Company: RITM-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001556593-25-000033
Chunk: 404

Company: Rithm Capital Corp.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 404
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 for its initial lease, we incur ongoing property-related expenses, 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 September 30, 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 %$16,659 1.6 %$183 87.9 %91.2 %95.2 %$1,654 1,540Arizona1423.6 %52,700 5.3 %371 91.5 %93.0 %94.9 %2,023 1,518Florida80520.3 %207,508 20.8 %258 88.8 %89.8 %95.0 %1,953 1,432Georgia72918.3 %167,259 16.8 %229 87.5 %90.9 %94.0 %1,951 1,769Indiana1172.8 %24,471 2.5 %209 88.0 %92.3 %92.8 %1,754 1,621Mississippi1574.0 %30,978 3.1 %197 90.4 %91.7 %96.6 %1,887 1,682Missouri3569.0 %69,110 6.9 %194 89.6 %92.4 %93.3 %1,693 1,411Nevada982.5 %31,315 3.1 %320 83.7 %88.8 %92.1 %1,924 1,457North Carolina43110.8 %121