Little Elm or McKinney to Invest (Dallas, Plano: days on market, for sale, rentals)

[TexasNewbie]

I live in Frisco and would like to buy investment properties close to where I live. I notice there are a lot of decent-sized houses in Little Elm and McKinnney under $150K that I can choose from as rental properties. I am aware of Little Elm's current traffic issue, but I think it has lower property tax than McKinney's.

Which location is better to invest in terms of job growth, school, safety, future appreciation, demand and supply, vacancy rate, etc?

Assume you are looking for rent-to-own, and you find similiar rental properties with similiar rental price range in both cities, which city would you prefer to rent to own? Any suggestions will be greatly appreciated.

[nsumner]

I would suggest that you look at Frisco itself. There are about 40 homes for sale right now below 150K. There are 118 homes on the market for lease in Mckinney and there are 49 in Little Elm.

Tax rate in Mckinney is 2.8, Little Elm 2.38 and Frisco 2.13

The DOM (Days On Market) is a lot shorter for the homes in Frisco too for rentals.

Naima

[bluescreen73]

IMHO Frisco and McKinney are overpriced. Little Elm still has a lot of room to grow and the housing is incredibly cheap. Little Elm's traffic problems will be taken care of within the next 3 years as FM423 and Eldorado Parkway will be widened and modernized, and the Lake Lewisville Toll Bridge will connect Little Elm directly to I-35E, putting Little Elm and its cheap housing right smack dab in the middle of a heavily traveled traffic corridor.

[little elmer]

Originally Posted by bluescreen73

... and the Lake Lewisville Toll Bridge will connect Little Elm directly to I-35E, putting Little Elm and its cheap housing right smack dab in the middle of a heavily traveled traffic corridor.

Good and bad, imo. If we're not careful, we'll be the next The Colony - and I don't mean that as a compliment.

[bluescreen73]

As long as they don't divide the road with a grassy median, restricting business access we'll be ok ;-). That's one of The Colony's biggest problems.

[little elmer]

Originally Posted by bluescreen73

As long as they don't divide the road with a grassy median, restricting business access we'll be ok ;-). That's one of The Colony's biggest problems.

You've got to figure that median space will be used when they widen FM423 (rant withheld). That would sound like a good thing for TC, but the opening of SH121 last weekend effectively shut the door on a lot of commuter's need to even stop at one of TC's traffic signals - much less venture into the city itself.

Back on topic, since I don't know much about McKinney's government, I'll speculate that LE has an advantage in planning potential because the population explosion basically left the EDC and Planning and Development departments in the dust - now they have opportunity to build with the tax base they have now.

[bluescreen73]

The Colony is gonna have a little help from the Super Target going in on the SE side of 423 and 121. Remember about 8 years ago when the Maharishi Fund wanted to build the world's tallest skyscraper on the southeast corner of Plano Parkway and 121 in The Colony?

[little elmer]

Yeah, that was right after we moved to LE - we were going to be part of history!!

[rosscountry]

Originally Posted by TexasNewbie

I live in Frisco and would like to buy investment properties close to where I live. I notice there are a lot of decent-sized houses in Little Elm and McKinnney under $150K that I can choose from as rental properties. I am aware of Little Elm's current traffic issue, but I think it has lower property tax than McKinney's.

Which location is better to invest in terms of job growth, school, safety, future appreciation, demand and supply, vacancy rate, etc?

Assume you are looking for rent-to-own, and you find similiar rental properties with similiar rental price range in both cities, which city would you prefer to rent to own? Any suggestions will be greatly appreciated.

Mckinney.

Mckinney is going to have the PGA and they are developing shops and commercial space for employers along 121/75

Mckinney will soon be a big shopping draw of the area( They will have the newest of new) as people look for new places to hang out and get tired of the stonebriar scene.

go to each city's economic development page to get an idea of their vision.
here is Mckinney's McKinney Economic Development Corporation - Welcome!
look at the bridge street town centre. Also Craig's Ranch Mall is soon to come.

Mckinney is getting a lot of great national exposure lately and that will just draw more people who want the FAR NORTH burbs lifestyle to that side of town.

As Allen and Fairview continue to make improvements with their new shopping areas and mixed use "mini urban" areas Mckinney will be there to help pull people east of Preston away from Frisco/ Little Elm.

Its like bees to honey people will flock to the new and shiney area.

If you can get something for 150K near a school and easy access to 75 or 121 that will be a winner.

The BIG IF is : IF Mckinney's executive airport(Collin County regional) opens up to having American airlines do regional flights look for this area to explode.

Good luck-- A safer investment is buying a fixer upper in Bluffview.

[loves2read]

where is BLUFFVIEW--part of Dallas itself?
have heard/read the name --- not sure of location