1412 Mockingbird Lane, Midland, TX 79705 | 362 Units | Built in 2019
Visit Doc CenterPROPERTY SUMMARY
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- Occupancy
- Average Leased Rent
- Average Leased Rent / SF
- Average Market Rent
- Average Market Rent / SF
- Average SF
Investment Highlights
Immediate Mark-to-Market Upside & Yield
Outsized yield play with 8+% cash-on-cash on day-one, current in-place rents are approximately 5.36% below market, presenting a clear, day-one opportunity for the next owner to drive yield through mark-to-market rent growth.
Proven Revenue Growth Story
Effective rents at the property have increased 8.28% year-over-year, demonstrating strong embedded demand and validating the community’s ability to capture continued rent growth under new ownership.
Attractive Basis Well Below Replacement Cost
The property is being offered at a significant discount to current replacement cost, allowing investors to acquire a stabilized, income-producing asset at a basis materially below what it would cost to build new in today’s construction and financing environment.
Tight Supply Dynamics Fueling Future Rent Growth
With no new supply delivering to the whole market, no concessions currently being offered, 2025 evidenced market rent growth of 9.3% showcasing the asset’s ideal position to capitalize on a constrained competitive set and outsized near-term rent growth.
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Contact Us
INVESTMENT SALES
BART WICKARD
Senior Managing Director
2214.223.6462
[email protected]
TX DRE # 609281
MATT WIDEMAN
Managing Director
214.360.3847
[email protected]
TX DRE # 673251
TUCKER S. KNIGHT
Senior Managing Director
713.469.4515
[email protected]
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