All Forum Posts by: Matthew McCracken

Updated M street 4/2 two story house (formally a duplex converted to single family) plus a 1/1 mother-in-law apartment making for an ideal, high income rental property.  The house's interior is completely updated with marble counter tops, stainless steel appliances, hard wood flooring throughout, gas fireplace and second story deck (Mother-in-law is updated as well).  The property is located across the street from Mockingbird Station so it is convenient to downtown, the light rail and the M streets as well as adjacent to Glencoe Park.  The house is ready to be rented immediately (in fact, I just turned down 2 renters once I decided to sell it.)

House has a circular driveway providing ample off-street parking for tenants.  The front of the house is landscaped with low maintenance ground cover.  The sprinkler system had to be torn up this past year but the system was reinstalled and is working, however, quite a bit of the ground cover was destroyed but will grow back next April.  

The house has even more potential as a rental than I have taken advantage of.  The upstairs kitchen was taken out before I purchased the house but all the plumbing still exists which would make for an easy addition of a 3rd bathroom in the mainhouse (the purple colored room with the desks is the old upstairs kitchen).  We have had a couple contractors look at the potential project and have said it would be easily accomplished.  This would allow the landlord to turn the upstairs dining/living area into a large bedroom suite.  If this was completed, rent for the property would easily top $4500/month.  

The house has quite a bit of potential as a rental. One possibility would be to rent out individual rooms to SMU students or post grads which would reduce the risk of the property not generating income for any period of time.  This is the approach I always took and I had very good luck with grad students and those just entering the workforce.  

I bought the property in 1997 and I lived in the upstairs while renting out the downstairs and mother-in-law. A couple of years ago, I moved out and rented the entire property. I've decided to move out of Dallas and won't be able to manage the property. If you're interested in a uniquely profitable property, ping me. If you are realtor or management company, please do not solicit me, I have a realtor if it comes to listing it on MLS and I want the proceeds to reinvest in a property outside of the area.

Thx for your interest,

Tom