348 Barker Lane
About This Property
The main home spans 2,518 square feet and features 3 bedrooms, 2 bathrooms, and a warm, welcoming feel throughout. With generous living spaces and inviting finishes, it's the kind of home that feels comfortable the moment you walk in.
Adding even more value is the fully equipped guest house, offering approximately 800 square feet with 2 bedrooms, 2 bathrooms, a full kitchen, and its own private entrance. Whether you're hosting guests, accommodating extended family, or exploring rental income potential, this space provides incredible versatility.
Step outside and you'll find a property that truly shines. The acreage is fully fenced and cross-fenced, creating functionality for animals or simply enjoying the space, and includes a water catchment system for those dreaming of a more self-sufficient lifestyle. A wood-fired brick oven sets the scene for gathering with friends and family, whether you're making pizzas or enjoying a cozy evening under the Texas sky.
Additional improvements include a 16x32 barn ready to accommodate horses and a 12x28 garage that can serve as a workshop, storage for short-term rental supplies, or additional covered parking.
Whether your vision includes a homestead, hobby farm, short-term rental opportunity, or simply a place to slow down and spread out, this property offers the flexibility to make it your own while staying conveniently close to everything Waco has to offer.
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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 7, 2026 | Sold | ||
| Sold | |||
| Jul 6, 2026 | In contract | - | |
| In contract | |||
| Jun 11, 2026 | Price Decreased |
$499,900
↓ $50K
(9.1%) | |
| Price Decreased | |||
| May 13, 2026 | Price Decreased |
$549,900
↓ $25K
(4.4%) | |
| Price Decreased | |||
| Apr 18, 2026 | Listed by Bramlett Partners | $575,000 | |
| Listed by Bramlett Partners | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017