Buying In Waco, TX
Sell Your Commercial Property In Waco, TX
From Downtown Waco to Woodway, we buy Waco multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: Downtown Waco · Baylor area · Woodway · Hewitt — McLennan County, TX
Why Waco
Why We Buy Multifamily In Waco
Waco, Texas, the seat of McLennan County, has 143,570 residents under ACS 2020-2024 and a renter share of 50.6%, above the 38.2% McLennan County figure and the 37.4% statewide figure. Buildings with five or more units hold 26.1% of its housing, and half of Waco’s homes predate 1980.
Owners who want to sell commercial property in Waco, TX face a combined 2025 property tax rate of $2.116405 per $100 and a median rent of $1,165, below the McLennan County and Texas medians. This profile covers renters, rents, taxes, landlord rules and what they mean for value near Baylor University.
Baylor University enrollment
Baylor University enrolled 19,613 students in Spring 2025 by headcount, per the university's Office of Institutional Research and Testing enrollment report dated February 2025.Hillcrest hospital expansion
Baylor Scott & White Medical Center - Hillcrest in Waco operates 260 staffed beds after a 2021 expansion, per the system's news release; Ascension Providence operates a second Waco hospital.Magnolia tourism and I-35 freight
Travel spending tied to Waco MSA attractions like Magnolia Market reached $783 million in 2022, up 12% over 2021, per the Texas Office of the Governor's Economic Development and Tourism division.Our Buy Box
What We Buy In Waco
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Waco Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Waco
Renters occupy 50.6% of Waco’s occupied homes, or 27,258 of 53,906 households, under ACS 2020-2024 tenure data. McLennan County’s renter share is 38.2% and Texas’s is 37.4%.
Buildings with five or more units make up 26.1% of Waco’s housing stock, or 15,989 of 61,163 homes, per ACS units-in-structure data. Median year built in Waco is 1979, and 50.9% of homes predate 1980, both older than the McLennan County and statewide figures.
Rents and affordability in Waco
Waco’s median gross rent is $1,165 a month under ACS 2020-2024 data, close to the $1,173 McLennan County figure and under the $1,403 statewide median. Investors who sell commercial real estate in Waco, TX should weigh that rent gap before pricing a deal.
Rent burden is heavy: 54.7% of Waco renters pay 30% or more of income on rent, and 30.7% pay 50% or more, per ACS table B25070.
| HUD FY2027 FMR | Waco, TX HUD Metro FMR Area |
|---|---|
| Efficiency | $903 |
| One-bedroom | $1,029 |
| Two-bedroom | $1,297 |
| Three-bedroom | $1,693 |
Figures are HUD fair market rents for McLennan County, effective October 1, 2026.
Property taxes in McLennan County
A Waco property inside Waco ISD carries a combined 2025 rate of $2.116405 per $100 of taxable value, before special districts: City of Waco $0.755000, McLennan County $0.334805 and Waco ISD $1.026600, from the McLennan County 2025 tax rate schedule.
On a $2,000,000 taxable value, that rate produces $42,328.10 a year: $15,100.00 city, $6,696.10 county and $20,532.00 school district. Owners who sell commercial property in Waco, TX should run their own appraisal notice through this math before listing.
An owner protests value by May 15 or 30 days after notice delivery, whichever is later, under Tax Code Section 41.44. Texas levies no real estate transfer tax, and the McLennan County Clerk’s fee schedule sets $15.00 for a one-page deed.
Landlord rules in Waco
Texas requires at least three days’ written notice to vacate before an eviction suit after a tenant default, unless the written lease sets a different period, under Property Code Section 24.005.
A landlord must refund a security deposit by the 30th day after the tenant surrenders the premises, under Property Code Section 92.103. A Texas city may adopt rent control only after finding a disaster-related housing emergency and winning the governor’s approval, per Local Government Code Section 214.902, so an owner selling commercial property in Waco faces no local rent caps absent that finding.
What it means for a Waco owner
Waco’s older housing stock, at a 1979 median year built, pairs with a combined tax rate of $2.116405 per $100 that outweighs its below-state median rent. Owners who sell commercial property in Waco, TX need to underwrite both the age of the building and the McLennan County tax bill, not rent alone, to land on a realistic value.
Skyline Capital Investments buys apartment buildings with five or more units. Owners ready to sell your apartment building in Waco can start with our cap rate calculator or our sell my apartment building page.
Good To Know
Selling In Waco
More about selling in Texas →Investing in Waco? See apartment syndications in Waco →
- Waco's 1979 median year built trails McLennan County and Texas, meaning more rental stock needs capital work.
- Waco's household income of $54,365 trails the county figure, worth weighing before an owner moves to sell commercial real estate in Waco, TX.
- Waco ISD's $1.026600 rate is nearly half of the combined 2025 bill, the largest slice an owner carries before a sale.
Seller Guides
Selling In Waco? Common Situations We Handle
Learn More
Taxes & Rules For Waco Property
The Texas rules that shape any deal in Waco: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Waco Seller FAQ
How do I sell commercial property in Waco, TX?
Start by pulling rent rolls and the current McLennan County appraisal notice, since Waco's combined 2025 tax rate of $2.116405 per $100 takes a meaningful share of net income. Price the building against buyer cap rates, then list with a broker or a direct buyer once the numbers are documented.
What is the property tax rate in Waco, Texas?
Inside Waco ISD the combined 2025 rate is $2.116405 per $100 of taxable value: city $0.755000, county $0.334805 and school district $1.026600, before special districts, per the McLennan County tax rate schedule. A $2,000,000 taxable value owes $42,328.10 a year.
Does Waco have rent control?
No. Under Local Government Code Section 214.902, a Texas city may adopt rent control only after its governing body finds a disaster-related housing emergency and the governor approves the ordinance. Absent that finding, Waco owners set rents through leases and market conditions alone.
How much do renters pay in Waco, TX?
Waco's median gross rent is $1,165 a month under ACS 2020-2024 data, below the $1,173 McLennan County figure. HUD's FY2027 two-bedroom fair market rent is $1,297 for the Waco, TX HUD Metro FMR Area, which covers all of McLennan County.
What does it take to sell commercial real estate in Waco, TX?
Buyers underwrite Waco's 1979 median year built against its $2.116405 combined tax rate, since 50.9% of the housing stock predates 1980 and may need capital work. Owners who sell multifamily property in Waco gain by documenting recent unit updates before marketing a deal.
What if my Waco building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in McLennan County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Who buys occupied rental property in Waco?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
How fast can I sell my apartment building in Waco?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
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