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$298,000

NAL Estimated Property Value

1512 Elise Ave, Waco, TX, 76706

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,358 Sq Ft
price_per_sqft$228.28 / sqft
Year BuiltBuilt in 2023

Property Lead Type:

Off-Market ListAbsentee Owner

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
HeatingHeating
CoolingCooling
AppliancesDishwasher, Disposal, Electric Cooktop, Electric Oven, Microwave

Exterior

Lot Size4,792 sqft

Building Information

Year Built2023
Stories1
Roof Type105
Garage Spaces1

Land Information

APN480266620007050
Lot Number5
SubdivisionLakes At University Parks Ph 4
Land UseResidential
Legal DescriptionLAKES AT UNIVERSITY PARKS PH 4 LOT 5 BLOCK 7 ACRES .11
Census Tract001900
Assessed Land Value$38,050
Assessed Improvement Value$188,420
Assessment Year2025

About this property

Discover this stunning new 3-bedroom, 2-bathroom home in The Lakes at University Park, built in 2023. The property backs up to a serene lake, offering peaceful views and outdoor enjoyment. Located near Baylor University, you'll enjoy the perfect blend of campus proximity and residential tranquility. Just a short drive to Downtown Waco and Central Texas Marketplace for all your shopping needs. The home's modern design and lakeside setting create an ideal space for both relaxation and entertainment. Zoned 0-2, could be great for someone looking for an investment opportunity!

Investor Tools

Property Icon
$298,000
Estimated Property Value
$236,490Estimated Mortgage Balance
$61,510Estimated Equity
20% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,860 /month
Positive
Cash Flow Estimate:
$620 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$480/month
$500/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$4,274
$226,470
2025
$38,050
$188,420
$226,470
No

Tax History

Year
Tax Paid
Assessed Value
2024
$4,274
$226,470

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Fairway Independent Mortgage Corp
Conventional
$240,000
No
First
Jul 30, 2025
Aug 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$236,490
$61,510
20%
79%
$1,439/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,330/mo
$1,939/mo
$-609/mo
5.4%

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.

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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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1512 Elise Ave | Property Details | No Agent List