McCallum Communities – Dallas, TX

419-Unit Apartment Community – 506(c) Offering

Why You Should Consider This Project

  • High Quality Location & Excellent Submarket Fundamentals
  • Average Submarket Rent Growth (2022): 12.7%
  • 5-Year Population and Household Growth: 20+%
  • No New Supply Under Construction within 3.0 Miles
  • Strong Renter Demand (Average Submkt Vacancy: 4.5% – Q3 2022)
  • Clear Rent Growth Upside & NOI Growth Achievable through Value-Add Renovations and Mark-to-Market Leasing
  • Low-Leverage Transaction (52% LTC)
  • Average Debt Service Coverage Ratio of 2.37x during the Hold Period
  • Assumption of Attractive In-Place Freddie Mac Loan
  • 2.9% Fixed Interest Rate with 12 months of interest only period remaining
  • Attractive Purchase Price Basis of $124,105/unit
  • Similar Vintage and Location Sales Comparable Range between $146k-166k/unit
  • Conservative Exit Cap Rate Assumption of 5.50%

Product type:  

Multi-Family

Strategy:  

Value Add

Offering size:  

$8,000,000

Hold Time:  

 5 Years

Exit Strategy:  

Planned outright sale of property

IRR*:  

23.9%

Preferred Return*:  

8%

Minimum Investment: 

$100k

Funds Due: 

9/15/2022

* The preferred return / IRR is not guaranteed as it relies on the performance of the asset

Project Webinar

Property Location

Location: 7740-7770 McCallum Boulevard, Dallas, Texas Submarket: Far North Dallas
Units: 419
Unit Mix: (1) Studio, (390) 1-Bedroom Units and (28) 2-Bedroom Units Ave Unit SF: 595 SF
Total Rentable SF: ± 249,475 SF
Current Occupancy: ± 91%
# of Buildings: 14 (mix of 3 and 4 story structures)

Major Building Systems: 100% of the Roofs were replaced in the last 4-5 Years, MEP, windows and other major building systems are functional and do not require immediate replacement or substantial repair.

Value-Add Opportunity:

  • Comprehensive Interior Renovation Program, 90%+ of the existing units are in Classic Condition
  • Exterior Cosmetic Improvements to enhance curb appeal and leasing
  • Amenity Enhancement and Upgrades (Pool Areas, Social Court, and Fitness Center)
  • Opportunity to Add Other Income Sources (Washer/Dryer 100% Hook-Up in Units and Parcel Lockers)

Submarket and Neighborhood Fundamentals

Submarket: Far North Dallas [3rd Highest Rent Growth Submarket] 1-Mile Median HH Income: $48,782
3-Mile Median HH Income: $77,630
3-Mile Employment: 64,856
5-Yr Projected Population Growth: 21.90%

Neighborhood Profile:
% of Neighborhood as Renters: 98.7%
% of Neighborhood Single Person HH: 72.7%
Median Home Value: $531,115

Submarket & Neighborhood Attributes that Support the Business Plan:

  1. Strong Projected Population Growth (US Average Annual Pop Growth is less than 1%)
  2. Median Household Incomes that Support Rent Growth
  3. High % of Renters and Single Person Households
  4. Strong Access to Jobs and Employment Opportunities (1 mile from George Bush Turnpike)
  5. Strong Affordability Gap between Home Prices (Mortgage/Ownership Costs) and the Rentable Market
  6. Close Access to High Quality New Retail & Shopping Corridors Along W Campbell Road (South) and in Plano (North)
Dana Cornell - Cornell Capital Holdings

FOUNDER & CEO

Dana Cornell

Dana Cornell is a Certified Investment Management Analyst and Certified Financial Planner, who’s passion is to take the uncertainty out of investing and provide consistent returns his clients can count on.

Dana has over 20 years of experience in the financial industry, and Cornell Capital was born out of a need recognized to truly create consistent, predictable income and wealth creation.



  • Forbes Recognized 2021 Best in State Financial Advisor
  • Former Executive Director at Morgan Stanley
  • 3x Named Forbes America’s Top Next-Gen Wealth Advisors
  • Licenses Held:
    • Series 7
    • Series 63

Forward Looking Information: This page may contain forward-looking information relating to our business strategy and measures to implement strategy and other matters. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements.  We cannot guarantee future results, level of activity, performance or achievements and there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements except as required by applicable legislation.

Financial Estimates: This page may contain certain financial projections. We cannot guarantee future results, level of activity, performance or achievements. Consequently, we make no representation that the actual results achieved will be the same in whole or in part as those set out in the financial projections. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any financial projections to reflect any change in our expectations or any change in events, conditions, assumptions or circumstances on which any such financial projections are based.