Investment Highlights
Generationally Owned Asset: Current Ownership has owned the deal for 20+ years. New ownership will have the opportunity to acquire an asset with high occupancy and a consistent cash flow.
Value-Add Opportunity: The units at Wind Crest have not undergone a significant renovation, with finishes including white appliances, laminate flooring, formica countertops, and carpet. Many of the other properties in Murfreesboro with similar vintage have upgraded finishes including (but not limited to) black or stainless steel appliances, faux hardwood flooring, & upgrading lighting packages.
Other Income Opportunity: Current ownership does not charge a flat rate or have a RUBS system in place for Water/Sewer expense. New Ownership will have the opportunity to implement this system to potentially increase NOI.
Diverse Unit Mix: Wind Crest offers investors a great unit mix with over 58% being 2 and 3 bed units. Additionally, 16 of the units are townhome style and 1 unit is a house.
Significant Growth in Murfreesboro: Murfreesboro was recently named the #16 fastest growing city in America with a 5-year growth percentage of 19.1%. Furthermore, the city was ranked the #3 “Boomtown in America” due to a 15% growth in new businesses and 31% growth of area housing.
Rutherford County Population Growth: Rutherford County is projected to overtake Hamilton County in total population in the next 3 years. Researchers at the University of Tennessee project a population of 380,052 by 2025 with the population reaching 400,000 in 2028, 500,000 in 2040, and 768,218 in 2070.