About 304 Oak Street
Discover a prime duplex investment that is walking distance from downtown McKinney at 304 Oak Street in McKinney, TX. Offering a solid 6% NOI with both units renting below market value. The North unit secures $1,200 a month until December 31, 2024, while the South unit, updated in 2020, commands $1,500 a month until February 28, 2025. Upgrades include a new kitchen, new bathroom, repaint, windows, and flooring, enhancing appeal and value. Ideal for investors seeking steady income and growth potential in a vibrant location. Don't miss this turnkey asset in a sought-after area.
Features of 304 Oak Street
| MLS® # | 20570196 |
|---|---|
| Price | $399,000 |
| Units | 2 |
| Bedrooms | 4 |
| Full Baths | 2 |
| Building Area Total | 1,549 |
| Acres | 0.13 |
| Year Built | 1960 |
| Type | Residential Income |
| Sub-Type | Duplex |
| Status | Active |
Community Information
| Address | 304 Oak Street |
|---|---|
| Subdivision | Mckinney Outlots |
| City | McKinney |
| County | Collin |
| State | TX |
| Zip Code | 75069-3734 |
Amenities
| Utilities | Asphalt, City Sewer, City Water, Curbs, Individual Water Meter, Overhead Utilities |
|---|---|
| Parking Spaces | 2 |
| Garages | Covered |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Cable TV Available |
|---|---|
| Heating | Central, Electric |
| Fireplace | No |
Exterior
| Roof | Composition |
|---|---|
| Construction | Wood |
| Foundation | Pillar/Post/Pier |
School Information
| District | McKinney ISD |
|---|---|
| Elementary | Minshew |
| Middle | Dr Jack Cockrill |
| High | Mckinney Boyd |
Additional Information
| Net Operation Income | $24,900 |
|---|---|
| Gross Annual Income | $32,400 |
| Gross Annual Expenses | $5,300 |
| Insurance Expense | $3,200 |
| CapitalizationRate | 6.24 |
Unit 1 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,500 |
Unit 2 Details
| Type | 2 Bedroom |
|---|---|
| Full Baths | 1 |
| Rent | $1,200 |
Listing Details
| Agent | Ashton Kuehne |
|---|---|
| Office | The Joyce Realty Group |