Asking the selling agent for more inform to value a property

3 Replies

Can I contact a listing agent and ask for more information about a property such as, gross rental income, net rental income, property vacancy rates, etc.

I am trying to value 2-4 unit properties but I can't get an accurate cap rate, noi, etc. If the listing agent doesn't post the info. 

Is this something I can email and ask about?


You can ask, but don’t be surprised if they don’t provide that info (or even have it).

2-4 unit residential properties are usually valued by doing a comparative market analysis and looking at other similar sold comps. 

Originally posted by @Kyle J. :

You can ask, but don’t be surprised if they don’t provide that info (or even have it).

2-4 unit residential properties are usually valued by doing a comparative market analysis and looking at other similar sold comps. 


Thank you for the response and time Kyle. I guess I'll give it a go and ask seller's agents for more information. I have never bought a 2-4 unit property so forgive my lack of knowledge. But, maybe you know the answer to this question. Does using rental income as a bargaining chip work for price negotiation? Or is it just based on comparable properties, home quality, buyers/seller's market? I feel like I should be able to bargain with more solid numbers such as vacancy rates, cap rates, etc. On a property that supposed to be an investment.


The numbers you are looking to use as tools are best used for 5+ units and up. A cap rate does not apply the right way to 2-4 unit properties even though people still use it. Think of a 2-4 family as a home, not a commercial entity. Its value is often tied into single-family values in the area and block values that haven nothing to do with how larger properties are evaluated. Selling agents for small multi-family properties should still be able to provide rent roll and expenses and insurance, etc. if they want to sell it and you are surely entitled to ask. Just remember, getting the info doesn't mean the tenants are paying. Unless you can confirm with bank statements, it's hard to be sure the rent roll is actually flowing.

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