3008 S 3rd Street
About This Property
The primary residence boasts an impressive 4-bedroom, 4.5-bathroom layout with spacious living areas designed for comfort and functionality. Complementing the main home is a detached 1-bedroom, 1-bathroom ADU, creating the perfect setup for student housing, long-term rentals, short-term vacation stays, or private guest accommodations.
With just under 3,000 square feet of combined living space, this property delivers the ideal blend of space, versatility, and income-producing potential. Live in one residence while generating rental income from the other, or capitalize on both as investment properties in one of Waco's most desirable locations.
Opportunities like this are few and far between in the Baylor area. Whether you're expanding your investment portfolio, searching for a house hack, or looking for the perfect game-day getaway with built-in income potential, 3008 S. 3rd Street checks every box.
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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 |
|---|---|---|---|
| Sep 1, 2026 | Price Decreased |
$760,000
↓ $20K
(2.6%) | |
| Price Decreased | |||
| Jul 30, 2026 | Listed by Agents Of Texas, LLC | $780,000 | |
| Listed by Agents Of Texas, LLC | |||
| Jul 27, 2026 | No longer available | - | |
| No longer available | |||
| Jul 6, 2026 | In contract | - | |
| In contract | |||
| Mar 13, 2026 | Price Decreased |
$899,000
↓ $67K
(6.9%) | |
| Price Decreased | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017