Overview

Asset class Real Estate
Property type Residential
Current value $47,000,000
Acquisition price $10,131,000
Total appreciation $36,869,000
Rental yield 9.8%
Occupancy rate 95.5%
Fund
FNTVS Income eREIT
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Performance

+363.9% Total Appreciation
$36,869,000 Appreciation Value
$4,600,000 Annual Rental Income
9.8% Rental Yield
Property Value Performance
Acquisition: $10,131,000
Current: $47,000,000
Total Appreciation: +363.9%
Holding Period: 27 months

Financial Details

Investment Overview
Acquisition price $10,131,000
Current market value $47,000,000
Total appreciation $36,869,000
Appreciation percentage +363.9%
Cash Flow Analysis
Annual rental income $4,600,000
Operating expenses $1,400,000
Net operating income $3,000,000
Net cash flow $3,200,000
Rental yield 9.79%
Cap rate 6.4%
Cash-on-cash return 29.61%
Risk Metrics
Debt-to-value ratio 0.0%
Occupancy rate 95.5%
Holding period 27 months
Return Breakdown
Rental income yield 9.8%
Appreciation contribution 363.9%
Cash yield 0.0%
Total return 373.7%

Property Information

Basic Information
Property type Residential
Property class Class B
Location North Charleston, SC
Acquisition date Feb 22, 2024
Status Active
Income producing Yes
Physical Characteristics
Total square footage 320,000 sq ft
Rentable square footage 315,000 sq ft
Number of units 220
Number of floors 2
Year built 2023
Price per sq ft $146.88
Investment Strategy
Strategy type Buy Hold
Projected exit date Mar 2032
Fund ownership 100.0%
Key Metrics
Cap rate 6.4%
Cash flow $3,200,000
Debt-to-value 0.0%
Units 220
Square footage 320,000 sq ft
Rent per sq ft $14.60/yr
Investment Thesis

Highland Townhomes represents a modern build-to-rent strategy focused on capturing long-term demand for suburban-style housing in high-growth Sunbelt markets, where rising homeownership costs continue to push residents toward rental alternatives that offer more space and privacy than traditional apartments. By developing and stabilizing a large-scale townhome community in the Charleston metro—an area benefiting from strong population inflows, job growth, and limited housing supply—Fundrise positioned the asset to generate durable cash flow through high occupancy and increasing rental rates. The investment thesis centers on delivering institutional-quality rental housing with lower turnover and maintenance risk compared to older multifamily assets, while benefiting from rent growth and eventual exit at a premium valuation driven by strong investor demand for stabilized BTR communities.

Location

Off Boots Ave

North Charleston, SC 29418, US

Full Address

Off Boots Ave
North Charleston, SC 29418

Property Type

Residential - Class B

Year Built

2023

Property Size

320,000 sq ft

Amenities & Features

Property Amenities

Private garages / driveways
Community security (fencing + patrols)
Modern interior finishes (new construction layouts)

Key Investment Features

Fully stabilized 220-unit build-to-rent community
Located ~20 minutes from downtown Charleston
Strong rental demand driven by population growth in Sunbelt
Designed for renters seeking single-family lifestyle without ownership
Proven lease-up success with peak rents achieved post-stabilization

Our strategy

Real Estate Investment Strategy

Build a diversified portfolio of institutional-quality real estate assets that generate stable income and long-term appreciation

  • Expected variability of return: Low to Moderate
  • Timing of expected return: Quarterly distributions from rental income
  • Primary expected source of returns: Rental income and property appreciation
  • Asset focus: Income-generating properties in growing markets
  • Geographic strategy: Diversified across major metropolitan markets
  • Property management: Professional third-party management with institutional oversight
More about our real estate strategy

This section is intended to provide a general overview of the investment strategy for educational purposes only, and is not meant to be representative of the specific details of any individual investment. All investments involve risk; there are no guarantees of any returns.

Real estate strategy icon

Fund information

FNTVS Income eREIT

Open Real Estate Fund

The Income eREIT is designed to generate current income by acquiring and managing income-producing real estate.