2217 Ross Ave · Waco, TX 76706

$100,000

3 bd · 1.0 ba · 1,230 sqft · SingleFamily public records · 6 Days on market

Built 1948 8,250 sqft lot

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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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Key facts

• 8,250 sq ft lot
• Built 1948
• Listed 6 days

Property features AI

Finance

• Other: Property is not attached (detached); Will not subdivide
• Financial info: Treat as clear loan type; No second mortgage
• HOA & community: No association (no HOA)

Exterior

• Parking: Driveway parking
• Security: No specific security features provided
• Utilities: City water; Not in a municipal utility district
• Home design: Single family residence; Residential property; One story
• Construction: Built in 1948; No construction material, roof, or foundation details provided
• Exterior features: Lot under 0.5 acre (approximately 0.1894 acres)

Interior

• Kitchen: Other appliances included
• Bedrooms: 3 bedrooms (primary bedroom on level 1)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating or cooling details provided
• Interior features: Cable TV available; Two total rooms (living area and dining area); One living area; One dining area; One level (single story)
• 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 $100k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.3% 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: Bell'S Hill El (math 31% / reading 31%, grade F, #2,429 of 4,322 statewide, top 57%, 760 students, 96% FRL).
• Market conditions: Rents rising (+1.9%/yr); 317 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 42% of the median local income ($42k/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 $691 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.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% 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 $100,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.47% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.27%
• DSCR: 1.63
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $223,860
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2300 Gurley Ave	0.32mi	3/2.0	1,296 (+5%)	1mo	$239,900	$185	71
2706 Baylor Ave	0.57mi	2/1.0 (-1)	1,196 (-3%)	2mo	$75,000	$63	63
2804 Connor Ave	0.62mi	3/2.0	1,201 (-2%)	2mo	$219,000	$182	62
1511 Gurley Ave	0.61mi	3/1.0	1,170 (-5%)	4mo	$219,900	$188	60
1935 Ross Ave	0.22mi	3/2.0	1,350 (+10%)	12mo	$259,999	$193	60
2329 Connor Ave	0.37mi	3/2.0	1,368 (+11%)	1mo	$169,500	$124	59
2016 Connor Ave	0.41mi	2/2.0 (-1)	1,265 (+3%)	11mo	$210,000	$166	58
1221 S 26th St	0.43mi	4/1.0 (+1)	1,120 (-9%)	11mo	$55,000	$49	51
1012 S 16th St	0.55mi	3/2.0	1,132 (-8%)	8mo	$210,000	$186	51
1510 Cleveland Ave	0.55mi	2/1.0 (-1)	1,100 (-11%)	5mo	$99,500	$90	48
2320 Mistletoe St	0.70mi	3/2.0	1,128 (-8%)	10mo	$214,900	$191	41
2800 Speight Ave	0.73mi	2/1.0 (-1)	1,106 (-10%)	12mo	$99,900	$90	34

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 · 1.86% rent growth · sell at horizon

5-year hold

• IRR: 3.2%
• Equity multiple: 1.12×
• Total profit: $3,437
• Equity at exit: $14,910

10-year hold

• IRR: 11.6%
• Equity multiple: 1.86×
• Total profit: $24,042
• Equity at exit: $8,646

Cash invested: $28,000 (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 76706

• Home prices YoY: -29.1%
• Rents YoY: 1.9%
• Active inventory: 317
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$524
• Tax from tax record: −$262 /mo · $3,142/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $333

Break-even live

Break-even rent $1,048

Max offer price $100,000

Occupancy floor 72%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
700 S 24th St Unit 1 Waco, TX	2.0	1.0	812	$1,200	$1.48	21d	1	0.10mi
1914 Ross Ave Waco, TX	3.0	1.0	1316	$1,495	$1.14	21d	1	0.27mi
2601 Flint Ave Waco, TX	3.0	2.0	1356	$1,720	$1.27	44d	1	0.28mi
2021 Gurley Ave Waco, TX	3.0	2.0	1320	$1,500	$1.14	21d	1	0.30mi
1901 Dutton Ave Waco, TX	2.0	1.0	864	$1,400	$1.62	14d	1	0.32mi
1923 Austin Ave Unit 5202 Waco, TX	2.0	2.5	1265	$1,395	$1.10	21d	1	0.62mi
2300 Washington Ave Waco, TX	3.0	1.0	1232	$1,650	$1.34	14d	1	0.63mi
2900 Austin Ave Waco, TX	2.0	2.0	1176	$1,195	$1.02	44d	1	0.75mi
1342 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	14d	1	0.84mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	21d	1	0.85mi
1326 Park Ave Waco, TX	2.0	2.5	1143	$1,400	$1.22	14d	1	0.85mi
1311 Speight Ave Waco, TX	2.0	2.5	1143	$1,195	$1.05	14d	1	0.88mi
1508 S 13th St Waco, TX	1.0–2.0	1.0	775	$895	$1.15	14d	1	0.89mi
1311 Speight Ave #1311 Waco, TX	2.0	2.5	1143	$1,500	$1.31	21d	1	0.89mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,350	$1.32	21d	2	0.89mi
1226 Baylor Ave Waco, TX	2.0	2.0–2.5	1024	$1,337	$1.31	14d	2	0.89mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	736	$1,095	$1.49	44d	2	0.89mi
1214 Baylor Ave Waco, TX	2.0	2.0	832	$1,020	$1.23	21d	1	0.89mi
1214 Baylor Ave Waco, TX	1.0–2.0	1.0–2.0	832	$945	$1.14	14d	2	0.89mi
1421 S 12th St Waco, TX	2.0	2.0	928	$985	$1.06	14d	3	0.92mi
1348 S 12th St Waco, TX	2.0	2.0	958	$1,300	$1.36	21d	1	0.94mi
608 N 23rd St Waco, TX	3.0	1.0	1361	$1,695	$1.25	21d	1	0.95mi
615 N 23rd St Waco, TX	2.0	1.0	900	$1,275	$1.42	21d	1	0.96mi
2601 Fort Ave Unit 4 Waco, TX	2.0	1.0	1000	$990	$0.99	44d	1	0.98mi
1300 S 11th St Waco, TX	2.0	2.5	1083	$1,209	$1.12	14d	14	0.99mi
700 S Valley Mills Dr Waco, TX	1.0–2.0	1.0–1.5	850	$995	$1.17	14d	2	0.99mi
1912 S 15th St Unit A Waco, TX	4.0	2.0	1400	$1,850	$1.32	21d	1	1.02mi
1905 S 14th St Waco, TX	4.0	4.0	1500	$3,000	$2.00	21d	1	1.02mi
1905 S 14th St Unit B Waco, TX	4.0	4.0	1200	$550	$0.46	21d	1	1.02mi
2714 Morrow Ave Waco, TX	2.0	1.0	1484	$1,375	$0.93	21d	1	1.13mi
3200 Belmont Dr Unit 3228 Waco, TX	2.0	2.0	995	$1,500	$1.51	14d	1	1.16mi
715 Cleveland Ave Waco, TX	1.0–3.0	1.0–3.0	845	$1,729	$2.04	14d	23	1.18mi
3812 Hiland Dr Waco, TX	3.0	1.0	1124	$995	$0.89	14d	1	1.25mi
716 N 13th St Waco, TX	4.0	2.0	1349	$1,675	$1.24	21d	1	1.25mi
3717 Charlton Ave Waco, TX	2.0	1.0	870	$1,195	$1.37	44d	1	1.26mi
700 Franklin Ave Waco, TX	2.0	2.0	802	$1,500	$1.87	44d	1	1.29mi
1800 Primrose Dr Waco, TX	1.0–4.0	1.0–2.0	942	$1,133	$1.20	14d	33	1.31mi
1911 S 8th St Waco, TX	2.0	1.0	798	$1,198	$1.50	21d	1	1.37mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	21d	1	1.39mi
2005 S 8th St Waco, TX	1.0–2.0	1.0–2.0	685	$1,000	$1.46	14d	2	1.40mi

Listing history 5 events

1. 2026-06-18
   days on market $100,000 Active 6 DOM
2. 2026-06-17
   days on market $100,000 Active 5 DOM
3. 2026-06-16
   days on market $100,000 Active 4 DOM
4. 2026-06-15
   days on market $100,000 Active 3 DOM
5. 2026-06-13
   listed $100,000 Active 1 DOM

ⓘ 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: $3,142 · $262/mo
• Projected year-2 tax: $3,142 · $262/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 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,632
• − Mortgage interest: −$5,602
• − Property taxes: −$3,142
• − Insurance: −$500
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − Depreciation: −$2,909
• Taxable income: $2,658
• Est. tax owed @ 24.0%: −$638
• After-tax cash flow: $3,357/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): 41,627
• Household income: $41,656
• Rent vs Own: 61.0% rent · 39.0% own
• Severe rent burden: 3883.0

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 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 31% Two or more races 17% Black 15% Asian 3%
• Hispanic origin (detail): Mexican 29%
• Common ancestry: Lithuanian 1% Iranian 1% Romanian 1%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 19% Other Indo-European 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: ▼ -94.31%
• Current HPI: 230.2557
• Rent YoY: ▲ 1.86%
• 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

• 2026-06-12 Listed $100,000 NTREIS
• 2025-02-03 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,142 · +19.6% YoY. Source: county tax records.