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$449,000

NAL Estimated Property Value

115 Karem Rd, Waco, TX, 76710

Off MarketInfo
Beds4 Beds
Baths4 Bath
Baths2,506 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$189.55 / sqft
Year BuiltBuilt in 1945

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
HeatingHeating
CoolingCooling
AppliancesDishwasher, Disposal
FlooringTile, Wood

Exterior

Exterior FeaturesRain Gutters, Storage
Lot Size21,972 sqft

Building Information

Year Built1945
Stories2
Roof Type105
Garage Spaces3

Land Information

APN480250000021005
Lot Number19
SubdivisionKarem Park
Land UseResidential
Legal DescriptionKAREM PARK LOT 19 BLOCK 1 ACRES .5044
Census Tract002498
Assessed Land Value$72,290
Assessed Improvement Value$354,660
Assessment Year2025

About this property

Charming home in the highly sought-after Castle Heights Historic District, nestled in Karem Park. From the moment you arrive, the curb appeal will captivate you. Stunning two-story home boasts a welcoming front porch and lush landscaping in both the front and back yards. Step inside to over 2,500 square feet of character and comfort. The first floor offers a spacious living room with a cozy gas fireplace, custom built-ins, and beautiful wood floors throughout. Also on the main level: a formal dining room, a sunny breakfast room, kitchen, a convenient half bath, and the primary suite. The kitchen overlooks the picture-perfect backyard, an ideal setting for relaxation or entertaining. The tree-covered lot features majestic pecan trees, a long extended driveway, and a generous three-car carport. Enjoy outdoor living with a lovely deck, two storage sheds, pretty landscaping, and a full sprinkler system. Upstairs you'll find three additional bedrooms and two full baths. With both an upstairs and downstairs suite, this home easily accommodates two primary bedrooms—each with en suite bathrooms. The downstairs suite features a luxurious bath with dual vanities, a walk-in shower, and a soaking tub. Originally built in 1945, this home has been tastefully updated while preserving its timeless charm. Warm, inviting, and full of character—this is Castle Heights living at its best.

Investor Tools

Property Icon
$449,000
Estimated Property Value
$423,343Estimated Mortgage Balance
$25,657Estimated Equity
5% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,850 /month
Positive
Cash Flow Estimate:
$950 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$528/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,093
$387,914
2025
$72,290
$354,660
$426,950
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,093
$387,914

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Cardinal Financial Company Lp
Conventional
$427,700
No
First
Oct 27, 2025
Nov 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$423,343
$25,657
5%
94%
$2,565/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$2,565/mo
$-1,258/mo
3.5%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

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Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Waco

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115 Karem Rd | Property Details | No Agent List