1012 Oak St · McKinney, TX 75069

$225,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 6 Days on market

Built 1957 0.25 ac lot $253/sqft · 19% below area Est $279k · 19% under

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Schools +5.0/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3 bedroom 1 bath home. Features freshly installed flooring throughout.

Key facts

• Outdoor space
• Oversized lot
• Spacious family room

Tags

• OVERSIZED LOT
• OUTDOOR SPACE
• SPACIOUS FAMILY ROOM
• NICELY APPOINTED KITCHEN
• FULL-SIZE UTILITY ROOM
• TRANSFERABLE WARRANTY

Property features AI

Finance

• Financial info: Listing terms include Cash, Conventional, FHA, VA
• HOA & community: No association

Exterior

• Parking: No garage; No covered or carport spaces
• Security: Smoke detector(s)
• Utilities: City water; City sewer; Municipal utility district: No
• Home design: Single family residence; Residential property; Entry on one level
• Construction: Built in 1957; Asphalt/shingle roof
• Exterior features: Chain link fencing; Corner lot; Few trees; Easement for natural gas

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Attic fan; Ceiling fan(s); Wall/window unit(s)
• Interior features: Cable TV available; Pantry; One living area; One dining area; Total rooms: 5; One level
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (17.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (18.7% below list).
• Recommended offer: $183k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 2.5% in McKinney — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 76/100 on livability (#115 in TX, #3,716 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living C-, amenities F, commute F.
• Mckinney ISD (suburban): math 54% / reading 58% proficiency, ranked #72 of 826 in TX (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Finch El (math 42% / reading 47%, grade F, #1,155 of 4,322 statewide, top 29%, 325 students, 86% FRL) — zoned schools average 86% FRL vs 28% district-wide (58 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.1%/yr); 292 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 19,194 units permitted in Collin County in 2024 (3,988 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Collin County population projected at +60% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $51k; list at $225k implies a 342% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $182,846 (18.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.29%
• DSCR: 0.81
• GRM: 10.3

CMA / ARV

• ARV (median comp): $278,968
• List price: $225,000
• Delta: -19.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1005 West St	0.11mi	2/1.0 (-1)	980 (+10%)	8mo	$189,990	$194	65
1205 N Bradley St	0.12mi	2/1.0 (-1)	760 (-14%)	3mo	$245,000	$322	63
407 W Erwin Ave	0.29mi	2/1.0 (-1)	958 (+8%)	8mo	$230,000	$240	62
1007 Coleman St	0.23mi	3/2.0	986 (+11%)	8mo	$374,000	$379	60
517 N Wood St	0.45mi	3/2.0	849 (-4%)	13mo	$348,000	$410	57
1505 West St	0.39mi	2/2.0 (-1)	826 (-7%)	8mo	$295,000	$357	55
1502 W Josephine St	0.17mi	2/1.0 (-1)	773 (-13%)	14mo	$295,000	$382	54
702 N Tennessee St	0.50mi	2/1.5 (-1)	822 (-7%)	5mo	$315,000	$383	53
802 Board St	0.31mi	2/2.0 (-1)	1,000 (+13%)	4mo	$397,500	$398	53
1105 W Virginia St	0.59mi	2/1.0 (-1)	813 (-8%)	12mo	$264,900	$326	43
1208 N Church St	0.52mi	2/1.0 (-1)	754 (-15%)	4mo	$289,900	$384	43
1103 1st Ave	0.52mi	3/2.0	1,003 (+13%)	11mo	$239,000	$238	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -27.2%
• Equity multiple: 0.11×
• Total profit: $-56,056
• Equity at exit: $33,548

10-year hold

• IRR: -42.4%
• Equity multiple: -0.39×
• Total profit: $-87,583
• Equity at exit: $19,454

Cash invested: $63,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75069

• Rents YoY: -2.1%
• Active inventory: 292
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,828 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$396 /mo · $4,751/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $-225

Break-even live

Break-even rent $2,113

Max offer price $185,236

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-161	+0% $-225	+5% $-289	+10% $-352
Rent	-10% $-370	-5% $-297	+0% $-225	+5% $-153	+10% $-81
Rate	-1.0pp $-112	-0.5pp $-168	base $-225	+0.5pp $-283	+1.0pp $-343

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1311 N Morris St McKinney, TX	2.0	1.0	850	$1,600	$1.88	44d	1	0.36mi
602 N Morris St Unit B McKinney, TX	2.0	1.0	900	$1,900	$2.11	25d	1	0.37mi
500 W Lamar St McKinney, TX	1.0–2.0	1.0	721	$1,500	$2.08	44d	2	0.42mi
304 Oak St McKinney, TX	2.0	1.0	775	$1,495	$1.93	44d	1	0.43mi
307 N Bradley St Unit A McKinney, TX	2.0	1.0	794	$1,795	$2.26	18d	1	0.43mi
1607 Coleman St McKinney, TX	3.0	2.0	1100	$1,981	$1.80	8d	1	0.57mi
1607 Coleman St McKinney, TX	3.0	2.0	1100	$1,915	$1.74	3d	1	0.57mi
1904 W White Ave McKinney, TX	1.0–3.0	1.0–2.0	925	$2,050	$2.22	3d	7	0.62mi
1600 Heritage Dr McKinney, TX	1.0–2.0	1.0–2.0	704	$1,592	$2.26	3d	20	0.63mi
1570 Heritage Dr McKinney, TX	1.0–2.0	1.0–2.0	915	$2,225	$2.43	2d	28	0.64mi
206 N Graves St McKinney, TX	2.0	1.0	896	$1,595	$1.78	25d	1	0.64mi
822 Woodleigh Dr McKinney, TX	3.0	1.0	878	$1,850	$2.11	44d	1	0.75mi
260 W Davis St McKinney, TX	2.0	1.0–2.0	827	$2,830	$3.42	3d	25	0.77mi
601 Drexel St McKinney, TX	1.0–2.0	1.0	694	$1,100	$1.59	45d	7	0.83mi
300 N McDonald St McKinney, TX	2.0	1.0–2.0	829	$2,295	$2.77	3d	25	0.83mi
603 Drexel St McKinney, TX	1.0–2.0	1.0	668	$1,200	$1.80	45d	7	0.84mi
123 Wilson Creek Blvd McKinney, TX	1.0–2.0	1.0–2.0	821	$1,482	$1.81	2d	10	0.91mi
709 Pride Ct McKinney, TX	3.0	2.0	1100	$1,838	$1.67	13d	1	0.99mi
804 Center St McKinney, TX	2.0	1.0	1000	$1,726	$1.73	25d	1	1.02mi
2301 W White Ave McKinney, TX	1.0–3.0	1.0–2.0	836	$1,705	$2.04	2d	13	1.07mi
1703 Rockhill Rd McKinney, TX	1.0–3.0	1.0–2.0	1068	$2,241	$2.10	2d	26	1.10mi
901 Wilson Creek Pkwy Unit 2121 McKinney, TX	2.0	2.0	1026	$1,351	$1.32	3d	1	1.18mi
901 Wilson Creek Pkwy Unit 958 McKinney, TX	2.0	2.0	1026	$1,384	$1.35	44d	1	1.18mi
600 S Graves St McKinney, TX	1.0–2.0	1.0–2.0	783	$1,616	$2.06	2d	13	1.23mi
2401 McKinney Ranch Pkwy McKinney, TX	1.0–3.0	1.0–2.0	1136	$2,382	$2.10	2d	25	1.23mi
1212 Community Ave McKinney, TX	1.0–3.0	1.0–2.0	949	$5,614	$5.92	2d	1	1.29mi
209 E Graham St McKinney, TX	2.0	1.0	950	$1,700	$1.79	25d	1	1.37mi
2521 Wolford St McKinney, TX	1.0–2.0	1.0–2.0	813	$1,517	$1.87	3d	5	1.40mi

Listing history 7 events

1. 2026-05-15
   listed $225,000 Active 1747-char remark
2. 2016-12-08
   soldstatus
3. 2016-12-06
   soldstatus Sold 80-char remark

   Show marketing remark (80 chars)

   Beautiful 3 bedroom 1 bath home. Features freshly installed flooring throughout.

4. 2016-11-21
   listed $139,900 80-char remark

   Show marketing remark (80 chars)

   Beautiful 3 bedroom 1 bath home. Features freshly installed flooring throughout.

5. 2016-11-21
   historical 80-char remark

   Show marketing remark (80 chars)

   Beautiful 3 bedroom 1 bath home. Features freshly installed flooring throughout.

6. 2000-08-08
   soldstatus
7. 1996-03-11
   soldstatus $50,872

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $4,751 · $396/mo
• Projected year-2 tax: $4,751 · $396/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,942
• − Mortgage interest: −$12,603
• − Property taxes: −$4,751
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,755
• − Management: −$1,755
• − Depreciation: −$6,545
• Taxable loss: −$6,594
• Est. tax savings @ 24.0%: +$1,583
• After-tax cash flow: $-1,119/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mckinney ISD
• NCES district ID: 4829850
• Math proficiency: 54% ▼ -9.00%
• Reading proficiency: 58% ▼ -2.00%
• Median HH income: $78,283
• Composite: 50.46/100
• National rank: #1862
• State rank: #72 of 826 in TX

Livability — McKinney

• Score: 76/100
• State rank: #115
• US rank: #3716

Category grades

Amenities F Commute F Cost of living C- Crime A+ Employment A+ Housing A+ Health & safety C+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: McKinney, TX
• County: Collin County · 1,159,394 people
• City population: 232,161
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 40,032
• Household income: $85,327
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 1898.0

Population outlook (Collin County) Hauer SSP2

• Today (2025): 1,210,074 people
• By 2030: 1,358,201 · +12.2%
• By 2040: 1,654,061 · +36.7%
• By 2050: 1,937,359 · +60.1%
• By 2075: 2,567,039 · +112.1%
• By 2100: 2,952,048 · +144.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 55% Hispanic / Latino 29% Two or more races 11% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Slovak 2% Lithuanian 2% Serbian 2%
• Foreign-born: 16% · Canada, China
• Languages at home: 72% English-only · Spanish 24% Other Indo-European 1% Chinese 1%

Political lean MEDSL · Collin

• 2024 margin: R (+11.1) · D 43.1% · R 54.3% · Other 2.6%
• 2008→2024 swing: +14.4pp toward D · 2008: -25.6pp · 2024: -11.1pp
• All cycles: 2024: R+11.1 2020: R+4.3 2016: R+17.0 2012: R+31.6 2008: R+25.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -158.98%
• Current HPI: 280.2534
• Rent YoY: ▼ -2.14%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+342.3% since first listed

8 events — show timeline

• 2026-05-21 Pending — NTREIS
• 2026-05-15 Listed $225,000 NTREIS
• 2016-12-08 Sold (Public Records) — Public Records
• 2016-12-06 Sold (MLS) — NTREIS
• 2016-11-21 Listing Removed — NTREIS
• 2016-11-21 Listed $139,900 NTREIS
• 2000-08-08 Sold (Public Records) — Public Records
• 1996-03-11 Sold (Public Records) $50,872 Public Records

Property tax history

+8.6%/yr

Latest (2025): $4,751 · +18.4% YoY. Source: county tax records.