Forever Fund Performance Update
Jake Durtschi • July 10, 2024
Forever Fund Performance Update
There have been a few substantial market changes over the last 12 months that have impacted cash flow and portfolio value of the Forever Fund.
- Due to the Federal Reserve adjusting interest rates in order to combat inflation, mortgage interest rates are up.
- There was a rent correction (reduction) beginning in June 2023 (reduced market rent).
- Property taxes increased.
- Property insurance increased (approximately 30%).
- When interest rates increased, property values decreased. This occurred at the end of 2022 and the beginning of 2023.
- Property values have since stabilized and begun to increase in 2024. The market is supporting "the new normal." This refers to average interest rates around 7% being the "new normal."
Considering the market conditions, we are pleased with the overall performance of the Forever Fund. We have purchased properties at below market value, we have repositioned those properties for property value enhancement.
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We’re excited to share our latest update on the Idaho Falls and Pocatello multifamily markets, highlighting the key trends shaping investment opportunities in 2025. KEY TAKEAWAYS ✅ Labor Market Growth: Idaho Falls (+2.48%) and Pocatello (+2.04%) both saw labor force expansion, supporting continued rental demand. ✅ Supply Pressure Emerging: Idaho Falls is adding housing at more than twice the national rate, and Pocatello multifamily development is up 103% year over year—creating a more competitive leasing environment heading into 2026. ✅ Competitive Cap Rates: Idaho Falls assets are trading around 5.5–6.5%, with Pocatello comps in the 6.0–6.5% range, offering attractive returns relative to national averages. As the market evolves, Jacob Grant Capital remains committed to helping investors navigate supply shifts, rent trends, and emerging opportunities. Review the full reports below and let’s connect to discuss how you can position your portfolio for success in 2026.
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Construction is officially underway at City Heights . There’s still a little room left to invest if you’ve been considering joining the project. Our architect is currently revising the first-floor blueprint to enhance both functionality and profitability—an update aimed at increasing the project’s overall return potential. If you’re interested in allocating more funds toward City Heights—or know someone who might be a great fit—please get in touch. We’d be happy to welcome new partners during this exciting phase.
I’m pleased to share an exciting update on The Forever Fund. After a summer of leasing and improvements, the fund has achieved full occupancy. Additionally, gross rents have increased year-over-year from $35,800 to $48,432, reflecting strong performance and growth.
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