CARDINAL RIDGE CAPITAL

Multifamily deal analyzer

Free first-pass calculator. Enter annual figures and identify every cash cost.

Property

Purchase price ($)Residential units

Annual income

Full-occupancy scheduled rent ($)Vacancy allowance (%)Concessions and bad debt ($)Other income and reimbursements ($)

Scheduled rent is before vacancy and concessions. Do not deduct loss to lease again if contracted rents already reflect it. Other income must be separately supported.

Annual expenses

Operating expenses excluding management ($)Management fee (% of effective income)Capital spending / reserve deduction ($)

Include taxes, insurance, utilities, repairs, payroll and other recurring costs in operating expenses. Exclude debt and capital spending. Enter reserve/capital cash deductions only once.

Cash needed at closing

Closing costs and loan fees ($)Acquisition fee ($)Upfront improvements ($)Initial funded reserves ($)

Include earnest money once within the purchase cash if credited at closing. Upfront reserves are cash funding; annual deductions are separate future cash needs.

Primary loan

Loan amount ($)Annual interest rate (%)Amortization (years)

Payment type

Interest-only results apply only while that period lasts. Amortizing coverage is also shown. These payments exclude escrows and loan fees.

Include a second loan at closing

Calculated results

Missing or invalid inputs: Purchase price ($), Residential units, Full-occupancy scheduled rent ($), Vacancy allowance (%), Concessions and bad debt ($), Other income and reimbursements ($), Operating expenses excluding management ($), Management fee (% of effective income), Capital spending / reserve deduction ($), Closing costs and loan fees ($), Acquisition fee ($), Upfront improvements ($), Initial funded reserves ($), Loan amount ($), Annual interest rate (%), Amortization (years)

Effective gross income: —
Net operating income: —
Cap rate: —
Annual debt service: —
NOI debt coverage: —
Amortizing NOI coverage: —
Cash equity required: —
Annual cash after debt & capital: —
Cash-on-cash return: —
Price / residential unit: —

Results depend on your entries. A lender may use net cash flow after required reserves rather than NOI for coverage. This is a first-pass estimate, not a financing quote or investment recommendation.

How the calculations work

Effective income = scheduled rent − vacancy − concessions/bad debt + other income.

NOI = effective income − operating expenses − management fee.

Cap rate = NOI ÷ purchase price. Coverage = NOI ÷ annual debt service.

Cash flow = NOI − all entered debt service − annual capital/reserve cash deductions.

Cash equity = price + closing costs + acquisition fee + upfront improvements + funded reserves − primary and secondary loan proceeds.

Cash-on-cash = annual cash flow ÷ cash equity. Zero or negative cash equity does not produce a meaningful percentage. IRR needs a dated holding-period cash-flow schedule and is not calculated here.