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Diligence file / Single property

2601–2603 Summer Ave

2601–2603 Summer Ave, Waco, TX

Priority 1Evidence as of 2026-09-05
Open screening scenario ↗

Overview

Current ask

$360,000USD
LISTING-STATED
Listing only · high support confidence
Sources, caveats & notes

Active asking price, not a value conclusion.

Research current as of 2026-09-05

View source

Year built

1949Year
LISTING-STATED
Multi source corroboration · high support confidence
Sources, caveats & notes

Consistent secondary sources; direct authoritative record not archived.

Research current as of 2026-09-05

View sourceView source

Building area

2,876Square feet
LISTING-STATED
Multi source corroboration · high support confidence
Sources, caveats & notes

Consistent secondary/listing reproduction; no direct survey or CAD sheet archived.

Research current as of 2026-09-05

View sourceView sourceView source

Apparent / marketed units

4Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Sources, caveats & notes

Four physical units are strongly supported by current marketing; assessor-derived characteristics conflict and legal use is unknown.

Research current as of 2026-09-05

View sourceView source

Unit configuration

Two bedroom one bath units
2
One bedroom one bath units
2
Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Sources, caveats & notes

Current marketing totals 6BR/4BA; appraisal-derived characteristics report 4BR/3.5BA.

Research current as of 2026-09-05

View sourceView source

Parcel identifier

480176000063004
LISTING-STATED
Authoritative reproduction · high support confidence
Sources, caveats & notes

Repeated public-record reproduction; direct McLennan CAD record still required.

Research current as of 2026-09-05

View sourceView source

The diligence brief

Why it ranks

Priority 1 because public verification strengthened the four-unit configuration and the itemized rent-comp set materially improved the rent thesis. The ranking remains provisional until lawful four-unit use and actual rents are established.

Priority is a diligence sequence, not an investment recommendation.

What could change the case

  • Marketed unit count: Four physical units are strongly supported by current marketing; assessor-derived characteristics conflict and legal use is unknown.
  • Marketed unit mix: Current marketing totals 6BR/4BA; appraisal-derived characteristics report 4BR/3.5BA.
  • Aggregate bed bath characteristics: Both reported configurations are preserved pending direct records and physical confirmation.

What the seller must prove

  • Current rent roll
  • Four executed leases and expiration schedule
  • Collections and payment evidence

What we should verify next

  • McLennan CAD account sheet, ownership, and exemptions
  • Current tax account
  • City GIS zoning

What could kill the deal

Unresolved and weakly supported fields that can change the diligence priority. These are questions to resolve, not conclusions that a defect exists.

Marketed unit count

Four physical units are strongly supported by current marketing; assessor-derived characteristics conflict and legal use is unknown.

4Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Why we believe this

Four physical units are strongly supported by current marketing; assessor-derived characteristics conflict and legal use is unknown.

Research current as of 2026-09-05

View sourceView source

Marketed unit mix

Current marketing totals 6BR/4BA; appraisal-derived characteristics report 4BR/3.5BA.

Two bedroom one bath units
2
One bedroom one bath units
2
Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Why we believe this

Current marketing totals 6BR/4BA; appraisal-derived characteristics report 4BR/3.5BA.

Research current as of 2026-09-05

View sourceView source

Aggregate bed bath characteristics

Both reported configurations are preserved pending direct records and physical confirmation.

Current marketing
6BR/4BA
Appraisal derived reproduction
4BR/3.5BA
CONFLICT
Authoritative reproduction · medium support confidence
Why we believe this

Both reported configurations are preserved pending direct records and physical confirmation.

Research current as of 2026-09-05

View sourceView source

Legal four unit use

No directly archived legal-use, certificate-of-occupancy, or lawful-nonconforming evidence.

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Why we believe this

No directly archived legal-use, certificate-of-occupancy, or lawful-nonconforming evidence.

Research current as of 2026-09-05

View sourceView source

Zoning

Direct City GIS result required; zoning alone would not prove lawful four-unit use.

Redfin reproduction
R-3E
Compass reproduction
O-2/O2
CONFLICT
Authoritative reproduction · low support confidence
Why we believe this

Direct City GIS result required; zoning alone would not prove lawful four-unit use.

Research current as of 2026-09-05

View sourceView source

Flood status

No parcel/building-footprint authoritative determination was captured.

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Why we believe this

No parcel/building-footprint authoritative determination was captured.

Research current as of 2026-09-05

View source

Permitted renovation

No reproducible City permit record was captured; absence from research is not evidence of no permits.

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Why we believe this

No reproducible City permit record was captured; absence from research is not evidence of no permits.

Research current as of 2026-09-05

View source

Current owner and exemptions

Direct CAD/title evidence required.

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Why we believe this

Direct CAD/title evidence required.

Research current as of 2026-09-05

No source attached

Current lease rent

Rent roll, executed leases, and collections evidence required.

UNKNOWNUSD per month
UNKNOWN
Unknown basis · low support confidence
Why we believe this

Rent roll, executed leases, and collections evidence required.

Research current as of 2026-09-05

No source attached

Rent evidence

ASKING RENT COMPS · Advertised asks are not executed rents or verified collections.

Stabilized total supported range

$3,650–$4,300USD per month
ESTIMATED
Analyst estimate · medium support confidence
Sources, caveats & notes

Asking-rent-based stabilized range; the range is more important than the midpoint.

Research current as of 2026-09-05

View source

Screening center

$3,900–$4,000USD per month
ESTIMATED
Analyst estimate · medium support confidence
Sources, caveats & notes

Useful screening center, not a conservative floor or current income.

Research current as of 2026-09-05

View source

Current lease rent

UNKNOWNUSD per month
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

Rent roll, executed leases, and collections evidence required.

Research current as of 2026-09-05

No source attached

1BR/1BA

USD per month per unit · medium-low confidence · 2026-09-05

Supported conservative Summer range from public asking rents.

Screening estimate only; not executed rent.

Supported range$725–$900
$725$900

Screening center: $800–$825

ESTIMATED Analytical asking-rent synthesis
ASKING RENT COMPS · 1BR/1BA
ObservationBeds / bathsArea (sf)Ask / monthDistanceEvidence & comparability
2604 Lasker Ave1 / 1660$6951.3 miLISTING-STATED

Listing only · Primary

Notes & sources

Older/small multifamily in a close submarket. Asking rent only.

View source
2425 Parrott Ave1 / 1500$7251.4 miLISTING-STATED

Listing only · Primary

Notes & sources

Small nearby 76707 unit. Asking rent only.

View source
2209 Homan Ave1 / 1720$7751.7 miLISTING-STATED

Listing only · Primary secondary

Notes & sources

Small older residential unit; building type differs. Asking rent only.

View source
3305 Bosque Blvd1 / 1900$7501.7 miLISTING-STATED

Listing only · Secondary

Notes & sources

Materially larger and detached-style. Asking rent only.

View source
2701 Colonial Ave Apt C1 / 1540$8501.8 miLISTING-STATED

Listing only · Primary

Notes & sources

Small unit in similar urban rental stock. Asking rent only.

View source
3916 Homan Ave #39181 / 1700$1,0251.8 miLISTING-STATED

Listing only · Primary upper context

Notes & sources

Small multifamily-style unit and upper context. Asking rent only.

View source

2BR/1BA

USD per month per unit · medium confidence · 2026-09-05

Supported conservative Summer range from public asking rents.

Screening estimate only; not executed rent.

Supported range$1,100–$1,250
$1,100$1,250

Screening center: $1,175–$1,200

ESTIMATED Analytical asking-rent synthesis
ASKING RENT COMPS · 2BR/1BA
ObservationBeds / bathsArea (sf)Ask / monthDistanceEvidence & comparability
3404 N 25th St2 / 1832$1,2750.35 miLISTING-STATED

Listing only · Primary

Notes & sources

Excellent geography and size. Asking rent only.

View source
3113 Wenz Ave2 / 1716$1,1000.38 miLISTING-STATED

Listing only · Primary

Notes & sources

Excellent geography and somewhat smaller. Asking rent only.

View source
2612 Alice Ave2 / 1964$1,2000.45 miLISTING-STATED

Listing only · Primary

Notes & sources

Excellent geography and larger. Asking rent only.

View source
3624 N 23rd St2 / 1860$1,0950.6 miLISTING-STATED

Listing only · Primary

Notes & sources

Public asking-rent observation.

View source
2221 Windsor Ave2 / 1840$1,2001.1 miLISTING-STATED

Listing only · Primary secondary

Notes & sources

Public asking-rent observation.

View source
1808-10 Windsor Ave #18082 / 1804$1,1951.3 miLISTING-STATED

Listing only · Primary

Notes & sources

Small-multifamily addressing is useful. Asking rent only.

View source
3024 Lasker Ave Unit A2 / 1858$1,1501.3 miLISTING-STATED

Listing only · Primary

Notes & sources

Relevant Lasker evidence. Asking rent only.

View source
2317 N 15th St2 / 1952$8951.35 miLISTING-STATED

Listing only · Lower context

Notes & sources

Townhome classification and lower-context ask.

View source

What we are relying on

Complete canonical fields, including load-bearing claims and estimates. No property-wide confidence score is inferred.

Asking price

$360,000USD
LISTING-STATED
Listing only · high support confidence
Sources, caveats & notes

Active asking price, not a value conclusion.

Research current as of 2026-09-05

View source

Parcel ID

480176000063004
LISTING-STATED
Authoritative reproduction · high support confidence
Sources, caveats & notes

Repeated public-record reproduction; direct McLennan CAD record still required.

Research current as of 2026-09-05

View sourceView source

Legal description

Farwell Heights, Block 17, Lot 14, approximately 0.1894 acre
LISTING-STATED
Authoritative reproduction · high support confidence
Sources, caveats & notes

Appraisal-derived reproduction; direct CAD/title record not archived.

Research current as of 2026-09-05

View source

Building area

2,876Square feet
LISTING-STATED
Multi source corroboration · high support confidence
Sources, caveats & notes

Consistent secondary/listing reproduction; no direct survey or CAD sheet archived.

Research current as of 2026-09-05

View sourceView sourceView source

Year built

1949Year
LISTING-STATED
Multi source corroboration · high support confidence
Sources, caveats & notes

Consistent secondary sources; direct authoritative record not archived.

Research current as of 2026-09-05

View sourceView source

Marketed unit count

4Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Sources, caveats & notes

Four physical units are strongly supported by current marketing; assessor-derived characteristics conflict and legal use is unknown.

Research current as of 2026-09-05

View sourceView source

Marketed unit mix

Two bedroom one bath units
2
One bedroom one bath units
2
Dwelling units
LISTING-STATEDCONFLICT FLAG
Multi source corroboration · high support confidence
Sources, caveats & notes

Current marketing totals 6BR/4BA; appraisal-derived characteristics report 4BR/3.5BA.

Research current as of 2026-09-05

View sourceView source

Aggregate bed bath characteristics

Current marketing
6BR/4BA
Appraisal derived reproduction
4BR/3.5BA
CONFLICT
Authoritative reproduction · medium support confidence
Sources, caveats & notes

Both reported configurations are preserved pending direct records and physical confirmation.

Research current as of 2026-09-05

View sourceView source

Legal four unit use

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

No directly archived legal-use, certificate-of-occupancy, or lawful-nonconforming evidence.

Research current as of 2026-09-05

View sourceView source

Zoning

Redfin reproduction
R-3E
Compass reproduction
O-2/O2
CONFLICT
Authoritative reproduction · low support confidence
Sources, caveats & notes

Direct City GIS result required; zoning alone would not prove lawful four-unit use.

Research current as of 2026-09-05

View sourceView source

Flood status

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

No parcel/building-footprint authoritative determination was captured.

Research current as of 2026-09-05

View source

Renovation claim

updated/remodeled
LISTING-STATED
Listing only · medium support confidence
Sources, caveats & notes

Marketing claim only; scope and quality are not established.

Research current as of 2026-09-05

View sourceView source

Permitted renovation

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

No reproducible City permit record was captured; absence from research is not evidence of no permits.

Research current as of 2026-09-05

View source

Current owner and exemptions

UNKNOWN
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

Direct CAD/title evidence required.

Research current as of 2026-09-05

No source attached

Stabilized total supported range

$3,650–$4,300USD per month
ESTIMATED
Analyst estimate · medium support confidence
Sources, caveats & notes

Asking-rent-based stabilized range; the range is more important than the midpoint.

Research current as of 2026-09-05

View source

Screening center

$3,900–$4,000USD per month
ESTIMATED
Analyst estimate · medium support confidence
Sources, caveats & notes

Useful screening center, not a conservative floor or current income.

Research current as of 2026-09-05

View source

Current lease rent

UNKNOWNUSD per month
UNKNOWN
Unknown basis · low support confidence
Sources, caveats & notes

Rent roll, executed leases, and collections evidence required.

Research current as of 2026-09-05

No source attached

What evidence is missing

Open questions

  • Are all four marketed dwelling units lawful, lawful-nonconforming, or otherwise authorized?
  • What are the current unit-by-unit executed rents and lease expirations?
  • Which zoning reproduction is correct?
  • What renovation work was permitted and completed?
  • What is the exact parcel-level flood status?

Seller / agent required

  • Current rent roll
  • Four executed leases and expiration schedule
  • Collections and payment evidence
  • Utility history and meter configuration
  • Renovation records, invoices, and seller-held permits

Official records required

  • McLennan CAD account sheet, ownership, and exemptions
  • Current tax account
  • City GIS zoning
  • Legal-use, certificate-of-occupancy, or lawful-nonconforming evidence
  • Permit history
  • Parcel-level flood record

Professional diligence required

  • Title and survey
  • Legal-use review where required
  • Property and system inspections
  • Property-specific insurance quote

What would change our mind

Resolution of these canonical open questions can change priority. No new numeric threshold or offer rule has been assumed.

Evidence / sources

Sources resolve through the catalog. An official portal reference does not establish that a property-specific record was captured.

Frozen research artifact

Waco Investment Intelligence Finalist Public Verification Report

research/verification/2026-09-05-waco-finalist-public-verification-report.md

Model derived · Retrieved 2026-09-05

Frozen research synthesis; underlying citation tokens are cataloged only as historical interface references.

No direct source URL was archived
Research provenance

SRC-FINALIST-VERIFICATION-REPORT

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Mls syndication

Coldwell Banker

2601-2603 Summer Ave listing

Listing only · Retrieved 2026-09-05

Current marketing corroboration of four marketed units.

No direct source URL was archived
Research provenance

SRC-SUMMER-COLDWELL-LISTING

Internal citation tokens preserve research lineage; they are not external links.

turn18search21
Rental listing

Zillow

ZPID 459854611

Listing only · Retrieved 2026-09-05

1808-10 Windsor Ave #1808 asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-1808-WINDSOR

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52095623

Listing only · Retrieved 2026-09-05

2209 Homan Ave asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2209-HOMAN

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52102128

Listing only · Retrieved 2026-09-05

2221 Windsor Ave asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2221-WINDSOR

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 2085639233

Listing only · Retrieved 2026-09-05

2317 N 15th St asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2317-N-15TH

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 441744202

Listing only · Retrieved 2026-09-05

2425 Parrott Ave asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2425-PARROTT

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

2604-Lasker-Ave-C; ZPID 2103383812

Listing only · Retrieved 2026-09-05

Asking-rent observation, not an executed lease.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2604-LASKER

Internal citation tokens preserve research lineage; they are not external links.

turn2search1, turn2search20
Rental listing

Zillow

ZPID 52093223

Listing only · Retrieved 2026-09-05

2612 Alice Ave asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2612-ALICE

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 2115539817

Listing only · Retrieved 2026-09-05

2701 Colonial Ave Apt C asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-2701-COLONIAL-C

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 464850207

Listing only · Retrieved 2026-09-05

3024 Lasker Ave Unit A asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3024-LASKER-A

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52103282

Listing only · Retrieved 2026-09-05

3113 Wenz Ave asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3113-WENZ

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52088659

Listing only · Retrieved 2026-09-05

3305 Bosque Blvd asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3305-BOSQUE

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52093270

Listing only · Retrieved 2026-09-05

3404 N 25th St asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3404-N-25TH

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 52092717

Listing only · Retrieved 2026-09-05

3624 N 23rd St asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3624-N-23RD

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Rental listing

Zillow

ZPID 2052974570

Listing only · Retrieved 2026-09-05

3916 Homan Ave #3918 asking-rent observation.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMP-3916-HOMAN-3918

Internal citation tokens preserve research lineage; they are not external links.

No historical citation tokens
Public record reproduction

Compass

APN 480176000063004 zoning field

Authoritative reproduction · Retrieved 2026-09-05

Secondary zoning field reports O2/O-2; conflicts with Redfin.

No direct source URL was archived
Research provenance

SRC-SUMMER-COMPASS-ZONING

Internal citation tokens preserve research lineage; they are not external links.

turn21search4
Public record reproduction

HAR

APN 480176000063004

Authoritative reproduction · Retrieved 2026-09-05

Appraisal-derived fields and current MLS syndication; direct authoritative record not archived.

No direct source URL was archived
Research provenance

SRC-SUMMER-HAR-RECORD

Internal citation tokens preserve research lineage; they are not external links.

turn3search2, turn14search10
Listing platform

Homes.com

2601-2603 Summer Ave listing

Listing only · Retrieved 2026-09-05

Marketing uses newly remodeled language; no permit evidence.

No direct source URL was archived
Research provenance

SRC-SUMMER-HOMES-LISTING

Internal citation tokens preserve research lineage; they are not external links.

turn18search19
Public record reproduction

Realtor.com

APN 480176000063004

Authoritative reproduction · Retrieved 2026-09-05

Secondary reproduction of parcel and property fields; direct CAD record not archived.

No direct source URL was archived
Research provenance

SRC-SUMMER-REALTOR-RECORD

Internal citation tokens preserve research lineage; they are not external links.

turn28search2
Public record reproduction

Redfin

APN 480176000063004 zoning field

Authoritative reproduction · Retrieved 2026-09-05

Secondary zoning field reports R-3E; conflicts with Compass.

No direct source URL was archived
Research provenance

SRC-SUMMER-REDFIN-ZONING

Internal citation tokens preserve research lineage; they are not external links.

turn21search1
Listing platform

Zillow

2601-2603 Summer Ave listing

Listing only · Retrieved 2026-09-05

Current listing and reproduced tax/property fields; no direct URL was preserved in the frozen report.

No direct source URL was archived
Research provenance

SRC-SUMMER-ZILLOW-LISTING

Internal citation tokens preserve research lineage; they are not external links.

turn18search1, turn28search0, turn28search4
Official portal

City and County flood resources

Record identifier UNKNOWN

Unknown basis · Retrieved 2026-09-05

No address-level authoritative flood determination was captured.

No direct source URL was archived
Research provenance

SRC-WACO-FLOOD-RESOURCES

Internal citation tokens preserve research lineage; they are not external links.

turn8search2, turn28search22
Official portal

City of Waco GIS

Record identifier UNKNOWN

Unknown basis · Retrieved 2026-09-05

Official portal was located, but no reproducible address-level record was archived.

No direct source URL was archived
Research provenance

SRC-WACO-GIS-PORTAL

Internal citation tokens preserve research lineage; they are not external links.

turn23view2
Official portal

City of Waco development permit portal

Record identifier UNKNOWN

Unknown basis · Retrieved 2026-09-05

Official portal was located, but no reproducible subject permit record was captured.

No direct source URL was archived
Research provenance

SRC-WACO-PERMIT-PORTAL

Internal citation tokens preserve research lineage; they are not external links.

turn8search22