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$189,999

For Sale - Active
2410 S 2nd St Apt 628, Waco, TX 76706
1 Bed
1 Bath
788 Square Feet
0.04 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 17 hours ago
Updated: May 30, 2025 at 03:25AM

Investment Summary


Monthly Cash Flow
-$557
Cap Rate
2.2%
Cash-on-Cash Return
-15.3%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-10.8%

Property Description


0.04 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Spacious 1-Bedroom Condo in Gated Bandera Ranch – Minutes from Baylor! Discover this excellent 1-bedroom, 1-bath condo in the highly sought-after Bandera Ranch, just minutes from Baylor University! Designed for the perfect college experience, this property offers plenty of space, newly installed wood vinyl floors, and a private 1-car garage. Enjoy the perks of a gated community with top-tier amenities, including 24/7 security, a resort-style swimming pool, and more. Don’t miss out on this incredible opportunity—schedule a showing today!

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Location


Property Details


Parking

  • Description: Attached Garage
  • Details: Assigned, Gated, Attached
  • Garage Spaces: 1
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 1.0

Interior Features

  • # of Stories: 1

Exterior Features

  • Exterior Walls Materials: Other
  • Foundation: Slab
  • Roof Type: Wood Truss
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • HOA Fee: $191/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 480055560628000
  • Lot Size: 1960 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2006

Tax Information

  • Annual Tax: $3,545

Utilities

  • Heating: Central, Electric
  • Cooling: Central Air, Electric

Location

  • County: Mc Lennan

Listing Details


Listed by:
David Harris
Kelly, Realtors
(254) 640-4144

Source:
North Texas Real Estate Information Systems (NTREIS)
MLS#: 228837
North Texas Real Estate Information Systems (NTREIS)

Investment Summary


Monthly Cash Flow
-$557
Cap Rate
2.2%
Cash-on-Cash Return
-15.3%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-10.8%

Purchase Details

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Purchase price:
$189,999
Amount financed:
-$151,999
Down payment:
$38,000
Closing costs:
$5,700
Rehab costs:
$0
Initial cash invested:
$43,700
Square feet:
788
Cost per square foot:
$241
Monthly rent per square foot:
$1.52

Financing Details

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Loan amount:
$151,999
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$899
Property tax:
$295
Insurance:
$84
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,278

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,200 $14,400
Vacancy loss: (6%)
6% -$72 -$864
Operating income:
$1,128 $13,536

Operating Expenses


% Rent Monthly Yearly
Property taxes: (25%)
25%-$295-$3,545
Insurance: (7%)
7%-$84-$1,008
Property management: (8%)
8%-$96-$1,152
Repairs & maintenance: (5%)
5%-$60-$720
Capital expenditures: (5%)
5%-$60-$720
HOA fees: (16%)
16%-$191-$2,292
Total operating expenses: (66%)
66%-$786-$9,437

Cash Flow


Monthly Yearly
Net operating income:
$342 $4,104
Mortgage payments:
-$899 -$10,788
Cash flow:
$557 $6,684