Investors · 2026 edition
The DFW Investor's Guide to Running the Numbers
A property is only a good investment if the numbers work. Here's how I help investors analyze a DFW deal before they buy, including the Texas-specific costs that catch people off guard.
By Tee Adewunmi, REALTOR®3 min read · Updated September 202601The numbers that matter
| Metric | What it tells you | How to figure it |
|---|---|---|
| Cash flow | Money left each month | Rent minus all expenses and mortgage payment |
| Cap rate | Return before financing | Net operating income ÷ price |
| Cash-on-cash return | Return on the cash you put in | Annual cash flow ÷ total cash invested |
| DSCR | Whether rent covers the loan | Net operating income ÷ annual debt payments |
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02Texas costs investors forget
- Property taxes are often around 2% to 2.5% of value, and investment properties don't get the homestead exemption.
- MUD and PID taxes in some newer communities.
- Insurance, including wind and hail deductibles.
- HOA rules: many master-planned communities limit or ban short-term rentals.
- Vacancy, repairs and capital expenses like roofs and HVAC.
- Property management if you won't self-manage.
03Example worksheet
Illustrative numbers only, not a projection for any property. Every deal is different.
| Monthly line item | Example |
|---|---|
| Rent | $2,600 |
| Property taxes | –$600 |
| Insurance | –$150 |
| HOA | –$60 |
| Vacancy and repairs reserve | –$260 |
| Property management | –$210 |
| Net operating income | $1,320 |
| Mortgage principal and interest | varies by rate and down payment |
| Cash flow | NOI minus mortgage |
04Pick your strategy
- Long-term rental: steady demand from relocation and job growth.
- Short-term rental: check city rules and HOA restrictions first.
- Flip: know your after-repair value and contractor costs.
- Land hold: buying ahead of growth in areas like Celina.
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