Single Family Rental Financing (vs Multifamily)
Been reading some white papers on this asset class but not able to find any data on i) agency financing for SFR (is there a freddie UW guide?), and ii) exit cap rates for SFR compared to traditional multi-family? Thank you so much for any insights and help.
i) What kind of data are you looking for? For single-unit investments it's going to look very similar to a traditional loan, just a higher downpayment (I got a quote the other day for 25% down at 3.25%)
ii) exit cap rates vary wildly, but in general I would expect them to be 50-100bps higher than a comparable multifamily property (location, vintage, finish level, etc.) on an individual basis though YMMV.
I'd check out roofstock.com, which has a good amount of inventory for investment properties. You'll probably need to figure out expenses yourself, but that will give you a good idea on the revenue side.
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