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📈 Check out our new property analysis accuracy down below 👇🏼
Welcome to this edition of Dealsletter! We're excited to introduce a new feature: at the end of every newsletter, you'll now find a "Grok-4 Analysis on Accuracy of All Data" section, where we've leveraged Grok-4 from xAI to independently verify and estimate the accuracy of all property details, financials, and market data presented. This ensures the information we deliver is true, reliable, and trustworthy for our readers, because your investment decisions deserve nothing less. Dive in below for the latest deals!
East Las Vegas 4-Plex - IMMEDIATE $400/MONTH UNIT 1 INCREASE
📍 Address: 2305 Exeter Dr, Las Vegas, NV 89156
💰 Price: $640,000 ($160K/unit) | Target: $610,000
🏠 Property: 4 Units (All 2BR/2BA), 4,172 SF, Built 1983
🏦 At $610K: 12.54% CoC Year 2 | 21.2% IRR | At Ask: 10.96% CoC, 21.2% IRR
Why This is a Great Investment:
East Las Vegas 4-plex offering immediate value-add through severely below-market Unit 1 on month-to-month lease at $950 versus $1,350 market rate. With all identical 2BR/2BA units (1,043 SF each), remaining three units at $1,095/month also sit $255 below market creating systematic $13,980 annual upside through natural lease renewals. At $640K with self-management eliminating $5,568 annual management fees from OM, property delivers cleaned 6.69% current cap with Year 2 stabilized 10.96% cash-on-cash and 21.2% IRR over five years.
This represents simple execution value-add requiring only rent increases at lease expiration versus renovation capital or complex repositioning.
Investment Analysis (25% Down) 📝
Investment Metrics | |
|---|---|
Purchase Price | $640,000 |
Down Payment (25%) | $160,000 |
Closing Costs | $12,800 |
Total Cash Required | $172,800 |
Current NOI (cleaned) | $42,834 |
Year 1 CF (Unit 1 raised) | $10,278 |
Year 1 CoC | 5.95% |
Current vs Market Rents 🚀
Unit Analysis | |
|---|---|
Unit 1 (month-to-month) | $950/month |
Market Rate | $1,350/month |
Immediate Upside | $400/month ✅ |
Units 2-4 (current) | $1,095/month each |
Market Rate | $1,350/month |
Natural Turnover Upside | $255/month each |
Income Progression | |
|---|---|
Current Annual | $50,820 |
Year 1 (Unit 1 raised) | $55,620 |
Year 2 (all market) | $64,800 |
Total Upside | $13,980/year |
Year 2 Stabilized Performance 📈
Stabilized Returns | |
|---|---|
Annual NOI | $56,300 |
Annual Cash Flow | $18,944 |
Monthly Cash Flow | $1,579 |
Cash-on-Cash | 10.96% |
DSCR | 1.51x |
5-Year Performance (3% Growth) 💰
Year | NOI | Cash Flow | CoC | Cumulative |
|---|---|---|---|---|
Year 1 | $47,634 | $10,278 | 5.95% | $10,278 |
Year 2 | $56,300 | $18,944 | 10.96% | $29,222 |
Year 3 | $58,489 | $21,133 | 12.23% | $50,355 |
Year 4 | $60,743 | $23,387 | 13.53% | $73,742 |
Year 5 | $63,065 | $25,709 | 14.88% | $99,451 |
Exit Strategy & Sensitivity 📊
Sale Analysis (Year 5) | |
|---|---|
Year 5 NOI | $63,065 |
Exit Cap (7.5%) | $840,867 |
Less Costs/Payoff | $491,295 |
Cash at Sale | $349,572 |
Plus 5-Year CF | $99,451 |
Total Profit | $276,223 (160%) |
5-Year IRR | 21.2% |
Purchase | Year 2 CF | CoC | IRR |
|---|---|---|---|
$610,000 | $20,661 | 12.54% | 23.1% |
$625,000 | $19,800 | 12.67% | 22.1% |
$640,000 | $18,944 | 10.96% | 21.2% |
Critical Success Factors:
Unit 1 month-to-month enables immediate $400 increase day one
All identical 2BR/2BA layouts simplify management
Self-management eliminates $5,568 annual fees from OM
Tenants pay all utilities per lease structure
No renovation capital required for value-add execution
Recommended Strategy: Offer $610,000 targeting 23.1% IRR with immediate Unit 1 increase notice upon close
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Stockton Mobile Home Park - $110K UTILITY SUBMETER WINDFALL
📍 Address: 2629 Waterloo Rd, Stockton, CA 95205
💰 Price: $3,720,000 ($82,667/space) | Target: $3,600,000
🏠 Property: 40 MH Spaces + 4 Stick-Built Homes, 2.07 Acres, Built 1973
🏦 Current: 5.81% Cap | Post-Submeter: 10.30% Cap, 16.53% CoC, 31.2% IRR
Why This Requires Lifestyle Premium Assessment:
Stockton mobile home park offering massive value-add through utility submetering where owner currently subsidizes $141K annually in water, sewer, electric, and gas expenses. Installing $40K submeter infrastructure across 44 units eliminates $110K annual utility burden creating immediate NOI increase from $216K to $326K while simultaneously enabling $24K rent increases and $24K vacancy fill. Property features recent infrastructure upgrades (2016-2022) including new asphalt, electrical, underground gas, and house rehabs eliminating major capex concerns.
This represents textbook MHP value-add where single $40K infrastructure investment generates 275% first-year return through utility cost elimination.
Investment Analysis (25% Down) 📝
Investment Metrics | |
|---|---|
Purchase Price | $3,720,000 |
Down Payment (25%) | $930,000 |
Closing Costs | $74,400 |
Total Cash Required | $1,004,400 |
Current T-12 NOI | $216,292 |
Year 1 Cash Flow | $8,008 |
Year 1 CoC | 0.80% |
The Utility Submeter Opportunity 🚀
Current Utility Burden | |
|---|---|
Electric | ~$50,000/year |
Gas | $11,399/year |
Water | $29,366/year |
Sewer | $4,567/year |
Other Utilities | $45,751/year |
Total Annual | $141,083 ❌ |
Submeter Solution | |
|---|---|
Installation Cost | $40,000 |
Annual Savings | $110,000 |
Payback Period | 4.4 months |
First Year ROI | 275% ✅ |
Post Value-Add Performance 💰
Year 2 Stabilized | |
|---|---|
Base Rent Income | $504,016 |
Fill Vacancies | $24,000 |
Raise Rents $50 | $24,000 |
New Gross | $552,016 |
Current Expenses | $278,832 |
MINUS Utility Savings | -$110,000 |
New Expenses | $168,832 |
New NOI | $383,184 |
New Cap Rate | 10.30% 🚀 |
Year 2 Cash Flow | |
|---|---|
NOI | $383,184 |
Debt Service | $217,176 |
Annual CF | $166,008 |
Monthly CF | $13,834 |
Cash-on-Cash | 16.53% |
5-Year Projection (Post Value-Add) 📈
Year | NOI | Cash Flow | CoC | Cumulative |
|---|---|---|---|---|
Year 1 | $225,184 | $8,008 | 0.80% | $8,008 |
Year 2 | $383,184 | $166,008 | 16.53% | $174,016 |
Year 3 | $402,343 | $185,167 | 18.44% | $359,183 |
Year 4 | $422,460 | $205,284 | 20.44% | $564,467 |
Year 5 | $443,583 | $226,407 | 22.54% | $790,874 |
Exit Strategy (Year 5) 📊
Sale Analysis | |
|---|---|
Year 5 NOI | $443,583 |
Exit Cap (7.5%) | $5,914,440 |
Less Costs/Payoff | $2,855,207 |
Cash at Sale | $3,059,233 |
Plus 5-Year CF | $790,874 |
Total Profit | $2,845,707 (283%) |
5-Year IRR | 31.2% 🚀 |
Critical Success Factors:
MUST install submeters Month 1-3 for economics to work
Stockton CA allows utility cost pass-through to tenants
Recent infrastructure upgrades (electrical, gas, paving) completed
MHP sticky tenant model reduces turnover risk
Affordable housing recession-resistant demand profile
Recommended Strategy: Offer $3,600,000 with immediate $40K submeter installation plan execution creating 19.21% Year 2 CoC
