April Newsletter 2025
- Jarom A Pratt
- Apr 15
- 4 min read
Updated: Apr 17
Welcome!
March was all about momentum—from touring deals in Columbus to expanding into new markets, we’re laying the groundwork for a strong 2025. The market is shifting, and we’re positioning ourselves (and our investors) to capitalize.
Let’s dive into what’s new at EagleCap 👇
Summary
What was new at EagleCap in March? And Why It Matters:
Tax Changes & Market Shifts: Proposed tax cuts could boost renter cash flow and investor returns, while rising tariffs may slow new supply—creating a strong setup for multifamily in 2025.
Investor Opportunities: We’ve solidified our presence in Columbus, submitted multiple offers, and are now expanding into Dallas, Houston, and Boise to increase deal flow and bring only the best opportunities to our investors.
Deal Activity: We are getting a steady flow of potential deals from Ohio and even put in an offer on a 24-unit townhome community.
Multifamily Market Update
The multifamily market continues to evolve—and right now, it’s starting to look a lot like 2012. That’s good news for investors who are prepared.
A Recession-Era Opportunity? According to BiggerPockets, multifamily real estate is flashing signs of a once-in-a-decade buying window, much like the post-2008 rebound. Distressed assets, reduced pricing, and motivated sellers are creating opportunities for patient, well-positioned investors.
Tax Changes Could Shake Things Up
The current administration is floating major tax reforms being branded as the “Largest Tax Cut in History for Middle-Class Working Americans.” This would directly impact renters and real estate investors alike:
No tax on tips, overtime, or Social Security
Restoration of 2017 Trump Tax Cuts, including bonus depreciation for investors
Estimated $490B+ in taxpayer savings annually
More cash in renters’ pockets could mean lower delinquency, while bonus depreciation could boost investor cash flow—a win-win for multifamily.
Tariffs & Inflation—A Double-Edged Sword
Proposed tariffs on imports could raise construction costs and slow new apartment supply, pushing demand toward existing properties. But more consumer spending could fuel inflation and delay rate cuts from the Fed, keeping financing costs high.
Long-Term Outlook
If owners can control expenses and push rents, the current conditions could lead to a strong rebound in multifamily NOI and valuations over the next 12–24 months.
Don’t let the shifting landscape catch you off guard—chat with our team to discuss what these changes could mean for your investments.
Investor Opportunities
In March, we hit the ground in Columbus and Dayton, Ohio, touring dozens of properties and meeting with our property manager who oversees nearly 2,000 units in the region. That trip gave us a clear understanding of which neighborhoods align with our investment criteria—and we’re now fully positioned in the Ohio market.
Our team is actively sourcing deals, screening opportunities that meet our initial criteria, and sending them through for underwriting.
We’ve submitted multiple offers in Columbus, though nothing has been accepted yet.
Now that we’ve built a strong presence in Ohio, we’re expanding our acquisition efforts into additional high-growth markets:
Dallas
Houston
Boise
Our goal is not to chase every deal—we’re committed to bringing our investors only the best opportunities, not just what happens to be available.
If you’d like to explore investing alongside us in these markets, let’s talk!
Deal Activity
Potential New Deals
As part of our deep dive into the Columbus market, we’ve slightly expanded our acquisition criteria—now considering 20+ unit properties instead of just 50+. This adjustment opens the door to more opportunities while still keeping our objective of acquiring 100+ units in 2025.
One standout opportunity was a 24-unit townhome property with minimal rehab needs and strong upside potential. We submitted an offer, but the seller accepted a very rare all-cash, non-contingent, offer from another buyer.
While we didn’t land this one, we’re actively underwriting more deals and are ready to move on to the right opportunity. We’re also expanding into additional markets—so stay tuned for increased deal flow and new investment opportunities in the coming months.
Pendleton 33-Unit (Stone Ridge)
Big milestone—our first unit is rented! 🎉
We’ve been seriously impressed with our property manager so far. They’ve taken the initiative with:
A landscaping design,
Creative marketing strategies, and
Even launching a dedicated property website (check it out here!)
We’re leaning into the building’s history as a repurposed U.S. Forest Service facility in our branding. A few fun examples:
We left original details like a pink elevator door frame as an “Easter egg” in one unit.
We framed and will hang original 2’x3’ architectural plans from the 60s–80s in the clubhouse, showing where rooms like engineering, security, and bathrooms once were. Now residents can see if their apartment used to be the old breakroom or… bathroom! 😄
Have creative ideas for using or displaying the extra plans? We’d love to hear them.
Hermiston 17-Unit (The Avenues)
Renovations continue at a steady pace:
We just completed one-bedroom and two-bedroom units, with a new move-in and a current tenant shifting units—boosting occupancy and keeping momentum going.
Next up: renovating the now-vacant two-bedroom unit.
We’re also working smarter to reduce costs while keeping the quality high:
Instead of replacing all of the kitchen cabinets, we’ve been modifying the originals—adding trim to create shaker-style doors, plus gray lower cabinets for a fresh, modern look.
Outside, we’ve started prep for major improvements:
We shot grade on the parking lot to plan new drainage, with a gravel delivery scheduled next week and potential drainage upgrades in the works.
Warmer weather = time to caulk siding and prep for paint—we’re hoping to start painting in the next couple of weeks.
We also had one unexpected hiccup. . .
During an insurance inspection, we discovered someone had started a campfire just 5 feet from a building, for cooking. 😬
We quickly identified the resident, explained the safety concerns, and got full cooperation—no more fires, and no issues in the inspector’s report.
Never a dull moment—but we’re staying on top of it all.
Looking Ahead
Curious about multifamily investing or want to get more involved this year?
Chat with us to talk through your goals
Visit our website to learn more: eaglecapinvesting.com
Or share this newsletter with a friend who’s interested in building wealth through real estate
More opportunities are coming soon—so stay tuned!
Cheers,
The EagleCap Team
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