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🔥 THIS WEEK

📍 8208 Troost Ave, Kansas City, MO 64131
💰 Price: $5,900,000 ($75,641/unit)
🏠 Units: 42×1BR/1BA + 36×2BR/1BA, 91% Occupied
🏦 Year 1 CF: $250,164/yr (15.1% CoC) | Cap: 10.1%

15.1% CoC Exceptional Day 1: $20,847/mo ($250K/year) passive income rare stabilized multifamily, most deals require 2-3 years value-add to hit 10%+, this delivers immediately

10.1% Cap Rate Premium: Kansas City average 6-8%, buying 2-4% above market cap = value purchase at $75,641/unit versus $100-150K typical KC pricing

78-Unit Institutional Scale: True scale enables professional management justification, economies of scale operational efficiency, portfolio-grade asset not mom-and-pop building

Section 8 Voucher Stability: Government-backed rent payments lower collection risk, consistent occupancy recession-resistant, 60-80% likely voucher tenants based on location

43.5% Expense Ratio HIGH: Industry standard 30-35%, this property 43.5% primarily driven by owner-paid utilities $168,553/year ($14,046/mo) = 37% of total expenses

Utility Burden Reality:

9% Vacancy Currently: 91% occupied = 7 empty units, Section 8 typically lower vacancy, may indicate unit condition or management issues requiring attention

Value-Add Path Clear: Current $1,184/unit average versus market $1,308 upgraded = $124/unit × 78 = $9,672/mo ($116K/year) upside through light renovations

Value-Add Investment Math:

10-Year Wealth Projection: Cash flow $2M+, equity $6.33M, total wealth $8.33M on $1.65M invested = 404% return (40% annually)

Risk Level: MEDIUM - High expenses manageable but tight margins, utility burden ongoing, Troost corridor working-class location, Section 8 concentration, but exceptional cash flow justifies

Recommended Strategy: STRONG BUY for experienced multifamily operators, $250K/year Day 1 cash flow with 1.73x debt coverage safe, 43.5% expenses already priced in, optional $507K value-add creates $2M additional equity

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📍 1340 Hassell Ave, Las Vegas, NV 89106
💰 Price: $2,100,000 ($110,526/unit)
🏠 Units: 18×1BR/1BA + 1×2BR/1BA Duplex, Mobile Home Park
🏦 Stabilized CF: $109,464/yr (18.6% CoC) | Current 60%: -$14,750/yr

60% Occupancy CRITICAL RED FLAG: Only 11-12 of 19 units producing rent, 8 units vacant = deal cash flow NEGATIVE today at -$14,750/year, pro forma reflects stabilized not reality

WHY Are 8 Units Vacant?: Deferred maintenance? Crime? Difficult tenants? Non-functional units? MUST answer before buying, this is not typical 5% vacancy deal

Stabilized Numbers Exceptional: 11.2% cap, 18.6% CoC, 1.87x DCR IF you can fill 8 vacant units, 10-year CoC grows to 31.6% = generational wealth IF stabilized

1956 Vintage Mobile Homes: 70-year-old manufactured housing creates massive capex risk, plumbing/electrical/roofs on ancient units = capex wildfire waiting, park-owned vs tenant-owned CRITICAL distinction

Non-Conforming R-2 Zoning: Grandfathered status means if substantially damaged cannot rebuild as-is, complicates financing some lenders, limits expansion flexibility

$110,526/Unit Las Vegas: Genuinely cheap MHP pricing, even modest appreciation compounds well, BUT paying stabilized price for 60% occupied asset = bad deal structure

Financing Risk MHP: Under 20 units gray zone, some conventional lenders won't touch, may require community bank portfolio loans 20-25yr amortization higher rates crushing cash flow

Value-Add Math IF Stabilized:

Property Tax Likely Increases: $8,000/yr on $2.1M Las Vegas = 0.38%, Clark County reassesses on sale, taxes could jump significantly post-close verify actual

10-Year IF Stabilized: Equity $1.76M, cash flow cumulative $1.5M+, total wealth $3.26M on $588K = 454% return exceptional

Risk Level: HIGH - Buying unstabilized at stabilized pricing, 60% occupancy unexplained, 1956 capex bomb, MHP financing complex, BUT upside real IF execution works

Recommended Strategy: CONDITIONAL - Negotiate $1.75-1.85M reflecting ACTUAL 60% occupancy not pro forma, verify WHY 8 units vacant, confirm financing terms, IF answers good this builds wealth, IF not walk🏛️ Old Town 4-Unit - $939/MO PREMIUM BUILDS $112K/YEAR EQUITY

📍 2282-2284 Congress St, San Diego, CA 92110
💰 Price = Value: $1,900,000 ($475,000/unit)
🏠 Units: 4×1BR/1BA (~390 SF each), Historic Old Town
🏦 Live in 1BR, Rent 3: $9,300/mo STR or $7,500 LTR | Out-of-Pocket: $3,739/mo

📍 3017-3021 E Carey Ave, North Las Vegas, NV 89030
💰 Price: $1,049,999 ($87,500/unit)
🏠 Units: 4 Studios + 8×1BR/1BA, 85% Occupied (2 vacant)
🏦 Current CF: $72,826/yr (24.8% CoC) | Pro Forma: $100,186/yr (34.1%)

24.8% CoC Day 1 Current Rents: $6,069/mo ($72,826/year) on $293,720 invested exceptional, deal cash flows strongly BEFORE capturing below-market rent upside

12.8% Cap Rate Floor: Even with below-market rents in place already 12.8% cap, that's the FLOOR not ceiling, value-add upside pure bonus

Below-Market Rent Upside Clear: Studios $1,100 → $1,300, 1BRs $1,300 → $1,500 = $200/unit × 12 = $2,400/mo ($28,800/year) additional income through normal turnover

2.19 DCR Exceptional Cushion: Could lose 3-4 units to vacancy and still cover debt service, deal not fragile, enormous safety margin

Value-Add No Renovation Required: Just better management and normal lease turnover captures $200+/unit, no construction risk, no permit delays, execution-based not speculative

20.5% Expense Ratio TOO LEAN: No property management, no landscaping, no accounting/legal listed, real-world 12-unit Class C 1978 building runs 30-35% expenses, stress test required

Add Property Management Impact: 8-10% PM adds $14-17K/year, cash flow drops to $58-59K annually (still strong 20% CoC), run own numbers unless definitely self-managing

1978 Vintage 47-Year Building: Roof, HVAC, plumbing (copper vs galvanized?), electrical panels status unknown, capex reserves 5% rent ($8,880/year) may not cover major early need

85% Occupancy 2 Vacant: Why are those units sitting? Condition issues? Deferred maintenance? Or lazy management? Answer matters for execution timeline

North Las Vegas 89030 Class C: Working-class zip code some higher-crime corridors, pull specific crime data for block, understand tenant profile existing renters

1031 Exchange Seller Leverage: Tax-driven deadline creates negotiating power on price/terms if you can close on their schedule, motivated seller advantage

10-Year Wealth: Cash flow cumulative $900K+, equity $882K, total wealth $1.78M on $293K = 507% return (50% annually)

Risk Level: MEDIUM - Expense ratio needs stress-testing, 1978 capex unknowns, Class C North Vegas management, but 24.8% current CoC plus value-add upside strong

Recommended Strategy: BUY subject to full building inspection and rent roll verification, 12.8% cap BEFORE value-add plus 2.19x DCR creates safety, $87,500/unit well-priced Las Vegas

📍 4219 Sherwood Ct, Concord, CA 94521
💰 Purchase: $775,000 (listed $740K) | ARV: $1,090,000
🏠 4BR/2BA, 2,478 SF on Cul-de-Sac
🏦 Profit: $93,189 (72% ROI) | Hold: 4 months

$194K Gross Spread Strong: $1,090K ARV - $775K purchase - $121K rehab = $194K before carry/closing, real spread Bay Area flip, wide enough absorb modest overruns

Low Cash-In Bay Area: $100,750 controls $1.09M ARV asset exceptional capital efficiency, hard money terms doing real work, 91.4% loan-to-cost

Cul-de-Sac Location Premium: Family-oriented cul-de-sacs Concord sell faster stronger prices than through-traffic streets, real marketing advantage at sale

4-Month Timeline Realistic: Renovated 4/2 on cul-de-sac priced well $1.09M should not sit, Concord market moves for quality product

Even 8-Month Still Profitable: Deal has $64K+ cushion if everything takes twice as long, $7,128/mo carry but not fragile flip, 6-8 month scenario still works

$48.80/SF Rehab Budget CRITICAL: This is cosmetic-to-light renovation number (kitchen refresh, bath update, paint, flooring, curb appeal), NOT gut rehab, if needs electrical/plumbing/HVAC/roof this budget BREAKS

Scope Validation Everything: "TLC needed" could mean paint-and-floors OR surprise systems replacement, contractor must walk property before offer validate $121K scope matches reality

ARV $439/SF Defensible: Concord renovated SFRs quiet streets trading $420-480/SF recent comps, $440 target middle range not aggressive, right place to be

70% Rule Violation: 70% of $1,090K = $763K - $121K rehab = max $642K purchase, buying at $775K above strict rule BUT Bay Area flippers operate 75-78% competitive markets consistently

Holding Costs Incomplete Model: Shows $0 insurance/property taxes/utilities during hold, California property taxes $775K = ~$8K/yr, insurance/utilities vacant add $2-3K, real holding costs $32-34K at 4 months trims profit to $88-90K

Buyer Competition Risk Primary: Primary buyers can go higher since don't need profit baked in, if goes $810-820K investor math gets squeezed, know walk-away number before heat

Permit Timeline Risk Bay Area: If any scope requires permits (structural, electrical, plumbing), Concord permit office can blow 4-month timeline to 7-8 months, know what requires permits before start

Risk Level: MEDIUM-HIGH - Scope validation critical, going over ask competitive market, permit delays possible, carrying costs underestimated, but spread real if execution clean

Recommended Strategy: CONDITIONAL BUY - Full inspection before offer, itemized scope of work with contractor validates $121K, pull 6-month sold comps renovated 4BR 94521 verify $1.09M ARV holds, determine walk-away price before competitive offers