1001 Hamilton Drive
About This Property
Discover the opportunity at 1001 Hamilton Drive in Waco, TX! This 2-bedroom, 1-bathroom home sits on an impressive .66-acre lot outside city limits, offering the freedom and flexibility that buyers and investors are looking for.
The property features several important updates, including a brand-new roof, new windows, updated electrical, new light fixtures, new PEX piping, and new gutters. The fully fenced lot provides plenty of space for outdoor living, a workshop, additional parking, gardening, or future possibilities.
The home does need some TLC, making it an excellent opportunity for someone ready to bring their vision to life. Whether you're looking for a project, an investment, or a property with room to grow, the potential here is endless!
Outside city limits + .66 acres + major updates = an opportunity you don't want to miss!
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Aug 7, 2026 | Listed by Keller Williams Realty, Waco | $170,000 | |
| Listed by Keller Williams Realty, Waco | |||
| Oct 30, 2025 | No longer available | - | |
| No longer available | |||
| Jun 5, 2025 | Price Decreased |
$195,000
↓ $4K
(2%) | |
| Price Decreased | |||
| Apr 30, 2025 | Listed by Coldwell Banker Apex, REALTORS | $199,000 | |
| Listed by Coldwell Banker Apex, REALTORS | |||
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Looking for a unique home on a large lot with fixer upper potential? Look no further than 1001 Hamilton Drive! Situated on a 0.66 acre lot adorned with mature trees, this charming 2 bedroom 1 bath home of over 1800 square feet includes a bonus room that could easily be converted to a 3rd bedroom (with a large closet already in place next to it), plumbing in place in the laundry room to add a 2nd bathroom, a deck out back to relax and enjoy the central Texas skies, and so much more. Upgrades made in the last couple years include new windows, new roof, new paint, new electrical panel and wiring for future HVAC, and foundation repair. The gated driveway and fully-fenced yard offer the upmost privacy and freedom for you to roam. There's a storage building in the back yard, as well as a dog run at the back of the property. Embrace country living and bring your chickens, goats or whatever brings you happiness! This property offers a great opportunity to create your own slice of heaven or vacation rental for those wanting to get away, while still enjoying the convenience of city attractions nearby - downtown Waco is a short 20 minute drive and Whitney is 25 minutes away. While some TLC is needed, this charming and affordable home can be made to fit your vision but you have to see it to appreciate all it has to offer! Call today to schedule your private tour!
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| Sep 1, 2022 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017