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1301 Wood Avenue #A & B

Waco, TX 76706

$569,900

2 units · 2000

Units2
Building area2,136 sq ft
Year built2000
Gross income$43,200/yr
Cap rate7.37% as listed
Parking4 spaces
Lot size0.189 acres
TypeDuplex

What it costs to own

Taxes$7,490 per year
HOANone listed
Operating expenses$1,210 per year — as listed
Insurance$2,040 per year — as listed
Net operating income$41,990 per year — as listed

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

About this home

Prime investment opportunity within walking distance of Baylor University! This updated duplex features two separate 2-bedroom, 2-bath units for a total of 4 bedrooms and 4 full bathrooms. Currently leased for a combined $3,600 per month, the property offers immediate rental income along with plenty of flexibility for the next owner.

Both units feature bright, open living spaces, updated kitchens and bathrooms, in-unit laundry, and thoughtfully designed layouts that feel more like home than your typical student rental. Outside, you'll find a large fenced backyard, ample parking, alley access, and an upstairs balcony.

With eligibility for both short-term and long-term rentals, there are multiple ways to make this property work for you. Continue leasing both units, utilize one or both as short-term rentals, or purchase for your Baylor student to live in one side while generating income from the other. The property can also be sold partially furnished for an even easier transition.

Updated, income-producing, STR eligible, and conveniently located near Baylor, this duplex is ready for its next investor. Schedule your private showing today!

The details

HeatingCentral, Electric, Other
CoolingCentral Air, Electric, Other
FlooringLuxury Vinyl Plank, Tile
AppliancesDishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer
Interior featuresCable TV Available, High Speed Internet Available, Kitchen Island, Open Floorplan, Pantry

Construction materialsBrick, Siding
RoofComposition
FoundationSlab

Water sourceCity Water
SewerCity Sewer
ElectricElectricity Connected

SubdivisionKyger

ElementarySouth Waco
Middle schoolCesar Chavez
High schoolUniversity
DistrictWaco ISD

Gross income$43,200 per year
Operating expenses$1,210 per year
Insurance$2,040 per year
Cap rate7.37% — as listed
Net operating income$41,990 per year

MLS #21393402
Source
On the market1 day
CountyMcLennan

Around this home

One moment…

Everyday life

Nearest groceryThe Mix Cafe · 0.6 mi
Nearest parkCouncil Acres Park · 0.1 mi

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Listing courtesy of Bramlett Partners — Catt Longoria.

Robert LewisStephen LewisRobert & StephenInk Realty Group

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Listing data provided by the North Texas Real Estate Information Systems (NTREIS). MLS #21393402. Information last updated September 23, 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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