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$242,500

1206 Spring St, Waco, TX, 76704

On MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,198 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$202.42 / sqft
Year BuiltBuilt in 2003

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
HeatingHeating
CoolingCooling
AppliancesElectric Water Heater, Microwave
FlooringTile, Vinyl

Exterior

Exterior FeaturesOther, Garden
Lot Size8,250 sqft

Building Information

Year Built2003
Stories1
Roof Type105
Garage Spaces1

Land Information

APN480257000285003
Lot Number3
SubdivisionKirkpatrick
Land UseResidential
Legal DescriptionKIRKPATRICK LOT 3 BLOCK 52 ACRES .1894
Census Tract001500
Assessed Land Value$20,630
Assessed Improvement Value$202,790
Assessment Year2025

About this property

Income-Producing Home Near Baylor & McLane Stadium – Close to the Game! Whether you're a savvy investor or simply love being close to the action, this beautifully updated 3-bedroom, 2-bath home is a rare find—just 0.6 miles from McLane Stadium and Baylor University! Currently tenant-occupied and already generating income, this property offers immediate cash flow with incredible long-term potential. The location couldn’t be better—steps from campus, downtown Waco, and I-35—putting you minutes from Magnolia Market, the Silos, Heritage Square, Cameron Park Zoo, and the Brazos River. Whether it’s game day or a quiet Sunday stroll, you're right where you want to be. Inside, you’ll find a bright, open-concept layout with a spacious living area that flows seamlessly into the kitchen and dining spaces. The modern kitchen is a true highlight, featuring granite countertops, updated appliances, and a deep stainless sink—perfect for entertaining or enjoying everyday meals. The home offers three generously sized bedrooms and two full bathrooms, both updated for comfort and style. Whether used as a primary residence, short-term rental, or long-term investment, the flexible layout suits a variety of lifestyles. Outside, the large backyard is perfect for entertaining, with a cozy seating area that invites relaxing evenings or game-day BBQs under the stars. An attached garage adds valuable storage and convenience. Investor bonus: With tenants already in place, this property is turnkey and ready to start—or grow—your real estate portfolio. Homes this close to Baylor with strong rental appeal don’t last long. Schedule your showing today and take advantage of this incredible opportunity in the heart of Waco!

Investor Tools

$224,222Estimated Mortgage Balance
$20,778Estimated Equity
8% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,470 /month
Positive
Cash Flow Estimate:
$490 /month

Interested in this property?

Lily Flores

Magnolia Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$505/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,829
$223,420
2025
$20,630
$202,790
$223,420
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,829
$223,420

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Network Funding Lp
Va
$234,491
Yes
First
Jan 12, 2024
Feb 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$224,222
$20,778
8%
92%
$1,406/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$1,406/mo
$-99/mo
6.4%

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.

Explore Texas Explore This Area
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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1206 Spring St | Property Details | No Agent List