Eagleton Affordable Portfolio

Property Description

In place renewal increases of $50 will add $50,000 of rental income this year Recently established new leases are $190 and $161 higher than in-place rents proving ability to add over $300,000 in additional incomeWell located on desirable SW side of Carrollton close to $1M homes and retail including Walmart, Home Depot, Chick-fil-a, etc. Properties are close in proximity offering shared expenses. Property 1 – Hays Mill CourtBuilt in 2003 with Institutional Aesthetics62 one- and two-bedroom units and 1 office 49 units are restricted to 60% AMI rent and income Limits. 13 Units are market rate.Estimated Restriction Expiration 2034/2035Property 2 - Eagle’s Nest Built in Two Phases – Phase I: 38 units built in 1996 ; Phase II: 50 units built in 199987 One- and two-bedroom units and 1 office unitPhase I - All units restricted to 46% AMI Rent and Income LimitsPhase II - 29 units @ 60% AMI and 21 units @ 50% AMI. Also age restricted to 62+Estimated LURC expiration: Phase I 2026; Phase II 2030