Cap rate & gross rent multiplier calculator for Evanston, IL
Starts from local data for Evanston, IL (ZIP 60201): a 3-bedroom rent of $2,742 a month (range $2,104–$3,380). Every value stays editable.
Cap rate
6.58%
Gross rent multiplier
9.92
- Gross annual rent
- $50,400
- NOI (yearly)
- $32,880
How this is calculated
- 1Gross annual rent = monthly rent × 12.
- 2NOI = gross annual rent × (1 − vacancy %) − operating expenses.
- 3Cap rate = NOI ÷ price.
- 4GRM = price ÷ gross annual rent.
Neither metric accounts for financing. Use the rental cash flow calculator to see returns with a mortgage.
Frequently asked questions
- What rent should I use for a 3-bedroom rental in Evanston, IL?
- In ZIP 60201 the typical figure is $2,742 a month ($2,104–$3,380); across Evanston's 5 ZIP codes it's $1,724–$3,380, with a median of $2,618. Check listings for the specific property.