CloseHound
HOW IT WORKS

The voucher beats the mortgage. We prove it, listing by listing.

Section 8 (the Housing Choice Voucher program) pays landlords a rent set by HUD — and in the right markets that government-backed rent is higher than what the open market pays for the same house. CloseHound finds those houses automatically and underwrites every one.

THE DEAL SCORE

How we score a deal, 0–100.

Every property is underwritten with your assumptions, then scored on four weighted fundamentals. The deals where the math works rise to the top.

Cash-on-cash35%Annual pre-tax cash flow ÷ total cash invested. The number that actually pays you.
Cap rate25%Net operating income ÷ price. How hard the asset works regardless of financing.
Rent-to-price25%Voucher rent ÷ purchase price. The classic ‘1% rule’ lens, voucher-adjusted.
DSCR15%Net operating income ÷ debt service. Whether the rent comfortably covers the mortgage.
WHERE THE DATA COMES FROM

Official numbers. No guesswork.

HUD SAFMR

Small Area Fair Market Rents — the official, ZIP-level voucher rent ceilings published by the U.S. Department of Housing and Urban Development.

Live listings

For-sale properties and local market rents from licensed third-party real-estate data, refreshed and cached for speed.

Your assumptions

Down payment, rate, taxes, insurance, vacancy, management, maintenance and capex — every input is visible and editable.

OPPORTUNITY GRADES

Every market, graded honestly.

We won’t waste your screens. Each market gets an A–F cash-flow grade so you spend your time where the voucher reliably beats the market — and skip the appreciation traps.

APrimeVoucher rent routinely beats market — strong cash-on-cash before financing.
Akron (Summit) OHAugusta (Richmond) GABirmingham (Jefferson) ALCleveland (Cuyahoga) OHDayton (Montgomery) OHDetroit (Wayne) MIFlint (Genesee) MIIndianapolis (Marion) INMacon (Bibb) GAMemphis (Shelby) TNMilwaukee WISaginaw MISt. Louis (City) MOToledo (Lucas) OH
BStrongReliable cashflow with the right property. Worth screening regularly.
Canton (Stark) OHCharleston (Kanawha) WVChattanooga (Hamilton) TNCincinnati (Hamilton) OHColumbia (Richland) SCColumbus (Franklin) OHColumbus (Muscogee) GAErie PAFayetteville (Cumberland) NCFort Wayne (Allen) INGary (Lake) INGrand Rapids (Kent) MIGreensboro (Guilford) NCJackson (Hinds) MSKansas City (Jackson) MOKnoxville (Knox) TNLouisville (Jefferson) KYMobile ALMontgomery ALOklahoma City (Oklahoma) OKPeoria ILPittsburgh (Allegheny) PARockford (Winnebago) ILSan Antonio (Bexar) TXTulsa OKWichita (Sedgwick) KSWinston-Salem (Forsyth) NC
CMixedSelective — prices or taxes have risen. Cherry-pick; don't carpet-screen.
Clayton (ATL exurb) GAHenry (ATL exurb) GAHouston (Harris) TXPhiladelphia PAShreveport (Caddo) LA
DThinMostly an appreciation play. Cashflow is the exception, not the rule.
Jacksonville (Duval) FL
FAppreciation onlyInsurance/prices usually kill cash-on-cash. Screen only if you want appreciation, not yield.
Broward FLMiami-Dade FL

Don’t see your market? You can screen any ZIP in the country from the screener — the curated list above is just where the opportunity is most concentrated.

Ready to find one?

Start free — 10 screens