Canadian fourplex and multiplex cap rates
10 markets ranked by our screen — cap-rate band, ask per door, vacancy, and the play that fits each city.
Bank of Canada
BoC overnight target 2.50%
5-yr posted 6.19%
Avg new 5-yr fixed (Aug 2026) 4.58%
Qualifying rate 6.58%
as of 2026-10-30
MarketLocationScoreDealsMarket rentCap rangeRent rulesBest play
Calgary, AB163 active listings · High demand · Medium vacancy risk
100
88
163live$1,7442.1% - 2.8%LowMultifamilyMarket memoDeals · 163Edmonton, AB122 active listings · Medium demand · Medium vacancy risk
98
83
122live$1,4225.8% - 7.5%LowBRRRRMarket memoDeals · 122Montreal, QC129 active listings · High demand · Low vacancy risk
90
81
129live$1,1682.2% - 3.1%HighPlex investingMarket memoDeals · 129Ottawa, ON415 active listings · High demand · Medium vacancy risk
88
79
415live$1,6842.7% - 4.0%HighBuy & holdMarket memoDeals · 415Winnipeg, MB100 active listings · Medium demand · Medium vacancy risk
81
78
100live$1,3443.9% - 6.8%MediumBuy & holdMarket memoDeals · 100Hamilton, ON120 active listings · High demand · Medium vacancy risk
85
76
120live$1,5392.8% - 4.2%HighValue-add / flipMarket memoDeals · 120Gatineau, QC34 active listings · Medium demand · Medium vacancy risk
71
73
34live$1,3253.0% - 6.0%HighDuplex/triplexMarket memoDeals · 34Toronto, ON211 active listings · Very high demand · Low vacancy risk
72
72
211live$1,8521.9% - 2.8%HighMultiplex conversionMarket memoDeals · 211London, ON171 active listings · Medium demand · Medium vacancy risk
68
70
171live$1,4602.8% - 4.4%HighBuy & holdMarket memoDeals · 171Vancouver, BC101 active listings · Very high demand · Low vacancy risk
68
63
101live$1,9292.2% - 3.6%HighDevelop / intensifyMarket memoDeals · 101