1915 Windsor Ave · Waco, TX 76708

$129,900

3 bd · 1.0 ba · 2,068 sqft · SingleFamily public records · 12 Days on market

Built 1945 0.28 ac lot

---

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 +28.7/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a property with potential? This unique opportunity features a total of 4 bedrooms and 2 bathrooms, along with a separate 1 bedroom, 1 bathroom guest house that could serve as a rental property, mother-in-law suite, guest quarters, or home office. Situated on a spacious property, both homes are ready for someone with vision and creativity to bring them back to life. While substantial updates and repairs are needed, the possibilities are endless for investors, DIY enthusiasts, or buyers looking to create their dream property while adding value along the way. Whether you're seeking multi-generational living, income-producing potential, or a renovation project with room to grow, thi

Key facts

• 0.28 acre lot
• Built 1945
• Listed 11 days

Property features AI

Finance

• Other: Property is not subdivided (multi-parcel: No); Property listed for sale (Exclusive Right To Sell agreement)
• Financial info: Listing eligible for Cash and Conventional financing; No second mortgage reported
• HOA & community: No association

Exterior

• Parking: Driveway
• Security: Other security features
• Utilities: City water; City sewer; No municipal utility district
• Home design: Single family residence; Residential property; One story; Not attached to another property; Deed restrictions
• Construction: Built in 1945; Brick and vinyl siding exterior; Composition roof; Pillar/post/pier foundation
• Exterior features: Subdivision lot; Easement for electric

Interior

• Kitchen: Electric range
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom on main level
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window unit(s) for cooling; Wood-burning fireplace
• Interior features: Cable TV available; One living area; One dining area; 4 total rooms; One-level layout
• 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 $130k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• 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: Brook Avenue El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 369 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: Rents soft (-0.8%/yr); 378 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% 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 $129,900

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.32%
• DSCR: 1.64
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $268,840
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1700 Proctor Ave	0.26mi	4/3.5 (+1)	2,038 (-2%)	2mo	$265,000	$130	69
1504 Proctor Ave	0.43mi	3/3.0	2,041 (-1%)	2mo	$209,900	$103	68
1501 Proctor	0.45mi	4/2.0 (+1)	1,888 (-9%)	1mo	$150,000	$79	55
2716 Pine Ave	0.62mi	4/2.0 (+1)	2,010 (-3%)	7mo	$249,900	$124	52
2728 Pine Ave	0.65mi	3/3.0	1,882 (-9%)	3mo	$279,000	$148	44
1700 N 15th St	0.51mi	4/2.0 (+1)	1,848 (-11%)	8mo	$115,000	$62	42
2815 Cumberland Ave	0.72mi	4/3.5 (+1)	2,190 (+6%)	0mo	$475,000	$217	41
2712 Cumberland Ave	0.63mi	3/2.0	1,828 (-12%)	7mo	$289,900	$159	41
2617 Pine Ave	0.53mi	3/3.0	2,281 (+10%)	12mo	$550,000	$241	40
2722 Cumberland Ave	0.65mi	3/2.0	1,774 (-14%)	6mo	$313,299	$177	37
1711 West Ave	0.64mi	3/2.0	2,272 (+10%)	21mo	$265,000	$117	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $1,683
• Equity at exit: $19,369

10-year hold

• IRR: 7.6%
• Equity multiple: 1.50×
• Total profit: $18,076
• Equity at exit: $11,231

Cash invested: $36,372 (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 76708

• Home prices YoY: -26.5%
• Rents YoY: -0.8%
• Active inventory: 378
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,686 high
• Mortgage (P&I): −$681
• Tax est. 1.5%: −$162 /mo · $1,948/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $434

Break-even live

Break-even rent $1,136

Max offer price $129,900

Occupancy floor 69%

Sensitivity live

Price	-10% $524	-5% $479	+0% $434	+5% $389	+10% $344
Rent	-10% $301	-5% $367	+0% $434	+5% $501	+10% $567
Rate	-1.0pp $500	-0.5pp $467	base $434	+0.5pp $400	+1.0pp $366

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2000 Windsor Ave Waco, TX	4.0	2.5	1450	$1,800	$1.24	45d	1	0.04mi
1825 Cumberland Ave Waco, TX	3.0	1.0	1400	$1,325	$0.95	15d	1	0.10mi
1815 Seneca Ave Waco, TX	3.0	2.0	1471	$1,650	$1.12	22d	1	0.35mi
1920 Lyle Ave Waco, TX	2.0	1.0	1519	$1,200	$0.79	22d	1	0.37mi
1920 Lyle Ave Waco, TX	2.0	1.0	1519	$1,200	$0.79	45d	1	0.37mi
1511 Maple Ave Waco, TX	3.0	2.0	1487	$1,450	$0.98	45d	1	0.38mi
1817 Lyle Ave Waco, TX	3.0	2.5	2430	$2,295	$0.94	22d	1	0.41mi
2505 Proctor Ave Waco, TX	3.0	2.0	1588	$1,550	$0.98	22d	1	0.49mi
2511 Parrott Ave Waco, TX	3.0	2.0	1463	$1,695	$1.16	45d	1	0.57mi
1621 Alexander Ave Unit A Waco, TX	3.0	2.0	1400	$1,695	$1.21	22d	1	0.60mi
1400 N 23rd St Waco, TX	4.0	2.0	1650	$1,575	$0.95	15d	1	0.61mi
1901 N 28th St Waco, TX	3.0	2.0	1794	$1,950	$1.09	22d	1	0.66mi
2001 Bosque Blvd Waco, TX	3.0	1.0	1628	$1,100	$0.68	45d	1	0.72mi
2400 Reuter Ave Waco, TX	4.0	2.0	1426	$1,650	$1.16	22d	1	0.76mi
1000 N 19th St Waco, TX	3.0	1.5	1800	$2,050	$1.14	22d	1	0.80mi
3007 Parrott Ave Unit 1 Waco, TX	3.0	2.0	1458	$1,650	$1.13	22d	1	0.87mi
3219 Pine Ave Waco, TX	4.0	2.5	2678	$2,400	$0.90	22d	1	1.01mi
2100 N 33rd St Waco, TX	3.0	3.0	1858	$2,200	$1.18	45d	1	1.03mi
2116 Morrow Ave Waco, TX	4.0	2.0	1703	$1,650	$0.97	22d	1	1.05mi
3125 Ethel Ave Waco, TX	3.0	2.0	1760	$1,900	$1.08	22d	1	1.07mi
2714 Morrow Ave Waco, TX	2.0	1.0	1484	$1,375	$0.93	22d	1	1.28mi
415 N 23rd St Waco, TX	3.0	2.0	1680	$2,000	$1.19	22d	1	1.28mi
3800 N 21st a St Waco, TX	4.0	2.5	1500	$1,350	$0.90	22d	1	1.45mi
3310 MacArthur Dr Waco, TX	3.0	2.0	1586	$2,000	$1.26	15d	1	1.49mi

Listing history 9 events

1. 2026-06-21
   days on market $129,900 Active 12 DOM
2. 2026-06-18
   days on market $129,900 Active 9 DOM
3. 2026-06-17
   days on market $129,900 Active 8 DOM
4. 2026-06-16
   days on market $129,900 Active 7 DOM
5. 2026-06-15
   days on market $129,900 Active 6 DOM
6. 2026-06-14
   days on market $129,900 Active 4 DOM
7. 2026-06-13
   days on market $129,900 Active 3 DOM
8. 2026-06-10
   remarks 699-char remark
9. 2026-06-10
   listed $129,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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: $20,230
• − Mortgage interest: −$7,276
• − Property taxes: −$1,948
• − Insurance: −$650
• − Repairs & maintenance: −$1,618
• − Management: −$1,618
• − Depreciation: −$3,779
• Taxable income: $3,340
• Est. tax owed @ 24.0%: −$802
• After-tax cash flow: $4,408/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): 27,790
• Household income: $68,856
• Rent vs Own: 30.1% rent · 69.9% own
• Severe rent burden: 583.0

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 0.63)
• Race & ethnicity: White 50% Hispanic / Latino 31% Two or more races 20% Black 13% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Common ancestry: Slovak 2% Lithuanian 1% Italian 1%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 21% Other Asian/Pacific 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: ▼ -78.80%
• Current HPI: 218.9643
• Rent YoY: ▼ -0.80%
• 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

• 2026-06-09 Listed $129,900 NTREIS

Property tax history

+9.1%/yr

Latest (2025): $6,772 · +5.4% YoY. Source: county tax records.