Multifamily Tools
Multifamily Investment Calculator
Underwrite a 2-20 unit Georgia building from offer price, rents, expenses, and financing — including all cash. Get NOI, cap rate, cash-on-cash, DSCR, and a PDF you can send with an offer.
Property
Purchase Price
Income
Simple Rent Roll (optional)
Enter unit rents. GPI and Avg Rent update automatically. Leave blank to use Avg Rent / GPI only.
Operating Expenses (Annual)
Repairs, pest, landscaping, cleaning, owner-paid utilities, admin. Starts ≈ $1,100/unit when you set units.
Financing
Conventional = fully amortizing. Commercial = shorter call + balloon. Seller finance = below-market note with balloon. Cash = no loan.
Get Your PDF Report
Enter your details once. We’ll remember you on this device.
How to value multifamily and estimate returns
Small apartment buildings are valued on income and whether a lender will finance them.
- NOI and cap rate - Value = NOI / cap rate. That is the unlevered price of the asset.
- DSCR - Most 5+ unit lenders want 1.20x-1.25x coverage. Use "Set price for 1.25 DSCR" to back into the highest bid that still clears that test.
- Cash-on-cash - Year-one cash flow divided by cash in. That is the return on the check, not on the building.
Need only cap and NOI?Cap Rate Calculator. Need income value, GRM, and dollars per door?Property Value Calculator.
Underwriting notes
- Property types - Built for 2-20 unit Georgia product: duplex through small apartment building.
- Financing - Cash (no loan), conventional fully amortizing, or commercial and seller finance with a balloon at the call.
- DSCR = NOI / annual debt service.
- Year 1 cash flow is before tax and CapEx reserves.
- Expense defaults (~$800/unit insurance, ~$1,100/unit other) are starting points. Replace them with a T-12 and a live insurance quote before you offer.
Frequently Asked Questions
How do I calculate the value of a multifamily property?
Multifamily properties are primarily valued by dividing Net Operating Income (NOI) by the market capitalization rate (Value = NOI / Cap Rate). Lenders also care about financeability - most want a DSCR of 1.20-1.25x or higher. Use the "Set price for 1.25 DSCR" button on this tool to solve for the maximum purchase price that still meets that coverage ratio.
What is a good DSCR for multifamily loans in Georgia?
Most commercial and residential income lenders target a minimum Debt Service Coverage Ratio of 1.20x to 1.25x. A higher DSCR gives more cushion and usually improves loan terms. This analyzer lets you model both conventional fully-amortizing loans and commercial structures with a shorter call + balloon.
Does this tool work for off-market and listed multifamily deals?
Yes. Enter any street address, your target offer price, rent assumptions (or a simple rent roll), operating expenses, and financing terms. The calculator works the same for on-market listings and off-market opportunities in Atlanta and across Georgia.
What expenses should I include when underwriting a small multifamily?
Typical annual operating expenses include property taxes, insurance (roughly $800/unit as a starting point in Georgia), property management (often 8-10% of effective gross income), and a miscellaneous/repairs line. Always replace the estimates with actual trailing-12 numbers and a real insurance quote before making an offer.
Can I export a professional PDF report?
Yes. After you enter your assumptions, click "Export PDF Report." The tool generates a clean, presentation-ready investment analysis you can send to partners or lenders.