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2721 Homan Avenue
About This Property
Calling all investors, flippers, and handy homeowners!
This 3-bedroom, 1-bath home is packed with potential and ready for your vision. Located in the heart of Waco, this value-add property offers an excellent opportunity to renovate, hold as a rental, or transform into your next profitable flip.
Inside, you'll find a functional floor plan featuring a comfortable living room, dining area, and a versatile bonus space that can easily serve as a second living area, game room, home office, or flex room.
The additional living space opens directly to a spacious backyard with convenient alley access, creating endless possibilities for expansion, outdoor entertaining, a workshop, or even a future pool.
Situated in an established neighborhood experiencing continued growth and revitalization, this property presents a fantastic opportunity to build equity and maximize your investment. You'll enjoy quick access to Downtown Waco, Baylor University, Cameron Park, and major thoroughfares. Shopping, restaurants, schools, parks, and entertainment are all just minutes away, making this an attractive option for owner-occupants, long-term tenants, or short-term rental investors.
Sold As-Is. Bring your creativity, tools, and vision to unlock the full potential of this centrally located Waco investment opportunity.
Schedule your showing today!
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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 |
|---|---|---|---|
| Aug 28, 2026 | Sold | ||
| Sold | |||
| Aug 7, 2026 | In contract | - | |
| In contract | |||
| Jul 29, 2026 | Price Decreased |
$61,900
↓ $5K
(7.5%) | |
| Price Decreased | |||
| Jul 22, 2026 | Relisted | $66,900 | |
| Relisted | |||
| Jul 11, 2026 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017