506 N Chestnut Street Located in the crown jewel of McKinney's Historic District, this rare and versatile property offers a beautifully updated 4-bedroom, 2-bath main home PLUS a fully furnished 703 sq ft guest house just a 4-minute walk from Downtown McKinney. Whether you're searching for multigenerational living, detached private living quarters, a guest retreat, home office or studio space, or an income-producing opportunity, this property delivers a level of flexibility rarely found in the historic district. The guest house includes its own kitchen and full bath and has already rented on Airbnb for up to $150 per night. Inside the main home, original hardwood floors, abundant natural light, and an open-concept layout create the ideal blend of warmth and functionality. The kitchen serves as the centerpiece of the home with quartz countertops, a classic subway tile backsplash, a striking blue island, stainless steel appliances, and generous storage designed for both entertaining and everyday living. Both bathrooms have been thoughtfully updated with modern finishes, and each bedroom includes its own walk-in closet for exceptional storage and flexibility. Beyond its versatility and walkable lifestyle, the home also offers extensive turnkey system upgrades for long-term peace of mind, including cast iron plumbing replaced to the city, a new electrical panel, tankless water heaters, added insulation, updated windows, and a 2024 HVAC system. Outdoors, enjoy a rare oversized backyard with private patio space ideal for entertaining, gardening, or relaxing without the maintenance demands often associated with larger properties. Just steps from Downtown McKinney's boutiques, dining, parks, and year-round events, this is a rare opportunity to own a highly functional, income-capable property in one of McKinney's most desirable historic locations.