Spacious 3 Bedroom
Condominium
Dallas, TX
Investment Overview
Background
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Well-‐located, mul<family asset with strong cash flow
– ACrac<ve, 1980s construc<on
– Spacious 3 bedroom, 2 full bath layout
– Located close to major employment centers (Richland College and Texas Instruments) and major highways for easy access to en<re DFW metroplex
– Located within the highly respected Richardson Independent School District
– Cash flow upside with strategic rent increases
– New flooring and painted interior
Ra<onale
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Asset Type: Condominium
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Loca<on: Dallas, Texas
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Units: 1
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Size: 1,237 SF
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Year Built: 1980
Dallas Na<onal Recogni<on
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Dallas area leads na5on in popula5on growth, The Business Journals May, 2012
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Dallas ranks #2 in the Country for America’s Fastest Growing Ci5es, Forbes.com,
April, 2012
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The Dallas economy surged 6.2% last year—second best in the na5on—to $254
billion, Forbes.com June, 2012
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Dallas-‐Fort Worth area exis5ng single-‐family homes has risen 7.6 percent year-‐over
“Dallas-‐Fort Worth area, U.S. home prices rise”
Source: The Business Journals, August, 2012
The price of Dallas-‐Fort Worth area exis5ng single-‐ family homes has risen 7.6 percent YOY by the second quarter of 2012, according to the Na5onal
Associa5on of Realtors.
The increase in homes prices is a]ributable to a lack of inventory in the housing market, especially homes in lower price ranges, according the industry
group's second quarter report. And it wasn’t just Dallas-‐Fort Worth, the median exis5ng single-‐family
home prices rose in 110 out of the 147 metro areas throughout the United States.
This is a stark contrast to the same 5me last year when there were only 41 metro areas showing gains in home prices, according to the report. By having the majority of metro areas showing gains, this is posi5ve sign of improving the equity posi5on
of homeowners, said Lawrence Yun, the chief economist at the Na5onal Associa5on of Realtors.
The na5onal median price for an exis5ng single-‐ family home is $181,500, according to the report.
In Dallas-‐Fort Worth, the median home price was $163,000 for the second quarter.
“Dallas area leads na<on in popula<on growth, adding one person every 4 minutes”
Source: The Business Journals, May 2012
The Dallas-‐Fort Worth metropolitan area adds another person every four minutes and 10 seconds, making it the fastest-‐growing metropolitan area in America. Dallas-‐Fort Worth gained 126,037 residents between July 1, 2010, and the same date last year, according to newly released popula5on es5mates from the U.S. Census Bureau. On Numbers used those es5mates to generate daily growth rates for the na5on's 366 metros. Dallas-‐Fort Worth leads the na5on with an increase of 345.3 persons per day, or one person every four minutes and 10 seconds. Houston ranks second with a daily popula5on gain of 301.6 persons. Rounding out the top five are Los Angeles (up 275.2 persons per day), New York City (up 263.7) and Washington (up 259.7). Dallas and Houston have been economic powerhouses in recent years. Both ci5es led the na5on in 2011 in private-‐sector job growth. Dallas, in par5cular, has seen a rebound in jobs in the financial services industry. Fiheen metropolitan areas added at least 100 persons per day between mid-‐2010 and mid-‐2011. Nearly 82 percent of all metros -‐-‐ 299 of 366 -‐-‐ registered popula5on increases of any size. The Cleveland area was the
biggest loser, suffering a daily decline of 19.9 persons. Next were two Michigan markets: Detroit (down 13.4 persons per day) and Flint (down 8.3 persons). The following database contains the Census Bureau's latest popula5on es5mates for all 366 metro areas, along with daily growth rates calculated by On Numbers. Use the tab to isolate a single state, or simply hit the Search bu]on to see everything at once. On Numbers also issues its own up-‐to-‐date popula5on es5mates several 5mes a year. The most recent figures for states and
Condo Complex Great access to major highway
Neighborhood Park and Pool Townhome
Condo
1 Year Home Warranty
*Each property purchased will come with a one year warranty on major appliances
and maintenance items. US Mul5family Wholesalers, LLC will purchase this policy for
Cash Flows
Type Unit SF Rent Rent/SF Monthly Taxes Monthly Prop Mgmt Fee Monthly HOA Monthly Net Cash Flow Annual Net Cash Flow COC Investor Return Sales Price 3bed/ 2bath Condo 1,237 $950 $0.77 $92 $66.50 $300 $491.50 $5,898 10.3% $57,000
Trusted Property
Management Team
16
Property
Management
Company
Pioneer
1 Realty
Pioneer 1 Realty is a team of real estate and property management professionals that specialize in full service management of single-‐family as well as mul5-‐family proper5es in the Dallas – FT Worth Metroplex.
Pioneer 1 Realty was founded in 2003 by Chato Cas5llo aher a successful career with Cendant’s real estate division. Throughout the years our company has grown to a team of professionals focused on REO real estate transac5ons, property management and maintenance.
Our team’s mission is to provide you, our customer, with 5mely communica5on,
professional and accurate repor5ng, and outstanding customer service where we provide superior results and exceed your expecta5ons.
**US Mul5family Wholesalers, LLC has pre-‐nego5ated a property management fee for our investors at 7%, which is well below the industry average of 10%.**
