7% of U.S. apartments are sitting dark—the highest vacancy rate since 2011, and it just flipped the power to buyers. Zero in on buildings that earned their certificate of occupancy after September 2024 and are still at least 10 % empty. Builders would rather cut prices than watch another month of lost rent. What we’re seeing at the closing table this spring: • 3–6 % price drops that erase your first year of interest • HOA fees paid through 2025 • Three months of professional management included
Run your pro-forma with a 10 % vacancy buffer, bake every concession into cash flow, then lock a rate before the Fed’s next cut. Capture the discount today and your IRR can jump 12–14 % by year three—even if rents tread water.
Want the list of new builds still negotiating? DM me the word VACANCY.
#Multifamily #RealEstateInvesting #MarketShift #CashFlow
