Four-Bedroom Short-Term Rental
New
For Sale
$1,095,000
118 S Church Street 118, McKinney, TX 75069
New construction with ensuite bedrooms, an attached garage, and walkable access to downtown dining, shopping, and entertainment.
Property Size3,360 SF
Days on Market4
Property Features for 118 S Church Street 118
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Business
Zoning
Town Edge
Additional Details
Multifamily Units
1
Taxes and HOA fees
Annual Taxes
$1,240
Building Details
Building Size
3,360 SF
Year Built
2026
Listing Agency:
OnDemand Realty
Listed By:
Rhonda Borgne · License #0560610
(512) 771-2684
Source:
Baerealty
Added: Sep 22
Changed: Sep 23
Last Checked: Sep 24 at 6:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of OnDemand Realty
Investment Insights
Based on property information with market context.
This newly constructed residence, completed in 2026, includes four private bedrooms with ensuite baths, premium finishes, and an attached two-car garage. The home is positioned for short-term rental use, executive housing, boutique office use, or premium residential occupancy, subject to applicable zoning and local regulations.
Located on S Church Street in Historic Downtown McKinney, the property offers walkable access to dining, boutique shopping, entertainment, and year-round events. It is within the Town Edge zoning district and may be acquired individually or as part of the Church Street Collection, which includes two additional residences.
Located on S Church Street in Historic Downtown McKinney, the property offers walkable access to dining, boutique shopping, entertainment, and year-round events. It is within the Town Edge zoning district and may be acquired individually or as part of the Church Street Collection, which includes two additional residences.
Key Highlights
- Four private ensuite bedrooms
- Attached two‑car garage
- New construction completed in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$58,419
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,380
$1.2M
Cap Rate 7%
$834,557
$834.6K
Cap Rate 9%
$649,100
$649.1K
Market Conditions
NOI Build-Up for 3,360 SF
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.
Gross rent
$118.9K $35.40/SF
− Vacancy
−$12.7K −$3.79/SF
EGI
$106.2K $31.61/SF
− OpEx
−$47.8K −$14.23/SF
NOI
$58.4K $17.39/SF
Area
McKinney, TX
Vacancy
10.70%
Lease Rate
$35.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,168,380
Cap Rate 7%
$834,557
Cap Rate 9%
$649,100
Alternative Uses
Best Use
Apartment 5plus
$834.6K
$730.2K – $973.7K
NOI $58,419 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.6K
$826.6K – $1.10M
NOI $66,125 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 75069, TX
39,084
Population
16,958
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
88%
High-School Grad
33.7 sq mi
ZIP Area
1,160
Density / Sq Mi
$82,804
Median Household Income
$42,816
Median Earnings
$1,530
Median Rent
$413,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Short term rental property - New construction with ensuite bedrooms, an attached garage, and walkable access to downtown dining, shopping, and entertainment.
Where is this short term rental property located?
The property is located at 118 S Church Street 118 McKinney, TX.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Four private ensuite bedrooms; Attached two‑car garage; New construction completed in 2026
