Council Post: Assessing Multifamily Deals: Why A Market Report Doesn't Always Give You The Full Picture​

Ken Lundin, multifamily investor and founder of RevHeat Sales and Growth Consultancy, argues that market reports can miss what’s happening at the property level. He recalls relying on a “comp set” that looked capped due to heavy competing supply within half a mile, without touring units. On site, he says a tier-one property—built quickly in 2010–2012 to house an oil crew—showed cracked pavement, a lean leasing office, and reviews citing slower maintenance and limited unit work. Half a mile away, a tier-two property built from 2014 had better maintained grounds and more family-oriented layouts, with renters paying higher rents. He cites district enrollment growth, shifting demographics, and fewer month-to-month rentals as changes that blending comps can hide.