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$162,900

$164,900

2306 Melissa Drive, Waco, TX, 76708

$165,454 ARVInfo
On MarketInfo
Price DropInfo
Beds2 Beds
Baths1 Bath
Baths1,239 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$131.48 / sqft
Year BuiltBuilt in 1982

Property Lead Type:

BankruptcyPre-ForeclosureMust-SellHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 1Bathrooms Full 1
Indoor FireplaceIndoor Fireplace
HeatingHeating
CoolingCooling
AppliancesDishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer
FlooringCarpet, Vinyl

Exterior

Exterior FeaturesBalcony
Lot Size2,631 sqft

Building Information

Year Built1982
Stories1

Land Information

APN480438080046000
Lot Number1
SubdivisionWeston
Land UseResidential
Legal DescriptionWESTON LOT 1 BLOCK A UNIT 4 BLDG H 2.06% THE FIRST EDITION UNIT 4 BLDG H 2.06% THE FIRST EDITION
Census Tract002700
Assessed Land Value$13,540
Assessed Improvement Value$244,940
Assessment Year2025

About this property

Welcome to 2306 Melissa Dr, a thoughtfully updated condominium in the heart of Waco offering comfort, convenience, and charm in one inviting package. Located in the First Edition Townhomes gated community on the second floor, this inviting 2-bedroom, 1-bath condo offers an open and easy-to-love layout filled with natural light. As you first enter the space you are greeted by the open living and dining area centered around a cozy wood-burning fireplace, creating a warm space to relax or gather with friends. The kitchen boasts tasteful updates of granite countertops, grey tile backsplash, and painted original wood cabinets. It comes fully equipped with all stainless-steel Kenmore appliances conveying with purchase for no extra cost - refrigerator, built-in microwave, electric range, and dishwasher. Just off the dining area, a private covered balcony provides the perfect spot to enjoy your morning coffee or unwind at the end of the day. The washer and dryer are located right off the dining space as well and will also convey with purchase, making your move-in simple and convenient. Both nice sized bedrooms offer comfortable accommodations with carpet, closet space, and more natural light. The large bathroom, accessible through both the primary bedroom and hall, offers thoughtful and cohesive updates as well featuring granite countertops, built in storage, and decorative lighting. Additional features of the property include one covered carport parking space attached to the backside of the building and a good-sized closet for added storage located off of the balcony. This property is centrally located and is a quick 10 minutes to MCC, 15 minutes to downtown or Baylor's campus, and 20 minutes to TSTC. Make an appointment and come see this Waco gem today!

Investor Tools

Property Icon
$214,473
Estimated Property Value
$0Estimated Mortgage Balance
$71,665Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$165,453
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,287 /month
Positive
Cash Flow Estimate:
$429 /month

Interested in this property?

Ashley Weist

Kelly, Realtors

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$332/month
$176/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,916
$214,473
2025
$13,540
$244,940
$258,480
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,916
$214,473

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Laraby Financial Group Inc
Conventional
$153,805
No
First
Aug 27, 2022
Sep 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$142,808
$71,665
33%
67%
$923/mo

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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2306 Melissa Drive | Property Details | No Agent List