The Opportunity

Investment Highlights

• Newly Stabilized, Institutional Quality BTR Asset

  Bungalows at Asante is a newly built horizontal build-to-rent community now nearing full, now in its second wave of renewals — demonstrating durable renter demand for its differentiated, low-density detached product. Single-story detached and duplex homes feature gourmet kitchens with quartz countertops, stainless steel appliances, two-tone cabinetry, wood-style flooring, airy 10-foot ceilings, walk-in closets, dedicated laundry rooms*, alongside private, fenced yards with turf and concreter pads. These elevated units are paired with an amenity set that rivals conventional Class A multifamily — a farmhouse-style clubhouse with a large fitness center and conference/gathering area, a resort-style pool and spa, and a large dog park— all within a gated, low-density community.

• Anchored by the Master-Planned Asante Community

  Bungalows at Asante sits within Asante, a 7,793-lot master-planned community in the Northwest Valley being built out by Lennar, Pulte, Taylor Morrison, and Richmond American, with for-sale product ranging from the $319Ks to $725K — underscoring the depth and affluence of the surrounding residential base. Public amenities include a highly rated elementary school, 7 acres of lakes, a 50-acre central park, an event lawn, an extensive trail system, two dog parks, a lighted baseball field, a basketball court, a soccer field, a playground, and a public library — all accessible to Bungalows residents with no added HOA cost, including direct pedestrian access via a tunnel under Pat Tillman Boulevard to the elementary school, central park, and public library, plus a private gate to a public park abutting the community.

• High Barriers to Entry and Limited Multifamily Development

  No multifamily or BTR communities are currently under construction in Northwest Phoenix, and horizontal build-to-rent product continues to command a 28% rent premium over conventional multifamily — creating one of the strongest near-term supply-demand dynamics in Metro Phoenix.

• High Mortgage Rates and Limited Resales Bolster Build-to-Rent Demand

  Elevated mortgage rates continue to support renter demand across the Northwest Valley: the estimated cost of homeownership within 5 miles of Bungalows at Asante runs approximately $3,341/month versus $1,901 average effective rent here — a ~76% ($1,440/month) premium to buy, before the ~$46,000 down payment required to purchase. 

• Other Income Opportunities

  243 carports are unreserved and issued by sticker at no charge, representing a straightforward opportunity to introduce a paid reserved-carport tier. No valet trash service is offered today, a common ancillary income line at comparable communities.

• Young, Affluent, & Diverse Resident Demographics Support Strong Collections

  Resident retention exceeds 55%, with zero evictions in the past six months, reflecting both product differentiation and a stable, high-quality resident base. The community carries an average household income of approximately $85,000 (median $67,200) and a young resident base — median age 35, with roughly half of residents under 35. A ~3.7x income-to-rent ratio supports room to hold and grow rents.

• Dysart Unified: A Well-Regarded West Valley School District

  Bungalows at Asante is situated within Dysart Unified School District, rated B+ overall by Niche, with residents zoned to Asante Preparatory Academy (PK–5, B — reached via a pedestrian tunnel under Pat Tillman Boulevard), Cimarron Springs Middle School (6-8, B+), and Willow Canyon High School (9-12, A-).

• Healthcare Infrastructure Supports Durable Rental Demand

  The Northwest Valley’s healthcare sector is one of the region’s largest and most resilient, anchored by Banner Health, Abrazo Health, and HonorHealth, with an expanding outpatient medical network across the West Valley — including a 20-acre HonorHealth medical campus planned directly across the street within Asante Trails.

• Strong Employment & Infrastructure-Driven Demand

  With freeway-direct access to Loop 303, Bungalows at Asante sits along the Northwest Valley’s emerging advanced-manufacturing corridor — anchored by TSMC’s $265 billion semiconductor campus (10 fabs, two packaging facilities, and an R&D center) at 43rd Avenue & Loop 303, and Amkor’s $12 billion advanced packaging facility in nearby Peoria — together generating tens of thousands of high-paying jobs. Longer-term, BNSF’s $3.2 billion Logistics Park Phoenix, under construction near Wittmann, is projected to generate 76,000+ direct and indirect jobs, with its initial intermodal terminal targeting operations in early 2027.

• Proximity to Lifestyle and Retail

  Minutes from Surprise City Center and Village at Prasada (two exits south on Loop 303). Residents also have a walkable Fry’s Marketplace-anchored retail center directly adjacent (grocery, fuel, Taco Bell, McDonald’s, Blackrock Coffee), plus CAVAand First Watch open today across Pat Tillman Boulevard within SimonCRE’s Asante Trails retail development (Sprouts Farmers Market, EoS Fitness, Dutch Bros, Chase Bank) opening 2027–2028.