price per door

Definition

The total acquisition cost of a multifamily property divided by the number of rental units, providing a quick metric for comparing deals. It's how apartment investors reduce complex investments to a single number they can text each other.

Example Usage

At $95k per door, this 12-unit building is priced right for the neighborhood—though I'm guessing those doors come with tenants who haven't paid rent since March.

Origin

Multifamily real estate investment terminology

Fun Fact

Price per door varies wildly by market and property class, from under $50k in tertiary markets to over $500k in major coastal cities—proving location really is everything.

Source: Multifamily real estate investment terminology

Related Terms

Beginner

origination fee

The charge lenders levy for processing your loan application and creating your mortgage. It's basically an admission fee to the debt party, typically 0.5-1% of the loan amount.

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Intermediate

Closing Costs

The surprise financial gut-punch that arrives right after you thought you were done spending money on a house. It's like the bill after a fancy dinner, except the dinner is a 30-year mortgage and the tip is mandatory.

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Intermediate

setback requirements

Zoning rules dictating the minimum distance a building must sit from property lines, streets, or other structures, preventing neighbors from building right up to your fence line. It's mandatory personal space for properties.

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Intermediate

jumbo loan

A mortgage exceeding conforming loan limits set by Fannie Mae and Freddie Mac, typically requiring better credit and larger down payments. It's called 'jumbo' because both the loan and the payments are supersized.

🏠 Real Estate

Intermediate

Investment Property

A property you buy to rent out to strangers who will call you at 3 AM about a leaky faucet and somehow make it your emergency. It's passive income the same way running a marathon is a casual jog.

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Advanced

Short Sale

When a homeowner sells their property for less than they owe on the mortgage, which sounds quick but actually takes approximately seven hundred years of bank approvals. The only thing short about it is the seller's patience.

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