¿Qué es Capitalization Rate (Cap Rate)?
La respuesta corta
The capitalization rate (cap rate) is a property's annual Net Operating Income divided by its market value or purchase price, expressed as a percentage. Cap Rate = NOI ÷ Value. It estimates the unlevered annual return and is the standard way to compare income properties and gauge whether a price is reasonable.
What is a 'good' cap rate?
It depends on market and risk: lower cap rates (4–5%) reflect lower-risk, high-demand markets with pricier assets; higher cap rates (7–9%+) reflect higher risk or weaker markets. A cap rate is only as good as the NOI behind it — inflated income or understated expenses produce a misleading number.
Capitalization Rate (Cap Rate) — Preguntas frecuentes
Cap rate vs. cash-on-cash return?
Cap rate is unlevered (ignores your mortgage) and measures the asset; cash-on-cash return factors in financing and measures the return on the actual cash you invested.
Términos relacionados
Haz los números sobre libros reales
Pilot es software de administración de propiedades con un libro mayor real de partida doble, cobro de renta, evaluación de inquilinos e IA — gratis para empezar.
Empieza gratis →