Real Estate / PM live
Per-property NOI & cap rate, occupancy, renewals, and the owned-vs-managed split.By property
6 properties · 928 units · owned NOI $461K/mo (managed earns a fee, not NOI)| Property | Units | NOI /mo | Occupancy | Avg rent | Days vacant |
|---|---|---|---|---|---|
| Harborview (owned) | 184 | $218K | 94% | $2180 | 19 |
| Maple Court (owned) | 120 | $141K | 89.5% | $2410 | 34 |
| Cedar Run (owned) | 96 | $102K | 95.8% | $1840 | 14 |
| Stonebridge (managed) | 240 | — fee | 93.1% | $1990 | 21 |
| Parkside (managed) | 156 | — fee | 92.4% | $2060 | 24 |
| Riverwalk (managed) | 132 | — fee | 90.8% | $2230 | 28 |
What the model sees
Grounded read on the portfolioRenewal elasticity: Maple Court (owned) has the highest rent ($2410) and the worst vacancy (34 days) — the rent push bought turnover. A renewal at a modest concession beats a higher asking rent that sits vacant ~34 days and eats a make-ready; model renewal-vs-turn before the next increase.
Owned (400 units) carries the NOI; third-party-managed (528 units) earns a fee, not the NOI — don't read managed occupancy as portfolio value. Watch the owned cap rate and OpEx ratio for the real return; the managed book is a margin line, not an asset line.
Days-vacant is the cheapest NOI lever you control: every day a unit sits is rent you never bill back. Tighten the make-ready turn time and pre-leasing on notice before chasing rent increases — occupancy times average rent beats a higher asking rent at lower occupancy.