AI Plex Analyzer
Paste a Centris listing or enter the price, units, revenue and expenses — the analyzer computes NOI, cap rate, GRM, cash flow and MLI Select eligibility in seconds, then flags red flags.
In brief — Paste a Centris listing or enter a price, units, revenue and expenses: the analyzer instantly computes the net operating income (NOI), cap rate, GRM, cash flow by financing type and MLI Select eligibility, then flags red flags. This is an automated, indicative analysis — not a certified appraisal.
The parser never crashes — anything it cannot find stays blank for you to fill in.
Rule of thumb: 35–45% for a well-managed property (excluding mortgage). Expenses below 30% are often unrealistic.
| Scenario | LTV | Amort. | Rate | Down payment | Payment/mo | Cash flow/yr | Return on equity |
|---|---|---|---|---|---|---|---|
| Enter property data to calculate… | |||||||
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Get an offer →How to read the analyzer results
Four metrics are enough to assess the quality of an income property in under a minute. Here is how to interpret each one in the context of the Quebec market.
NOI: the engine of the property
The net operating income (NOI) is the difference between gross revenue and operating expenses (before mortgage). It is the money the property generates before debt service. A solid NOI is the foundation of any good investment.
- NOI = Gross revenue − Operating expenses
- Typical expenses represent 35 to 45% of gross revenue for a well-managed property.
- Be wary of listings that show expenses below 30% — they are often incomplete.
What is a good cap rate for a multiplex?
The capitalization rate (cap rate) measures the gross return on a property relative to its price. It is calculated as: Cap rate = NOI ÷ Price × 100.
| Cap rate | Interpretation — North Shore 2025–2026 |
|---|---|
| Below 4% | Very high price, low return — hard to justify |
| 4.0% – 4.5% | Tight market, difficult cash flow with conventional financing |
| 4.5% – 5.5% | Target range for the North Shore market |
| 5.5% and above | Potential opportunity — investigate why |
GRM and NIM: the multipliers
The GRM (Gross Rent Multiplier) is the ratio of price to gross revenue (GRM = Price ÷ Revenue). The lower it is, the better the purchase relative to revenue. On the North Shore, a GRM below 12 is generally favorable; above 14, the price is high relative to revenue.
The NIM (Net Income Multiplier) uses NOI instead of gross revenue and is the inverse of the cap rate: NIM = Price ÷ NOI. It complements the analysis by accounting for actual expenses.
Cash flow: what stays in your pocket
Cash flow is the money left each month after paying all expenses and the mortgage payment. Positive cash flow means the property is self-financing. The analyzer shows two scenarios: conventional (25 years, 75% LTV, 6%) and APH Select 100 pts (50 years, 95% LTV, 5%).
APH Select (MLI Select) — the lever for large multiplexes
For properties with 5 units or more, the CMHC APH Select program can transform profitability. With 100 points (affordability + energy efficiency), LTV rises to 95% (5% down payment), amortization to 50 years and the rate is reduced. Result: lower payment, improved cash flow and less capital tied up. Actual eligibility must be confirmed by a broker.
Red flags: when to be cautious
- GRM above 14: you are paying a premium for each dollar of revenue.
- Cap rate below 4.5%: the return is below local market expectations.
- Expenses below 30%: the listing figures are likely incomplete.
- Negative cash flow with conventional financing: the property does not self-finance — high risk.
- DSCR below 1.10: minimum debt service coverage is not met.
6 questions about the AI Plex Analyzer
Paste the text of a Centris listing into the text area and click "Analyze listing" — the parser automatically extracts the price, units and revenue. You can also enter the figures manually. Results (NOI, cap rate, GRM, cash flow) appear instantly and recalculate with every change.
In 2025–2026, the North Shore market generally sits between 4.5% and 5.5% cap rate. A cap rate below 4.5% signals a high price relative to income; a cap rate at 5% or above is considered favorable for the investor.
No. This tool provides an automated, indicative analysis based on the figures you enter. Revenue and expenses from a listing can be inaccurate or incomplete. Before any purchase, validate the data against actual leases and financial statements, and consult a real estate or mortgage professional.
On Centris, select all the text on the property sheet (price, description, revenue, expenses), copy it (Ctrl+C or Cmd+C), then paste it into the text area at the top of this tool. Click "Analyze listing" and the parser will extract the data automatically.
No. The tool simply flags that properties with 5 units or more may be eligible for CMHC's APH Select (MLI Select) program, subject to strict conditions (affordability points, energy efficiency, accessibility). Actual eligibility must be confirmed by a specialized mortgage broker.
Yes, completely free. The analyzer runs directly in your browser, with no sign-up or data collection. You can use it as many times as you like.
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