Company: RITM-PC
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001556593-25-000016
Chunk: 144

Company: Rithm Capital Corp.
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 144
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, which consist primarily of property taxes, insurance, HOA fees (when applicable), utility expenses, repairs and maintenance, leasing costs, marketing expenses and property administration. Prior to a property being rentable, certain of these expenses are capitalized as building and improvements. Once a property is rentable, expenditures for ordinary repairs and maintenance thereafter are expensed as incurred, and we capitalize expenditures that improve or extend the life of a property.

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The following table summarizes certain key SFR property metrics as of March 31, 2025 (dollars in thousands):

Number of SFR Properties% of Total SFR PropertiesNet Book Value% of Total Net Book ValueAverage Gross Book Value per Property% of Rented SFR Properties% of Occupied Properties% of Stabilized Occupied PropertiesAverage Monthly RentAverage Sq. Ft.Alabama912.3 %$16,658 1.6 %$183 87.9 %87.9 %94.1 %$1,579 1,540Arizona1433.6 %$53,572 5.3 %$375 95.1 %95.1 %97.1 %$1,982 1,519Florida81220.3 %$210,721 20.8 %$260 91.0 %91.1 %95.0 %$1,919 1,432Georgia73718.4 %$169,528 16.8 %$230 90.9 %90.9 %95.4 %$1,894 1,767Indiana1182.9 %$24,818 2.5 %$210 97.5 %97.5 %100.0 %$1,731 1,623Mississippi1573.9 %$30,971 3.1 %$197 91.1 %91.1 %94.1 %$1,810 1,682Missouri3588.9 %$69,551 6.9 %$194 92.2 %92.2 %97.1 %$1,634 1,408Nevada1002.5 %$32,163 3.2 %$322 90.0 %90.0 %95.7 %$1,813 1