Chip and Joanna Gaines buy $425K castle in Waco, Texas

WACO, Texas — Add a castle to the list of properties Chip and Joanna Gaines have across Waco.

KCEN reported the "Fixer Upper" couple's Magnolia Realty business bought Cottonland Castle, a 129-year-old historic structure in the town. The 6,700-square-foot home in the Castle Heights neighborhood was listed at $425,000, minus renovation costs.

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"I can confirm that Magnolia has purchased the historic Cottonland Castle," Magnolia Realty spokesperson John Marsciano told KCEN in a statement. "For nearly two decades, Chip and Joanna have admired the property as a hallmark of the Castle Heights neighborhood—they've even made past attempts to purchase it. The property is an iconic piece of Waco's history and while specific plans have not yet been determined, one thing is for certain: their efforts will focus on fully completing the home's long overdue and well deserved restoration."

WTHR reported that the historic home was last purchased in 2014. It has three bedrooms and two and a half bathrooms.

According to Waco's history website, it has gone through more than half a dozen owners since local stone contractor John Tennant began construction on the home in 1890 as the cotton industry was booming.

Magnolia is the name of a number of the Gaines' businesses, named after the tree from which Chip Gaines pulled a flower to give to Joanna Gaines on one of their first dates.

The couple -- who are parents to five kids -- stay busy. In addition to Magnolia Realty, the couple owns Magnolia Table restaurant, Magnolia Home furniture and accessories; home decor, clothes, books and apparel -- plus vacation rentals, an upcoming TV network and other projects.

Cox Media Group