SFR Acquisition #26 – 9153 Prest; An Acquisition for $20,000 With A Great Renter in A Highly Desirable Neighborhood

SFR acquisitions

Investment Summary:

Sometimes deals are too good to be true, and sometimes they are real.

This property was purchased for $20,000 on 2025-03-28 with a good renter who agreed to increase their rent from the $800 they were paying before closing. We factored in $20,000 as CapEx because there are some exterior repairs such as the roof that the house could benefit from. However, after half a year, we have not needed those repairs yet.

After closing, the rents were raised to $900. Pending property tax hikes following ownership change, the initial cash-on-cash returns have started at an astounding 33% based on the original purchase price alone. A purchase price of $20,000 to a valuation of $60,000 is 200% equity growth.

Zestimate is at $110,500 in September 2025; however, we did not do any work on the property after acquisition, so to compare it to nearby fully fixed-up homes would not be realistic.

It is also worth mentioning that this is our second acquisition on Prest Street.  See details on 16234 Prest Street.  16234 Prest is 10 minutes to the north from this property.

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SFR Acquisition #25 – 15765 Ward; How To Turn $5,000 Into $100,000

SFR acquisitions

Investment Summary:

 

We closed on this property on 2025-03-18. This is our second acquisition on Ward, See details for our first, 16502 Ward.

The property needed a full rehabilitation, and as always, we had an accurate repair quote before closing; $75,000. The construction team did not surpass it. The property’s Zestimate is now $117,100 (September 2025).

By our own valuation, a conservative $100,000 is well supported by nearby sales records pulled by our veteran realtors. The estimated equity growth is 25%.

The property was rented on 2025-08-04, in 5 months, for $1,200, making making the starting return on capital, or cash-on-cash above 13% subject to upcoming new tax rates.

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SFR Acquisition #24 – 15832 Prevost, Vetting Existing Tenants is Our Favorite Game

SFR acquisitions

Investment Summary:

 

Subject Property had a tenant that was vetted by our property manager prior to purchase.  The initial Cash-on-Cash returns subject to property tax revision next year is projected at a highly respectable 10.8%.  The acquisitions team places the sitting equity to be around 40% as-is.

This is a home-run by all accounts; however, there are qualifications to be mindful of. The difference in the internals of rented properties cannot be factored in as precisely as we would like when compared to nearby sales.

Even though the nearby sales support a value in the $130,000–$150,000 range once the property is cleaned up, the underwriting team recognizes that this equity is subject to how the tenant will leave the condition of the property.

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SFR Acquisition #23 – 18445 Steel, An All-Around Winner in Our Favorite Block, With a Cash-On-Cash Return Starting at 13.7%

SFR acquisitions

Investment Summary:

This sits on one of our focal concentrated areas, very close to our other successful acquisitions such as 16725 Murray Hill, 18239 St. Marys, and 18951 Lauder.

18445 Steel also outperformed all of our original underwriting expectations.

The property was purchased on 2025-02-19, and was leased up by 2025-06-25, in 4 months, at half the rate of the 6 to 9 months underwritten for all of our vacant acquisitions. Upon repair completion, the property was given 30% equity growth by our conservative standards.  Zillow has given more, with its Zestimate of $143,000 as of September 2025,  suggesting a 65% increase over the project’s actual total budget. The final CapEx came in lower than originally underwritten, at $22,545.  The rent projection of $1,250 was also easily surpassed at $1,320.

Its simple Return on Capital, or Cash on Cash expectations for the first year, is projected to be over 13% (unadjusted for a tax hike to follow ownership change).

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