Multifamily Tools
IRR & Equity Multiple
Hold-period levered IRR from initial equity, growing cash flow, and a sale at an exit cap. Year-1 cash flow and cap live on the Investment Calculator — this page is the exit math.
Hold and exit
Acquisition
$
Down payment + closing + immediate CapEx. Not the purchase price.
$
% / year
Exit
$
% of sale price
Returns
IRR—
Equity multiple—
Operating CF (hold)—
Net sale proceeds—
Cash flows
This model treats sale proceeds as unlevered (NOI ÷ exit cap). Remaining loan balance is not subtracted — pull year-1 CF from the Investment Calculator so equity and cash flow match the same deal.
IRR assumes end-of-year cash flows. Get year-1 cash flow from theInvestment Calculator. Price the exit NOI on the Valuation Calculator.