How to analyze a rent roll?

Before investing in any multifamily deal, the numbers must tell a clear story.

A rent roll and T12 aren’t just documents—they’re your window into the property’s true performance.

Here’s what to look for:
• Consistent occupancy vs. vacancy trends
• Rent comps vs. actual in-place rents
• Expense ratios (are they realistic or inflated?)
• Any sudden spikes or drops in income/expenses

One of the biggest mistakes investors make is taking seller numbers at face value. Always verify, normalize, and stress test the data.

A clean T12 with stable trends = confidence.
Inconsistent or “too good to be true” numbers = time to dig deeper.

If you want help breaking down a deal, I can walk you through it step by step.