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1206 Spring Street
About This Property
The location couldn't be better-steps from campus, downtown Waco, and I-35-putting you minutes from Magnolia Market, the Silos, Heritage Square, Cameron Park Zoo, and the Brazos River. Whether it's game day or a quiet Sunday stroll, you're right where you want to be.
Inside, you'll find a bright, open-concept layout with a spacious living area that flows seamlessly into the kitchen and dining spaces. The modern kitchen is a true highlight, featuring granite countertops, updated appliances, and a deep stainless sink-perfect for entertaining or enjoying everyday meals.
The home offers three generously sized bedrooms and two full bathrooms, both updated for comfort and style. Whether used as a primary residence, short-term rental, or long-term investment, the flexible layout suits a variety of lifestyles.
Outside, the large backyard is perfect for entertaining, with a cozy seating area that invites relaxing evenings or game-day BBQs under the stars. An attached garage adds valuable storage and convenience.
Investor bonus: With tenants already in place, this property is turnkey and ready to start-or grow-your real estate portfolio.
Homes this close to Baylor with strong rental appeal don't last long. Schedule your showing today and take advantage of this incredible opportunity in the heart of Waco!
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Cap Rate Calculator
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 |
|---|---|---|---|
| Sep 10, 2026 | Price Decreased |
$240,000
↓ $3K
(1%) | |
| Price Decreased | |||
| Jun 9, 2026 | Price Decreased |
$242,500
↓ $3K
(1%) | |
| Price Decreased | |||
| May 1, 2026 | Price Decreased |
$245,000
↓ $3K
(1%) | |
| Price Decreased | |||
| Mar 13, 2026 | Price Decreased |
$247,500
↓ $500
(0.2%) | |
| Price Decreased | |||
| Feb 12, 2026 | Price Decreased |
$248,000
↓ $500
(0.2%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017