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602-606 8th Street

Waco, TX 76706

$1,349,000

2 units · 2022

Units2
Building area4,264 sq ft
Year built2022
Gross income$137,000/yr
Cap rate1.78% as listed
Parking6 spaces
Lot size0.356 acres
TypeResidential Income

What it costs to own

Taxes$8,207 per year
HOANone listed
Operating expenses$113,000 per year — as listed
Insurance$4,500 per year — as listed
Net operating income$24,000 per year — as listed

Taxes shown reflect the current owner's exemptions and may change after purchase.

About this home

Positioned in the heart of downtown Waco, this is a rare opportunity to own two top-performing short-term rentals in one of the city’s most sought-after districts. Located within walking distance to Magnolia Market at the Silos and just minutes from Baylor University, The Armstrong and Fitzgerald consistently attract Baylor families, game-day visitors, and weekend travelers year-round. What truly sets this property apart is its coveted O-2 zoning in the Silo District with no restrictions on short-term rental use — a rare and highly desirable designation that protects and enhances its long-term investment value. The homes are active, professionally operated, top-performing STRs with proven income history, offering investors immediate cash flow and seamless operational continuity from day one. Blocks from the Silos and moments from downtown Waco and Cameron Park, the location delivers the walkability and convenience today’s guests demand. The property consists of two spacious brownstone-style retreats designed for both comfort and an elevated guest experience. This peaceful getaway features expansive living, kitchen, and dining spaces ideal for hosting and gathering. The homes each comfortably accommodate 7 people — or guests can reserve both properties for larger groups. Additional amenities include:

  • Downstairs primary suites with luxurious spa-style bathrooms
  • En suite bathrooms for every bedroom
  • Fully stocked kitchens designed for extended stays
  • Washers and dryers
  • Thoughtfully curated furnishings and décor Turnkey, income-producing, and strategically located in one of Waco’s most dynamic growth corridors, The Armstrong and Fitzgerald represent a premier investment opportunity in a thriving short-term rental market.

The details

HeatingCentral, Electric
CoolingCeiling Fan(s), Central Air, Electric
FlooringConcrete
AppliancesDishwasher, Disposal, Dryer, Electric Range, Microwave, Refrigerator, Washer
Interior featuresDecorative Lighting, Eat-in Kitchen, Granite Counters, Kitchen Island, Open Floorplan, Walk-In Closet(s)
Bathrooms6 full · 2 half

Construction materialsBrick
RoofComposition
FoundationSlab

Water sourceCity Water
SewerCity Sewer

SubdivisionAdams & Ames Add

ElementaryWest Avenue
Middle schoolCesar Chavez
High schoolUniversity
DistrictWaco ISD

Gross income$137,000 per year
Operating expenses$113,000 per year
Insurance$4,500 per year
Cap rate1.78% — as listed
Net operating income$24,000 per year

MLS #21192983
Source
Price changeReduced by $50,000 · Oct 5, 2026
On the market217 days
CountyMcLennan

Around this home

One moment…

Everyday life

Nearest groceryCare Net · 0.8 mi
Nearest parkKaty Ball Park · 0.2 mi

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Listing courtesy of Magnolia Realty — Blaire Mooney.

Robert LewisStephen LewisRobert & StephenInk Realty Group

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Listing data provided by the North Texas Real Estate Information Systems (NTREIS). MLS #21192983. Information last updated October 5, 2026.

Based on information submitted to the MLS as of the date above. All data is obtained from various sources and may not have been verified by the broker or NTREIS. Supplied data is for the viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing.

Ink Realty Group is brokered by eXp Realty.

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