Enhancing Market Insights for Accurate Multifamily Investment
Our Team is committed to providing our clients with the most accurate and relevant information to guide their multifamily investments. In our pursuit of precision, our Senior Analyst, Brynn Hellman, embarked on a project to uncover numbers that resonate more closely with the realities of our markets.
Here's what we discovered:
Precise NOI Data: The Net Operating Income (NOI) as a percentage of Gross Potential Rent (GPR) reported in the NAA Survey of Operating Income & Expenses in Rental Apartment Communities often differed from our market realities. Our numbers are more attuned to our Texas markets, primarily focusing on Class B and C properties with an average unit size of 94, contrasting the NAA's broader scope, which includes 271-unit averages.
Benchmarking Precision: We recognized the importance of using benchmarking data from similar properties in analogous locations. The variations in expenses can be substantial, depending on the property type and location.
To refine our insights, we underwrote approximately 60 properties in our markets, meticulously analyzing actual rent rolls and financial data. This effort allows us to provide you with the most accurate income, expense, and NOI figures, ensuring that your investment decisions are rooted in dependable data.
The next time you wonder, "What are the average maintenance and repair costs for a 90-unit apartment complex in Midland?" or "How much of the Gross Potential Rent contributes to the NOI?" you can rely on our specific market insights for answers.
Our commitment to accuracy doesn't end here. We're dedicated to continuing this underwriting project, keeping our clients up to date with precise information. If you're interested in receiving these reports, we're ready to exchange this valuable information for your property's actual financials and rent roll. Rest assured, your data will be handled confidentially and used solely for future income and expense surveys.
Feel free to contact us if you'd like to participate in this initiative. As always, if you're interested in a complimentary Broker Opinion of Value (BOV) for your property, let us know, and we'll be delighted to prepare one for you.