3412 Brook Cir · Waco, TX 76710

$165,000

4 bd · 4.0 ba · 1,289 sqft · MultiFamily · 240 Days on market

Built 1948 Fair condition 8,015 sqft lot $128/sqft · at area comps Est $160k · at est. ↓ 6% since listing

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Why this score? — see what drove the C- 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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• ARV discount +6.1/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fully Occupied Duplex in Prime Waco Location! Fully Occupied Duplex in the Heart of Waco! Strong investment opportunity in a prime Waco location! This income-producing duplex features two well-maintained 1-bedroom, 1-bath units, both currently tenant-occupied, delivering immediate and consistent rental income. Each unit offers comfortable living space, private entrances, and a convenient single-story layout—ideal for easy management and long-term tenant appeal. Perfectly situated near shopping, dining, schools, and major roadways, this property combines steady cash flow, low-maintenance ownership, and strong rental demand in a growing market. Whether you’re expanding your portfolio or seeking your next reliable income property, this duplex checks every box. Also available as part of package deal MLS: 21191915

Key facts

• Near schools
• Near dining
• Near shopping

Tags

• INCOME PRODUCING DUPLEX
• PRIVATE ENTRANCES
• SINGLE STORY LAYOUT
• NEAR SHOPPING
• NEAR DINING
• NEAR SCHOOLS

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $165k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $320 ($4k/yr) — positive. Per door: $160/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 rising (+2.4%/yr); 186 active listings in the ZIP; 35 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).
• This rent runs 38% of the median local income ($58k/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 $1k of loan paydown is wiped out by about $5k 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 240 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 240 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (median comp): $159,995
• List price: $165,000
• Delta: 3.13%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.84×
• Total profit: $-7,442
• Equity at exit: $24,602

10-year hold

• IRR: 4.7%
• Equity multiple: 1.33×
• Total profit: $15,425
• Equity at exit: $14,266

Cash invested: $46,200 (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 76710

• Rents YoY: 2.4%
• Active inventory: 186
• Price-to-rent: 14.9×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $320

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,848
Total (2 units)			$1,848

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3121 Colonial Ave Waco, TX	3.0	2.0	1085	$1,600	$1.47	43d	1	0.27mi
3121 Colonial Ave Waco, TX	3.0	2.0	1085	$1,600	$1.47	21d	1	0.27mi
3621 Gorman Ave Waco, TX	3.0	1.5	1086	$1,950	$1.80	13d	1	0.36mi
3125 Ethel Ave Waco, TX	3.0	2.0	1760	$1,900	$1.08	21d	1	0.37mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	21d	1	0.59mi
3821 Lasker Ave Waco, TX	3.0	2.0	1209	$1,850	$1.53	21d	1	0.61mi
1113 N New Rd Waco, TX	3.0	2.0	1326	$1,620	$1.22	21d	1	0.62mi
2705 Bosque Blvd Waco, TX	3.0	2.0	1028	$1,599	$1.56	43d	1	0.63mi
3532 Windsor Ave Waco, TX	3.0	2.0	1100	$1,475	$1.34	13d	1	0.79mi
1901 N 28th St Waco, TX	3.0	2.0	1794	$1,950	$1.09	21d	1	0.82mi
2100 N 33rd St Waco, TX	3.0	3.0	1858	$2,200	$1.18	43d	1	0.83mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	43d	1	0.87mi
4320 Guthrie Cir Waco, TX	3.0	1.0	1069	$1,700	$1.59	21d	1	0.90mi
1400 N 23rd St Waco, TX	4.0	2.0	1650	$1,575	$0.95	13d	1	0.97mi
2213 N 41st St Waco, TX	3.0	1.5	1299	$1,550	$1.19	13d	1	1.02mi
608 N 23rd St Waco, TX	3.0	1.0	1361	$1,695	$1.25	21d	1	1.07mi
736 Grice St Waco, TX	3.0	2.0	1125	$1,750	$1.56	43d	1	1.11mi
2116 Morrow Ave Waco, TX	4.0	2.0	1703	$1,650	$0.97	21d	1	1.11mi
415 N 23rd St Waco, TX	3.0	2.0	1680	$2,000	$1.19	21d	1	1.16mi
2001 Bosque Blvd Waco, TX	3.0	1.0	1628	$1,100	$0.68	43d	1	1.18mi
1000 N 19th St Waco, TX	3.0	1.5	1800	$2,050	$1.14	21d	1	1.25mi
2300 Washington Ave Waco, TX	3.0	1.0	1232	$1,650	$1.34	13d	1	1.28mi
2505 Proctor Ave Waco, TX	3.0	2.0	1588	$1,550	$0.98	21d	1	1.30mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	21d	1	1.33mi
2712 Lyle Ave Waco, TX	3.0	1.0	1100	$1,500	$1.36	43d	1	1.33mi
5025 Loch Lomond Dr Waco, TX	3.0	2.0	1611	$1,850	$1.15	21d	1	1.33mi
2601 Herring Ave Unit 1 Waco, TX	3.0	1.0	989	$1,295	$1.31	43d	1	1.33mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	21d	1	1.36mi
2000 Windsor Ave Waco, TX	4.0	2.5	1450	$1,800	$1.24	43d	1	1.39mi
2712 Mitchell Ave Waco, TX	3.0	1.0	1120	$1,300	$1.16	21d	1	1.40mi
2504 Lyle Ave Waco, TX	3.0	2.0	1028	$1,475	$1.43	21d	1	1.41mi
1920 Windsor Ave Waco, TX	3.0	1.0	1216	$1,200	$0.99	43d	1	1.42mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	13d	1	1.45mi
5101 Hawthorne Dr Waco, TX	3.0	2.0	1000	$1,700	$1.70	21d	1	1.46mi
1818 Windsor Ave Waco, TX	4.0	2.0	1112	$1,625	$1.46	21d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $165,000 Active 240 DOM
2. 2026-06-17
   days on market $165,000 Active 239 DOM
3. 2026-06-16
   days on market $165,000 Active 238 DOM
4. 2026-06-15
   days on market $165,000 Active 237 DOM
5. 2026-06-14
   days on market $165,000 Active 235 DOM
6. 2026-06-13
   days on market $165,000 Active 234 DOM
7. 2026-06-10
   days on market $165,000 Active 232 DOM
8. 2026-06-09
   days on market $165,000 Active 231 DOM
9. 2026-06-08
   days on market $165,000 Active 230 DOM
10. 2026-06-07
    days on market $165,000 Active 229 DOM
11. 2026-06-05
    days on market $165,000 Active 226 DOM
12. 2026-06-03
    days on market $165,000 Active 225 DOM
13. 2026-06-02
    days on market $165,000 Active 224 DOM
14. 2026-06-01
    days on market $165,000 Active 223 DOM
15. 2026-05-31
    days on market $165,000 Active 222 DOM
16. 2026-05-30
    days on market $165,000 Active 221 DOM
17. 2026-04-07
    price $165,000 849-char remark

    Show marketing remark (849 chars)

    Fully Occupied Duplex in Prime Waco Location! Fully Occupied Duplex in the Heart of Waco! Strong investment opportunity in a prime Waco location! This income-producing duplex features two well-maintained 1-bedroom, 1-bath units, both currently tenant-occupied, delivering immediate and consistent rental income. Each unit offers comfortable living space, private entrances, and a convenient single-story layout—ideal for easy management and long-term tenant appeal. Perfectly situated near shopping, dining, schools, and major roadways, this property combines steady cash flow, low-maintenance ownership, and strong rental demand in a growing market. Whether you’re expanding your portfolio or seeking your next reliable income property, this duplex checks every box. Also available as part of package deal MLS: 21191915

18. 2025-10-21
    listed $175,000 Active 849-char remark

    Show marketing remark (849 chars)

    Fully Occupied Duplex in Prime Waco Location! Fully Occupied Duplex in the Heart of Waco! Strong investment opportunity in a prime Waco location! This income-producing duplex features two well-maintained 1-bedroom, 1-bath units, both currently tenant-occupied, delivering immediate and consistent rental income. Each unit offers comfortable living space, private entrances, and a convenient single-story layout—ideal for easy management and long-term tenant appeal. Perfectly situated near shopping, dining, schools, and major roadways, this property combines steady cash flow, low-maintenance ownership, and strong rental demand in a growing market. Whether you’re expanding your portfolio or seeking your next reliable income property, this duplex checks every box. Also available as part of package deal MLS: 21191915

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥109°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: $22,176
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$4,800
• Taxable income: $1,285
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $3,527/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This fully occupied duplex requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, exterior, and roof.

Repairs flagged

• Major kitchen cabinets — severely dated and worn
• Major kitchen countertops — severely worn and outdated
• Major exterior siding — visible damage and overgrown vegetation
• Major roof — visible wear

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value
• Both exterior landscaping — improving the curb appeal can attract more buyers and renters
• Both roof repair — repairing the roof can prevent further damage and improve the home's overall condition

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely dated and worn	Major	$15,000–50,000
kitchen countertops · severely worn and outdated	Major	$15,000–50,000
exterior siding · visible damage and overgrown vegetation	Major	$15,000–50,000
roof · visible wear	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value ↑
• Both exterior landscaping — improving the curb appeal can attract more buyers and renters ↑
• Both roof repair — repairing the roof can prevent further damage and improve the home's overall condition ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 23,329
• Household income: $58,186
• Rent vs Own: 52.7% rent · 47.3% own
• Severe rent burden: 1202.0

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 0.60)
• Race & ethnicity: White 55% Hispanic / Latino 26% Two or more races 19% Black 15%
• Hispanic origin (detail): Mexican 21% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 84% English-only · Spanish 14% 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: ▼ -147.65%
• Current HPI: 227.2988
• Rent YoY: ▲ 2.41%
• 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

-5.7% since first listed

2 events — show timeline

• 2026-04-07 Price Changed $165,000 NTREIS
• 2025-10-21 Listed $175,000 NTREIS