
$36,000
NAL Estimated Property Value508 Herring Avenue, Waco, TX, 76708
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About this property
PRIME DEVELOPMENT & OWNER FINANCING OPPORTUNITY Exceptional vacant lot located in Waco’s Opportunity Zone with highly desirable R-3E zoning, offering incredible flexibility for investors, builders, and developers. This zoning designation allows for a variety of high-density residential uses including duplexes, townhomes, multifamily residences, and apartments, making this property an excellent option for future development in a growing area of Waco. Conveniently located just minutes from Cameron Park, the Cameron Park Zoo, and the Brazos River, this property offers easy access to some of Waco’s most popular outdoor attractions, trails, recreation areas, and entertainment destinations. Downtown Waco, Baylor University, shopping, dining, and major thoroughfares are also just a short drive away. The lot is positioned next to a 2-bedroom, 2-bath home that is also available for purchase, creating the opportunity to acquire both properties together for expanded development potential or additional space. Whether you’re looking to build now, hold as an investment, or combine with the neighboring property for a larger project, this property offers outstanding versatility and long-term potential in one of Waco’s rapidly developing areas. Owner financing may be available for qualified buyers, providing flexible options for investors and future homeowners alike.
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Learn About the Market: Opportunity in Texas




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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.
Population Growth
~1.3% annually
Net Migration
Positive
Median Home Price
$283,800
Unemployment Rate
4.3%
Price Trend
Flat
New Permits
158,121
City: Waco
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