Simply Homes is a Portland, Maine–based startup that acquires, renovates and manages single-family homes to provide long-term affordable rentals to very low-income families, the elderly, disabled and Section-8 voucher holders. Founded in 2020, the company spent its first years building a technology platform and began buying homes in January of this year. It uses machine learning and HUD data to underwrite acquisitions rapidly and claims predictable income through the Housing Choice Voucher program. By the end of the month it expects to have 108 units in its portfolio, and since its first-quarter launch it has seen revenue grow by more than 50% quarter over quarter. Simply Homes operates an operating company/property company structure, collects rents and charges a transaction fee plus a 3% ongoing portfolio management fee. The company says it underwrites for worst-case, high-interest-rate scenarios and plans to use new capital to build AI-powered virtual analysts and expand into new markets including Baltimore, additional Ohio markets and St. Louis.

Total raised

$22M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2023