What cap rate should I expect on an Edmonton fourplex?

Current screen: 1.3% - 3.7%. From 81 active Realtor.ca listings (10th–90th percentile). A fourplex is conventional financing — MLI Select starts at five units. Confirm NOI from the rent roll; street and condition move the print.

How tight is vacancy in Edmonton?

CMHC purpose-built vacancy is 3.0% as of October 2024. Small multifamily can run tighter or looser than the metro survey.

What strategies fit Edmonton?

BRRRR, Value-add, Small multifamily, CMHC/MLI Select. Rent rules: Low.

Does AssetAvenue cover Canadian income property in Edmonton?

Yes. This desk underwrites Edmonton, AB income property at the qualifying rate, with CMHC and Bank of Canada context where we have it.

Edmonton fourplex and multiplex cap rates

Fourplex and multiplex · Edmonton, AB · cap rates 1.3% - 3.7% · vacancy 3.0%

Market83

Edmonton offers low basis and yield, but vacancy, liquidity, and renovation execution deserve extra attention.

Sources: CMHC Rental Market Survey (October 2024) · Statistics Canada CMA population · Realtor.ca — 81 active listings · Bank of Canada posted rates. Figures are computed estimates — verify before acting.

BRRRRValue-addSmall multifamilyCMHC/MLI Select

Open the map Open Edmonton deals MLI Select requirements Fourplex vs 5-unit

Average rent: $1,422; CMHC purpose-built · October 2024
Cap rate range: 1.3% - 3.7%; Live listings · 10–90th %ile
Price per door: $320k - $900k; Live listings · 10–90th %ile
CMA population: 1,692,385; +3.1% YoY · StatCan 2025
Vacancy rate: 3.0%; CMHC RMS · October 2024
Rent rules: Low; Low regulation risk

Positive market signal

AssetAvenue analysis

Medium confidence

Edmonton screens as a positive market for disciplined Canadian real estate investors. The market should be judged by deal-level DSCR, rent evidence, transfer-cost reserve, and provincial operating rules, not by headline demand alone.

Positive

Screening signals

Location score

98/100

Composite signal from demand, vacancy risk, regulation, affordability pressure, and zoning tailwind.

Rent growth confidence

Medium

Medium investor demand with medium vacancy risk.

Supply pipeline risk

Low

A higher supply pipeline can pressure rent growth and exit cap assumptions.

Zoning tailwind

Moderate

Strong citywide reform context

Investor fit

First-time buyer/investor

Good fit (88/100)

Works if financing and operating costs verify.

Developer / advanced investor

Selective fit (61/100)

Only pursue if site-specific zoning evidence improves.

Evidence required

Rent evidence: compare entered rents against $1,350 - $1,950 and current lease roll.
Financing evidence: Higher yield helps, but vacancy shocks should be modeled.
Operating evidence: underwrite expenses against 35% - 45% and local insurance/tax quotes.
Policy evidence: Low rent-rule exposure. More flexible rent-setting environment, but vacancy and energy-market cyclicality should be stress tested.

Watchouts

Moderate affordability pressure can limit exit buyers or force more conservative rent assumptions.
Low landlord-regulation risk means rent lift should be priced only after lease review.
Improving vacancy trend should be monitored before waiving financing or inspection conditions.
Closing cost estimates can be lower, but insurance, utility allocation, lender fees, and reserves still matter.

Allocation note: Edmonton belongs in the workflow as a market screen, not a blanket buy signal. Advance individual deals only when the property-level memo preserves DSCR, reserve, and evidence discipline.

Market data

CMHC RMS data as of October 2024

Rent by bedroom type

CMHC purpose-built avg · October 2024

Neighbourhood scores

Market score by area

Neighbourhood rents

Average rent per unit by area

Neighbourhood intelligence

Old Strathcona

Market82

$1,750 avg rent · high demand

Best fit: Value-add multifamily

Apartment zones and infill

Oliver

Market78

$1,680 avg rent · medium demand

Best fit: Apartment hold

Central apartment stock

Mill Woods

Market74

$1,575 avg rent · medium demand

Best fit: Family rentals

Suburban suites

Provincial investor rules

Province: Alberta
Rent regulation: Low

Transfer costs: No provincial land transfer tax; registration fees still apply

Zoning and open data: Municipal land-use bylaw, district rules, parking, amenity, and discretionary-use context.

Investor watchouts

Energy-market cyclicality
Insurance and utility quotes
Vacancy and turnover sensitivity

Underwriting benchmarks

Rent range: $1,237 – $1,701; CMHC RMS · October 2024
Cap rate range: 1.3% - 3.7%; Live listings · 10–90th %ile
Price per door: $320k - $900k; Live listings · 10–90th %ile
Vacancy assumption: 3.0%; CMHC October 2024
Expense ratio: 35% - 45%
Rent rules: Low
CMHC 1BR rent: $1,237; October 2024
CMHC 2BR rent: $1,529; October 2024

Financing sensitivity: Higher yield helps, but vacancy shocks should be modeled. Data sourcing: hover any icon above for methodology. Rent and vacancy from CMHC RMS. Cap rate and price/door computed from 81 live Realtor.ca listings.Remaining benchmarks are editorial estimates. Always confirm with property-level diligence.

Signals affecting Edmonton

All news

CMHC Starts and Completions · May 22, 2026

Calgary leads the country in per-capita apartment completions

Underwrite Calgary with a vacancy buffer above trailing actuals and assume flat real rents for 24 months. If the deal still works, it works.

Watchful

Opportunities in Edmonton

81 active listings on Realtor.ca · 6 screened in AssetAvenue

All Edmonton deals

11837 Fort Road · Multi-family, Edmonton

Buy & holdLive

Score69Cap9.7%

11837 Fort Road · Multi-family

11837 Fort Road

Price

$319,500

Units (est.)

Cap rate

9.7%

DSCR

1.68x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score69/100

Worth reviewing · low risk

Zoning Verify zoningCMHC fit 60/100Closing reserve $11,320Rent rules Low

Why 69: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

10731 - 102 Street · Multi-family, Edmonton

Buy & holdLive

Score61Cap6.8%

10731 - 102 Street · Multi-family

10731 - 102 Street

Price

$455,000

Units (est.)

Cap rate

6.8%

DSCR

1.18x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score61/100

Worth reviewing · medium risk

Zoning Verify zoningCMHC fit 20/100Closing reserve $11,455Rent rules Low

Why 61: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

Buy & holdLive

Score52Cap5.5%

11446 92 St NW · Multi-family

11446 92 St NW

Price

$564,900

Units (est.)

Cap rate

5.5%

DSCR

0.95x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score52/100

Needs diligence · high risk

Zoning Verify zoningCMHC fit 5/100Closing reserve $11,565Rent rules Low

Why 52: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

1-6, 11446 92 Street NW · Apartment building, Edmonton

Buy & holdLive

Score52Cap5.5%

1-6, 11446 92 Street NW · Apartment building

1-6, 11446 92 Street NW

Price

$564,900

Units (est.)

Cap rate

5.5%

DSCR

0.95x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score52/100

Needs diligence · high risk

Zoning Verify zoningCMHC fit 5/100Closing reserve $11,565Rent rules Low

Why 52: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

9315 108A Avenue NW · Multi-family, Edmonton

Buy & holdLive

Score50Cap5.2%

9315 108A Avenue NW · Multi-family

9315 108A Avenue NW

Price

$599,900

Units (est.)

Cap rate

5.2%

DSCR

0.89x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score50/100

Needs diligence · high risk

Zoning Verify zoningCMHC fit 5/100Closing reserve $11,600Rent rules Low

Why 50: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

10438 147 ST NW · Detached rental, Edmonton

Buy & holdLive

Score42Cap4.1%

10438 147 ST NW · Detached rental

10438 147 ST NW

Price

$299,649

Units

Cap rate

4.1%

DSCR

0.71x

Rents are estimates — the income score carries a haircut until the rent roll is verified

AssetAvenue Score42/100

Needs diligence · high risk

Zoning Verify zoningCMHC fit 5/100Closing reserve $11,300Rent rules Low

Why 42: Rents are estimates — the income score carries a haircut until the rent roll is verified

Open Deal Room

Edmonton underwriting questions

What cap rate should I expect on an Edmonton fourplex?: Current screen: 1.3% - 3.7%. From 81 active Realtor.ca listings (10th–90th percentile). A fourplex is conventional financing — MLI Select starts at five units. Confirm NOI from the rent roll; street and condition move the print.
How tight is vacancy in Edmonton?: CMHC purpose-built vacancy is 3.0% as of October 2024. Small multifamily can run tighter or looser than the metro survey.
What strategies fit Edmonton?: BRRRR, Value-add, Small multifamily, CMHC/MLI Select. Rent rules: Low.
Does AssetAvenue cover Canadian income property in Edmonton?: Yes. This desk underwrites Edmonton, AB income property at the qualifying rate, with CMHC and Bank of Canada context where we have it.