Multi-family
Do the units support the purchase?
Rents, vacancy, operating expenses, debt service and coverage on one property — with advertised rent and verified rent roll kept strictly apart.
- Find
- Analyze
- Finance
- Acquire
- Operate
Learn
How this decision actually works
Small multi-family is bought on income. The order below is what separates a property that carries itself from one that quietly does not.
01 · Find
What is actually being sold?
Unit count, configuration and who pays which utility change the economics more than the price does.
- Verified
- Unit count and building facts from the public record.
- Unknown
- Which units are occupied, and at what rent.
02 · Analyze
What does the property earn after it operates?
Gross rent, other income and a real vacancy assumption produce effective income. Operating expenses come off before any debt is considered.
- Assumed
- Vacancy, management, maintenance and capex reserve.
03 · Finance
Does the income cover the debt?
Debt service coverage decides whether a lender will look at the property, and whether a bad quarter is survivable.
- Assumed
- Rate, term and down payment until a lender confirms them.
04 · Acquire
What must be produced at contract?
Leases, rent roll, estoppels, security-deposit ledger and utility history convert assumptions into facts — or end the deal.
- Unknown
- Collected rent until the rent roll and bank record agree.
05 · Operate
What does year two look like?
Turnover, capital reserves and expense growth decide durability. A first-year number is not a hold.
Find
Find the property
Search active two-to-four unit and small apartment properties, then carry the address into the workspace with your rent and expense assumptions.
- Ask which utilities are landlord-paid before comparing two buildings on price alone.
- Advertised rent is a marketing figure. Request the rent roll and leases early.
- Separately metered units usually operate more predictably than a single master meter.
Already have an address? Enter it in the workspace and every figure below is calculated for that property.
Analyze
What the workspace calculates
The multi-unit workspace runs the cash-flow and cap-rate engine. Rent by unit is used where the system has it; otherwise a modelled average is shown and labelled as one.
- Units and rent by unit, or modelled average where that is all we have
- Other income
- Vacancy
- Operating expenses
- Expense ratio
- Net operating income
- Cap rate
- Debt service
- DSCR
- Monthly cash flow
- Cash-on-cash return
- Price per unit
- Break-even rent where supported
- Per-unit capex reserve
Advertised rent and verified rent roll are never merged into one figure.
Open the multi-family workspaceVerify
What has to be established
Income is the asset. This is what has to be established before the return is real.
- Verified
Supported by an identified source and reviewed where review is required.
- Assumed
A preset, user-entered or analyst-entered figure that is not independently established.
- Unknown
Missing, contradictory, stale or not yet established.
- Rent roll and leasesRequested at contract. Until then, rent is advertised, not collected.Unknown
- Advertised rentListing or market figure used to model income.Assumed
- Operating expensesPreset or owner-stated until tax, insurance and utility bills are produced.Assumed
- Taxes and assessmentMunicipal record.Verified
- Certificate of occupancy / unit legalityConfirmed with the municipality, never inferred from a listing.Unknown
- Debt termsProvided by a lender. Nothing here is a quote.Unknown
- Advertised rent is not collected rent. Leases, a rent roll and bank deposits settle it.
- A legal unit count is established by the municipality, not by how the building is being used.
Real work
Real projects in progress
One affiliated three-unit rehabilitation project, published and maintained by a separate investment company.
Prosperity PropertiesZ LLC is a separate real-estate investment company. AnalyzeAnyProperty provides independent property-decision tools and licensed real-estate guidance. Project status and facts are maintained by Prosperity PropertiesZ.
Work with Scott
Technology organizes the evidence. Scott reviews the decision.
A licensed real-estate professional reads the property with you, tells you what is missing and what he would do next.
Questions stay attached to your Property Intelligence™ and Buyer Journey.