807 Garrison St · Waco, TX 76704

$110,000

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 36 Days on market

Built 1955 6,251 sqft lot $95/sqft · 22% below area Est $141k · 22% under ↓ 24% 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 +25.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +7.7/10.0
• 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

Perfectly positioned just minutes from downtown Waco, Baylor University, Cameron Park, and many of the city’s favorite attractions, this property offers exceptional convenience and accessibility. Enjoy quick access to local dining, shopping, entertainment, and outdoor recreation while being centrally located near everything Waco has to offer. Recent upgrades include a brand-new roof and new HVAC system, providing added value, energy efficiency, and peace of mind for the next owner. Looking for your next investment opportunity with immediate income potential? Look no further!

Key facts

• Near cameron park
• New roof
• New hvac system

Tags

• MINUTES FROM DOWNTOWN WACO
• NEAR BAYLOR UNIVERSITY
• NEAR CAMERON PARK
• QUICK ACCESS TO LOCAL DINING
• NEW ROOF
• NEW HVAC SYSTEM

Property features AI

Finance

• Other: Property is not attached and will not subdivide
• Financial info: Listing offers accepted: Cash or Conventional; No second mortgage recorded
• HOA & community: No association

Exterior

• Parking: Detached carport with 1 carport space
• Utilities: Sewer available; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Built in 1955; One story
• Construction: Brick construction; Composition roof; Pillar/post/pier foundation
• Exterior features: Deck and patio; Full wire fencing

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air with gas
• Interior features: One-level layout; Open living and dining areas; Other interior features
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: J H Hines El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 406 students, 98% FRL, charter) — zoned schools average 98% FRL vs 81% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Waco ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 86 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $1,401/mo this rent would consume 55% 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 $761 of loan paydown is wiped out by about $3k 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 36 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 58% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.27% ✓
• Cap rate: 9.12%
• Cash-on-cash: 10.10%
• DSCR: 1.45
• GRM: 6.5

CMA / ARV

• ARV (median comp): $141,061
• List price: $110,000
• Delta: -22.02%
• 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
803 Garrison St	0.02mi	3/1.0	1,244 (+7%)	3mo	$198,500	$160	85
504 Garrison St	0.21mi	2/1.0 (-1)	1,032 (-11%)	6mo	$69,900	$68	62
1124 Texas St	0.49mi	3/2.0	1,216 (+5%)	6mo	$230,000	$189	60
518 Hatton St	0.50mi	3/2.0	1,061 (-8%)	1mo	$179,000	$169	57
1111 Turner St	0.33mi	2/1.0 (-1)	1,036 (-11%)	7mo	$174,900	$169	56
701 Rusk St	0.55mi	3/2.0	1,058 (-9%)	5mo	$159,000	$150	52
1500 J J Flewellen Rd	0.35mi	2/2.0 (-1)	1,286 (+11%)	7mo	$82,500	$64	51
416 Hood St	0.39mi	3/2.0	1,332 (+15%)	4mo	$232,400	$174	50
621 Delano St	0.74mi	3/2.0	1,256 (+8%)	1mo	$219,900	$175	47
401 Mahon Hollow Dr	0.64mi	3/2.0	1,291 (+11%)	2mo	$224,000	$174	46
1016 Preston St	0.43mi	2/1.0 (-1)	989 (-15%)	6mo	$35,000	$35	46
625 Walker St	0.61mi	3/2.0	1,028 (-11%)	6mo	$209,900	$204	44

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: -1.1%
• Equity multiple: 0.96×
• Total profit: $-1,237
• Equity at exit: $16,401

10-year hold

• IRR: 8.7%
• Equity multiple: 1.67×
• Total profit: $20,490
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,401 high
• Mortgage (P&I): −$577
• Tax from tax record: −$225 /mo · $2,698/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $259

Break-even live

Break-even rent $1,073

Max offer price $110,000

Occupancy floor 76%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
825 Garrison St Waco, TX	3.0	2.0	1028	$1,370	$1.33	13d	1	0.06mi
932 Dawson St Waco, TX	3.0	2.0	1028	$1,449	$1.41	13d	1	0.18mi
1212 J J Flewellen Rd Waco, TX	2.0	1.0	844	$1,250	$1.48	44d	1	0.19mi
1107 Chestnut St Waco, TX	2.0	1.0	928	$1,300	$1.40	21d	1	0.26mi
916 Olive St Waco, TX	3.0	2.0	1028	$1,475	$1.43	13d	1	0.32mi
1226 Chestnut St Unit A Waco, TX	3.0	2.0	980	$925	$0.94	21d	1	0.32mi
923 Burgan St Unit A Waco, TX	3.0	2.0	872	$1,015	$1.16	13d	1	0.40mi
925 Burgan St Unit A Waco, TX	3.0	2.0	872	$999	$1.15	13d	1	0.41mi
609 Sherman St Waco, TX	3.0	2.0	1028	$1,449	$1.41	21d	1	0.46mi
1104 Sherman St Waco, TX	2.0	1.0	1120	$1,500	$1.34	44d	1	0.48mi
1319 Tabor St Waco, TX	3.0	1.5	1234	$1,700	$1.38	13d	1	0.49mi
413 Lottie St Unit B Waco, TX	3.0	2.0	872	$1,025	$1.18	13d	1	0.50mi
108 Choctaw Ct Waco, TX	3.0	2.0	1273	$1,600	$1.26	13d	1	0.59mi
1013 Earle Ave Waco, TX	3.0	2.0	1028	$1,525	$1.48	21d	1	0.68mi
804 Earle Ave Unit A Waco, TX	3.0	2.0	872	$1,035	$1.19	13d	1	0.72mi
1008 E Pecan Ave Waco, TX	3.0	1.0	1400	$1,350	$0.96	13d	1	0.73mi
507 Dunbar St Waco, TX	3.0	1.0	841	$1,550	$1.84	21d	1	0.75mi
507 Dunbar St Waco, TX	3.0	1.0	852	$1,450	$1.70	13d	1	0.75mi
2017 Broadway St Waco, TX	3.0	1.0	1247	$1,800	$1.44	44d	1	0.82mi
215 Washington Ave Waco, TX	1.0–4.0	1.0–4.0	919	$1,737	$1.89	21d	1	1.15mi
1403 Strickland St Waco, TX	3.0	2.0	1000	$1,399	$1.40	21d	1	1.42mi
1324 Cherry St Waco, TX	2.0	2.0	1200	$1,700	$1.42	13d	1	1.47mi

Listing history 19 events

1. 2026-06-18
   days on market $110,000 Active 36 DOM
2. 2026-06-17
   days on market $110,000 Active 35 DOM
3. 2026-06-16
   days on market $110,000 Active 34 DOM
4. 2026-06-15
   days on market $110,000 Active 33 DOM
5. 2026-06-14
   days on market $110,000 Active 31 DOM
6. 2026-06-13
   days on market $110,000 Active 30 DOM
7. 2026-06-10
   days on market $110,000 Active 28 DOM
8. 2026-06-09
   days on market $110,000 Active 27 DOM
9. 2026-06-08
   days on market $110,000 Active 26 DOM
10. 2026-06-07
    days on market $110,000 Active 25 DOM
11. 2026-06-05
    days on market $110,000 Active 22 DOM
12. 2026-06-03
    days on market $110,000 Active 21 DOM
13. 2026-06-02
    days on market $110,000 Active 20 DOM
14. 2026-06-01
    days on market $110,000 Active 19 DOM
15. 2026-05-31
    days on market $110,000 Active 18 DOM
16. 2026-05-30
    days on market $110,000 Active 17 DOM
17. 2026-05-14
    listed $145,000 Active 587-char remark
18. 2022-02-03
    price $850
19. 2004-06-29
    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: $2,698 · $225/mo
• Projected year-2 tax: $2,698 · $225/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 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 25 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 58% 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: $16,812
• − Mortgage interest: −$6,162
• − Property taxes: −$2,698
• − Insurance: −$550
• − Repairs & maintenance: −$1,345
• − Management: −$1,345
• − Depreciation: −$3,200
• Taxable income: $1,512
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $2,748/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

-24.1% since first listed

4 events — show timeline

• 2026-05-27 Price Changed $110,000 NTREIS
• 2026-05-14 Listed $145,000 NTREIS
• 2022-02-03 Price Changed $850 RENT.
• 2004-06-29 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,698 · +19.6% YoY. Source: county tax records.