0.73mi	2/1.0	1,209 (-9%)	11mo	$163,000	$135	42
2416 Mcferrin Ave	0.70mi	3/2.0 (+1)	1,420 (+7%)	9mo	$210,000	$148	39
1632 N 17th St	0.74mi	3/2.0 (+1)	1,374 (+4%)	13mo	$240,000	$175	39
1541 Clark Ave	0.69mi	3/2.0 (+1)	1,176 (-11%)	8mo	$175,000	$149	34
2509 Alexander Ave	0.65mi	3/2.0 (+1)	1,505 (+14%)	12mo	$269,000	$179	28

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: 20.6%
• Equity multiple: 1.81×
• Total profit: $16,909
• Equity at exit: $11,183

10-year hold

• IRR: 26.5%
• Equity multiple: 2.98×
• Total profit: $41,597
• Equity at exit: $6,485

Cash invested: $21,000 (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: 376
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,424 high
• Mortgage (P&I): −$393
• Tax from tax record: −$180 /mo · $2,158/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $521

Break-even live

Break-even rent $765

Max offer price $75,000

Occupancy floor 58%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	21d	1	0.12mi
1920 Lyle Ave Waco, TX	2.0	1.0	1519	$1,200	$0.79	21d	1	0.21mi
1920 Lyle Ave Waco, TX	2.0	1.0	1519	$1,200	$0.79	43d	1	0.21mi
2121 Lyle Ave Waco, TX	2.0	1.0	1080	$1,000	$0.93	13d	1	0.36mi
1920 Windsor Ave Waco, TX	3.0	1.0	1216	$1,200	$0.99	43d	1	0.51mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	13d	1	0.53mi
2401 McKenzie Ave Waco, TX	3.0	1.5	1288	$1,300	$1.01	21d	1	0.57mi
2402 Proctor Ave Waco, TX	1.0	1.0	1000	$950	$0.95	13d	1	0.59mi
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	43d	1	0.61mi
2504 Lyle Ave Waco, TX	3.0	2.0	1028	$1,475	$1.43	21d	1	0.63mi
2505 Proctor Ave Waco, TX	3.0	2.0	1588	$1,550	$0.98	21d	1	0.66mi
2601 Herring Ave Unit 1 Waco, TX	3.0	1.0	989	$1,295	$1.31	43d	1	0.70mi
2600 McKenzie Ave Waco, TX	3.0	1.0	1096	$1,395	$1.27	21d	1	0.71mi
3400 Adeline Dr Waco, TX	2.0	1.0	1232	$1,150	$0.93	43d	1	0.73mi
2704 Herring Ave Waco, TX	2.0	2.0	1286	$1,750	$1.36	21d	1	0.78mi
2712 Mitchell Ave Waco, TX	3.0	1.0	1120	$1,300	$1.16	21d	1	0.78mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	21d	1	0.79mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	0.79mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	21d	1	0.79mi
2717 Alexander Ave Waco, TX	2.0	2.0	1200	$2,000	$1.67	21d	1	0.80mi
2621 Windsor Ave Waco, TX	2.0	1.0	1108	$1,175	$1.06	21d	1	0.83mi
1821 Algonquin St Waco, TX	2.0	1.0	930	$1,150	$1.24	43d	1	0.86mi
2805 Mitchell Ave Waco, TX	2.0	1.0	1024	$1,145	$1.12	13d	1	0.87mi
2714 Windsor Ave Waco, TX	2.0	1.0	979	$1,300	$1.33	43d	1	0.92mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	43d	1	0.93mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	43d	1	1.04mi
1901 N 28th St Waco, TX	3.0	2.0	1794	$1,950	$1.09	21d	1	1.06mi
2612 Alice Ave Waco, TX	2.0	1.0	964	$1,250	$1.30	21d	1	1.15mi
2001 Bosque Blvd Waco, TX	3.0	1.0	1628	$1,100	$0.68	43d	1	1.18mi
1906 Bosque Blvd Unit 1 Waco, TX	1.0	1.0	880	$875	$0.99	21d	1	1.20mi
1110 N 11th St Waco, TX	3.0	2.0	1172	$1,495	$1.28	21d	1	1.21mi
1104 N 11th St Waco, TX	3.0	2.0	1231	$1,650	$1.34	21d	1	1.22mi
1000 N 19th St Waco, TX	3.0	1.5	1800	$2,050	$1.14	21d	1	1.25mi
930 N 11th St Waco, TX	1.0	1.0	924	$690	$0.75	21d	1	1.27mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	21d	1	1.28mi
2100 N 33rd St Waco, TX	3.0	3.0	1858	$2,200	$1.18	43d	1	1.31mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	21d	1	1.37mi
3310 MacArthur Dr Waco, TX	3.0	2.0	1586	$2,000	$1.26	13d	1	1.39mi
2705 Bosque Blvd Waco, TX	3.0	2.0	1028	$1,599	$1.56	43d	1	1.39mi
2724 Bosque Blvd Waco, TX	2.0	1.0	1120	$1,100	$0.98	21d	1	1.44mi

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 67 DOM
2. 2026-06-17
   days on market $75,000 Active 66 DOM
3. 2026-06-16
   days on market $75,000 Active 65 DOM
4. 2026-06-15
   days on market $75,000 Active 64 DOM
5. 2026-06-14
   days on market $75,000 Active 62 DOM
6. 2026-06-13
   days on market $75,000 Active 61 DOM
7. 2026-06-10
   days on market $75,000 Active 59 DOM
8. 2026-06-09
   days on market $75,000 Active 58 DOM
9. 2026-06-08
   days on market $75,000 Active 57 DOM
10. 2026-06-07
    days on market $75,000 Active 56 DOM
11. 2026-06-05
    days on market $75,000 Active 53 DOM
12. 2026-06-03
    days on market $75,000 Active 52 DOM
13. 2026-06-02
    days on market $75,000 Active 51 DOM
14. 2026-06-01
    days on market $75,000 Active 50 DOM
15. 2026-05-31
    days on market $75,000 Active 49 DOM
16. 2026-05-30
    days on market $75,000 Active 48 DOM
17. 2026-04-14
    status Active 186-char remark

    Show marketing remark (186 chars)

    3 bd, 1 bath fixer upper in North Waco. Priced below tax appraisal. To enter house, pick up key from Charles Spivey Real Estate office, 4117 Roselawn (next to UHaul on Valley Mills Dr).

18. 2026-04-08
    status Pending 186-char remark

    Show marketing remark (186 chars)

    3 bd, 1 bath fixer upper in North Waco. Priced below tax appraisal. To enter house, pick up key from Charles Spivey Real Estate office, 4117 Roselawn (next to UHaul on Valley Mills Dr).

19. 2026-04-03
    listed $75,000 Active 186-char remark

    Show marketing remark (186 chars)

    3 bd, 1 bath fixer upper in North Waco. Priced below tax appraisal. To enter house, pick up key from Charles Spivey Real Estate office, 4117 Roselawn (next to UHaul on Valley Mills Dr).

ⓘ 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: $2,158 · $180/mo
• Projected year-2 tax: $2,158 · $180/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 3/10 Moderate
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,090
• − Mortgage interest: −$4,201
• − Property taxes: −$2,158
• − Insurance: −$375
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$2,182
• Taxable income: $5,439
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $4,943/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

3 events — show timeline

• 2026-04-14 Relisted — NTREIS
• 2026-04-08 Pending — NTREIS
• 2026-04-03 Listed $75,000 NTREIS

Property tax history

+8.0%/yr

Latest (2025): $2,158 · +0.7% YoY. Source: county tax records.