Historic McKinney Multifamily Investment
303 N Waddill Street, McKinney, TX 75069
New
Apartment - McKinney, TX
Type:Apartment
Property size:
5,960 SFLot size:
0.20 AcresPrice / SF:
$251/SF- Added:
- May 21, 2026
- Days on Market:
- 6
- Last Refresh:
- May 26 at 6:06 am
Property Features for 303 N Waddill Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- Parking
- 8
- Parking features
- Driveway, Garage
- Interior features
- Eat-in Kitchen, High Speed Internet Available
- Appliances
- Dishwasher, Microwave, Oven - Gas, Washer
- Standard status
- Active
- APN
- R0835008001D1
- Size
- 5,960 SF
- Lot size
- 0.20 Acres
Utilities
- Heating system
- Natural Gas
- Cooling system
- Central Air
Building Details
- Year built
- 1953
- Floors in Building
- 2
- Flooring type
- Linoleum, Wood
- Roof type
- Shingle
- Architectural style
- Other
Listing agent Hannah Ewing License #0716543 (214) 454-4607
Listing office Acquisto Real Estate 8146 County Road 860, Frisco, TX (214) 454-4607
Listing date May 21, 2026
MLS# 21184202
Listing URL
Copyright © 2026 North Texas Real Estate Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime location steps from Historic Downtown McKinney Square, a vibrant and walkable destination.
- Income‑producing multi‑family property with eight individual apartments.
- Versatile property suitable for various uses: luxury bed and breakfast, boutique hotel, short‑term rentals, or multi‑family concept.
- Abundant on‑site parking, a rare and valuable asset in downtown McKinney.
- Three distinct structures (fourplex, garage apartments, duplex) offering multiple income streams.
- Proven track record supporting income stability and flexibility for mission‑driven use.
Overview
This multifamily property features three buildings comprising eight individual apartments, situated steps from Historic Downtown McKinney Square. Located in Collin County, the property is positioned in downtown McKinney, near festivals, dining, boutique shopping, and events. The site includes a historic two-story home converted into a fourplex, a five-car garage with two apartments above, and a duplex with on-site laundry facilities and an office. The property has on-site parking. The buildings are located on a single lot. The property is suited for uses such as a bed and breakfast, boutique hotel, short-term rental compound, or multi-family concept. It also offers long-term rental potential and has supported a nonprofit housing initiative. The property offers multiple paths for income generation, repositioning, or future redevelopment. The property size is 5960 square feet and the lot size is 0.195 acres.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.15M
NOI $103,625 @ 9.00% cap · cautious / downside scenario
Moderate
$1.48M
NOI $103,625 @ 7.00% cap · market / base-case scenario
Aggressive
$2.07M
NOI $103,625 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $211.0k | $35.40 |
| − Vacancy | −$22.6k | −$3.79 |
| EGI | $188.4k | $31.61 |
| − OpEx | −$84.8k | −$14.23 |
| NOI | $103.6k | $17.39 |
5,960 SF · lease $35.40/SF/yr · vacancy 10.70% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.48M
$1.30M – $1.73M
NOI $103,625 @ 7.0% cap · market cap 6.91%
Second Best
Hotel Hospitality
$515.6K
$451.2K – $601.6K
NOI $36,095 @ 7.0% cap · market cap 2.41%
Theoretical Best
Office A
$1.68M
$1.47M – $1.95M
NOI $117,293 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Bed & breakfasts
Location Insight
- Map
- Local Demand
- City
- McKinney
- County
- Collin
- State
- Texas
- Longitude
- -96.626801
- Latitude
- 33.199424
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Income-producing multifamily property near Historic Downtown McKinney Square.
Where is this apartment building located?
The property is located at 303 N Waddill Street McKinney, TX.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location steps from Historic Downtown McKinney Square, a vibrant and walkable destination.; Income‑producing multi‑family property with eight individual apartments.; Versatile property suitable for various uses: luxury bed and breakfast, boutique hotel, short‑term rentals, or multi‑family concept.
