The 3 key investment rationale for The Kendall:

Yield – Operating this property as a single-family rental, strategic location and robust market fundamentals lead to net operating income yield of ~8% on all-in cost day one, further bolstered for equity invested due to accretive leverage. Nearby comps on the lakeside average over $100k of revenue per year (realized actuals) or ~$9k per month, with occupancy well above 65% across the comp set
Value Proposition – Targeting this property off-market, a competitive price at $432.5k was accepted. At closing, the property appraised 4% over purchase price, pre-capex improvements. Over the past three years, values in the immediate micro-location have realized ~12% annual growth, with 5%+ annual appreciation in the forecast. The property boasts incredible location being adjacent to Lake Hubbard, a destination lake in Northeast Dallas directly in the path of economic growth
Product – The property features modern finishes, a spacious floorplan, and a backyard equipped with plenty of green space and a pool. At just under 2,500 square feet of living space, our furnishings team at Showplace has transformed this into a lifestyle rental experience unachievable by apartment living. Given the asset value increase day 1, the ongoing product differentiation can only be accretive to value as we continue to facelift, modernize, and optimize operations with our property management team

Key Personnel

Awning is the property manager on the property. Awning is building the first real estate technology company and brokerage focused on investing. They provide property management services nationally across 100’s of properties. The team benefits from a proprietary data analytics platform that provides dynamic pricing on properties

Host is is the lender on the property. Host financial is a growing private lender offering competitive institutional quality loans.