In-Band Full-Duplex (IBFD) is a technique that enables a wireless node to simultaneously transmit a signal and receive another on the same frequency band. Thus, IBFD wireless systems can theoretically provide up to twice the channel capacity compared to conventional Half-Duplex (HD) systems. In order to study the feasibility of IBFD networks, reliable models are needed to capture anticipated benefits of IBFD above the physical layer (PHY). In this paper, an accurate analytical model based on Discrete-Time Markov Chain (DTMC) analysis for IEEE 802.11 Distributed Coordination Function (DCF) with IBFD capabilities is proposed. The model captures all parameters necessary to calculate important performance metrics which quantify enhancements introduced as a result of IBFD solutions. Additionally, two frame aggregation schemes for Wireless Local Area Networks (WLANs) with IBFD features are proposed to increase the efficiency of data transmission. Matching analytical and simulation results with less than 1% average errors confirm that the proposed frame aggregation schemes further improve the overall throughput by up to 24% and reduce latency by up to 47% in practical IBFD-WLANs. More importantly, the results assert that IBFD transmission can only reduce latency to a suboptimal point in WLANs, but frame aggregation is necessary to minimize it. Finally, energy-efficiency is compared for both HD and IBFD networks. In comparison with the HD counterpart, IBFD systems can deliver superior energy efficiency for a given traffic scenario at the cost a higher power consumption.