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Map
TBD Spring Lake Road #A
About This Property
Located just minutes from I-35, TSTC, Baylor, and downtown Waco, this approximately 2.5 acre tract offers a great balance of privacy and convenience in a growing area of McLennan County.
Lot 1 features a blend of mature trees and open space, giving flexibility for homesite placement while maintaining a natural setting. With approximately 126 feet of road frontage on Spring Lake Road, access is straightforward while still feeling tucked away from the pace of the city.
This property is part of a newly subdivided 10 acre tract, with final plat approval in progress. Boundaries shown are approximate and subject to survey. Situated outside city limits with no HOA and located in Connally ISD, this tract presents an opportunity to build with fewer restrictions and room to spread out.
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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 |
|---|---|---|---|
| Jul 2, 2026 | Price Decreased |
$125,000
↓ $25K
(16.7%) | |
| Price Decreased | |||
| May 7, 2026 | Listed by Keller Williams Realty, Waco | $150,000 | |
| Listed by Keller Williams Realty, Waco | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017