Texas Investment on new build

4 Replies

I’m looking to purchase a new build in Little Elm, Tx. Off 380. Purchase price : $298,000 Down payment: $ 80,000 My mortgage will probably be around $2,000 a month Would I be able to rent this out for 2k? In this area. My dilemma is I feel this maybe a bad purchase, but then appreciation maybe good and end of year on taxes getting money back. This is what i have been told. Not sure if I’m being directed properly. Can anyone give me some insight on this. Also if anyone knows the future of this area. Will it be mine a Frisco or Plano? Tnx in advance

I've lived and worked as a broker in Frisco for 19 years and I know this area well. Have you looked at the rental comps? What size is the house you are purchasing?  Who is the builder and which school district is it in?  All of things things will greatly affect the rental amount.

@Sherry Cabrera .. I can rent the new build out for about $2k a month. The builder is American Legend. The house is 2,207 sq. Ft. The school district is Denton. They are building 2 more schools one is an elementary school a very short walk from the new build and a high school on the other side of Union Park.

Great builder!  There are a lot of things coming to this area.  The intersections of 423/380 and Preston/380 are both going to have massive commercial developments.  Here is just one example: https://www.dallasnews.com/business/real-estate/2018/06/25/hong-kong-firm-plans-huge-frisco-development-shopping-mall-office-towers-hotel-apartments