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Unit Mix Income Calculator

Build the income side of a multifamily underwrite from unit mix. Studios, 1-BR, 2-BR, and 3-BR roll into gross scheduled rent, then effective gross income after vacancy, then NOI after OpEx, then valuation at your cap rate.

Studios

Studio rent

1-bedroom units

1-BR rent

2-bedroom units

2-BR rent

3-bedroom units

3-BR rent

Economic vacancy %

Operating expense ratio %

OpEx / EGI for valuation

Market cap rate %

Monthly gross scheduled rent

$47,000

Annual gross scheduled rent

$564,000

Effective gross income

$535,800

Net operating income

$310,764

Valuation at cap rate

$5,179,400

Total units

Avg rent per unit

$1,808

Dominant unit type

46% 1-BR

How the math works

Unit mix drives both gross income and how the property prices. Buyers want diversified mix (studios + 1-BR + 2-BR) for liquidity — single-mix properties (all studios or all 3-BR) get cap-rate haircuts of 25-100 basis points. Class-A urban favors 1-BR heavy, suburban workforce favors 2-BR heavy, college towns favor 3-4 BR shared.

EGI = GSR × (1 − vacancy − collection loss − concessions). NOI = EGI − OpEx. Valuation = NOI ÷ cap rate. The cap rate you apply should reflect both market and unit mix. Always sanity- check valuation per door and per square foot against recent sales of similar mix.

Editorial noteMaintained by EveryCalc - Reviewed June 2026

EveryCalc calculators are designed for fast, practical estimates with transparent inputs and no required account. We use plain formulas, visible assumptions, and related tools so visitors can check the result from more than one angle.

Results are informational only. For financial, tax, legal, medical, construction, or other high-impact decisions, verify the output against primary sources or a qualified professional.

Learn more about our review process on the EveryCalc methodology page.

How this calculator works

What this page estimates

This Unit Mix Income Calculator is built to give a quick, browser-based estimate for unit mix income. Build the income side of a multifamily underwrite from unit mix. Studios, 1-BR, 2-BR, and 3-BR roll into gross scheduled rent, then effective gross income after vacancy, then NOI after OpEx, then valuation at your cap rate. The inputs stay on the page during normal use, and the result should be treated as an estimate for planning, comparison, or education rather than professional advice.

Calculation approach

The calculator applies the standard relationship implied by the inputs, then formats the answer so it can be checked and reused. For finance tools, the most important step is using consistent units, rates, time periods, and assumptions before comparing the result with another calculator or outside quote.

Example workflow

For example, start with a realistic value you already know, change one input at a time, and watch how the answer moves. That makes it easier to tell whether the result is being driven by the main amount, the rate, the time period, or a unit conversion.

Practical checks

Use current, real-world numbers when the result affects money, health, tax, or legal decisions.
Run a low, base, and high case when the inputs are estimates.
Check the related calculators below when the next decision depends on a different assumption.

How to interpret the unit mix income result

Best use

Use the result as a planning number for comparing payments, rates, returns, tax reserves, or cash-flow choices before you request a quote or make a commitment.

Cross-check

Compare the answer with the contract, lender estimate, tax form, brokerage statement, payroll record, or invoice that will control the real-world outcome.

Watch for

Do not rely on a single optimistic rate, return, or fee assumption. Money pages work best when you run low, base, and high cases and keep professional advice separate from the estimate.

This page belongs to the Finance calculator library, so the answer should be read in the context of the decision you are modeling rather than as a universal rule.

Before relying on this unit mix income estimate

Most calculator mistakes come from the inputs, not the arithmetic. Use this short audit before you reuse the answer in a spreadsheet, quote, application, or important conversation.

Confirm source numbers

Match balances, rates, fees, taxes, income, and payment dates against the lender quote, payroll record, tax form, statement, invoice, or contract.

Separate cash flow from total cost

A lower monthly payment can still cost more over time if fees, interest, taxes, or a longer term are hidden in the structure.

Run conservative cases

Test at least one higher-cost or lower-return case before using the output for a purchase, refinance, investment, loan, or tax decision.

Rerun this page when the rate, price, term, fee, tax rule, income, expense, or expected holding period changes.

How to Use

Enter unit count and rent for each bedroom type.
Set economic vacancy (physical vacancy + collection loss + concessions).
Enter operating expense ratio for the property class.
Enter the market cap rate for valuation.
Read GSR, EGI, NOI, valuation, and dominant unit type signal.

Frequently Asked Questions

What's a healthy unit mix?

Diversified — typically 10-25% studios, 35-50% 1-BR, 25-40% 2-BR, and 5-15% 3-BR for urban infill. Suburban garden-style skews 1-BR/2-BR heavy. Single-mix assets (all 1-BR or all studios) trade at 25-100 bps wider cap rates due to demand concentration risk.

What does GSR vs EGI vs NOI mean?

GSR (gross scheduled rent) is 100%-occupied face rent. EGI (effective gross income) deducts vacancy, collection loss, and concessions. NOI (net operating income) deducts operating expenses but not debt service or capex. Valuation = NOI ÷ cap rate.

What operating expense ratio should I use?

Class-A urban: 30-40%. Class-B garden: 38-48%. Class-C value-add: 45-55%. The ratio is OpEx ÷ EGI, not OpEx ÷ GSR. Tax-heavy markets (TX, IL) skew higher; low-tax markets (NV, FL parts) lower. Always sanity-check against trailing 12-month T12 of comparable buildings.

How do I price each unit?

Pull comp set rents for each bed/bath count within 1 mile listed in the last 60 days, adjust for amenities and condition. Asking minus typical concessions is the effective comp rent. Don't average across the building — each unit type comps on its own.