Updated Dec 21, 2023
Raheem Amer Acquires SFR In McKinney, TX For $1.35M
8620 Palermo Way, McKinney, Texas 75071, United States
$1,350,000
$207/SF
Building Size
6,500 SF
Asset Type
Single Family Residence
Closing
Jun 15, 2022
About this deal
AI
A record-breaking resale at the Estates of Verona in McKinney, Texas, has recently taken place. The property, located at 8620 Palermo Way, is a single-family home with a spacious living area spanning 6,500 square feet. The transaction was facilitated by Jessica Nelson of Coldwell Banker Global Luxury.
Summary of transaction details
- Property Type: Single-Family Residence
- Transaction Amount: $1,350,000
- Market: McKinney
- Buyer: Raheem Amer
- Seller: Maryyam Riaz & Muhammad Akhan
- Broker: Jessica Nelson - Coldwell Banker Global Luxury
- Date: June 16, 2022
This sale marks a significant milestone for the Estates of Verona, demonstrating the desirability and value of properties within this exclusive community. The transaction was successfully negotiated by Jessica Nelson, showcasing her expertise in the luxury real estate market.
Players
McKinney Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $207 per square foot on a published $1.4M for 6,500 square feet (2022).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
11.75%
Cash-on-Cash
-3.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93