Quote from @Cheng Chu:
how about prosper, Celina, and McKinney. Has prices run up too much already?
It seems like the general trend of population growth is northern Dallas.
Prosper will be almost impossible to find a good rental. Probably minimum price point really is about $1mil for Prosper with Prosper schools. Rent probably $5000/month or less. Nice city. Nice city to live in, although virtually no businesses right now. It will come, but you will likely have to drive for shopping, eating, activities. Every so often one of the older homes in the old city center will come up, and those are always worth a look, but it is pretty rare.
Celina also very nice place to live, but probably tougher for investors. Most neighborhoods are newer with severe restrictions on rentals....same with Melissa and many places in Forney and Princeton, so you have to be super careful with that. If they don't have them already, sometimes there are movements within HOA to implement them. There can be exceptions, especially if you buy older homes or in non-HOA neighborhoods. Just not many of those.
McKinney in my opinion just has too many rentals. Today there are 500+ homes for rent in McKinney. That's too many, especially now that school has started. That's probably 4 months of inventory. That does not include lots of apartments. Nice city to live in. Preferred areas have Princeton or Frisco schools, but then those homes are typically bigger, and more expensive and ROI normally super low.
If you are looking at these cities, I would look further north. Weston, Gunter, Denison, Howe, Van Alstyne, but especially Sherman. Probably less risk in Sherman, more demand drivers. None of the other cities have any demand drivers for the most part.
