The multifamily real estate market is gaining momentum as we close out 2024, driven by easing financial conditions and attractive cap rates, according to Marcus & Millichap's Q3 report.Cap rates have surged to an average of 5.8% between July 2023 and June 2024, marking a 110-basis-point increase from 2022's low and the highest level since 2014.

The market cap of BTC is $0.3T.

What would be the impact on the business value at say a 7% CAP? 

So your cash flow is decent, but after you’ve had a few turnovers after 10 years and have had some cap ex expenses, you’ve broken even or gained very little since the home hasn’t gone up in value much.

However, this year it was crazy with the cap. expenses. 

KowalIf this is true a sound strategy is to get bonus depreciation to get as much loss as possible (which gets to reduce my pension income) and as much sec1231 gain (which becomes cap gain)

The reason this works well and is permitted in my building is because I live here, so my guests technically become 'roommates' while they stay with me.The one BIG caveat I would share with your vision is to make sure management / your HOA doesn't have a rental restriction that stipulates rental minimums / %s / caps / durations / etc.

We have a cap on the # of STR permits you can get. 

My go/no-go was break even (net 0 cash flow) under the following assumptions: 50% occupied at market rent (based on comparable properties) including 15% of gross rents to maintenance/cap-ex (at 100% occupancy) and utility costs.

Yes new builds are turnkey and better for maintenance/cap ex costs but it's more expensive and moving parts to building.