Your main competition is the dorms and the apartments on the north side but housing in general is still sparse for college students.

Pre-covid time were different, there was less competition so the occupancy was high for sure.

I think another element, especially in major cities, will be an attempt to lure tenants through better amenities, competitive rents, and employee-incentives. 

There is some institutional interest there as well, just something to keep in mind from a competitive standpoint.

Or if it was offered in the competition because that might be a deal breaker for some people if it's not there.

Also, our proximity to D.C. is causing double-digit appreciation, and still a very competitive market. 

At 4.5 stars, you are really hurting in a very competitive market so you might consider redoing the pics, more themed kids bedrooms and start over.

I see buyers getting surprised by this often when buying older buildings.The more time you give an agent to quote the better the chances of getting a competitive rate - a lot of buyers start calling agents when they are going to close and want it NOW NOW NOW> you will pay more this way.Give the insurance agent a week or two to shop the rate and get the agent accurate documentation proving the age of updates to the roof, electrical, plumbing, hvac, etc and good photos of the property to allow them to sell the property to underwriting.A lot of people don't realize two sales are made for an insurance policy - one to underwriting and one to the person buying the policy.

One key lesson from the Grapevine Dr deal was the importance of swift decision-making in a competitive market.

The investor may have access to lower rate/fees Hard Money; to be a more competitive buyer with little to no contingencies; property may be need to be rehabbed and after adding value may be doing a cash out refinance down the road.