313 Dearborn St · Waco, TX 76704

$164,500

3 bd · 1.0 ba · 1,340 sqft · SingleFamily public records · 40 Days on market

Built 1959 9,104 sqft lot $123/sqft · 7% below area Est $177k · 7% under

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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 +19.0/30.0
• ARV discount +10.6/15.0
• DSCR +6.0/10.0
• 1% rule +5.2/10.0
• 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

Great opportunity in the heart of Waco! This property offers a functional layout with spacious living areas and plenty of potential to make it your own. Whether you're looking for your next home or an investment opportunity, this one checks the boxes. The home includes a refrigerator, washer, dryer, and cooktop stove—all conveying with the sale, adding immediate value and convenience. With a little vision and updating, this property can truly shine. Ideally located near major highways, shopping, dining, and local attractions, providing both accessibility and long-term appeal. Opportunities like this don’t come around often—schedule your showing today! Multiple offers antic

Key facts

• Refrigerator
• Functional layout
• Dryer

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREAS
• REFRIGERATOR
• WASHER
• DRYER
• COOKTOP STOVE

Property features AI

Finance

• Other: Listing is Active and offered with exclusive right to sell
• HOA & community: No association

Exterior

• Parking: Attached carport (covered, 1 space); Driveway; 1 carport space
• Utilities: City sewer; No municipal utility district
• Home design: Single-family residence; Built in 1959; Not attached to another property
• Construction: Year built: 1959
• Exterior features: Accessible approach with ramp; Lot under 0.5 acre (approx. 0.209 acres); Subdivision: River Oaks 2

Interior

• Kitchen: Electric cooktop; Kitchen with built-in cabinets
• Bedrooms: 3 bedrooms (Primary bedroom on level 1, others on level 1)
• Bathrooms: 2 full bathrooms
• Interior features: Paneling; One-level layout; Two living areas; Four total rooms
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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); G W Carver Middle (math 9% / reading 13%, grade F, #1,634 of 1,662 statewide, top 99%, 393 students, 96% FRL, charter); Waco H S (math 26% / reading 24%, grade F, #1,250 of 1,632 statewide, top 77%, 2,011 students, 88% FRL).
• Market conditions: 87 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1,670/mo this rent would consume 66% 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 $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 40 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 63% 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 $159,565 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1959 — 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: 1.02% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.45%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $176,736
• List price: $164,500
• Delta: -6.92%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
401 Carver St	0.08mi	3/2.0	1,381 (+3%)	11mo	$130,000	$94	78
621 Delano St	0.40mi	3/2.0	1,256 (-6%)	1mo	$219,900	$175	66
401 Mahon Hollow Dr	0.49mi	3/2.0	1,291 (-4%)	2mo	$224,000	$174	65
301 Lorraine Dr	0.63mi	3/2.0	1,326 (-1%)	9mo	$36,400	$27	58
2104 Dan Rowe St	0.57mi	3/2.0	1,409 (+5%)	4mo	$188,000	$133	57
1124 Faulkner Ln	0.63mi	3/2.0	1,327 (-1%)	11mo	$217,999	$164	56
909 Lenox St	0.47mi	3/2.0	1,448 (+8%)	8mo	$228,999	$158	54
1500 J J Flewellen Rd	0.54mi	2/2.0 (-1)	1,286 (-4%)	7mo	$82,500	$64	53
1009 Dearborn St	0.51mi	3/1.0	1,478 (+10%)	9mo	$209,500	$142	51
1525 N 6th St	0.73mi	3/2.0	1,322 (-1%)	11mo	$200,000	$151	51
420 Mahon Hollow Dr	0.51mi	3/2.0	1,192 (-11%)	10mo	$239,000	$201	45
1417 N 6th St	0.74mi	4/2.0 (+1)	1,154 (-14%)	1mo	$245,500	$213	32

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: -9.3%
• Equity multiple: 0.66×
• Total profit: $-15,744
• Equity at exit: $24,527

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $432
• Equity at exit: $14,223

Cash invested: $46,060 (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: 87
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,670 high
• Mortgage (P&I): −$863
• Tax from tax record: −$217 /mo · $2,605/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $171

Break-even live

Break-even rent $1,453

Max offer price $164,500

Occupancy floor 85%

Sensitivity live

Price	-10% $264	-5% $217	+0% $171	+5% $124	+10% $78
Rent	-10% $39	-5% $105	+0% $171	+5% $237	+10% $303
Rate	-1.0pp $254	-0.5pp $213	base $171	+0.5pp $128	+1.0pp $85

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: $41,125
• Closing costs: $4,935
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
412 Dearborn St Waco, TX	3.0	2.0	1572	$2,000	$1.27	23d	1	0.07mi
1104 Sherman St Waco, TX	2.0	1.0	1120	$1,500	$1.34	45d	1	0.33mi
108 Choctaw Ct Waco, TX	3.0	2.0	1273	$1,600	$1.26	15d	1	0.52mi
2017 Broadway St Waco, TX	3.0	1.0	1247	$1,800	$1.44	45d	1	0.55mi
1500 E James St Unit A Waco, TX	4.0	4.0	1764	$2,750	$1.56	46d	1	0.57mi
609 Sherman St Waco, TX	3.0	2.0	1028	$1,449	$1.41	23d	1	0.63mi
825 Garrison St Waco, TX	3.0	2.0	1028	$1,370	$1.33	15d	1	0.72mi
932 Dawson St Waco, TX	3.0	2.0	1028	$1,449	$1.41	15d	1	0.80mi
1606 N 9th St Waco, TX	4.0	2.0	1392	$1,525	$1.10	23d	1	0.88mi
1107 Chestnut St Waco, TX	2.0	1.0	928	$1,300	$1.40	23d	1	0.92mi
712 Proctor Ave Waco, TX	4.0	2.0	1184	$1,450	$1.22	23d	1	0.96mi
916 Olive St Waco, TX	3.0	2.0	1028	$1,475	$1.43	15d	1	0.98mi
215 Washington Ave Waco, TX	1.0–4.0	1.0–4.0	919	$1,737	$1.89	23d	1	1.04mi
1226 Chestnut St Unit A Waco, TX	3.0	2.0	980	$925	$0.94	23d	1	1.04mi
1600 N 11th St Unit A Waco, TX	3.0	2.0	1217	$1,750	$1.44	45d	1	1.05mi
1110 N 11th St Waco, TX	3.0	2.0	1172	$1,495	$1.28	23d	1	1.14mi
1104 N 11th St Waco, TX	3.0	2.0	1231	$1,650	$1.34	23d	1	1.14mi
1319 Tabor St Waco, TX	3.0	1.5	1234	$1,700	$1.38	15d	1	1.20mi
804 N 11th St Waco, TX	1.0–2.0	1.0	838	$1,200	$1.43	23d	1	1.21mi
1013 Earle Ave Waco, TX	3.0	2.0	1028	$1,525	$1.48	23d	1	1.24mi
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	45d	1	1.25mi
1008 E Pecan Ave Waco, TX	3.0	1.0	1400	$1,350	$0.96	15d	1	1.27mi
716 N 13th St Waco, TX	4.0	2.0	1349	$1,675	$1.24	23d	1	1.36mi
3400 Adeline Dr Waco, TX	2.0	1.0	1232	$1,150	$0.93	45d	1	1.46mi
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	23d	1	1.47mi

Listing history 18 events

1. 2026-06-21
   days on market $164,500 Active 40 DOM
2. 2026-06-18
   days on market $164,500 Active 37 DOM
3. 2026-06-17
   days on market $164,500 Active 36 DOM
4. 2026-06-16
   days on market $164,500 Active 35 DOM
5. 2026-06-15
   days on market $164,500 Active 34 DOM
6. 2026-06-14
   days on market $164,500 Active 32 DOM
7. 2026-06-13
   days on market $164,500 Active 31 DOM
8. 2026-06-10
   days on market $164,500 Active 29 DOM
9. 2026-06-09
   days on market $164,500 Active 28 DOM
10. 2026-06-08
    days on market $164,500 Active 27 DOM
11. 2026-06-07
    days on market $164,500 Active 26 DOM
12. 2026-06-05
    days on market $164,500 Active 23 DOM
13. 2026-06-03
    days on market $164,500 Active 22 DOM
14. 2026-06-02
    days on market $164,500 Active 21 DOM
15. 2026-06-01
    days on market $164,500 Active 20 DOM
16. 2026-05-31
    days on market $164,500 Active 19 DOM
17. 2026-05-30
    days on market $164,500 Active 18 DOM
18. 2026-04-22
    listed $164,500 Active 712-char remark

ⓘ 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: $2,605 · $217/mo
• Projected year-2 tax: $3,010 · $251/mo
• Expected delta: +$406/yr (+$34/mo · 15.6%)

ⓘ 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 (shaded) · 27% 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 63% 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: $20,037
• − Mortgage interest: −$9,215
• − Property taxes: −$2,605
• − Insurance: −$822
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$4,785
• Taxable loss: −$596
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $2,193/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

1 event — show timeline

• 2026-04-22 Listed $164,500 NTREIS

Property tax history

+6.0%/yr

Latest (2025): $2,605 · +9.6% YoY. Source: county tax records.