Sure, there are plenty of ways to find multi unit properties for sale this year. You can drive around looking for “For Sale” signs to find rental properties for sale. You can directly visit any number of real estate listing sites and browse hundreds, if not thousands of multi family homes for sale across the US housing market. Or, you can just Google “multi family homes for sale near me,” “rental properties for sale near me,” or “rental properties near me for sale” and fall down the rabbit hole of listings across different websites.
But what’s the absolute best way to find multi unit properties for sale? I can tell you right now, it’s none of the above-listed ways. Why? Because, with those investment property search methods, all a real estate investor will ever get is basic listing information like listing price, square foot, number of bedrooms/bathrooms, etc. But you’re not buying a home to live in – you’re buying multi family homes for investment and you need so much more than this.
So, What Is the Best Way to Find Multi Unit Properties for Sale?
The best way how to find multi unit properties for sale in the US housing market is by using online real estate investment tools. Such tools will help you perform a complete and thorough multi family real estate investment analysis.
Because that’s what you really need as a multi family real estate investor. You need a quick and easy way to analyze multi family homes to determine if they make for a good real estate investment or not.
There are a few online real estate tools that every multi family investor should be using instead of scouring the entire internet to learn how to find rental properties for sale:
- Real Estate Heatmap
- Rental Property Finder
- Multi Family Investment Calculator
- Off Market Property Marketplace
Let’s take a look at these real estate investment tools and how to find multi unit properties for sale or rental properties for sale near me using each one.
Just one last note before you dive into these career-changing real estate investment tools.
Our focus today is on finding small multi family homes for sale – those with 2-4 units. duplexes, triplexes, and fourplexes. Why? Because these multi family properties offer one clear advantage for the savvy real estate investor: They can be financed using FHA loans with a down payment as low as 3.5%. Of course, you would need to live in one unit and rent out the rest. This residential real estate investment strategy is known as house hacking.
While it may not sound appealing to the average person, those with a business mindset see a world of possibility – to live rent-free (and mortgage-free), save up money, buy multiple rental properties, and eventually move out after the allotted time.
But, if house hacking is not your strategy of choice, small multi family homes for sale are still more affordable than larger multi unit apartment buildings and are just simply a great way to kick off your real estate career. Now, onto the tools that will help you do that.
Watch our video below to find out helpful real estate tax exclusions related to multi family properties:
The 4 Best Multi Family Investment Property Search Tools
Did you know that all of these tools can be found here at Mashvisor? Follow along with the steps on how to use each one by signing up now. That way, after this short read, you will have found the best multi unit property.
1. Real Estate Heatmap
Do you have a city in mind for multi family real estate investing? (If not, check out the following article: How to Find Multi Family Homes for Sale Near Me: The Investor’s Guide).
Well, that’s only step 1 of choosing a location for buying multi family property or other rental properties for sale near me. Within that city, you need to know exactly where to find multi unit properties for sale that are going to give you the highest return on investment. And that’s where the real estate heatmap comes in. Here’s how it works:
Type in the city of your choice and hit the Explore Data button in the top left corner of the map.
From there, you’ll be given the option to set 6 different investment property search filters:
- Listing Price
- Airbnb Cash on Cash Return
- Traditional Cash on Cash Return
- Airbnb Rental Income
- Traditional Rental Income
- Airbnb Occupancy Rate
Start with the Listing Price filter. It will highlight all of the neighborhoods in the city with investment properties for sale based on listing price. Those with affordable properties for sale will be colored in red and those on the more expensive side, green. Take note of the neighborhoods that fit your budget for buying multi family homes or other rental properties for sale.
Next, play around with the other search filters, one by one. For the rest, you’ll want to take note of neighborhoods that are highlighted in green. These will be the locations with the highest cash on cash return, rental income, and Airbnb occupancy rate.
With that, you will have found the best neighborhood to start your search for multi unit properties for sale! You will have completed the crucial first step of finding income properties (in minutes) and that’s a neighborhood analysis.
2. Rental Property Finder
I know what you really want when looking for investment property for sale and that’s high cap rate multi family real estate. While other factors come into play and a high cap rate isn’t always better, it is a good place to start.
- Location (search in up to 5 cities at once)
- Miles from the city
- Rental Strategy (Airbnb vs Traditional)
- Type of Investment Property for Sale (you’ll want to choose multi family home)
- Number of Bedrooms and Bathrooms
Once a multi family investor sets these filters, the AI works to bring back results. But these aren’t just multi family real estate listings – they are high cap rate properties for sale. They are the best performing multi family homes in that real estate market. The rental property finder basically hands you the best multi family real estate investments available on a platter with little to no effort on your part.
3. Multi Family Investment Calculator
Once you do find an appealing multi family property, your search shouldn’t stop there. You do have to perform a multi family real estate investment analysis. For this, there is no better tool than the multi family investment calculator.
With this tool, you can analyze a number of multi unit properties for sale or rental properties for sale in a few minutes. Click on any listing on Mashvisor and you’ll be taken to the Property Analysis Page. While this page is full of neat stuff to help you make a good investment choice, the best part is the calculator. It looks like this:
As you can see, the multi family investment calculator provides the following metrics that are key to analyzing multi unit properties for sale or rental properties for sale near me:
- Rental Income
- Monthly Expense Estimates
- Cash Flow
- Cash on Cash Return
- Cap Rate
- Occupancy Rate
These numbers are provided for both rental strategies for comparison and are based on real estate analytics and data of local rental comps in the area.
You also have a mortgage calculator to help you see your real estate cash on cash return based on your multi family financing. You can plug in your:
- Down Payment on Rental Property
- Loan Type
- Loan Amount
- Interest Rate
- Loan Term
And the return on investment will be adjusted to match these. This way, you can ensure you have the best multi family financing to get you the highest cash on cash return with that specific property.
Because the multi family investment calculator is interactive, you will also be able to adjust or even add any rental property expenses you see fit. This will change the cash flow projections for the multi family rental properties for sale or other types of rental properties for sale.
The tool will also provide multi family comps to help you ensure you pay the right price through comparative market analysis.
And just like that, multi family real estate investment analysis is complete. You can either get started with buying this multi unit property or keep looking for one that offers better returns.
4. Off Market Property Marketplace
I haven’t met a beginner or experienced real estate investor who doesn’t covet off market properties. That’s why Mashvisor has created the Property Marketplace- a place where you can easily find and analyze off market properties for sale. The Marketplace gives you access to a large supply of off market real estate listings from different sources, including foreclosures, short sales, and even tenant-occupied rental properties so you can start earning cash flow instantly.
All you have to do is set the filters:
- Distance from the Location
- Rental Strategy
- Type of Property (select off market multi family for sale)
- Number of Bedrooms and Bathrooms
- Cash on Cash Return
- Cap Rate
- Listing Type (Non-MLS, Foreclosures, Needs Repair, Tenant Occupied)
Once you do that, the AI will return the best off market multi family for sale in the housing market of your choice. And with the Mashvisor Property Marketplace, you can access the multi family investment calculator to analyze the income property further. Buying multi unit properties for sale off market has never been so easy.
The Next Step
At this point in your investment property search, you’ll have found the ideal rental income properties for sale for investing in multi unit rental properties for sale. Now, you’ll want to:
- Finalize your multi family financing
- Hire a real estate agent or realtor to help you close the multi family deal
- Make an offer to the seller
If you did your real estate market research well and chose one of the best multi family investment markets, you’ll find tenants in no time (with the right marketing strategy, of course). You’ll be well on your way to making money with multi family investing.
It all starts with the right real estate investment tools. Take the first step now and sign up for a 7-day free trial with Mashvisor.