A free, deterministic first screen for an existing 5+ unit rental property. It sizes the loan both ways a lender does — debt coverage and loan-to-value — names the binding constraint, and shows the cash reality. Every formula runs in your browser; nothing is uploaded, nothing is stored.
How the math works. Gross potential rent = units × rent × 12 plus other income. EGI applies vacancy; NOI applies the expense ratio. Value = NOI ÷ cap rate. The DCR loan is the loan whose annual debt service (at your rate and amortization, monthly compounding) equals NOI ÷ minimum DCR; the LTV loan is max LTV × price; the final loan is the lesser — that is the binding constraint. Cash to close = price − loan + closing + immediate capital. Break-even occupancy = (operating expenses + debt service) ÷ gross potential income.
This is a first screen, not underwriting. It uses your expense ratio instead of a normalized operating statement — rebuilding NOI from source documents is where real underwriting happens, and it is what our course teaches: CMHC MLI Select for Existing Multifamily. Point thresholds referenced from CMHC's MLI Select criteria (verified 2026-08-09). MBL Developments is an independent company — not affiliated with, reviewed by, or endorsed by CMHC. Not financial, legal or lending advice.