Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Market Trends & Data
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated 5 months ago on . Most recent reply

User Stats

352
Posts
373
Votes
Victor Steffen
  • Investor
  • Austin, TX
373
Votes |
352
Posts

What's the deal with Forney Texas?

Victor Steffen
  • Investor
  • Austin, TX
Posted

Hi BP, can anyone tell me a bit more about Forney TX? Something isn't quite adding up for me:

-New builds selling for under 300k

-4 bed 1800 sqft SFHs are leasing for ~$2500 / month with with less than 30 DOM

The dissonance comes from the rent:price ratios and asset quality. New or recent construction SFHs in the metroplex are typically selling at a .5% rent:price ratio. These Forney houses are trading closer to a .8%.. In our market that's really good! 

I can't figure out what the economic forces are in the community driving the high rents and relatively low purchase prices. We can sometimes find houses built in the 60s-80s with these ratios but never new construction and definitely not in safe locations. The purchase prices, lease rates, asset quality and neighborhood safety are not aligning. 

Hoping someone with more intimate knowledge of the neighborhoods can help shed light?

Most Popular Reply

User Stats

9,861
Posts
5,552
Votes
Eliott Elias
  • Investor
  • Austin, TX
5,552
Votes |
9,861
Posts
Eliott Elias
  • Investor
  • Austin, TX
Replied

The deal is there a lot less demand out there than Dallas or Austin or any major city in Texas. You may think it's cheap but the locals are probably horrified with prices. I would call some agents in the area and ask about that market 

Loading replies...