The Opportunity
A package deal — two houses, one seller
We bought two properties from the same owner in one transaction: a 2,150 sq ft single-family home with a 1940s-vintage 2-bedroom secondary unit on the same lot, plus a separate 825 sq ft single-family home nearby.
All in, the package came to $250,000 — with two very different rental strategies waiting inside it.
What We Did
One long-term tenant, one short-term rental
Acquired both properties from the same seller for $250K combined
Completed a light rehab on the main house and the secondary unit
Leased the 2,150 sq ft main house as a long-term rental averaging $2,150/mo
Positioned the 1940s-vintage secondary unit as a short-term rental
Captured high STR occupancy serving Fallon's military-adjacent temporary housing demand
Now generating $58,983 in effective gross income and $37,443 in NOI
The Result
One lot, two income streams
A long-term tenant in the main house and a high-occupancy short-term rental next door — together generating real cash flow on a $250K basis.
2
Properties bought from one seller for $250K
$59K
Effective gross income annually
$37.4K
Annual NOI
$425K
Current value
Have a property that's underperforming?
S East St started as a package deal with two very different rental strategies inside it. If you own real estate that isn't living up to its potential — or you want to invest alongside deals like this — let's talk.