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Dealsletter Issue #25: House Hacks & Long-Term Rentals Across SoCal, Midwest, and Florida
Unlock versatile investment opportunities with house hacks that double as long-term rentals, from Southern California to the Midwest and Florida.
Kevin
August 19, 2024
In partnership with
Hello Investors,
Welcome to Dealsletter Issue #25! In this issue, we've got some awesome opportunities for first-time investors and seasoned pros looking for easy deals to boost that cash flow. You can use these for house hacking or long-term rentals. We're covering multiple areas in this issue, including two spots in SoCal, a look at the Midwest, and wrapping up in Florida. We're on the hunt to find you the best deals out there!
🏠 Share the Love: If you're enjoying the insights and deals, why not spread the word? Forward this newsletter to friends and fellow investors. Don't let them miss out on these golden opportunities!
🚨 Note on Numbers: We base our insights on a 25% down payment(unless stated otherwise) and the current interest rate of 6.56%. Rest assured, we've crunched the numbers so you can focus on the core — the deals.
👉🏼 Stay up to date: What’s the latest on mortgage rates?
📈 The Stats: Each listing comes with detailed investment metrics like cap rates, GRM, and special financing options where available.
This Weeks Deals 🏘️
Multi-Family in San Diego, CA
Property: 61st, 11 Units
Cap Rate: 7.2%
House Hack in Chula Vista, CA
Property: G st, 3 Units
Cap Rate: 4.9%
Multi-Family in Tampa, FL
Property: Lake Ave, 4 Units
Cap Rate: 7.4%
House Hack / Multi-Family in Independence, MO
Property: Oxford Ave, 2 Units
Cap Rate: 4.8% /
Multi-Family
$2,000,000
11 Unit Apartment / (1) 2 Bed, 1 Bath / (5) 1 Bed, 1 Bath, (5) Studios
Why this is a good investment 👉🏼 : The property at 711 61st Street is an awesome multifamily investment. It's got a huge lot size of 15,799 square feet and a bunch of renovated units that can start bringing in rental income right away. With 13 parking spaces and onsite laundry, tenants will have all the conveniences they need. Plus, it's located in the up-and-coming Encanto neighborhood, so you can count on both current value and future appreciation.
The Stats 📝
Cap Rate: 7.2%
Monthly Revenue(Pro Forma): $17,150
Total Annual Operating Expenses: $55,380
NOI: $7553
GRM: 9.7
Cash Flow: STRONG
Cash on Cash Return: 7.6%
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House Hack
$1,089,000
3 Units / (1) 2 Bed, 1 Bath / (1) 1 Bed, 1 Bath / (1) Studio
Why this is a good investment 👉🏼 : This is a great chance to own a 3-unit triplex in the heart of San Diego County, right in Chula Vista. You can rent out the 2-bedroom and 1-bedroom units and live in the studio, making your mortgage super affordable while enjoying some long-term appreciation and tax deductions. It's an awesome opportunity to dip your toes into real estate investing and could easily boost your real estate game in just 1-2 years with appreciation, pulling out a HELOC, and more.
The Stats 📝
Cap Rate: 4.9%
Gross Revenue: $5200/mo
Operating Expenses: $720/mo
NOI: $4480
Effective Mortage: $2404/mo
House Hack Setup: Live in the studio and rent out the 2 bedroom, and 1 bedroom Unit.
Multi-Family
$645,000
Unit Mix of (3) 1 Bed / 1 Bath, (1) Studio
Why this is a good investment 👉🏼 : This multi-family in Tampa is a great 4-unit complex, perfect for a new investor's first multi-family property or a seasoned investor looking to capitalize on an already cash-flowing asset. With current rent rolls in place, this unit is generating cash flow and has strong potential for even more with higher rents. Plus, the property enjoys low operating expenses as it stands.
The Stats 📝
Cap Rate: 7.4%
Current Monthly Revenue: $5380
NOI: $3992
Cash Flow: STRONG with current rent roll
GRM: 9.99
House Hack OR Long Term Rental
$219,900
2 Units: 2 Bed / 1 Bath
Why this is a good investment 👉🏼 : Well-maintained and affordable duplex in Jackson County, MO. This place is a great opportunity for first-time investors looking to get into real estate. You can easily use it as a house hack to make your mortgage super cheap. If that's not your thing, this property has strong cash flow right from the start as an investment property! Check it out.
The Stats w/ 5% down (House Hack) 📝
Cash Needed: $17,592
Gross Rent: $1100/mo
Operating Income: $990
NOI: $880
Effective Mortage after all expenses: $510/mo
Cap Rate: 4.8%
The Stats(Fully Rented @ 25% Down) 📝
Monthly Revenue: $2200/mo
Operating Expenses: $220/mo
NOI: $1760
Cap Rate: 9.6%
Cash Flow: STRONG
Year 1 Cash on Cash: 11.9%
What’s Brewing at Dealsetter ☕️
Extended Listings: Discover exclusive properties that aren't listed elsewhere.
ROI Deep Dive: Understand the financials in-depth — from cash flow to occupancy rates.
Yearly Projections: Make informed decisions with our smart investment forecasts.
Buy & Hold Analytics: Get the long-term metrics essential for sustained growth.
Your Voice, Our Action: Your feedback is our guiding star. Keep the suggestions coming!
A Big Thank You! 🙌
We're immensely grateful for our early subscribers. Your trust and engagement are the fuel that drives Dealsletter. We promise to keep delivering top-notch real estate insights and deals.
Until next time,
The Dealsletter Team