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$686,000

300 Covey Ln, McKinney, TX, 75071

Off MarketInfo
Beds4 Beds
Baths4 Bath
Baths2,510 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$198.8 / sqft
Year BuiltBuilt in 1990

Property Lead Type:

Off-Market ListAbsentee OwnerHigh EquityMove-In Ready

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDishwasher, Disposal, Electric Oven, Microwave
FlooringStone

Exterior

Lot Size36,033 sqft

Building Information

Year Built1990
Stories1
Roof Type105
Garage Spaces2

Land Information

APNR-2026-001-0160-1
Lot Number16
SubdivisionDove Creek
Land UseResidential
Legal DescriptionDOVE CREEK, BLK 1, LOT 16
Census Tract030201
Assessed Land Value$200,000
Assessed Improvement Value$446,873
Assessment Year2025

About this property

Charming 3 Bedroom Fixer Upper with Country Ambiance and City Convenience! Welcome to this 3 bedroom, 2 bathroom custom built home, offering a unique layout and endless potential. Situated on a spacious .827 acre lot in the ETJ of McKinney, this property combines a tranquil country feel with the convenience of city living, all within the sought after Melissa school district. This home features a distinctive design with the master bedroom separated from the secondary bedrooms, an open floor plan, cozy wood burning fireplace. Granite countertops in kitchen, stone flooring. A large utility room pantry. Covered back patio. Large extra room off the garage. The property is enveloped by mature trees and includes a variety of fruit trees. This home is being sold as-is, providing opportunity for a new family to make it their own or for investors seeking a project. Don't miss out on this exceptional chance to bring your vision to life in a serene yet convenient location!

Investor Tools

Property Icon
$686,000
Estimated Property Value
$125,000Estimated Mortgage Balance
$563,014Estimated Equity
82% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$4,116 /month
Positive
Cash Flow Estimate:
$1,372 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$514/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,743
$646,873
2025
$200,000
$446,873
$646,873
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,743
$646,873

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Sublime Financial Llc
Conventional
$125,000
No
First
Jun 6, 2025
Jul 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$122,986
$563,014
82%
18%
$750/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,700/mo
$750/mo
+$1,950/mo
4.7%

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.

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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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300 Covey Ln | Property Details | No Agent List