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Issue #47 · Tuesday, Feb 25, 2026

The Deals,
The Data,
The Edge —
Before Market Open.

Cap rates, off-market whispers, and syndication plays distilled into five minutes of reading. For investors running 4–12 doors who want signal, not noise.

12,400+
47
5 min
Today's Briefing PreviewFeb 25, 2026
Brick fourplex in transitional neighborhood, exterior view at golden hour
Deal TeardownDayton, OH — 6-Unit Brick Walk-Up
$312K
7.4%
9.1%
01Phoenix multifamily vacancies tighten to 4.2% — rents lag 6 weeks behind
02Two GP sponsors quietly re-trading at 85¢ on the dollar
03BRRRR math still works in these 8 Midwest zip codes
Full issue unlocks at 6 AM ETSubscribe free →
Cap RatesOff-Market WhispersSyndication PlaysBRRRR AnalysisLP Deal FlowMetro Vacancy DataCash-on-Cash ReturnsMultifamily TrendsValue-Add OpportunitiesRent Growth ForecastsCap RatesOff-Market WhispersSyndication PlaysBRRRR AnalysisLP Deal FlowMetro Vacancy DataCash-on-Cash ReturnsMultifamily TrendsValue-Add OpportunitiesRent Growth Forecasts
Deal Teardown
Six-unit brick walk-up apartment building in Dayton Ohio, street-level view with mature trees
Issue #47 · Deal of the Week

Dayton, OH — 6-Unit Brick Walk-Up

2419 Riverside Dr · Transitional neighborhood, 94% occupied

$312K
Ask Price
~$52K/door
7.4%
Cap Rate
Market avg 5.8%
9.1%
CoC Proj.
Yr 1 stabilized
8.2×
GRM
Below threshold
The Digest Take

Why This One Cleared Our Filter

Dayton's Riverside corridor has absorbed $140M in public infrastructure investment since 2023. This brick walk-up sits 400 meters from the new transit hub — and the current owner is pricing it like 2019.

"The seller wants out by Q2. The cap rate compression story here is 18–24 months, not 5 years."

— Digest Editorial, Feb 25, 2026
Passes 1% rule at current ask
Deferred maintenance priced in — roof 2022
Below-market rents: $180/unit upside
!Flood zone flag: Zone X — verify insurance
Read the Full Teardown
Market Pulse
This Week's Reads

Three metros where the math just shifted.

Every Tuesday we run vacancy, cap rate, and rent growth data across 40 metros. These three cleared our threshold this week — the kind of movement that precedes deal activity by 60–90 days.

PhoenixAZ
Multifamily Vacancy
4.2%
−0.8pp YoY
ColumbusOH
Median Cap Rate
6.9%
+0.4pp YoY
TampaFL
Rent Growth (MoM)
+1.1%
Accelerating
See All 40 Metros
Phoenix,AZ
4.2%
−0.8pp YoY
12 months agoToday
Columbus,OH
6.9%
+0.4pp YoY
12 months agoToday
Tampa,FL
+1.1%
Accelerating
12 months agoToday
Strategy Column
The BRRRR play isn't dead — it just moved 200 miles inland. The investors still winning in 2026 aren't chasing coastal appreciation. They're buying cashflow in cities where a city bus route expansion is the single biggest economic event in a decade.
Marcus WebbContributing Editor, Digest · 14-door portfolio, Columbus OH
From Issue #46

"The Inland Arbitrage: Why Mid-Tier Midwest Still Pencils"

Marcus walks through a live underwrite on a 4-unit in Terre Haute — purchase price $188K, projected monthly cash flow $620, refinance timeline 14 months. Every assumption is visible. No guru math.

$188K
$620
14
Read Full Column

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Aerial view of midwest city grid with residential streets and commercial blocks
#46Feb 18, 2026Unlocked

The Inland Arbitrage

Why Mid-Tier Midwest Still Pencils in 2026

9.4%
Office desk with financial documents, pen, and coffee — due diligence setting
#45Unlocked

GP Sponsor Red Flags

7 due-diligence questions most LPs forget to ask

Phoenix Arizona suburban apartment complex exterior with palm trees and blue sky
#44

Phoenix Vacancy Tightens

4.2% Vacancy
Renovated single family home with fresh paint and new landscaping — after BRRRR rehab
#43

BRRRR Math in 2026

11.2% Best CoC Found
Modern interior of short-term rental property with stylish furnishings and large windows
#42

Short-Term Rental Pullback

Browse All 47 Issues →Issues #44, #45, #46 fully unlocked — no email required
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