Residential income property for sale in McKinney TX is not easy to find and surprisingly difficult to sell. Demographics provided by neighborhoodscout.com give insight as to why income property sales can be challenging.
Many residential income property owners in McKinney TX were hurt by the recession and the ensuing housing crises of 2008. Many income properties are still underwater, meaning that the income property mortgage is greater than the market value of the property.
McKinney TX Demographics
To better understand why income property is challenging in McKinney, consider these demographics.
- 72% of the town population works in management
- 49% of McKinney TX residents have jobs in sales
- 37% of the population is in office administrative jobs
- 89% of the population works at home
- 25% of town residents have white collar jobs
- The population in McKinney TX is approximately 156,767
With a professionally dominated workforce, most residents do not want the hassles of being a landlord or paying tax on income property in McKinney TX.
Due to an excellent school system, McKinney is an in-demand community for professionals to raise families in single family homes. The area is dominated by newer single family residences.
- In 2010, median per capita income in McKinney TX was $32,849.
- 23% of McKinney residents have a Bachelor’s Degree or an advanced degree.
Most townspeople have no interest in being a landlord, managing tenants or have the need for income from rental property in McKinney TX in order to succeed.
Problems With Income Property For Sale in McKinney TX
Landlords and income property owners cite tax on income property and disappointing income from rental property in McKinney TX as two big reasons for soft selling prices. In a community where new, residential housing dominates the real estate marketplace, income property for sale in McKinney typically underperforms.
Another factor is decreased demand for apartment housing. Many McKinney homeowners purchased property before the housing crisis and cannot get out from under the property because today’s selling prices are still lower than the original purchase price. Inevitably, when homeowners relocate, they are prone to rent their homes rather than take a loss by selling below the purchase price.
The surplus of homes for rent has hindered the income property for sale marketplace in McKinney. While the average time to sell a home in McKinney is about 75 days, the average time to sell residential income property is much greater, especially if the property has a history of bed renters.
If you are experiencing problems with income property for sale in McKinney TX, there is an alternative to listing your property with real estate agents or trying to sell by owner. How about a direct sale to a responsible buyer who pays cash and closes fast?
SJT Rentals Pays Cash For Income Properties in McKinney
Many residential income property owners in McKinney TX have contacted SJT Rentals at 470-236-2870 to inquire about as is sales for cash. Visit our cash for your house offer today page to understand the complete and unique purchase proposition that includes:
- Cash at closing
- A reasonable offer for your income property in McKinney TX within 24 hours
- A fluid closing without inspection contingencies
- A no mortgage, no appraisal transaction
With SellYourHomeFastOnline.com, leave the problems of bad renters in McKinney and high tax on property income behind. SJT Rentals is an experienced rental property investor and can navigate the eviction of bad tenants without risk to the seller.
When you learn the advantages at www.sellyourhomefastonline.com, you will quickly realize that your income property for sale problems in McKinney TX can be solved quickly. Call 470-236-2870 to learn more.