Ran the numbers again this month, same routine I've kept up since the rate rises started back in 2022. The property that's been marginal for the better part of two years, the one I nearly sold in early 2024, crossed back into comfortably positive territory this quarter.
Two rate cuts did that. Not a huge shift in absolute terms, fifty basis points total, but enough to move the number from an uncomfortable breakeven into a real buffer.
I'm not popping any celebration for one property finding its footing. But it's the first genuinely good news that specific asset has delivered in two years, and after that long a stretch of just holding on, I'll take it.