SFR Acquisition #43 – 12/29 Pack: 38% Equity, Stabilized Tenant with Immediate Cash Flow on 15736 Appoline!

Investment Summary

This property is part of the 29 Pack Portfolio acquired in 2025, where standardized pricing allowed the fund to secure cash-flowing assets at an attractive basis.

15736 Appoline is currently performing at approximately $900 monthly rent, with underwriting assumptions supporting stable cash flow of roughly $398 per month. While returns are more conservative relative to some assets in the portfolio, the deal benefits from a low basis and consistent income.

This property was acquired with a strong equity position of 38%. The tighter cash flow profile is primarily driven by higher taxes, which creates a tradeoff between strong equity and yield, but still supports a solid overall investment case.

Property & Condition Overview

The property is a 3-bedroom, 2-bath single-family home with approximately 1,492 square feet of living space.

It sits on a solid brick block and features a larger-than-average layout, including a colonial-style design with additional living space off the back. The home includes a 2-car garage and full bathrooms on both levels.

Location & Accessibility

• 4 minutes from a nearby CVS
• 10 minutes from DMC Sinai-Grace Hospital
• Surrounded by markets such as Greenfield Market and multiple restaurants within a 5 minute drive

The property benefits from a convenient and well-supported location, supporting tenant demand and long-term occupancy stability.

Valuation & Market Position

• Zillow Estimate: $86,500
• Internal Valuation: $86,300
• Equity Capture: 38%

The property benefits from a favorable basis relative to surrounding market values, reinforcing both downside protection and long-term upside potential.

Comparable Sales

1. 15896 Hartwell Street sold for $138,000
2. 15838 Hartwell Street sold for $158,000

These comparable nearby sales further support the valuation. Overall, Appoline represents a balanced investment with strong equity, stable income, and long-term appreciation potential despite a tighter cash flow profile.