price per door

Definition

The total acquisition cost of a multifamily property divided by the number of rental units, providing a quick metric for comparing deals. It's how apartment investors reduce complex investments to a single number they can text each other.

Example Usage

At $95k per door, this 12-unit building is priced right for the neighborhood—though I'm guessing those doors come with tenants who haven't paid rent since March.

Origin

Multifamily real estate investment terminology

Fun Fact

Price per door varies wildly by market and property class, from under $50k in tertiary markets to over $500k in major coastal cities—proving location really is everything.

Source: Multifamily real estate investment terminology

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A property title free from liens, encumbrances, or legal questions about ownership, making it transferable without complications. It's what every buyer wants and what title insurance companies charge handsomely to verify.

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tenant at sufferance

A fancy legal term for someone who's overstaying their lease like an unwelcome houseguest who won't take the hint. They're technically trespassing but haven't been officially evicted yet, existing in a legal limbo of awkwardness.

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commingling

The illegal practice of mixing client funds (like earnest money) with personal or business operating accounts, a violation that can cost real estate agents their licenses. It's the financial equivalent of inviting the state licensing board to audit your worst decisions.

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titleholder

The lucky individual or entity whose name appears on the property deed as the legal owner, meaning they get to pay all the taxes, insurance, and maintenance while everyone else admires their investment. This person has the legal right to possess, use, and transfer the property—along with the accompanying mortgage payments. Being a titleholder is basically having your name on the most expensive piece of paper you'll ever own.

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coming soon

A property marketing status indicating a listing will be active shortly, used to generate buzz and pre-market the property before it officially hits the MLS. It's the real estate equivalent of a movie trailer, complete with the same level of hype.

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