916 Turner St · Waco, TX 76704

$69,900

3 bd · 2.0 ba · 1,117 sqft · SingleFamily public records · 1 Days on market

Built 1913 6,273 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 +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

Investor Special in Waco, TX! Flexible floor plan with multiple exit strategies. Property can function as a 3 bed - 2 bath residence or may offer duplex-triplex potential, subject to buyer verification. Livable as-is but would benefit from an upgrade, making it an excellent opportunity for a fix-and-flip, a value-add rental, or a home to make your own. Strong upside potential in a growing Waco market

Key facts

• 6,273 sq ft lot
• Garage
• Built 1913

Property features AI

Finance

• Other: Possession: Negotiable
• Financial info: Listing terms: Cash or Conventional; Treat as clear loan type; No second mortgage indicated
• HOA & community: No association (no HOA)

Exterior

• Parking: Carport; Driveway; One covered/carport space; Has attached garage (no garage spaces listed)
• Utilities: City water service; City sewer service; Not in a municipal utility district
• Home design: Single-family residence (residential); One story; Property is not attached
• Construction: Built in 1913; Composition roof; Slab foundation
• Exterior features: Lot under 0.5 acre (approximately 0.144 acres); City water; City sewer; Subdivision: Ashburn

Interior

• Kitchen: Kitchen (level 1) — approximately 14 x 15; Appliances: Other
• Bedrooms: Primary bedroom (level 1) — approximately 12 x 12; Bedroom (level 1) — approximately 10 x 10; Bedroom (level 1) — approximately 10 x 10
• Flooring: Concrete flooring; Laminate flooring; Wood flooring
• Bathrooms: Two full bathrooms; Primary bathroom (level 1) — approximately 8 x 9; Bathroom (level 1) — approximately 7 x 8
• Heating & cooling: Window unit(s) for cooling
• Interior features: Seven total rooms; One living area; One-level layout; Other interior features
• Laundry & utility: No specific washer/dryer details listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 15.3% 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: South Waco El (math 8% / reading 22%, grade F, #4,021 of 4,322 statewide, top 94%, 462 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 $1,438/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 $483 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 + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago 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 3.7% of price; built in 1913 — 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1913 — 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: 2.06% ✓
• Cap rate: 15.28%
• Cash-on-cash: 32.08%
• DSCR: 2.43
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $167,550
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 Turner St	0.13mi	2/1.0 (-1)	1,036 (-7%)	7mo	$174,900	$169	67
701 Rusk St	0.47mi	3/2.0	1,058 (-5%)	5mo	$159,000	$150	65
504 Dearborn St	0.45mi	3/1.5	1,068 (-4%)	8mo	$185,000	$173	63
1016 Preston St	0.08mi	2/1.0 (-1)	989 (-12%)	6mo	$35,000	$35	63
803 Garrison St	0.36mi	3/1.0	1,244 (+11%)	3mo	$198,500	$160	58
521 E Lee St	0.37mi	2/2.0 (-1)	1,200 (+7%)	9mo	$139,900	$117	58
1222 Chestnut St	0.62mi	3/1.5	1,080 (-3%)	9mo	$115,000	$106	56
1106 Chestnut St	0.46mi	3/1.0	1,204 (+8%)	9mo	$165,000	$137	54
504 Garrison St	0.42mi	2/1.0 (-1)	1,032 (-8%)	6mo	$69,900	$68	54
604 Garrison St	0.37mi	2/1.0 (-1)	960 (-14%)	0mo	$114,900	$120	50
1144 Faulkner Ln	0.41mi	3/1.0	972 (-13%)	8mo	$162,000	$167	49
621 Delano St	0.66mi	3/2.0	1,256 (+12%)	1mo	$219,900	$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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.2%
• Equity multiple: 2.13×
• Total profit: $22,100
• Equity at exit: $10,422

10-year hold

• IRR: 34.8%
• Equity multiple: 4.20×
• Total profit: $62,568
• Equity at exit: $6,044

Cash invested: $19,572 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,438 high
• Mortgage (P&I): −$367
• Tax from tax record: −$217 /mo · $2,607/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $523

Break-even live

Break-even rent $776

Max offer price $69,900

Occupancy floor 59%

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: $17,475
• Closing costs: $2,097
• 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
609 Sherman St Waco, TX	3.0	2.0	1028	$1,449	$1.41	21d	1	0.24mi
1212 J J Flewellen Rd Waco, TX	2.0	1.0	844	$1,250	$1.48	43d	1	0.25mi
108 Choctaw Ct Waco, TX	3.0	2.0	1273	$1,600	$1.26	13d	1	0.30mi
825 Garrison St Waco, TX	3.0	2.0	1028	$1,370	$1.33	13d	1	0.34mi
1107 Chestnut St Waco, TX	2.0	1.0	928	$1,300	$1.40	21d	1	0.45mi
932 Dawson St Waco, TX	3.0	2.0	1028	$1,449	$1.41	13d	1	0.47mi
507 Dunbar St Waco, TX	3.0	1.0	841	$1,550	$1.84	21d	1	0.60mi
507 Dunbar St Waco, TX	3.0	1.0	852	$1,450	$1.70	13d	1	0.60mi
1226 Chestnut St Unit A Waco, TX	3.0	2.0	980	$925	$0.94	21d	1	0.60mi
916 Olive St Waco, TX	3.0	2.0	1028	$1,475	$1.43	13d	1	0.63mi
804 Earle Ave Unit A Waco, TX	3.0	2.0	872	$1,035	$1.19	13d	1	0.71mi
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	0.72mi
1319 Tabor St Waco, TX	3.0	1.5	1234	$1,700	$1.38	13d	1	0.75mi
1013 Earle Ave Waco, TX	3.0	2.0	1028	$1,525	$1.48	21d	1	0.77mi
2017 Broadway St Waco, TX	3.0	1.0	1247	$1,800	$1.44	43d	1	0.78mi
413 Lottie St Unit B Waco, TX	3.0	2.0	872	$1,025	$1.18	13d	1	0.79mi
1008 E Pecan Ave Waco, TX	3.0	1.0	1400	$1,350	$0.96	13d	1	0.81mi
215 Washington Ave Waco, TX	1.0–4.0	1.0–4.0	919	$1,737	$1.89	21d	1	0.90mi
1606 N 9th St Waco, TX	4.0	2.0	1392	$1,525	$1.10	21d	1	1.20mi
718 Garland Ave Unit b Waco, TX	3.0	1.0	838	$985	$1.18	13d	1	1.22mi
700 Franklin Ave Waco, TX	2.0	2.0	802	$1,500	$1.87	43d	1	1.30mi
1110 N 11th St Waco, TX	3.0	2.0	1172	$1,495	$1.28	21d	1	1.34mi
1104 N 11th St Waco, TX	3.0	2.0	1231	$1,650	$1.34	21d	1	1.34mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	43d	1	1.34mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	21d	1	1.35mi
712 Proctor Ave Waco, TX	4.0	2.0	1184	$1,450	$1.22	21d	1	1.39mi
700 S 4th St Waco, TX	1.0–3.0	1.0–2.0	889	$1,400	$1.57	13d	12	1.39mi
1216 Tennessee Ave Unit B Waco, TX	3.0	2.0	872	$1,350	$1.55	21d	1	1.45mi
1216 Tennessee Ave Waco, TX	3.0	2.0	872	$1,250	$1.43	21d	1	1.45mi

Listing history 2 events

1. 2026-06-17
   remarks 403-char remark
2. 2026-06-17
   listed $69,900 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: $2,607 · $217/mo
• Projected year-2 tax: $2,607 · $217/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 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 · 25 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: $17,259
• − Mortgage interest: −$3,915
• − Property taxes: −$2,607
• − Insurance: −$350
• − Repairs & maintenance: −$1,381
• − Management: −$1,381
• − Depreciation: −$2,033
• Taxable income: $5,592
• Est. tax owed @ 24.0%: −$1,342
• After-tax cash flow: $4,937/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

+133.8% since first listed

3 events — show timeline

• 2026-06-17 Listed $69,900 NTREIS
• 2016-02-25 Listing Removed — NTREIS
• 2016-01-29 Listed $29,900 NTREIS

Property tax history

+8.2%/yr

Latest (2025): $2,607 · -1.1% YoY. Source: county tax records.