3825 Elliott Drive
About This Property
Currently zoned R-1B Residential, with Property Use Code 301 (Commercial), the property is situated in an area experiencing continued growth and investment. The oversized lot provides ample space for outdoor living, future improvements, or additional amenities, making it a standout opportunity in today's market.
Whether you're searching for a primary residence, rental property, or long-term investment, this home offers exceptional potential in one of Waco's most convenient locations. Buyer should independently verify zoning, utility availability, building requirements, and any future land use or development opportunities with the City of Waco.
*Property is being sold individually. Neighboring lots and houses being sold by the same seller and can be combined as a package deal.
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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 16, 2026 | Price Decreased |
$164,900
↓ $10K
(5.7%) | |
| Price Decreased | |||
| Jul 21, 2026 | Listed by Versatile Real Estate Co. | $174,900 | |
| Listed by Versatile Real Estate Co. | |||
| Jul 24, 2022 | No longer available | - | |
| No longer available | |||
| Apr 26, 2022 | Listed by Exit Superior Realty | $250,000 | |
| Listed by Exit Superior Realty | |||
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Home is on a corner lot and comes with the lot behind it. There are 3 more lots across the street for sale 3816, 3820, 3824 two have homes on them and the other is a empty Lot on the corner. All can be purchased as a package or as individuals. Double lot totaling .3856 AC's. Selling for lot value and potential future commercial use. The manager has listed the unit size as 1384 square feet.
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| Oct 11, 2020 | No longer available | - | |
| No longer available | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017