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WATCH NOW: Three smallish homes flanking the famed “shotgun house” in Waco are carrying a $2.05 million asking price for the set.
Known as the “shotgun house” on South Seventh Street, it produced awe back in 2017 upon hitting the market priced at $950,000. Its selling points: close proximity to Magnolia Market at the Silos and a starring role in a Season 3 episode of Chip and Joanna Gaines’ “Fixer Upper” program.
The McLennan County Appraisal District values the home at $200,000 for tax purposes. But owners Cameron and Jessie Bell remain undeterred. They have nearly completed three companion pieces on South Seventh Street, smallish homes flanking the shotgun house and carrying a $2.05 million asking price for the set. February is the target date for occupancy, said Lisa Monroe, a Triliji Group real estate agent listing the properties.
A group passes trio of short-term rental properties in the 600 block of South Seventh Street that are on the market for $2.05 million. The houses are owned by the same person who owns the shotgun house next door, left, that was featured in “Fixer Upper’s” third season and is also on the market for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
The shotgun house remains available for $950,000, and generates more than $90,000 in short-term rentals annually, Monroe said. It and its new neighbors represent prime investment property near downtown and Magnolia Market, she said. Baylor University parents attended an open house she hosted the weekend before last, coinciding with Baylor’s homecoming, she said.
“The whole street except for one house is short-term rentals,” Monroe said.
The short-term rentals include a handful the Bells do not own, but the couple, who reside in Denton, now have built on all their property on South Seventh Street, Monroe said.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
Marketing material appearing on LoopNet calls the three houses included in the package “meticulously curated and designed” and featuring “modern architecture and top-tier amenities.”
“What sets these homes apart is their zoning that allows Short-Term rentals, making them an investors dream,” the advertisement says. “You can expect a healthy return on investment in a location that is always in demand. The properties are designed to accommodate a constant flow of guests while delivering on style and comfort.”
The three properties being packaged include Unit A, 1,096 square feet, two bedrooms, two baths; Unit B, 736 square feet, one bedroom, one bath; Unit C1, 866 square feet, two bedrooms, two baths; and Unit C2, also 866 square feet, two bedrooms and two baths.
At about 3,500 square feet combined, the three units are priced at $587 per square foot, more than twice the rate being fetched by homes in Tanglewood Estates, a new upscale subdivision in Woodway.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
Custom homes being built there range from $500,000 to $1.6 million, or about $235 to $275 per square foot, including land, Waco custom homebuilder Scott Bland said. Homes in a more established neighborhood with a few lots available may cost $215 to $240 a square foot, with the rising costs of land, labor and materials having sent home prices climbing, he said.
Bland said builders view price per square foot as a “horrible metric,” as an array of variable can skew results, “but it’s what we have to work with.”
“Our short term rental market is definitely growing,” Waco Director of Tourism and Conventions Dan Quandt said by email. “Our Waco Welcome Center does occasional referrals to one called The Shotgun House, mostly due to being featured on Fixer Upper.”
“Fixer Upper” is the television show that launched Chip and Joanna Gaines into the public consciousness, the couple taking what they described as the worst houses in the best neighborhoods and transforming them into dream homes for buyers willing to foot the bill for usually major renovations.
Another property, the Urban Myrtle Bungalow at 618 S. Seventh St., touts its location as “291 steps from Magnolia’s front door.” Most of this month, it is priced at $295 per night with a two-night minimum, plus a $120 cleaning fee and a $100 Airbnb service fee, for a $810 total before taxes. It offers three bedrooms, five beds, two baths, and accommodates up to nine guests.
The shotgun house is listed at $282 per night during much of November. It will accommodate two guests with one bedroom and one bath.
Quandt cited research from the firm AirDNA showing 107 active short-term rental listings in Zip code 76701, which is bounded by Waco Drive, 25th Street, Lake Brazos and near where South Seventh Street intersects Clay Avenue.
Greater Waco has 933 active short-term rentals, though the number renting at one time is around 700, he said, citing AirDNA.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
Cameron Bell moved what would become the shotgun house from South 10th Street in 2015, when a developer was poised to raze it to create space for a commercial venture across Interstate 35 from Baylor University.
At the time, Bell told the Tribune-Herald he became intrigued with the long, skinny house on a visit to Waco, saying it was similar to houses he had seen in southern Louisiana.
Bell said he paid no heed to suggestions he build from scratch near downtown, saying he would rather preserve a structure decades old.
The Bells’ decision to ask $950,000 for the home in 2017 after the Gaineses completed their “Fixer Upper” treatment made headlines far and wide.
Tony real estate brokers such as Briggs Freeman Sotheby’s International Realty in Dallas and Dallas-based Ebby Halliday Realtors carried the listing.
Jennifer Roberts, with Sotheby’s International, said at the time its potential as a bed-and-breakfast locale enhanced the home’s value, and asking price.
“It’s a ‘Fixer Upper’ home within walking distance of the Silos, within walking distance of Baylor University and not far from the river and riverwalk project there,” Roberts said. “The Bells don’t live there, have never lived there and view it as investment property.”
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
Local residential sales specialist Trammell Kelly was among local real estate agents floored by what the Bells were asking for the smallish home.
“I’m not going to be critical of what they’re doing by any means. People like the efficiency and minimalist aspect of some properties, and they do have their place,” Kelly said in 2017. “But I’ve never, ever seen one with that kind of price tag on it, like it’s on a beach in California. But if someone pays that, more power to them. It will be a game-changer for the local market.”
Now, six years later, Kelly said he is not shocked by the proposed $2.05 million package deal, considering how Magnolia and downtown have changed.
“You absolutely cannot overlook what Magnolia has done, and is doing, but you also have to branch out,” Kelly said. “Downtown developments coming up are just incredible. Every time I go down there, I have to say, ‘Oh, my gosh, what’s going on here?’ I’ll use the word nucleus as the term to describe what Magnolia has ignited. I don’t think anyone would disagree with that. It has ignited an engine that cannot help but be a springboard for other things: commercial, residential, hotels, retail. Just look what’s going on.”
Kelly said the growth is “controlled, not an explosion.”
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
One might wonder if the growing number of short-term rentals will cut into the lodging market hotels have staked out for themselves.
Not necessarily, said Justin Edwards, Waco Hilton and Courtyard Downtown area manager who chairs Waco Tourism Public Improvement District board.
“Short-term rentals provide several benefits to cities while having minimal impact on hotels,” Edwards said by email. “One key advantage is that short-term rental guests are often seeking a unique, personalized experience that differs from traditional hotel stays. These guests are looking for accommodations that offer a home-like feel, allowing them to immerse themselves in the local culture and neighborhood.”
He said hotels “excel in providing consistent services, amenities, and access to on-site facilities. … Their coexistence benefits cities by providing diverse options for different types of guests.”
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
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WATCH NOW: Three smallish homes flanking the famed “shotgun house” in Waco are carrying a $2.05 million asking price for the set.
A group passes trio of short-term rental properties in the 600 block of South Seventh Street that are on the market for $2.05 million. The houses are owned by the same person who owns the shotgun house next door, left, that was featured in “Fixer Upper’s” third season and is also on the market for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
A trio of properties in the 600 block of South Seventh Street, next door to the shotgun house featured in “Fixer Upper’s” third season, are on the market for $2.05 million. The shotgun house, with the same owner, is listed for $950,000.
Triliji Group real estate agent Lisa Monroe is listing a trio of properties in the 600 block of South Seventh Street for $2.05 million. She also is listing the shotgun house in the same block that was featured in “Fixer Upper’s” third season, for $950,000.
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