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Waco 76710 Richland Hills
501 Richland Drive
$247,400
● House - Off Market

501 Richland Drive

Waco, TX 76710
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,522 Ft²
$1,228
Est. Monthly

About This Property

More Space, More Possibilities! If you've been dreaming of a home with room to breathe, without breaking the bank, this is it! You'll enjoy a flexible floorplan ready to fit your needs with a cozy fireplace, 2 living areas, and a 4th bedroom that includes its own private entrance with a full bath. Tucked in a convenient location close to shopping and hospitals, this property is ready to welcome you home!
Unit Size
2,522 Ft²
Days on Market
-
Land Size
0.22 acres
Price per sqft
$99
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1968

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

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.

Last updated: 2 years ago (NTREIS #20922541)

Price History

Date / Event Date Event Price
Jun 23, 2025 Sold
Premium
Sold
May 23, 2025 In contract -
In contract
May 15, 2025 Price Decreased $249,900
↓ $10K (3.9%)
Price Decreased
May 1, 2025 Listed by Bentwood Realty $259,900
Listed by Bentwood Realty

Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1968
  • Effective Year Built: 1978
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 3
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 17
  • Building Style: 0
  • Exterior Walls Type: 3
  • Interior Walls Type: 0
  • Roof Shape Type: 3
  • Roof Cover Type: 3
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 9
  • Basement Type: 0
  • Basement Area: 0
  • Parking Type: 6
  • Garage Type: 7
  • Garage Square Area: 484
  • Parking Space Count: 2
  • Patio Type: 20
  • Porch Type: 7
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,600
  • Lot Size Depth Feet: 1,200
  • Lot Size Frontage Feet: 800
  • Total Building Area: 2,522
  • Gross Building Area: 2,522
  • Building Area: 2,522
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 1
  • Heating: 3
  • Heated Square Feet: 2,522
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: RICHLAND HILLS
  • Land Acres: 0000000220
  • Standard Land Use Code: 1001
  • County Land Use Code: A1
  • State Land Use Code: A1
  • Legal Description 1: RICHLAND HILLS LOT Q BLOCK H ACRES .2204

Neighborhood

  • School District Name: Waco Independent School District
  • Census Tract: 002302

Zoning

  • Zoning: R2

Geography

  • Assessors Map Reference: PG 154A
  • Parcel: 48-034905-010701-1
  • Block: H
  • Lot: Q
  • Municipality: CITY OF WACO
  • Latitude: 31.5216
  • Longitude: -97.1889

    Address

  • Full Address: 501 Richland Dr
  • Address - House Number: 501
  • Address - Street Name: Richland
  • Address - Suffix Type: Dr
  • State: TX
  • City Name: Waco
  • Carrier Code: C096
  • 4-Digit Zip Code: 6241
  • Zip Code: 76710

Valuation

    Tax

  • Tax Year: 2022
  • Tax Amount: $462,981
  • Tax Rate Code Area: 86

    Appraisal Valuation

  • Standard Deviation: 0.2755
  • Valuation Date: Sep 06, 2023
  • Confidence Score: 60
  • Final Value: 277,451
  • High Value: 353,913
  • Low Value: 200,990

    Market Valuation

  • Market Total Value: $250,000
  • Market Land Value: $29,760
  • Market Improvement Value: $220,240

    Assessments Valuation

  • Assessed Year: 2023
  • Assessed Total Value: $202,312

    Exemptions

  • Homeowner Exemption: Yes

    Sales

  • Current Sale Contract Date: Apr 04, 2017
  • Current Sale Recording Date: Apr 07, 2017
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 70
  • Current Sale Input Document Number: 2017010996
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Richland Hills

Stats & Trends

Median Asking:

$209,500

Sale Price/ft²

$129

Below Asking

0.01%

Average Days on Market

53

Average Home Size

1876 ft²

Average Home Age

64 years

Currently For Sale

4 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 3520 Homan Avenue, Waco, TX, 76707

$2,095 /mo

  • 3 Beds
  • 2 Baths
  • 1,434 ft²
3520 Homan Avenue, Waco, TX, 76707 Listing by Harris Arnhart

Rentals Near You

Click here to view more rentals in the neighborhood.
NTREIS

Listed by: Kristi Baker, Bentwood Realty
Last Updated: 2 years ago
Data Source: NTREIS MLS, MLS# 20922541
Details provided by NTREIS and may not match the public record

Frequently Asked Questions

When was property at 501 Richland Drive built and last sold?
The property at 501 Richland Drive was built in 1968 and last sold on Apr 4, 2017 for $125,000.
How much is this home worth?
The estimated value of the home located at 501 Richland Drive is $0.
What are some comparable homes to 501 Richland Drive?
There are currently no comparable homes to 501 Richland Drive.
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