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Cap rate and NOI

Net operating income and cap rate, with a quick version for smaller buildings and a line-by-line version for 20 to 100 units.

PriceUnitsAverage rent per unit / monthOther income / monthParking, laundry, feesVacancy and credit loss%Expenses as % of income%Taxes, insurance, repairs, management, reservesCap rate to value at%

Result

Effective gross income: $266,760
Operating expenses: $106,704
Net operating income: $160,056
Cap rate at this price: 5.34%
Value at a 6.5% cap: $2,462,400
Price per unit: $250,000

Quick mode works well for 2 to 20 units, where an expense ratio is a fair shortcut. For 20 to 100 units, switch to detailed and enter each line from the T-12, the last twelve months of operating statements.

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These are estimates to help you think it through, not an appraisal or tax, legal or lending advice.

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