Looking for my first rental property in Dallas

Dallas, Texas
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Looking for my first rental property in Dallas

Liz Kim
Member since 2025 · 1 post · 0 votes

I'm looking for my first investment property in the Dallas area. I'd like a long term rental that I could self manage and my budget is 400k. I'm looking for a neighborhood with appreciation potential and I am ok with breaking even or slightly positive cash flow. I live in the northern suburbs (Coppell) so I'd ideally like something within 30 minutes so that I could manage it. Any suggestions where to look or advice as I start out? Thanks!

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  • Harrison Sharp
    Real Estate Broker · DFW · Member since 2015 · 350 posts · 271 votes
    1y

    Hi Liz - Some great submarkets right now for what you are trying to achieve are Garland, East Dallas, parts of Mesquite. Long term is really hard to break even right now but there is one creative strategy that i like on the long term side especially if you aren't wanting to go the Duplex route - Buying a property with a guest house or ADU and leasing out the units Individually. I've got a few properties i own that i do this on and the rental premiums are great.

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  • William ThompsonPro Member
    Accountant · Williamstown, NJ · Member since 2025 · 343 posts · 182 votes
    1y
    Quote from @Liz Kim:

    I'm looking for my first investment property in the Dallas area. I'd like a long term rental that I could self manage and my budget is 400k. I'm looking for a neighborhood with appreciation potential and I am ok with breaking even or slightly positive cash flow. I live in the northern suburbs (Coppell) so I'd ideally like something within 30 minutes so that I could manage it. Any suggestions where to look or advice as I start out? Thanks!


    Great market to be starting in—Dallas has a lot of strong submarkets. Since you’re okay with break-even or light cash flow, appreciation potential becomes the key driver. Areas just outside the hotter cores—like parts of Carrollton, Lewisville, or even pockets near Irving—tend to balance accessibility with growth. As you narrow down, make sure you’re also running the tax numbers—property taxes in TX can swing your monthly budget more than you’d expect.
    [email protected]609-820-0891
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  • Neil Jenkins
    Real Estate Coach · Sacramento, CA · Member since 2020 · 37 posts · 7 votes
    1y

    I just bought one near Dallas and my team specializes in helping investors. I've got some ideas of what's on the market and would work great for your situation - feel free to reach out if you'd like more info 

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  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    1y
    Quote from @Liz Kim:

    I'm looking for my first investment property in the Dallas area. I'd like a long term rental that I could self manage and my budget is 400k. I'm looking for a neighborhood with appreciation potential and I am ok with breaking even or slightly positive cash flow. I live in the northern suburbs (Coppell) so I'd ideally like something within 30 minutes so that I could manage it. Any suggestions where to look or advice as I start out? Thanks!

    You might very well know this but for a single family investment home the min down payment is 15%, with the terms improving if you put down 25%.  
    Hurst Real Estate, INC4.986 Reviews
    WebsiteView Page
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