Model home leaseback marketplace
Turnkey homes.
The builder as tenant.
Model Home Investor is the national marketplace for model home leasebacks — nearly-new, heavily upgraded homes (single-family, townhomes, and condos) sold to investors with the homebuilder staying on as tenant under a multi-year commercial lease. Every listing arrives with a full pro forma, lease terms, rent comps, and market data so you can underwrite it yourself.
Investors join free · builders list free while we build the marketplace
- Typical lease term
- 12–36 mo
- Cap rates commonly quoted
- 5–8%
- Tenant in place at close
- Day one
Why leasebacks
A quiet corner of real estate — with unusually strong fundamentals.
Turnkey from day one
Model homes are the builder's showpiece — professionally decorated, upgraded well beyond base spec, and maintained daily because the sales team works out of them.
Commercial lease, corporate tenant
The builder signs as tenant, usually on a commercial (often triple-net-style) lease where the builder covers maintenance and frequently taxes, insurance, and HOA dues. No residential tenant turnover during the term.
Often used in 1031 exchanges
Because it closes as a leased investment property, a model home leaseback is commonly used as replacement property in a 1031 exchange. Confirm treatment with your qualified intermediary and tax advisor.
Planned exit
When the builder vacates, you inherit a nearly-new, heavily upgraded home in a built-out community — hold it as a rental or sell into the resale market. Underwrite that second act before you buy.
How it works
Introductions, not transactions.
We're a directory and introduction service, not a broker. You'll always transact directly with the builder and your own licensed representation.
- 01
Tell us what you're looking for
Price range, target markets, cash vs. financed, 1031 timing. Joining is free today.
- 02
Builders list their leasebacks
National and regional builders post model home leasebacks directly with us — off-market and pre-listing opportunities you won't find on the MLS.
- 03
Get introduced to the builder
Request an intro and we release the builder name, address, and sales contact, then hand you off directly to their team or listing broker. You handle diligence and closing with your own agent and attorney.
Investor list
Be first in line as builders bring inventory to the marketplace.
Builders list their model home leasebacks with us directly. Join the investor list and we'll introduce you the moment a match surfaces in your target markets.
Are you a homebuilder? List your leaseback →
Investor early access
Free to join while we build up the marketplace. No account needed.
FAQ
Common questions.
What is a model home leaseback?+
A homebuilder sells a completed model home to an investor and immediately leases it back for the remainder of the community's sales phase — commonly 12 to 36 months, occasionally longer. The builder keeps using the home as its sales office and model, pays the investor rent under a commercial lease, and typically handles maintenance and upkeep.
Is the rent really above market?+
Sometimes, but treat it as deal-specific rather than a rule. The rent reflects commercial use of the home as a sales office, not what a residential tenant would pay, so quoted yields often land in the 5–8% cap rate range and rent frequently exceeds the payment on a conventionally financed purchase. It is not a guaranteed premium — verify the rent, the term, and who pays taxes, insurance, HOA, and maintenance in the actual lease.
What are the risks?+
Three to underwrite carefully. First, model homes carry heavy upgrades and often price above neighborhood comps, so appraisals can come in short. Second, the income stops when the lease ends — you have to re-tenant at true market rent or sell. Third, the lease is only as good as the builder's credit, so review the lease, guarantor, renewal and early-termination terms with your own attorney.
Do these work for a 1031 exchange?+
They are frequently marketed to 1031 buyers because they close as income-producing investment real estate with a tenant already in place, which suits tight identification and closing windows. Eligibility depends on your specific exchange — work with a qualified intermediary and tax advisor. Nothing here is tax advice.
Are you a real estate broker?+
No. Model Home Investor is an informational directory and introduction service. We do not list, market, negotiate, or close real estate transactions. We connect investors with builders and their licensed brokers, and you complete the transaction with your own advisors.
How do you source listings?+
Builders list their model home leasebacks with us directly. We're the dedicated marketplace for these opportunities — a channel that doesn't exist elsewhere, since most leasebacks trade quietly through builder-broker relationships or as one-off MLS listings rather than in any central place.
What does it cost investors?+
Nothing today. Browsing the directory, running the pro forma, and requesting builder introductions are all free while we build up the marketplace. If we introduce paid plans later, we'll give members advance notice before anything changes.
Where are properties located?+
Nationwide, with the deepest inventory in high-growth Sun Belt markets — Texas, Florida, the Carolinas, Arizona, Nevada, and Georgia — where public builders run the most active model home programs.