The real estate investment platform Summoned launched an offer for a portfolio of four single-family rental properties in suburban Charlotte, North Carolina, with a minimum investment of $1,000. The new construction homes are located in the Mill Stone community in Conover, NC.
The four properties are acquired by the sponsor of the operation, Golden Eagle Real Estate, for $1.1 million at an average price per square foot of $137. Each home measures approximately 3,000 square feet and includes four bedrooms, 2 ½ bathrooms, and a two-car garage.
Investment Highlights: Properties are being acquired at an attractive price, with data from Redfin showing an average selling price per square foot of $175 in Conover and an extremely limited supply of single-family rentals. Zillow predicts that home prices in this market will rise 24% over the next twelve months.
- Minimum investment: $1,000
- Target annualized return: 20.7%
- Preferred return: 8%
- Multiple of target equity: 3.2x
- Target investment period: 7 years
- Unaccredited Investors Allowed: Yes
See offer details on Benzinga Alternative Investments.
Sponsor of the transaction: The investment is offered by Delta Housing 30X LLC, a subsidiary of Golden Eagle Real Estate. Golden Eagle Real Estate has $40 million in assets under management and specializes in the acquisition, repositioning and management of select single-family homes in expanding markets across the United States.
Photo: Courtesy of Invown