North Dallas area - Celina/Anna/Aubrey
I live in Prosper and there is a lot of new construction/newer homes north of 380. However, I generally will spend $275-310k ($140/sqft) and it looks like be able to rent out at about $1/sqft. Is this a bad decision to go in this direction?
I have the cash to do these and assume appreciation could be fantastic but looking for validation as this doesn't reach the 1% rule at all
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#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
1% rule is tough in these areas, unless you find the rare/odd older house built 40-50-60 years ago. Some of those probably work, but they seem few and far between. New homes don't always work well, but maybe the sweet spot in those areas are the home about 10 years old now. Still not cheap, but the 3/2s as cheap as you can get them probably can work over the long term. That's probably more Anna/Aburey than Celina....saw a nice duplex in Gunter not long ago. Occasionally good buys in some of the other cities like Pilot Point. Not sure how long it will take town to grow to Whitesboro, but there are some nice price points there too if you're willing to go that far north.