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EagleCap Newsletter - August 🦅

July kept the pressure on—and EagleCap kept moving. While the Texas market cools and policy shifts ripple through D.C., we're locking in LOIs, pushing rent higher, and laying the groundwork for a major Q4 acquisition. Here's what you need to know...




Summary

  • Texas sees its first home price dip in a decade; why we see opportunity, not slowdown

  • DFW multifamily stays strong. Occupancy rises to 94.2% as completions pick up and supply remains in check

  • Two more LOIs submitted, and a strong Houston deal is in sight

  • Renovations pick up at The Avenues with higher rents and fewer delays!

  • Steady leasing at Stone Ridge, plus final infrastructure upgrades in motion






Market Update

What’s Next for Investors


1. Texas Market Cools—But Not for Long

For the first time in over a decade, Texas home prices dipped 1.6% year-over-year in June. It’s making headlines as a sign of slowdown, but for investors, this signals something else entirely: opportunity.


As interest rates cool demand and sellers recalibrate expectations, markets like Dallas and Houston are entering a sweet spot for acquisitions. These metros still boast strong population growth, robust job creation, and long-term housing demand. In short: this is a temporary window with long-term upside, and EagleCap is leaning in.



2. DFW Multifamily Holding Strong

Multifamily performance in Dallas–Fort Worth remains solid. Occupancy ticked up to 94.2%, continuing the upward trend from Q1, with gains across all property types.


While overall construction remains subdued—marking the 11th straight quarter of reduced activity—apartment completions rose in Q2, showing early signs of momentum. With 46,773 units underway and another 17,693 expected over the next 12 months, the pipeline is active but still measured.


We see this as a healthy balance: steady demand, improving occupancy, and controlled supply—all promising signs for value-add investors in the region.






Investor Opportunities

Lining Up Our Next Big Win


We’re gearing up for a strong acquisition to fund in October/November—ideal timing for investors looking to put capital to work before year-end and optimize 2025 tax planning.


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Here’s what’s happening:

  • 2 new LOIs submitted in Texas this month

  • Targeting a value-add asset in Houston with a CFO (Call for Offers) on August 15th

  • Top broker connections made in Texas, unlocking stronger off-market deal flow

  • Pipeline building toward a high-return opportunity aligned with EagleCap’s strategy


The pieces are coming together, and this next investment is going to be great.






Deal Activity


Stone Ridge Apartments

  • Leasing continues at a solid pace, with an average of 3 new units rented per month, right on track with our expectations for summer lease-up.

  • We’re finalizing a few remaining items, including installing wiring in the crawl space to bring fiber internet to all units and to enable individual water metering for each unit. All the contracts require tenants to pay for water and sewer, so finalizing the connection of these water meters will facilitate billing these charges back to each tenant, thereby decreasing operating costs.

  • As we near full stabilization, leasing incentives and close coordination with our property manager remain essential tools in driving consistent momentum.




The Avenues

  • Units 13 and 15 completed

    • Unit 13 (1-bed) is now listed at $1,150

    • Unit 15 (2-bed) was leased at $1,250 to a current tenant relocating within the property

  • Demo completed on Unit 7

  • 5 units remain, with 2-3 more scheduled to finish this month, and the last 2-3 are on track for completion by year-end

  • Executed a cash-for-keys agreement to remove a problematic tenant, improving community stability and turnover flow

  • Validating another $50/month in maximum rents in August. Renovated 1- and 2-bed units have been renting fairly quickly for $1,100 and $1,200, respectively. So in August, we are listing units for $50 more at $1150 and $1250. The 2-bed was quickly rented for $1250 to a current tenant before it was even listed for rent. The 1-bed already has applicants. This simple increase of $50/month has a huge impact on the income and valuation of the property – Over $10,000/yr income and an increase in value of over $80k.


Be sure to check out the recent photos and videos of the updates below.







Looking Ahead

We’ve submitted over a dozen LOIs this year, and one especially promising opportunity is shaping up for August. We're preparing for a strong acquisition to fund in October/November—perfect timing for investors looking to put capital to work before year-end and lock in 2025 tax advantages.


Interest has been high, and this next deal will likely fund quickly. We'll be sharing more details soon.



Cheers,

The EagleCap Team

 
 
 

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