Multifamily Cash Flow Budget

Written Analysis

A 2026 monthly operating budget for a 100-unit multifamily property, built from rent roll inputs through NOI, debt service, capex, and net cash flow.

1. 1

   Built the model from asset-level operating data.

   The workbook starts with the rent roll, floorplan mix, lease-end schedule, and billing summary, then converts those inputs into monthly market rent, in-place rent, gain/loss to lease, vacancy, concessions, and RUBS recovery. The model ties 100 units and 95 occupied units into a 2026 gross potential rent build of roughly $4.9M.

2. 2

   Translated assumptions into a full property pro forma.

   Revenue uses 5% annual rent growth, 95% average occupancy, 60% renewal conversion, and $50K of annual concessions. Expenses flow from payroll, property taxes, insurance, utilities, R&M, turnover, G&A, marketing, landscaping, and a 3% management fee. The result is roughly $4.8M of total revenue, $1.9M of operating expenses, and $2.9M of NOI.

3. 3

   Proved the asset remains cash-flow positive after the debt step-up.

   Debt service is interest-only through June at about $166.7K per month, then steps to amortizing principal and interest at about $214.7K per month. Even after that July increase and $100K of annual capex, the model produces about $481.6K of full-year net cash flow.