Asking price
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Revenue
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Cash flow (SDE)
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Price to cash flow
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Year established
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Employees
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Under offer
The owner has accepted an offer and is working toward a sale. The listing stays up until that sale closes or falls through, so you can still save it and message the owner.
Single-family and small multifamily rentals for about 230 owners, with management fees billed monthly.
NextOwner Verified
Report NO-2026-000015. Checked by a NextOwner analyst on . The check stands until .
Asking price
$1,150,000
Revenue
$1,200,949
Fiscal year 2025
Cash flow (SDE)
$396,313
Fiscal year 2025
Price to cash flow
2.9x
Asking price divided by 2025 cash flow
Year established
2010
16 years in business
Employees
9
8 full-time, 1 part-time
Cash flow here is seller's discretionary earnings (SDE): the year's profit plus one owner's pay, interest, depreciation and one-off costs, before any loan payments.
Revenue and cash flow by fiscal year. Solid years were matched to filed tax returns by a NextOwner analyst on Aug 26, 2026. Outlined years are as the owner entered them.
Revenue grew 13.4% and cash flow grew 18.8% from fiscal year 2023 to fiscal year 2025.
The same years as the chart. Cash flow is net income plus the lines marked plus. A dash means the owner did not give that line.
| Line | Fiscal year 2023Document checked | Fiscal year 2024Document checked | Fiscal year 2025Document checked | 2026 year to dateSeller stated |
|---|---|---|---|---|
| Revenue | $1,058,851 | $1,122,382 | $1,200,949 | $731,199 |
| Operating expenses | $820,704 | $861,882 | $908,636 | $546,769 |
| Net income | $238,147 | $260,500 | $292,313 | $184,430 |
| Plus owner's pay | $88,000 | $92,000 | $96,000 | $57,800 |
| Plus depreciation | $7,507 | $7,895 | $8,000 | $4,853 |
| Plus other add-backs | $0 | $0 | $0 | $0 |
| Cash flow (SDE) | $333,654 | $360,395 | $396,313 | $247,083 |
How the asking price compares with what similar businesses usually sell for. NextOwner does not value businesses or suggest prices.
2.9xcash flow
Typical for property management: 2.0x to 3.6x
The asking price is within the typical range.
Typical range for similar businesses, from public market reports based on seller-reported sales. A reference, not an appraisal.
1.0xrevenue
Typical for property management: 0.6x to 1.2x
The asking price is within the typical range.
A reference, not an appraisal.
Would a year of this business's cash flow carry a year of payments on a typical acquisition loan? Change the terms to match your situation.
Based on the asking price of $1,150,000 and 2025 cash flow of $396,313Document checked
Debt coverage (DSCR)
1.83x
Cash flow covers the loan payments
After the owner's salary, a year of cash flow is at least 1.25 times a year of loan payments on these terms. That is the cushion lenders commonly look for.
A pre-check from documents we matched, using typical loan terms. A lender makes its own decision.
Purchase price
$1,150,000
In the owner's words.
The company manages about 640 rental homes and apartments for about 230 property owners across the Louisville area, from single investors with one house to owners of small apartment buildings. Management fees are a percentage of rent collected each month, which makes 84% of revenue recurring; leasing and renewal fees make up the rest.
Three property managers, a leasing agent, a maintenance coordinator and an accounting team of three handle the portfolio. Owners receive monthly statements and tenants pay online.
Owner retention has been about 90% a year, and the portfolio has grown mainly through referrals from real estate agents and investor groups.
I would like to retire and focus on my own rental properties.
The company has not marketed to build-to-rent developers or offered association management, both of which come up regularly.
Twelve weeks of handover, including owner introductions and the vendor list.
The circle marks the general area around Louisville, not the address.
What NextOwner checked, against which documents, and when.
Report
NO-2026-000015
Revenue and cash flow for fiscal years 2023 to 2025 were matched to the filed tax returns, and the seller's identity was checked against government photo ID. A NextOwner verification analyst reviewed the file on Aug 26, 2026, and anything marked Seller stated was not checked.
1 of 1 passed
Seller's identity checked against government photo ID
Passed
Photo ID and selfie compared by a member of NextOwner's compliance team in August 2026.
1 of 1 passed
Seller's ownership compared with the filed tax return
Passed
The seller is named as an owner on the filed tax return, and the ownership share they gave agrees with it.
Checked against: Filed tax return
10 of 10 passed
Fiscal years matched to filed tax returns
Passed
Filed tax returns are on file for 2023, 2024 and 2025.
Checked against: 3 filed tax returns
Revenue 2025: seller's figure compared with the filed tax return
Passed
The seller's revenue figure agrees with the filed tax return (Form 1120-S).
Checked against: Filed tax return
Revenue 2025: profit and loss statement compared with the filed tax return
Passed
Revenue on the profit and loss statement agrees with the filed tax return.
Checked against: Filed tax return and profit and loss statement
Cash flow (SDE) 2025: seller's figure compared with the filed tax return
Passed
The seller's cash flow figure agrees with the figure rebuilt from the filed tax return (net income plus one owner's pay, interest, depreciation and amortization).
Checked against: Filed tax return
Revenue 2024: seller's figure compared with the filed tax return
Passed
The seller's revenue figure agrees with the filed tax return (Form 1120-S).
Checked against: Filed tax return
Revenue 2024: profit and loss statement compared with the filed tax return
Passed
Revenue on the profit and loss statement agrees with the filed tax return.
Checked against: Filed tax return and profit and loss statement
Cash flow (SDE) 2024: seller's figure compared with the filed tax return
Passed
The seller's cash flow figure agrees with the figure rebuilt from the filed tax return (net income plus one owner's pay, interest, depreciation and amortization).
Checked against: Filed tax return
Revenue 2023: seller's figure compared with the filed tax return
Passed
The seller's revenue figure agrees with the filed tax return (Form 1120-S).
Checked against: Filed tax return
Revenue 2023: profit and loss statement compared with the filed tax return
Passed
Revenue on the profit and loss statement agrees with the filed tax return.
Checked against: Filed tax return and profit and loss statement
Cash flow (SDE) 2023: seller's figure compared with the filed tax return
Passed
The seller's cash flow figure agrees with the figure rebuilt from the filed tax return (net income plus one owner's pay, interest, depreciation and amortization).
Checked against: Filed tax return
2 of 2 passed
Bank statements are continuous and add up, 12 months
Passed
12 consecutive monthly bank statements, August 2025 to July 2026. Each statement's totals add up, and each month opens at the balance the previous month closed at.
Checked against: 12 bank statements
Business name agrees across the documents
Passed
The business name printed on the tax returns, profit and loss statements, bank statements and formation document agrees with the legal name the seller gave.
Checked against: 3 filed tax returns, 4 profit and loss statements, 12 bank statements, lease, formation document and tax ID letter
4 of 4 passed
Year established compared with the formation document
Passed
The year established agrees with the formation document on file.
Checked against: Formation document
Employee count compared with wages on the filed tax return
Passed
The employee count is consistent with the salaries and wages on the filed tax return. No payroll report was provided.
Checked against: Filed tax return
Monthly rent compared with the lease
Passed
The monthly rent the seller gave agrees with the base rent in the lease on file.
Checked against: Lease
Lease end date compared with the lease
Passed
The lease end date agrees with the lease on file.
Checked against: Lease
Software reads the documents and flags mismatches. A person makes every approval decision.
This report records what NextOwner checked, against which documents, on the date shown. It is not an audit, an appraisal or a guarantee. Do your own due diligence with your own advisers before you buy.
Report fingerprint
A SHA-256 of everything in this report. Anyone can use it to confirm the report has not changed since .
f2fe2d32bfba8cf18253586b0065ec3e0dfc6c89db006dbb61230f1ea04578fc
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The owner
Sole owner
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$1,150,000
2.9x cash flow