Four-Bedroom Short-Term Rental
New
For Sale
$1,095,000
118 S Church Street #118, McKinney, TX 75069
Newly constructed residence with private ensuite bedrooms and an attached two-car garage in a walkable historic downtown setting.
Property Size3,360 SF
Price / SF$326.87
Days on Market4
Property Features for 118 S Church Street #118
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Commercial
Zoning
Township Edge
Building Details
Building Size
3,360 SF
Year Built
2026
Stories
3
Units
1
Listing Agency:
OnDemand Realty
(405) 833-2338
Listed By:
Rhonda Borgne · License #0560610
(405) 833-2338
Source:
Cuddrealtyinc
Added: Aug 11
Changed: Aug 13
Last Checked: Aug 13 at 12:34PM
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 3,350-square-foot residence was constructed in 2026 and features four private ensuite bedrooms, premium finishes, and an attached two-car garage. The layout supports use as a single upscale residence, with the property classified for short-term rental use and located in the Township Edge zoning district.
The home is at 118 S Church Street #118 in McKinney’s Historic Downtown district. Dining, boutique shopping, entertainment, and year-round events are described as walkable from the property. Potential applications identified for the site include short-term rental, executive housing, boutique office use, or premium residential ownership, subject to applicable zoning and local regulations.
The home is at 118 S Church Street #118 in McKinney’s Historic Downtown district. Dining, boutique shopping, entertainment, and year-round events are described as walkable from the property. Potential applications identified for the site include short-term rental, executive housing, boutique office use, or premium residential ownership, subject to applicable zoning and local regulations.
Key Highlights
- 3,350‑square‑foot residence constructed in 2026
- Four private ensuite bedrooms
- Attached two‑car garage
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
$58,245
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
5.32%
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%
$1,164,900
$1.2M
Cap Rate 7%
$832,071
$832.1K
Cap Rate 9%
$647,167
$647.2K
Market Conditions
NOI Build-Up for 3,350 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
$118.6K $35.40/SF
− Vacancy
−$12.7K −$3.79/SF
EGI
$105.9K $31.61/SF
− OpEx
−$47.7K −$14.23/SF
NOI
$58.2K $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%
$1,164,900
Cap Rate 7%
$832,071
Cap Rate 9%
$647,167
Alternative Uses
Best Use
Apartment 5plus
$832.1K
$728.1K – $970.8K
NOI $58,245 @ 7.0% cap · market cap 5.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$941.8K
$824.1K – $1.10M
NOI $65,928 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Newly constructed residence with private ensuite bedrooms and an attached two-car garage in a walkable historic downtown setting.
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: 3,350‑square‑foot residence constructed in 2026; Four private ensuite bedrooms; Attached two‑car garage
