The Numbers
Download Deal Summary2026 New Construction SFR
Cedar Crest, Dallas TX
Ground-up new construction on a ~0.42-acre lot in the Cedar Crest corridor of South Dallas. Land acquired at ~53% below the most recent comparable land sale. Fixed 8.9% construction debt. Close date July 20, 2026.
- Cedar Crest Submarket — 5 miles south of Downtown Dallas. Historic South Dallas neighborhood anchored by the recently renovated Cedar Crest Golf Course, with strong homeownership rates above 50%.
- New construction ground-up SFR at 2228 Van Cleave Drive. Land acquired at ~53% below the most recent comparable land sale in the corridor — meaningful downside protection before construction begins.
- Comps support a $550K+ exit: 2204 Bonnie View Rd sold $570K, 2214 Bonnie View Rd sold $480K, active listing at 2123 Southerland Ave asking $575K — target sale price is conservative, not aggressive.
- Construction debt fixed at 8.9%. Total project cost $400K ($100K land + $300K build), targeting $550K sale — 50% investor return on a 15-month max hold.
Built for
Permanence.
Comparable new construction homes in the Cedar Crest / Bonnie View corridor of South Dallas.
2204 Bonnie View Rd
2123 Southerland Ave
2214 Bonnie View Rd
Why This Deal,
Why Now.
Fixed-Rate Construction Debt
Construction financing locked at 8.9% fixed for the full 15-month term. No floating rate exposure. No rate-cap insurance required. Your preferred return is protected from day one.
Land Acquired at a Deep Discount
2228 Van Cleave Drive was acquired at $100,000 — roughly 53% below the most recent comparable land sale in the same corridor (2304 Bonnie View Rd sold for $215,000 in January 2026 on a similarly sized 0.421-acre lot with golf course frontage). That discount is your margin of safety before a single nail is driven.
Conservative Exit, Proven Corridor
The $550,000 target sale price is intentionally below the most recent closed comp ($570,000 at 2204 Bonnie View Rd, March 2024) and the active listing at 2123 Southerland Ave ($575,000). The Bonnie View / Van Cleave corridor has shown a consistent two-year upward price trend — from $480K (April 2025) to $570K (March 2024) — and all comps sit within blocks of the recently renovated Cedar Crest Golf Course, a durable neighborhood anchor driving buyer demand.
Market Analysis | Cedar Crest Corridor
Subject property: 2228 Van Cleave Drive, Dallas TX 75216
| # | Address | City | Bd | Baths | SqFt | YB | List Price | Sold Price | Sold Date | Notes |
|---|---|---|---|---|---|---|---|---|---|---|
| Listings: Closed | ||||||||||
| 1 | 2214 Bonnie View Rd | Dallas | 3 | 3/0/3 | 2,342 | 2024 | — | $480,000 | 04/08/2025 | Modern new construction directly across from Cedar Crest Golf Course |
| 2 | 2204 Bonnie View Rd | Dallas | 4 | 3/0/3 | 2,756 | 2018 | — | $570,000 | 03/2024 | Larger 4-bed, 2018 build in same corridor |
| Listings: Active | ||||||||||
| 1 | 2123 Southerland Ave | Dallas | — | — | — | — | $575,000 | — | — | Active listing fronting Cedar Crest Golf Course corridor |
| # | Address | City | Acres | Price | Price / Acre | Close Date | Notes |
|---|---|---|---|---|---|---|---|
| Land Comparables | |||||||
| 1 | 2304 Bonnie View Rd (Comp) | Dallas | 0.421 | $215,000 | $510,689/acre | 01/20/2026 | Unimproved lot with golf course frontage; overlooks Cedar Crest Golf Course and wooded drop-off with downtown Dallas views |
| 2 | 2228 Van Cleave Dr (Subject) | Dallas | ~0.42 | $100,000 | $238,095/acre | — | Acquired ~53% below comp land basis — meaningful downside protection |
Source: Third St Capital Partners research. Comparable sales data for Cedar Crest / Bonnie View corridor, Dallas TX 75216. The estimated sale price is not the same as an appraisal value by a licensed appraiser under USPAP.
People You Can
Hold Accountable.
Our team has facilitated and or built over $200M in real estate transactions over the past 10 years.
Courtland Charles
Asset Manager — 316 Third LLC
10 years in the real estate industry. With over $150 Million worth of commercial and residential real estate deals across the Sun Belt region.
Harrison Daniels
Head of Construction — HD3 Customs LLC
Harrison Daniels leads HD3 Customs LLC, bringing hands-on expertise in ground-up residential construction. Known for delivering quality builds on time and on budget, Harrison is already engaged and ready to execute on 2228 Van Cleave Drive.
Wilson Fuqua
Architect
Wilson & Fuqua Architects is a Dallas-based design firm known for creating thoughtful, functional spaces across commercial and residential projects. They focus on practical solutions, quality design, and delivering projects that align with client goals and long-term value.
316 Third LLC
Building Wealth.
One Deal at a Time.
2228 Van Cleave Dr, Dallas TX 75216