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Old 06-09-2015, 07:37 AM
 
Location: Basking Ridge
2 posts, read 7,307 times
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Can someone share a breakdown of Zip codes based on the income levels per household in Plano? I am looking to buy an investment property to get the most out of my investment? Also, any ideas on the rental income on a Single Family Home with 3-4 bedrooms? Thanks in Advance.
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Old 06-09-2015, 07:55 AM
 
1,167 posts, read 1,815,958 times
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75093
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Old 06-09-2015, 08:35 AM
 
Location: Plano, TX
246 posts, read 416,178 times
Reputation: 184
75093 is the most desirable neighborhood in Plano.
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Old 06-09-2015, 08:36 AM
 
786 posts, read 1,221,918 times
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Quote:
Originally Posted by DeepakNJ View Post
Can someone share a breakdown of Zip codes based on the income levels per household in Plano? I am looking to buy an investment property to get the most out of my investment? Also, any ideas on the rental income on a Single Family Home with 3-4 bedrooms? Thanks in Advance.
75093 (West Plano) has the highest household income. 75024 (NW Plano) & 75025 (Far N. Central Plano) are also "affluent" areas.

75023 (N Central) & 75075 (Central/South Central) are pretty close

75074 is the lowest income zip code in Plano (East Plano)
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Old 06-09-2015, 09:56 AM
 
84 posts, read 94,606 times
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Imho as nice as 75093 and similar affluent areas are for living, raising a family, resale and renting demand, you don't get a high return on investment if you want to be a long term land lord in any affluent Texas suburb.

Homes are expensive so initial investment is high, property taxes are high and no homestead exemption for a rental property, property insurance on rentals is high, utilities and maintainance are high. Rents aren't high enough to cover all that and still provide a good income.

If I had to buy a rental in CoCo then I'd pick one in least affluent zip code of a great school district like Plano.
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Old 06-09-2015, 10:02 AM
 
Location: DFW
40,952 posts, read 49,155,879 times
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Good luck buying an Investment home at any kind of decent price. You'll be bidding against 5-15 other buyers also who want the same home.
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Old 06-09-2015, 10:36 AM
 
Location: Dallas, TX
2,346 posts, read 6,924,109 times
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Quote:
Originally Posted by DFWDove View Post

If I had to buy a rental in CoCo then I'd pick one in least affluent zip code of a great school district like Plano.
This.

There will be far greater rental demand at the low end. If you buy some $800K house to rent out, you could have it sit vacant for months, due to the limited pool of interested parties. If you instead buy 4x $200K houses, you will be able to fill them with much less difficulty.
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Old 06-09-2015, 05:35 PM
 
Location: Plano, TX
246 posts, read 416,178 times
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Quote:
Originally Posted by Rakin View Post
Good luck buying an Investment home at any kind of decent price. You'll be bidding against 5-15 other buyers also who want the same home.
Agree. @ Rakin do you recommend any good area for investment homes in the currentl market?
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Old 06-09-2015, 06:43 PM
 
Location: DFW
40,952 posts, read 49,155,879 times
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Quote:
Originally Posted by jacobr View Post
Agree. @ Rakin do you recommend any good area for investment homes in the currentl market?
Man, that's an almost impossible question to answer. Home prices are up 30-40% in 2-3 years and any decent home is getting 4-15 offers in just days.

Not many deals out there.
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Old 06-09-2015, 08:08 PM
 
162 posts, read 194,935 times
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Quote:
Originally Posted by jacobr View Post
Agree. @ Rakin do you recommend any good area for investment homes in the currentl market?
it is not a simple answer, there are many areas around Dallas that provides great investment opportunities. Should you invest into a single property all paid, or leverage financing and but control multiple properties. Should you buy a ready to rent home or a fixer upper? I have noticed that properties with no upgrades since the 1990s in Plano doesn't sell as quick as the ones well kept and upgraded. Though past doesn't predict the future, market still believes home prices in Plano/Frisco will continue show positive upward movement. Higher prices brings in higher rents which translates into better return.
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