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Days64Days on Market
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$499,000

$529,000

205 Covey Ln, McKinney, TX, 75071

$648,700 ARVInfo
On MarketInfo
Price DropInfo
Beds3 Beds
Baths2 Bath
Baths2,188 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$228.06 / sqft
Year BuiltBuilt in 1987

Property Lead Type:

ARV FlipAbsentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Oven, Electric Range, Microwave, Refrigerator
FlooringCarpet, Ceramic Tile, Tile, Wood

Exterior

Exterior FeaturesRain Gutters, Storage
Lot Size42,841 sqft

Building Information

Year Built1987
Stories1
Roof Type105
Garage Spaces2

Land Information

APNR-2026-002-0150-1
Lot Number15
SubdivisionDove Creek
Land UseResidential
Legal DescriptionDOVE CREEK, BLK 2, LOT 15
Census Tract030201
Assessed Land Value$210,000
Assessed Improvement Value$336,678
Assessment Year2025

About this property

The trees come first. They always do at 205 Covey Lane — towering, decades-old, and so generous with their shade that the entire property feels like a private park. You notice them before you notice the house, and that is exactly as it should be. This is a home that begins outside and draws you in slowly, the way all the best things do. Situated on nearly a full acre in McKinney's coveted Dove Creek neighborhood, this three-bedroom, two-bath home offers something that no amount of renovation can create from scratch: a setting that took forty years to become what it is. Natural streams run nearby. Mature landscaping frames every view. The canopy overhead filters the Texas sun into something softer, something that makes the whole property feel like a exhale. Inside, a pellet stove nestled in the stone fireplace anchors the living room with warmth that is both practical and deeply comforting — the kind that radiates through a room on a cool evening and makes you forget there is anywhere else you need to be. The wood tones throughout speak to a home that was built with intention and lived in with care. The enclosed sunroom — fitted with glass on every side and its own HVAC — extends the living space into the landscape itself, giving you a front-row seat to the backyard canopy in every season. The home is ready for a buyer who brings vision. The bones are honest, the lot is extraordinary, and the character is already here — waiting. In a market where land like this has all but disappeared, and where neighborhoods that feel like neighborhoods are fewer every year, 205 Covey Lane is a rare and genuine opportunity. Come see it. Bring your imagination. Leave with something you did not expect: the feeling that you are already home.

Investor Tools

$0Estimated Mortgage Balance
$546,678Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)*
$648,700
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,280 /month
Positive
Cash Flow Estimate:
$1,093 /month

Interested in this property?

Dana Worth

Russell Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$274/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$557
$546,678
2025
$210,000
$336,678
$546,678
No

Tax History

Year
Tax Paid
Assessed Value
2024
$557
$546,678

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$546,678
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,520/mo
N/A
+$3,520/mo
7.7%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: McKinney

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205 Covey Ln | Property Details | No Agent List