총 임대료 배수 계산기: 부동산 분석

The gross rent multiplier (GRM) is a quick real-estate screening ratio that compares a property's acquisition price with the gross rent it can produce in one year. It answers a narrow but useful question: how many years of gross scheduled rent equal the purchase price? A $500,000 property earning $48,000 a year has a GRM of 10.42. Because the ratio ignores operating expenses and financing, it is best used to compare broadly similar properties before performing a complete cash-flow analysis. The basic formula is property price divided by annual gross rent. If only monthly rent is known, multiply it by 12 first. Lower multipliers generally mean more rent per dollar of purchase price, but lower is not automatically better. An older property may show a low GRM because maintenance is high, while a new property in a stronger location may justify a higher multiple through lower expenses, lower risk, or better expected appreciation. Compare properties in the same market, property class, and rental segment. Vacancy-adjusted GRM improves the first pass by replacing scheduled rent with effective rent. Effective annual rent equals gross annual rent multiplied by one minus the vacancy rate. At 5% vacancy, $48,000 of scheduled rent becomes $45,600, and the effective multiplier rises from 10.42 to 10.96. This adjustment recognizes lost occupancy but still does not subtract property tax, insurance, management, repairs, utilities, concessions, or reserves. Investors commonly use GRM to sort listings, estimate a rough value from market rent, and challenge an asking price. If comparable properties trade near a GRM of 9 and a subject property could reliably earn $60,000 annually, a rough income-based value is $540,000. That is not an appraisal: lease quality, deferred maintenance, zoning, rent controls, and comparable-sale evidence can materially change value. After screening, calculate net operating income, capitalization rate, debt-service coverage, cash-on-cash return, and a multi-year discounted cash flow. Verify rent with leases and local market evidence rather than relying only on a listing. Use a stabilized vacancy assumption that reflects the asset and location. GRM is most valuable as a fast, consistent filter; it should never substitute for due diligence or an expense budget.