CONCORD HOMES · CONCORD HOMES KENT MYERS First Vice President Investments Austin, Texas Direct: (512) 338-7853 [email protected] License: TX 0561047 EXCLUSIVELY LISTED

CONCORD HOMES

O F F E R I N G M E M O R A N D U M

A N A PA RT M E N T CO M M U N I T Y I N B E AU M O N T, T E X AS

N O N - E N D O R S E M E N T & D I S C L A I M E R N O T I C E

C O N F I D E N T I A L I T Y & D I S C L A I M E RThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus

& Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared

to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained

herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with

respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and

improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the

improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property.

The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not

verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation

whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth

herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2018 Marcus & Millichap. All rights reserved.

N O N - E N D O R S E M E N T N O T I C EMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any

corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or

subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about

this listing to prospective customers.

A L L P R O P E R T Y S H O W I N G S A R E B Y A P P O I N T M E N T O N LY .P L E A S E C O N S U L T Y O U R M A R C U S & M I L L I C H A P A G E N T F O R M O R E D E T A I L S .

SPECIAL COVID-19 NOTICE All potential buyers are strongly advised to take advantage of their opportunities and obligations to conduct thorough due diligence and seek expert opinions as they may

deem necessary, especially given the unpredictable changes resulting from the continuing COVID-19 pandemic. Marcus & Millichap has not been retained to perform, and

cannot conduct, due diligence on behalf of any prospective purchaser. Marcus & Millichap’s principal expertise is in marketing investment properties and acting as intermedi-

aries between buyers and sellers. Marcus & Millichap and its investment professionals cannot and will not act as lawyers, accountants, contractors, or engineers. All potential

buyers are admonished and advised to engage other professionals on legal issues, tax, regulatory, financial, and accounting matters, and for questions involving the property’s

physical condition or financial outlook. Projections and pro forma financial statements are not guaranteed and, given the potential volatility created by COVID-19, all potential

buyers should be comfortable with and rely solely on their own projections, analyses, and decision-making.

C O N C O R DH O M E S

K E NT MY E R SFirst Vice President Investments

Austin, TexasDirect: (512) 338-7853

[email protected]: TX 0561047

EXCLUSIVELY LISTED BY


TABLE OF CONTENTS

R E N T C O M PA R A B L E S2533

E X E C U T I V E S U M M A R Y 7P R O P E R T Y D E S C R I P T I O N13

F I N A N C I A L A N A LY S I S 19

M A R K E T O V E R V I E W

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap


Executive Summary

o f f e r i ng s ummar y

summary o f t e rms

i nve stment ove rv i ew & h i gh l i ghts

s e c t i o n 1

O F F E R I N G S U M M A R Y

C ONC OR D HOM E S

Rentable Square Feet 85,368 SF

Number of Buildings 18

Number of Stories 2

Year Built 1955

Lot Size 6.879 AC

Price to Be Determined By MarketTotal Price 100 Total

Units

E X E C U T I V E S U M M A R Y8


I N T E R E S T O F F E R E DMarcus and Millichap has been retained on an exclusive basis to offer fee simple

interest to qualified investors.

T E R M S O F S A L EConcord Homes is offered free and clear of any existing debt.

P R O P E R T Y T O U R SProspective purchasers are encouraged to visit the subject property prior to

submitting offers. However, all property tours must be arranged with the Marcus &

Millichap listing agent. At no time shall the tenants, on-site management or staff

be contacted without prior approval.

S U M M A R Y O F T E R M S

E X E C U T I V E S U M M A R Y 9


E X E C U T I V E S U M M A R Y10

CONCORD HOMES2020 Cottonwood Street, Beaumont, TX 77703

Concord Homes is a now-vacant apartment community located in Beaumont, Texas. It previously operated as subsidized housing for the state. The complex was originally built in 1955 and has been renovated in 1978 and 1998. Concord Homes consists of 100 units arranged in eighteen two-story buildings and offers four spacious floorplans: a one-bedroom/one-bathroom measuring 516 square feet, a two-bedroom/one-bathroom measuring 800 square feet, a three-bedroom/one-bathroom measuring 900 square feet, and a four-bedroom/

one-bathroom measuring 1,056 square feet. The units currently feature vinyl and hardwood flooring, laminate countertops, and refrigerators and gas stoves in the kitchens. The complex has a playground and a building for

a leasing office and clubhouse. The property is ready to be completely renovated with modern unit interiors and new community amenities.

Concord Homes is strategically located in north Beaumont closely surrounded by employment opportunities, a strong retail presence, and recreational activities. Within just a couple miles of the property, residents can find several schools, parks, shopping centers, a plethora of restaurants and eateries, and much more. Concord Homes is conveniently located by Beaumont’s premier shopping corridor which includes the

Parkdale Mall, Gateway Shopping Center, and the Village Shopping Center. The apartments are located just north of Interstate 10, giving future residents easy means to everything Beaumont has to offer as well as interregional

access. Concord Homes is a unique offering providing investors with strong upside potential and long-term value appreciation.

I N V E S T M E N T H I G H L I G H T SReady for Complete Renovation

Highly Visible Location off Interstate 10

Nearby Local Retail Centers & Eateries

Conveniently Located Between Houston and Louisiana’s Lake Charles Market

One of the Nation’s Largest Petrochemical Refining AreasE X E C U T I V E S U M M A R Y 11



r eg i o na l map & a e r i a l

p r ope rt y d eta i l s

amen i t i e s

s e c t i o n 2

Property Description

100 UNITS

CONCORDHOMES


P R O P E R T Y D E S C R I P T I O N14

P R O P E R T Y D E S C R I P T I O N 15

PROPERTY DESCRIPTION // Concord Homes

Parcel 122217Number of Units 100Year Built 1955Year Renovated 1978, 1998Number of Buildings 18Number of Stories 2Acreage 6.879 AcresDensity 14.54 Units/ AcreRentable Square Footage 85,368 Sq FtLaundry Facility On-SiteParking Open Concrete Surface; 160 Spaces On-SiteParking Ratio 1.6 Spaces/ UnitUtilities Public Water, Sewer, Gas, ElectricityProperty Amenities Playground, Office/ Clubhouse

STRUCTURALFoundation Concrete SlabBuilding Frame WoodExterior Walls Brick, Vinyl, MetalRoof Type/ Material Pitched/ Tar and Gravel

TAXES2020 Preliminary Assessed Value $2,423,7612020 Preliminary Total Tax Rate 2.726355%County Jefferson

SCHOOLSBeaumont ISD 18,697 Students Enrolled At 28 CampusesLamar University ~15,460 Students Enrolled

UNIT FEATURESFloors Vinyl, Hardwood UpstairsWalls/ Ceilings Painted DrywallKitchen Appliances Refrigerator, Gas StoveCountertops Laminate


P R O P E R T Y D E S C R I P T I O N16

P R O P E R T Y D E S C R I P T I O N 17



Financial Analysiss e c t i o n 3

ope rat i ng s tatement

r e nt r o l l s ummar y

OPERATING STATEMENT // Concord Homes

INCOME YEAR 1 PER UNIT PER SF

Gross Scheduled Rent 973,200 9,732 11.40

Physical Vacancy (48,660) 5.0% (487) (0.57)

Economic Vacancy

Non-Revenue Units (9,732) 1.0% (97) (0.11)

Bad Debt (14,598) 1.5% (146) (0.17)

Total Vacancy ($72,990) 7.5% ($730) ($1)

Economic Occupancy 92.50%

Effective Rental Income 900,210 9,002 10.55

Other Income

Utility Bill-Back 65,000 650 0.76

All Other Income 15,000 150 0.18

Total Other Income $80,000 $800 $0.94

Effective Gross Income $980,210 $9,802 $11.48

F I N A N C I A L A N A L Y S I S20


OPERATING STATEMENT // Concord Homes

EXPENSES YEAR 1 PER UNIT PER SF

Real Estate Taxes 111,780 1,118 1.31

Insurance 50,000 500 0.59

Utilities - Electric 85,000 850 1.00

Repairs & Maintenance 45,000 450 0.53

Payroll 140,000 1,400 1.64

Contract Services 35,000 350 0.41

General & Administrative 35,000 350 0.41

Operating Reserves 25,000 250 0.29

Management Fee 34,307 3.5% 343 0.40

Total Expenses $561,087 $5,611 $6.57

Expenses as % of EGI 57.2%

Net Operating Income $419,123 $4,191 $4.91

F I N A N C I A L A N A L Y S I S 21

SCHEDULED POTENTIAL

UNIT TYPE # OF UNITS AVG SF AVG RENT AVG RENT/SFMONTHLY INCOME

AVG RENTAVG

RENT/SFMONTHLY INCOME

One Bedroom / One Bathroom 6 516 $650 $1.26 $3,900 $650 $1.26 $3,900

Two Bedroom / One Bathroom 42 800 $760 $0.95 $31,920 $760 $0.95 $31,920

Three Bedroom / One Bathroom 40 900 $850 $0.94 $34,000 $850 $0.94 $34,000

Four Bedroom / One Bathroom 12 1,056 $940 $0.89 $11,280 $940 $0.89 $11,280

Totals/Weighted Averages 100 854 $811 $0.95 $81,100 $811 $0.95 $81,100

Gross Annualized Rents $973,200 $973,200

R E NT R O L L S U M M A RY // Concord Homes

Unit Distribution Unit Rent

F I N A N C I A L A N A L Y S I S22


F I N A N C I A L A N A L Y S I S 23



Rent Comparabless e c t i o n 4

5

1

2

3 6

7

4100 UNITS

CONCORDHOMES

R E N T C O M P A R A B L E S26

RENT COMPARABLES // Concord Homes

PROPERTIES# OF

UNIT SAVG

SQ FTAVG RENTPER UNIT

AVG RENTPER SQ FT O C CUPANCY

DISTANCE FROM SUBJECT

C ONC OR D HOM E S// 2020 C ottonwo o d Stre et , B eaumont , T X 77703 100 854 $811 $0.95 0%

1 BROA DWAY// 2329 Bro adway Stre et , B eaumont , T X 77702 52 900 $912 $1.01 96% 1.3 Mi

2 MO S A IC// 2570 Swe etgum L ane, B eaumont , T X 77703 122 842 $932 $1.11 88% 1.0 Mi

3 R E G E NC Y// 4075 L aurel Stre et , B eaumont , T X 77707 128 762 $736 $0.96 100% 2.7 Mi

4 SPA N I SH V I L L A// 2755 L ouisiana Stre et , B eaumont , T X 77702 50 822 $708 $0.86 100% 1.2 Mi

5 T E R R A Z Z O// 2555 Swe etgum L ane, B eaumont , T X 77703 36 703 $800 $1.14 92% 1.0 Mi

6 T I M BE R L A K E C OU RT S// 125 IH-10 N. , B eaumont , T X 77707 220 857 $695 $0.81 70% 2.4 Mi

7 V I RG I N IA E STAT E S// 2250 W Virginia Stre et , B eaumont , T X 77705 110 820 $822 $1.00 96% 5.4 Mi

Averages 102 820 $802 $0.98 92% 2.1 Mi

*Concord not included in calculated average

R E N T C O M P A R A B L E S 27

B R O A D WA Y2329 Broadway Street , B eaumont , T X 77702

1

TotalUnits100 Total

Occupancy0% YearBuilt 1955C O N C O R D H O M E S

2020 C ottonwood Street , B eaumont , T X 77703

TotalUnits52 Total

Occupancy96% YearBuilt 1971

UNIT T YPE # OF U N I T S SQUARE FEET RENT RENT/SF

1 bed x 1 bath 6 516 $650 $1.26

2 bed x 1 bath 42 800 $760 $0.95

3 bed x 1 bath 40 900 $850 $0.94

4 bed x 1 bath 12 1,056 $940 $0.89

TOTAL/WTD. AVG. 100 854 $811 $0.95


1 bed x 1 bath 8 702 $775 $1.10

1 bed x 1 bath 4 643 $800 $1.24

2 bed x 1 bath 40 965 $950 $0.98

TOTAL/WTD. AVG. 52 900 $912 $1.01


TotalUnits122 Total

Occupancy88% YearBuilt 1969M O S A I C

2570 Sweetgum L ane, B eaumont , T X 77703

2


1 bed x 1 bath 25 569 $730 $1.28

1 bed x 1 bath 25 783 $830 $1.06

1 bed x 1 bath loft 30 808 $1,015 $1.26

2 bed x 1.5 bath 20 934 $950 $1.02

2 bed x 2 bath 22 1,184 $1,150 $0.97

TOTAL/WTD. AVG. 122 842 $932 $1.11

TotalUnits128 Total

Occupancy100% YearBuilt 1973R E G E N C Y

4075 L aurel Street , B eaumont , T X 77707


1 bed x 1 bath 36 568 $645 $1.14

1 bed x 1 bath 36 673 $695 $1.03

2 bed x 1 bath 28 848 $790 $0.93

2 bed x 2 bath 28 1,042 $850 $0.82

TOTAL/WTD. AVG. 128 762 $736 $0.96

3


S PA N I S H V I L L A2755 Louis iana Street , B eaumont , T X 77702

4TotalUnits50 Total



1 bed x 1 bath 24 656 $655 $1.00

2 bed x 1 bath 20 960 $755 $0.79

2 bed x 2 bath 6 1,024 $765 $0.75

TOTAL/WTD. AVG. 50 822 $708 $0.86

TotalUnits36 Total

Occupancy92% YearBuilt 1964T E R R A Z Z O

2555 Sweetgum L ane, B eaumont , T X 77703


1 bed x 1 bath 22 605 $765 $1.26

2 bed x 1 bath 14 858 $855 $1.00

TOTAL/WTD. AVG. 36 703 $800 $1.41

5


V I R G I N I A E S T A T E S2250 W Virginia Street , B eaumont , T X 77705

7

TotalUnits220 Total

Occupancy70% YearBuilt 1969T I M B E R L A K E C O U R T S

125 IH-10 N. , B eaumont , T X 77707

TotalUnits110 Total


6


1 bed x 1 bath 16 540 $545 $1.01

1 bed x 1 bath 48 672 $595 $0.89

1 bed x 1 bath 24 816 $635 $0.78

1 bed x 1 bath 60 840 $695 $0.83

2 bed x 2 bath 72 1,080 $815 $0.75

TOTAL/WTD. AVG. 220 857 $695 $0.81


1 bed x 1 bath 3 635 $718 $1.13

1 bed x 1 bath 11 635 $630 $0.99

2 bed x 1 bath 18 761 $816 $1.07

2 bed x 1 bath 30 761 $715 $0.94

3 bed x 1.5 bath 15 871 $961 $1.10

3 bed x 1.5 bath 19 871 $850 $0.98

4 bed x 2 bath 7 1,065 $1,115 $1.05

4 bed x 2 bath 5 1,065 $910 $0.85

5 bed x 2 bath 1 1,188 $1,196 $1.01

5 bed x 2 bath 1 1,188 $1,126 $0.95

TOTAL/WTD. AVG. 110 820 $822 $1.00




Market Overview

c i t y o v e rv i ew

l o c a l a tt ra c t i o n s

d emograph i c s

s e c t i o n 5

BEAUMONTT E X A S

P O P U L A T I O N1 1 9 , 5 0 0

M A R K E T O V E R V I E W34


C i t y O fB E A U M O N T

Quality of L ife Beaumont is a great place to live, work and play where metropolitan amenities blend with small town hospitality and values. The YMBL Southeast Texas State Fair, the Beaumont Farmers Market, Heritage Happy Hour, the Gusher Marathon, Dogtober Fest, and the concerts of the Symphony of Southeast Texas are just a few of the events that bring downtown Beaumont alive throughout the year. Beaumont boasts a great deal of history with many museums to visit including the famous Spindletop-Gladys City Boomtown Museum, a recreated town showing life in the early 1900’s at the start of the Texas oil boom. Numerous parks and other natural amenities in the area allow for many outdoor recreational activities. Additionally, the affordable housing market enhances the quality of life of Beaumont’s residents and newcomers. The cost of living in Beaumont is 7% below national average.

Market DriversEXXONMOBIL REFINERY: The 2,400 acre complex immediately southeast of downtown Beaumont employs over 2,000 people and pays over fifty million dollars in local taxes each year. The flagship refinery of ExxonMobil produces over 2.8 billion gallons of fuel annually.

PORT OF BEAUMONT: With annual economic activity exceeding $1.8 billion and more than $111 million being contributed to the economy via re-spending and local consumption, the Port of Beaumont is the fourth busiest port in the United States and the nation’s busiest military port.

Beaumont is located in southeast Texas, within the Beaumont- Port Arthur- Orange MSA, known as the Golden Triangle. The metro consists of the counties of Newton, Hardin, Jefferson and Orange and contains 413,000 people and growing. The southeast Texas population is expected to grow 4.6% by 2020. Beaumont is the most populous city with 119,500 residents. The city is located off the Gulf of Mexico, approximately 90 miles east of Houston and 60 miles west of Louisiana, providing businesses and companies with access to more than 2.5 million people within a two-hour drive. Beaumont benefits from being situated in between Houston, the nation’s fourth most populous city with booming energy, manufacturing, aeronautics, and transportation industries, and Lake Charles, Louisiana, the fastest growing city in Louisiana with more than $40 billion in planned capital investments for the region. Beaumont is easily accessible by land (Interstate 10), sea (Port of Beaumont), train and air (Jack Brooks Airport).

Energy-sector activities play a significant part in the metro’s economy. Companies represented in the area include Gulf Oil, Humble Oil, Magnolia Petroleum Co. and Exxon Mobil. The area is home to a large portion of the nation’s refining capacity. Aside from corporate headquarters and the energy industry, large employers represent diverse employment sectors and generate large staff counts. These include Conn’s, Lamar University, Christus St. Elizabeth Hospital and Memorial Baptist Hospital. The Sabine-Neches Waterway ranks among the top in the U.S. in terms of commercial military outload and is one of the nation’s largest waterway by cargo volume.

M A R K E T O V E R V I E W 35

LOCAL ATTRACTIONS // Concord Homes

Miles +/- to Concord Homes:

ConvenienceChevron Gas Station

Valero Gas Station

Exxon Gas Station

BBVA Bank

Fire Rescue Station No. 1

0.9 Mi

0.9 Mi

0.9 Mi

1.2 Mi

0.7 Mi

RecreationCombest Park

Cottonwood Park

Babe Zaharias Memorial Stadium

Babe Didrikson Memorial Museum

Ida Reed Dog Park

Magnolia Park

Sterling Pruitt Activity Center

1.3 Mi

0.2 Mi

0.5 Mi

0.8 Mi

0.7 Mi

1.0 Mi

0.9 Mi

Food & DrinkMarket Basket

Rose Seafood & Grocery Store

Waffle House

Burger King

Dunkin’ Donuts

Luby’s

Red Lobster

Jack in the Box

Church’s Chicken

McDonald’s

Saltgrass Steak House

1.6 Mi

0.3 Mi

1.1 Mi

0.7 Mi

1.5 Mi

1.1 Mi

1.2 Mi

0.8 Mi

1.2 Mi

0.9 Mi

2.1 Mi



Rose Seafood & Rose Seafood & Grocery StoreGrocery Store

Cottonwood ParkCottonwood Park

100 UNITS

CONCORDHOMES

Babe ZahariasBabe ZahariasMemorial StadiumMemorial Stadium

Ida Reed Dog ParkIda Reed Dog Park

MarketMarketBasketBasket

Combest ParkCombest Park

Magnolia ParkMagnolia Park

Babe DidriksonBabe DidriksonMemorial MuseumMemorial Museum

Sterling PruittSterling PruittActivity CenterActivity Center

Fire Rescue Fire Rescue Station No. 1Station No. 1


DEMOGRAPHICS // Concord Homes

1-Mile

3-Mile

5-Mile

102,469Total Populat ion Within 5 Mi le R adius

GENDER

47.96%

52.04%

$66,944Average Household Income within

5 Mi le R adius

$99,800Median Proper ty Value

40,278Total Households in 5 Mi le R adius

2.26% From 2015

100 UNITS

CONCORDHOMES



POPUL ATION 1 Mi le 3 Mi les 5 Mi les2024 Projection

Total Population 8,473 52,241 104,026

2019 Estimate


2010 Census


2000 Census


Daytime Population

2019 Estimate 9,552 85,583 150,317

HOUSEHOLDS 1 Mi le 3 Mi les 5 Mi les2024 Projection

Total Households 3,203 20,368 41,190

2019 Estimate


Average (Mean) Household Size 2.53 2.53 2.48

2010 Census


2000 Census


Growth 2015-2020 -0.99% 1.07% 2.26%

HOUSING UNIT S 1 Mi le 3 Mi les 5 Mi lesOccupied Units

2024 Projection 3,203 20,368 41,190

2019 Estimate 3,803 23,031 45,869

Owner Occupied 1,441 10,730 21,846

Renter Occupied 1,794 9,423 18,432

Vacant 568 2,879 5,591

Persons In Units

2019 Estimate Total Occupied Units 3,235 20,153 40,278

1 Person Units 31.78% 29.74% 29.74%

2 Person Units 28.19% 30.61% 31.91%

3 Person Units 16.69% 16.48% 16.48%

4 Person Units 11.22% 12.16% 11.79%

5 Person Units 7.11% 6.29% 5.94%

6+ Person Units 5.07% 4.72% 4.14%

HOUSEHOLDS BY INC OME 1 Mi le 3 Mi les 5 Mi les2019 Estimate

$200,000 or More 1.49% 4.44% 3.84%

$150,000 - $199,000 1.75% 3.16% 3.71%

$100,000 - $149,000 3.92% 8.76% 9.85%

$75,000 - $99,999 6.09% 8.67% 9.26%

$50,000 - $74,999 12.26% 16.56% 18.18%

$35,000 - $49,999 14.20% 13.34% 13.42%

$25,000 - $34,999 12.06% 11.08% 10.11%

$15,000 - $24,999 20.08% 15.00% 14.54%

Under $15,000 28.16% 18.98% 17.09%

Average Household Income $42,733 $66,090 $66,944

Median Household Income $26,458 $39,820 $44,452

Per Capita Income $16,572 $25,825 $26,587

POPUL ATION PROFILE 1 Mi le 3 Mi les 5 Mi lesPopulation By Age

2019 Estimate Total Population 8,581 51,940 102,469

Under 20 30.29% 29.27% 28.39%

20 to 34 Years 22.19% 21.19% 21.93%

35 to 39 Years 6.43% 6.51% 6.36%

40 to 49 Years 11.49% 11.16% 10.92%

50 to 64 Years 18.03% 18.29% 18.30%

Age 65+ 11.58% 13.61% 14.10%

Median Age 33.25 34.66 34.75

Population 25+ by Education Level

2019 Estimate Population Age 25+ 5,383 33,348 65,865

Elementary (0-8) 6.57% 6.31% 5.41%

Some High School (9-11) 14.77% 9.53% 8.46%

High School Graduate (12) 38.49% 30.59% 30.97%

Some College (13-15) 24.36% 25.55% 25.57%

Associate Degree Only 4.33% 5.23% 6.00%

Bachelors Degree Only 6.35% 14.19% 14.68%

Graduate Degree 2.87% 6.74% 7.48%

Population by Gender

2019 Estimate Total Population 8,581 51,940 102,469

Male Population 49.82% 48.25% 47.96%

Female Population 50.18% 51.75% 52.04%


INFORMATION ABOUT BROKERAGE SERVICESTexas law requires all real estate license holders to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:• A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.• A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):• Put the interests of the client above all others, including the broker’s own interests;• Inform the client of any material information about the property or transaction received by the broker;• Answer the client’s questions and present any offer to or counter-offer from the client; and• Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or propertymanagement agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction knownby the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agentmust perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosedto the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The writtenagreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

• Must treat all parties to the transaction impartially and fairly;• May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to,

and carry out the instructions of each party to the transaction.• Must not, unless specifically authorized in writing to do so by the party, disclose:

that the owner will accept a price less than the written asking price; that the buyer/tenant will pay a price greater than the price submitted in a written offer; and any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not representthe buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:• The broker’s duties and responsibilities to you, and your obligations under the representation agreement.• Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Pleaseacknowledge receipt of this notice below and retain a copy for your records.

Information available at www.trec.texas.govRegulated by the Texas Real Estate CommissionIABS 1-0

11-2-2015

Marcus & Millichap 9002994 [email protected] 972-755-5200

Licensed Broker /Broker Firm Name or Primary Assumed Business Name License No. Email Phone

Tim A. Speck 432723 [email protected] 972-755-5200

Designated Broker of Firm License No. Email Phone

Craig R. Swanson 538612 [email protected] 512-338-7800

Licensed Supervisor of Sales Agent/Associate License No. Email Phone

Sales Agent/Associate’s Name License No. Email Phone

Buyer/Tenant/Seller/Landlord Initials Date


K E NT MY E R SFirst Vice President Investments

Austin, TexasDirect: (512) 338-7853

[email protected]: TX 0561047

EXCLUSIVELY LISTED BY

Documents

CONCORD HOMES · CONCORD HOMES KENT MYERS First Vice President Investments Austin, Texas Direct: (512) 338-7853 [email protected] License: TX 0561047 EXCLUSIVELY LISTED