It is no secrete that recent property listings and price of said listings are not meeting the buying power of these areas.

High interest rates are causing price corrections in specific markets across the USA that saw massive growth and transaction volume in 2020/2021 due to low interest rates.

Hey BP,I am looking at 5-plex opportunity deal and was hoping for a little insight on cap rates there.The property located in 35204 zip code.Does anyone happen to know what average cap rates are at right now in that area?

Hey BP, I am looking at 5-plex opportunity deal and was hoping for a little insight on cap rates there.The property located in  35204 zip code.

Of course, depending on where you want the rental property to be located at, the price will vary.

You also are over the 1 million mental price point.

Purchase price: $177,000 Cash invested: $68,000

Definitely try calling them and asking for the commercial lending department.Nice on the $650k valuation, prices definitely have appreciated sharply over the past few years!

Rates ticked down the most in a week for 2024, last week so sounds a hair high..we just priced a DSCR purchase for 5+ units just below that..Check in with @Joseph Chiofalo for a quick quote.

Sounds like a great opportunity to introduce myself and meet more investors.