3022 Pinyon Place
About This Property
Outside, the expansive corner-lot backyard provides plenty of grassy space for a trampoline, playscape, garden, pets, or your own HGTV-inspired outdoor retreat. Updates include a new roof in 2020, irrigation system in 2021, new HVAC system inside and out with a Reme Halo Air Purifier and UV light in 2022, stainless steel appliances in 2022, and fresh interior and exterior paint in 2024. Solar screens add another thoughtful feature.
Zoned to Melissa High School, home to its impressive $35 million stadium, this location puts you in the heart of a growing North Texas community where Friday Night Lights are part of the local experience. Enjoy quick access to Hwy 75, shopping, dining, and entertainment, including Buc-ee's, Ford Sports Village at The Z-Plex, and the upcoming $300 million Sunset Amphitheater in nearby McKinney. Expanding U.S. 75 and Outer Loop connections provide convenient access to surrounding North Texas communities.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 2, 2026 | Price Decreased |
$325,000
↓ $20K
(5.8%) | |
| Price Decreased | |||
| Oct 20, 2026 | Price Decreased |
$345,000
↓ $15K
(4.2%) | |
| Price Decreased | |||
| Oct 5, 2026 | Price Decreased |
$360,000
↓ $15K
(4%) | |
| Price Decreased | |||
| Sep 25, 2026 | Listed by Redfin Corporation | $375,000 | |
| Listed by Redfin Corporation | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017