Commercial real estate markets are showing signs of stabilization as CBRE’s latest survey reveals most investors believe cap rates have peaked.

Fort Wayne is a good market.

This deal was on market but was overlooked by most investors who either didn't understand section 8 programs, landlord tenants laws, or underestimated the current market rents because the rents in place were so low.

There are still sub-$300k markets out there.

That's a good size area so I would continue to market and figure out which way can convert the best.

I'll give you some numbers for the MTRs we manage in Los Angeles.1-2 bedroom MTRs stays are 1-3 months3+ bedroom MTRs stays are 3-6 months, but often start less than 3 months and extend their stayMTR marketing falls in 2 buckets.

With strong market demand, it sold the same day for $185,000, resulting in a solid profit.

Tenant Default: 0-5% probability of eviction or early lease termination.Section 8: Class A rents are too high and won’t be approved.Vacancies: 5-10%, depending on market conditions.Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Class B Properties:Tenant Pool: Majority of FICO scores 620-680, some blemishes, no convictions/evictions in last 5 years.Tenant Default: 5-10% probability of eviction or early lease termination.Vacancies: 10-15%, depending on market conditions.Cashflow vs Appreciation: Typically, 1-3 years for positive cashflow, balanced amounts of relative rent & value appreciation.Section 8: Class B rents are usually too high for the Section 8 program.Class C Properties:Tenant Pool: Majority of FICO scores 560-620, many blemishes, but should have no convictions/evictions in last 3 years.

My two cents but the ship has sailed for short term rentals in this market.

They are susceptible to the same market forces as any other real estate.