{"id":5730,"date":"2021-04-07T13:44:00","date_gmt":"2021-04-07T04:44:00","guid":{"rendered":"http:\/\/irikorea.com\/?p=5730"},"modified":"2022-05-15T21:47:18","modified_gmt":"2022-05-15T12:47:18","slug":"cap-rate","status":"publish","type":"post","link":"https:\/\/irikorea.com\/en\/cap-rate\/","title":{"rendered":"What is Cap. Rate?"},"content":{"rendered":"<div class=\"wp-block-getwid-section alignfull alignfull getwid-section-content-full-width\"><div class=\"wp-block-getwid-section__wrapper\"><div class=\"wp-block-getwid-section__inner-wrapper\"><div class=\"wp-block-getwid-section__background-holder\"><div class=\"wp-block-getwid-section__background\"><\/div><div class=\"wp-block-getwid-section__foreground\"><\/div><\/div><div class=\"wp-block-getwid-section__content\"><div class=\"wp-block-getwid-section__inner-content\">\n<h2 class=\"wp-block-heading\">1. What is Cap. Rate?<\/h2>\n\n\n\n<p>\u201cCapitalization Rate\u201d\ub294 \uac00\uaca9 \ub300\ube44 \uc21c\uc774\uc775\uc744 \ub098\ud0c0\ub0b4\ub294 \ube44\uc728\ub85c\uc11c \u201c\uc790\ubcf8\ud658\uc6d0\uc728\u201d\uc774\ub77c\uace0 \ubc88\uc5ed\ud558\uae30\ub3c4 \ud558\uc9c0\ub9cc \uadf8\ub0e5 \u201c\ucea1 \ub808\uc774\ud2b8(Cap Rate)\u201d\ub77c\uace0 \uc4f4\ub2e4.<\/p>\n\n\n\n<div class=\"wp-block-image is-style-default\"><figure class=\"alignright size-medium\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"176\" src=\"http:\/\/irikorea.com\/wp-content\/uploads\/2021\/02\/cap-rate-equation-300x176.png\" alt=\"\" class=\"wp-image-12369\" srcset=\"https:\/\/irikorea.com\/wp-content\/uploads\/2021\/02\/cap-rate-equation-300x176.png 300w, https:\/\/irikorea.com\/wp-content\/uploads\/2021\/02\/cap-rate-equation-18x12.png 18w, https:\/\/irikorea.com\/wp-content\/uploads\/2021\/02\/cap-rate-equation.png 611w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/figure><\/div>\n\n\n\n<p>\uc6b0\uce21 \ud45c\uc5d0\uc11c \ubcf4\ub4ef\uc774 Cap Rate\ub294 \uc6b4\uc601\uc5d0\uc11c \ubc1c\uc0dd\ud558\ub294 \ucd1d \uc218\uc775(NOI)\uc744 \uac00\uaca9\uc73c\ub85c \ub098\ub204\uc5b4\uc11c \uad6c\ud55c\ub2e4. \uc989, \uad6c\uc785\uc6d0\uac00\uc5d0 \ub300\ud55c \uc784\ub300\uc18c\ub4dd\uc758 \ube44\uc728\uc774\ub2e4. Cap Rate\ub294 \ud604\uc7ac\uc0c1\ud0dc\uc5d0\uc11c\uc758 \ubd80\ub3d9\uc0b0\uc758 \ud22c\uc790\uac00\uce58\ub97c \ub098\ud0c0\ub0b4\ub294 \uac00\uc7a5 \uae30\ubcf8\uc801\uc778 \uc9c0\ud45c\uc774\ub2e4.&nbsp; \ud22c\uc790\uc758 \ubc29\uc2dd\uc774\ub098, \uc790\ubcf8\uc758 \uad6c\uc131, \ub300\ucd9c\uc758 \ube44\uc728, \uc774\uc790\uc728, \ub610\ub294 \uc18c\ub4dd\uc138 \ub4f1\uc758 \uc678\uc801 \uc694\uc778\uc744 \ubaa8\ub450 \uc81c\uc678\ud558\uace0 \ud604\uc7ac\uc758 \uacf5\uc2e4\uc728, \uc784\ub300\ub8cc \ub4f1\ub9cc\uc744 \uace0\ub824\ud55c \uc21c\uc218\ud55c \ud22c\uc785 \ub300\ube44 \uc0b0\ucd9c\uc744 \ub098\ud0c0\ub0b4\ub294 \uac83\uc774\ub2e4.<\/p>\n\n\n\n<p>\ubbf8\ub798\uac00\uce58, \uc989, \ub9e4\uc785\ud574\uc11c \uad00\ub9ac\ub97c \uc798\ud55c\ub2e4\ub4e0\uac00, \uacf5\uc2e4\uc728\uc774 \uc904\uc5b4\ub4e0\ub2e4\ub294\uac00, \uc784\ub300\ub8cc\uac00 \uc624\ub974\uac70\ub098 \ub0b4\ub9ac\ub294 \ub4f1 \ubbf8\ub798\uc758 \uac00\ub2a5\uc131\uc774\ub098 \uba54\uc218\uc790\uc758 \ub178\ub825 \uc5ec\ud558\uc5d0 \uc0c1\uad00\uc5c6\uc774 \ud604\uc7ac \uc8fc\uc5b4\uc9c4 \uc0c1\ud0dc\uc5d0\uc11c\uc758 \uac00\uaca9 \ub300\ube44 \uc218\uc775\uc728\uc774\ub2e4.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. How to calculate Cap rate?<\/h2>\n\n\n\n<p>\ub2e4\ub978 \uc678\uc801\uc778 \uc694\uc18c\ub4e4\uc744 \uc81c\uc678\ud558\uace0 \uc21c\uc218\ud558\uac8c \uc218\uc785\uacfc \uc9c0\ucd9c \ub9cc\uc744 \uacc4\uc0b0\ud558\uac8c \ub41c\ub2e4. \uc774 \ub450\uac00\uc9c0 \uc694\uc18c\ub294 \uc21c\uc601\uc5c5\uc774\uc775(NOI, Net Operating Income)\uc640 \uac00\uaca9(Cost or Value)\uc774\ub2e4.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\uac00\uaca9(Price)<\/h3>\n\n\n\n<p>\uac00\uaca9(Cost)\uc740 \ub9e4\uc785\uac00\uaca9(\ub610\ub294 \ub9e4\uc785\uc608\uc0c1\uac00\uaca9)\uc744 \ub9d0\ud558\uba70 \uc77c\ubc18\uc801\uc73c\ub85c \ub9d0\ud558\ub294 \u2018\uc2dc\uc7a5\uac00\uaca9(Market Price)\u2019\uc774\ub098 \uc2dc\uc7a5\uac00\uce58(Market Value)\uc640 \uad6c\ubd84\ud574\uc57c \ud55c\ub2e4. (\ubd80\ub3d9\uc0b0\uc5d0\uc11c \ub9d0\ud558\ub294 \u201c\uac00\uce58(Value)\u201d\uc640 \u201c\uac00\uaca9(Price)\u201d\uc5d0 \ub300\ud574\uc11c\ub294 \ubcc4\ub3c4\ub85c \ub2e4\ub8e8\uaca0\ub2e4.)<\/p>\n\n\n\n<p>\uc5ec\ub7ec \ucc38\uace0\uc790\ub8cc\ub4e4\uc744 \ubcf4\uba74 \u201cValue\u201d\ub77c\uace0\ub3c4 \uc598\uae30\ud558\ub294\ub370, \uc815\ud655\ud558\uac8c\ub294 \u201cCapital Costs\u201d\uac00 \ub9de\ub2e4. \ub9e4\uc785\uc2dc \uc18c\uc694\ub418\ub294 \ub9e4\uc785\ube44\uc6a9(Commission, Transfer Tax, Legal &amp; Accounting Fees, etc.)\ub3c4 \ud3ec\ud568\ub418\uae30 \ub54c\ubb38\uc774\ub2e4.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\uc21c\uc6b4\uc601\uc218\uc775(NOI, Net Operating Income)<\/h3>\n\n\n\n<p>NOI\ub294 \ubd80\ub3d9\uc0b0 \uc6b4\uc601\uc5d0\uc11c \ubc1c\uc0dd\ud558\ub294 \uc218\uc785\uc5d0\uc11c \uc6b4\uc601\ube44\uc6a9\uc744 \ube80 \uac83\uc744 \ub9d0\ud55c\ub2e4. (&nbsp;NOI = \uc218\uc785(Revenue) \u2013 \uc9c0\ucd9c(Expenses)&nbsp;) \ub108\ubb34 \uc27d\ub2e4. NOI\uac00 \uacc4\uc0b0\uc774 \ub418\uba74, \uc5ec\uae30\uc11c Cap rate\ub97c \uacc4\uc0b0\ud558\uace0, NOI\uc5d0 \uae30\ucd08\ud558\uc5ec \ub300\ucd9c\uae08 \uc0c1\ud658 \ub4f1\uc744 \uace0\ub824\ud55c Cashflow\ub97c \uc0b0\ucd9c\ud558\uace0 \ud22c\uc790\uc218\uc775(ROI, Return on Investment)\uc744 \uad6c\ud558\uac8c \ub418\ubbc0\ub85c NOI\uc758 \uc0b0\uc815\uc740 \ud22c\uc790\ub97c \ud310\ub2e8\ud558\ub294 \uae30\ucd08\uac00 \ub41c\ub2e4 \ud558\uaca0\ub2e4.<\/p>\n\n\n\n<p>\uc6d0\uce59\uc801\uc778 \uc758\ubbf8\uc5d0\uc11c\uc758 Cap rate \uacc4\uc0b0\uc5d0 \uc4f0\uc774\ub294 NOI \uc0b0\uc815\uc2dc \uc218\uc785\uacfc \uc9c0\ucd9c\uc5d0 \uac01\uac01 \uc5b4\ub5a4 \ud56d\ubaa9\uc774 \ud3ec\ud568\ub418\uace0 \uc81c\uc678\ub418\ub294\uc9c0 \uc54c\uc544\ubcf4\uc790.<\/p>\n\n\n\n<div class=\"wp-block-stackable-divider is-style-bar stk-block-divider stk-block stk-3c36bb0\" data-block-id=\"3c36bb0\"><style>.stk-3c36bb0{margin-bottom:22px !important}.stk-3c36bb0 hr.stk-block-divider__hr{background:var(--theme-palette-color-5,#e2eaf5) !important}<\/style><hr class=\"stk-block-divider__hr\"\/><\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading\">\uc218\uc785(Real Estate Revenue)<\/h5>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>\uc784\ub300\uc218\uc785<\/li><li>\uac74\ubb3c\uc5d0\uc11c \ubc1c\uc0dd\ud558\ub294 \uc8fc\ucc28\ube44, \uc625\uc678\uad11\uace0 \ub4f1<\/li><li>\uc138\ud0c1\uc2e4 \ub4f1 \ubd80\ub300\uc2dc\uc124\uc758 \uc218\uc785\uc744 \ud3ec\ud568\ud55c \uc784\ub300\ub8cc \uc678\uc758 \uc218\uc785<\/li><\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"wp-block-heading\">\uc9c0\ucd9c(Operating Expenses)<\/h5>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>Tax : \uc7ac\uc0b0\uc138\ub4f1 \uac74\ubb3c\uc5d0 \ubd80\uacfc\ub418\ub294 \uac01\uc885 \uacfc\uc138<\/li><li>Maintenance: \uc720\uc9c0\ubcf4\uc218, \uad00\ub9ac\ube44\uc6a9(\uad00\ub9ac\ube44, \ud68c\uacc4,\ubc95\ubb34\ube44\uc6a9, \uc804\uae30\uc218\ub3c4\ub8cc \ub4f1 Utilities, \uccad\uc18c \ub4f1)<\/li><li>Insurance: \uac74\ubb3c \uad00\ub828 \ubcf4\ud5d8<\/li><\/ul>\n<\/div>\n<\/div>\n\n\n\n<blockquote class=\"wp-block-stackable-blockquote is-style-default stk-block-blockquote stk-block stk-b19fa6b\" data-block-id=\"b19fa6b\"><style>.stk-b19fa6b{padding-top:12px !important;padding-right:12px !important;padding-bottom:12px !important;padding-left:12px !important;margin-top:0px !important;margin-right:0px !important;margin-bottom:0px !important;margin-left:0px !important}.stk-b19fa6b-container{background-color:var(--theme-palette-color-8,#ffffff) !important}.stk-b19fa6b-container:before{background-color:var(--theme-palette-color-8,#ffffff) !important}.stk-b19fa6b-container{border-radius:5px !important;overflow:hidden !important;box-shadow:8px 8px 8px -6px rgba(109,109,109,0.1) !important;border-style:solid !important;border-color:var(--theme-palette-color-5,#e2eaf5) !important;border-top-width:1px !important;border-right-width:1px !important;border-bottom-width:1px !important;border-left-width:1px !important}<\/style><div class=\"has-text-align-left stk-block-blockquote__content stk-container stk-b19fa6b-container stk-hover-parent\"><div class=\"stk-block-content stk-inner-blocks\">\n<div class=\"wp-block-stackable-icon stk-block-icon stk-block stk-17b3680\" data-block-id=\"17b3680\"><span class=\"stk--svg-wrapper\"><div class=\"stk--inner-svg\"><svg style=\"height:0;width:0\"><defs><lineargradient id=\"linear-gradient-17b3680\" x1=\"0\" x2=\"100%\" y1=\"0\" y2=\"0\"><stop offset=\"0%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-17-b-3680-color-1)\"><\/stop><stop offset=\"100%\" style=\"stop-opacity:1;stop-color:var(--linear-gradient-17-b-3680-color-2)\"><\/stop><\/lineargradient><\/defs><\/svg><svg aria-hidden=\"true\" data-prefix=\"fas\" data-icon=\"asterisk\" class=\"svg-inline--fa fa-asterisk fa-w-16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 512 512\" width=\"32\" height=\"32\"><path fill=\"currentColor\" d=\"M478.21 334.093L336 256l142.21-78.093c11.795-6.477 15.961-21.384 9.232-33.037l-19.48-33.741c-6.728-11.653-21.72-15.499-33.227-8.523L296 186.718l3.475-162.204C299.763 11.061 288.937 0 275.48 0h-38.96c-13.456 0-24.283 11.061-23.994 24.514L216 186.718 77.265 102.607c-11.506-6.976-26.499-3.13-33.227 8.523l-19.48 33.741c-6.728 11.653-2.562 26.56 9.233 33.037L176 256 33.79 334.093c-11.795 6.477-15.961 21.384-9.232 33.037l19.48 33.741c6.728 11.653 21.721 15.499 33.227 8.523L216 325.282l-3.475 162.204C212.237 500.939 223.064 512 236.52 512h38.961c13.456 0 24.283-11.061 23.995-24.514L296 325.282l138.735 84.111c11.506 6.976 26.499 3.13 33.227-8.523l19.48-33.741c6.728-11.653 2.563-26.559-9.232-33.036z\"><\/path><\/svg><\/div><\/span><\/div>\n\n\n\n<div class=\"wp-block-stackable-text stk-block-text stk-block stk-e7161a0\" data-block-id=\"e7161a0\"><style>.stk-e7161a0 .stk-block-text__text{text-shadow:none !important;font-size:14px !important;font-weight:600 !important}@media screen and (max-width:999px){.stk-e7161a0 .stk-block-text__text{font-size:14px !important}}<\/style><p class=\"stk-block-text__text\">\ucc38\uace0: \ud55c\uad6d\uc758 \uac74\ubb3c \ub4f1\uc5d0\uc11c\ub294 \uad00\ub9ac\ube44\ub97c \uc784\ub300\ub8cc\ucc98\ub7fc \ubc1b\uae30\ub3c4 \ud55c\ub2e4. \ud558\uc9c0\ub9cc \uc678\uad6d\uc758 \uacbd\uc6b0\uc5d0\ub294 \ub300\ubd80\ubd84 \uad00\ub9ac\ube44\ub294 \ubcc4\ub85c\ub85c \uc815\uc0b0\ud558\uae30 \ub54c\ubb38\uc5d0 \uc218\uc785\uc73c\ub85c \uc7a1\uc73c\uba74 \uc548\ub41c\ub2e4. \uc544\ud30c\ud2b8 \uad00\ub9ac\ube44\ub294 \ubb3c\ub860\uc774\uace0, \uc0ac\ubb34\uc2e4\uac74\ubb3c\uc774\ub098 \uc0c1\uac00 \uac74\ubb3c\ub3c4 \ub9c8\ucc2c\uac00\uc9c0\uc774\ub2e4.  \ub2f9\ud574\ub144\ub3c4\uc5d0\ub294 \uc774\uc804\ub144\ub3c4\uc758 \uad00\ub9ac\ube44 \uc9c0\ucd9c\ub0b4\uc5ed\uc744 \uae30\ucd08\ub85c \ud3c9\ub2f9(per square foot)\uad00\ub9ac\ube44\ub97c \uc0b0\uc815\ud558\uc5ec \ubd80\uacfc\ud558\uace0, \ub144\ub9d0\uc5d0 \uc815\uc0b0\ud558\ub294 \uac83\uc774 \uc815\uc0c1\uc774\ub2e4. \uadf8\ub798\uc11c \ud55c\uad6d\ucc98\ub7fc \ud3c9\ub2f9 2\ub9cc\uc6d0 \ud558\ub294 \uc2dd\uc758 \ubc29\uc2dd\uc774 \uc544\ub2c8\uace0, \ub300\ubd80\ubd84 \ub2e8\uc704\uba74\uc801\ub2f9 \uc13c\ud2b8 \ub2e8\uc704\ub85c \ubd80\uacfc\ud55c\ub2e4.<\/p><\/div>\n<\/div><\/div><\/blockquote>\n\n\n\n<div class=\"wp-block-stackable-divider is-style-bar stk-block-divider stk-block stk-e211238\" data-block-id=\"e211238\"><style>.stk-e211238{margin-bottom:22px !important}.stk-e211238 hr.stk-block-divider__hr{background:var(--theme-palette-color-5,#e2eaf5) !important}<\/style><hr class=\"stk-block-divider__hr\"\/><\/div>\n\n\n\n<h4 class=\"tw-mb-0 wp-block-heading\">Example:<\/h4>\n\n\n\n<div class=\"wp-block-columns tw-mt-0 is-layout-flex wp-container-core-columns-is-layout-28f84493 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"tw-mb-0 wp-block-heading\">\uac74\ubb3c\ub9e4\uc785\uac00: $1,000,000<\/h5>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>\uc6b4\uc601\uc218\uc785: $270,000<ul><li>\uc784\ub300\ub8cc: $150,000<\/li><li>\uc8fc\ucc28 \ubc0f \uae30\ud0c0\uc218\uc785: $20,000<\/li><li>\uad00\ub9ac\ube44 \ub4f1: $100,000<\/li><\/ul><\/li><li>\uc9c0\ucd9c: $170,000<ul><li>\uc7ac\uc0b0\uc138 \ub4f1: $ 20,000<\/li><li>\uad00\ub9ac, \uc720\uc9c0\ubcf4\uc218: $120,000<\/li><li>\ubcf4\ud5d8\ub8cc: $30,000<\/li><\/ul><\/li><\/ul>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<h5 class=\"tw-mb-0 wp-block-heading\">NOI \ubc0f CAP Rate \uacc4\uc0b0<\/h5>\n\n\n\n<p>NOI = \uc218\uc785 \u2013 \uc9c0\ucd9c<\/p>\n\n\n\n<p>= $270,000 \u2013 $170,000 = $100,000<\/p>\n\n\n\n<div class=\"wp-block-stackable-spacer stk-block-spacer stk--no-padding stk-block stk-0acfef9\" data-block-id=\"0acfef9\"><\/div>\n\n\n\n<p>Cap Rate = NOI \/ Cost<\/p>\n\n\n\n<p>= $100,000 \/ $1,000,000 = 10%<\/p>\n<\/div>\n<\/div>\n\n\n\n<p>Cap Rate\ub294 \uc704\uc640 \uac19\uc774 \uac04\ub2e8\ud558\uac8c \uacc4\uc0b0\ud574 \ubcfc \uc218 \uc788\ub2e4. \uc5ec\uae30\uc11c NOI\uc5d0 \ub300\ud574 \uc870\uae08 \ub354 \uc0b4\ud3b4\ubcf4\uc790. \uc704\uc5d0\uc11c\ub294 \uc6d0\uce59\uc801\uc778 \uac00\uc815 \ud558\uc5d0 \uc2e4\uc81c \uc9c0\ucd9c\ube44\uc6a9 \ub9cc\uc744 \uace0\ub824\ud558\uc5ec NOI\ub97c \uacc4\uc0b0\ud558\uc600\uc73c\ub098, \uc2e4\uc81c\ub294 \uc218\uc785\uacfc \uc9c0\ucd9c\uc744 \uc870\uae08 \ub354 \uc77c\ubc18\ud654\ud558\uc5ec \uacc4\uc0b0\ud558\uac8c \ub41c\ub2e4.<\/p>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>(1) Gross operating income = (2) Gross potential income \u2013 (3) Vacancy and credit loss<\/li><li>(4) Net operating income = (1) Gross operating income \u2013 (5) Operating expenses<\/li><\/ul>\n\n\n\n<p>\uc5ec\uae30\uc11c GPI\ub294 \uac00\ub2a5\ud55c \ucd5c\ub300 \uc218\uc785\uc744 \ub9d0\ud55c\ub2e4.&nbsp; \uc2dc\uc138\uc5d0 \ub530\ub978 \ucd1d\uc784\ub300\uc218\uc785\uacfc \uae30\ud0c0\uc218\uc785\uc744 \ud3ec\ud568\ud55c\ub2e4.<\/p>\n\n\n\n<p>(3)\uc758 \u2018Vacancy\u2019\ub294 \uc138\uc785\uc790\uc758 \ud1f4\uac70\uc640 \uc785\uc8fc \uc0ac\uc774\uc5d0 \ubc1c\uc0dd\ud558\ub294 \uacf5\uc2e4\uc744 \uace0\ub824\ud558\uc5ec \ud3c9\uade0\uacf5\uc2e4\uc728\uc744 \uc801\uc6a9\ud558\ub294 \ub370, \uc9c0\uc5ed\uc758 \uc2dc\uc7a5 \uc0c1\ud669\uacfc \uc720\uc0ac \uac74\ubb3c\uc758 \ud3c9\uade0\uacf5\uc2e4\uc728\uc744 \uc801\uc6a9\ud558\uac8c \ub41c\ub2e4. \uc77c\ubc18\uc801\uc73c\ub85c 5% \ub0b4\uc678\ub97c \uc801\uc6a9\ud55c\ub2e4. \uac74\ubb3c\uc8fc\uc758 \uc785\uc7a5\uc5d0\uc11c \uc774 \uacf5\uc2e4\uc728\uc744 \ub0ae\ucd94\uae30 \uc704\ud574 1~2\ub144\uc758 \ub2e8\uae30\uacc4\uc57d\ubcf4\ub2e4\ub294 5~10\ub144\uc758 \uc7a5\uae30\uc784\ub300\ub97c \uc120\ud638\ud558\ub294 \uc774\uc720\uc774\ub2e4. \uc784\ub300\uc2dc\uc7a5\uc758 \uc0c1\ud669\uc774 \uc88b\uc9c0 \uc54a\uc744 \ub54c\ub294 \uc785\uc8fc\ub97c \ucd09\uc9c4\ud558\uae30 \uc704\ud574\uc11c \uc778\ud14c\ub9ac\uc5b4 \uae30\uac04 \ub4f1\uc744 \ud3ec\ud568\ud55c \u2018Rent Free\u2019\uae30\uac04\ub3c4 \uc784\ucc28\uc778\uc5d0\uac8c \uc81c\uacf5\ud558\uae30 \ub54c\ubb38\uc5d0 \uacf5\uc2e4\uc728\uc740 \ub354 \ub192\uc544\uc9c8 \uc218\ub3c4 \uc788\ub2e4.&nbsp; (3)\uc758 \u2018Credit Loss\u2019\ub294 \ud68c\uc218\ubd88\uac00\ub2a5\ud55c \uc784\ub300\ub8cc\ub97c \ub9d0\ud55c\ub2e4. \uc784\ub300\uacc4\uc57d\uc2dc \uc784\ucc28\uc778\uc758 \uc2e0\uc6a9\ub3c4\ub97c \ubcf4\ub294 \uc774\uc720\ub3c4 \uc774\ub7ec\ud55c \uc774\uc720\uc774\ub2e4.<\/p>\n\n\n\n<p>GPI(Gross Potential Income)\uc640 Vacancy\/Credit Loss\ub97c \uc801\uc6a9\ud558\ub294 \uacfc\uc815\uc5d0\uc11c \uc5b4\ub5a4 \uc218\uce58\ub97c \uc801\uc6a9\ud558\ub294\uac00\uc5d0 \ub530\ub77c\uc11c NOI\uac00 \uc2e4\uc81c\ubcf4\ub2e4 \ub192\uac70\ub098 \ub0ae\uac8c \uc0b0\uc815\ub420 \uc218 \uc788\uc73c\ubbc0\ub85c \uc2e0\uc911\ud558\uac8c \uc9c0\uc5ed\uc801, \uc2dc\uc7a5\uc0c1\ud669\uc744 \uace0\ub824\ud558\uc5ec\uc57c \ud55c\ub2e4.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. How to read and use cap rate?<\/h2>\n\n\n\n<p>Cap Rate\ub294 \uc0c1\uc5c5\uc6a9 \ubd80\ub3d9\uc0b0\uc758 \ud22c\uc790 \uc2dc\uc5d0 \ub354 \uc0c1\uc138\ud55c \ubd84\uc11d\uc744 \ud558\uae30 \uc804\uc5d0 1\ucc28\uc801\uc73c\ub85c \uac80\ud1a0\ud558\uac8c \ub418\ub294 \ud56d\ubaa9\uc774\ub2e4.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>\ud22c\uc790 \uc2dc\uc5d0\ub294 Cap Rate\uc640 \ud568\uaed8 \uc790\uae30\uc790\ubcf8 \ube44\uc728\uacfc Loan\uc758 \uc774\uc790\uc728\uc5d0 \ub530\ub77c ROI(Rerurn on Investment)\uac00 \ub2ec\ub77c\uc9c0\ub294\ub370, \uc774\ub294 Cap rate\uc640 \uc774\uc790\uc728\uacfc\uc758 \ucc28\uc774 \ub54c\ubb38\uc5d0 \uc0dd\uae30\ub294 Leverage \ud6a8\uacfc \ub54c\ubb38\uc774\ub2e4. \uc774\ub294 \ud22c\uc790\uc790\uc758 \uc870\uac74\uacfc \uc0c1\ud669\uc5d0 \ub530\ub77c \ub2e4\ub974\uae30 \ub54c\ubb38\uc5d0 \uac19\uc740 \uac74\ubb3c\uc5d0 \ub300\ud574\uc11c\ub3c4 ROI\ub294 \ub2e4\ub974\uac8c \ub418\ub294\ub370 \uc774\ub294 \ubcc4\ub85c\ub3c4 \uc790\uc138\ud788 \uc0b4\ud3b4\ubcf4\ub3c4\ub85d \ud55c\ub2e4.<\/li><li>Cap Rate \uacc4\uc0b0 \uc2dc\uc5d0\ub294 \ud604\uae08 \ud750\ub984\uc744 \uace0\ub824\ud558\uc9c0 \uc54a\uace0 \uc7ac\uc0b0\uc138 \uc678\uc5d0\ub294 \uc18c\ub4dd\uc138\ub3c4 \uacc4\uc0b0\ud558\uc9c0 \uc54a\uace0 \uac10\uac00\uc0c1\uac01\ub3c4 \ud558\uc9c0 \uc54a\ub294\ub2e4. \ucc38\uace0\ub85c \ud604\uae08\ud750\ub984\uc744 \uacc4\uc0b0\ud560 \ub54c\ub294 NOI\uc5d0\uc11c Debt service(\ub300\ucd9c\uc6d0\ub9ac\uae08 \uc0c1\ud658)\ub97c \ube7c\uc11c \uc138\uc804\ud604\uae08\ud750\ub984(Cashflow Before Tax)\uc744 \uacc4\uc0b0\ud558\uace0, \uc5ec\uae30\uc11c \uc18c\ub4dd\uc138 \ub4f1\uc744 \uc81c\ud558\uba74, \uc2e4\uc81c \ud604\uae08\ud750\ub984\uc744 \uc54c \uc218 \uc788\ub2e4. \ud604\uae08\ud750\ub984\uacfc \uac10\uac00\uc0c1\uac01\uc744 \ube44\ub86f\ud55c \ud68c\uacc4\uc0c1\uc758 \uc774\uc288\ub4e4\uc740 \ubcc4\ub3c4\ub85c \uc0b4\ud3b4\ubcf4\ub3c4\ub85d \ud558\uaca0\uc9c0\ub9cc,&nbsp; \ud574\ub2f9\uc9c0\uc5ed\uc758 \ud68c\uacc4\/\uc138\ubb34\/\ubc95\ub960\uc804\ubb38\uac00\uc640\uc758 \uc0c1\ub2f4 \ubc0f \ucee8\uc124\ud305\uc774 \ubc18\ub4dc\uc2dc \ud544\uc694\ud558\ub2e4.<\/li><\/ul>\n\n\n\n<p>\uacb0\ub860\uc740 Cap Rate\ub294 \ud22c\uc790\uc790\uc758 \uc7ac\uc815\uc0c1\ud669\uc774\ub098, Loan\uc870\uac74 \ub4f1\uc744 \uace0\ub824\ud558\uc9c0 \uc54a\uc740 \uc21c\uc218\ud558\uac8c \ud604\uc7ac \uac00\uaca9\uc5d0 \uc0c0\uc744 \ub54c \uae30\ub300\ud560 \uc218 \uc788\ub294 \uc21c\uc218\ud55c \uac74\ubb3c\uc758 \uc218\uc775\uc728\uc744 \ub9d0\ud558\ub294 \uac83\uc774\ub2e4.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\uac00\uce58\ud3c9\uac00(Valuation)\uc640 \ube44\uad50(Comparison)<\/h3>\n\n\n\n<p>\ubd80\ub3d9\uc0b0 \ud22c\uc790\uc5d0 \uc788\uc5b4\uc11c \ubd80\ub3d9\uc0b0\uc758 \uac00\uaca9\uc744 \uc598\uae30\ud560 \ub54c, Cap rate\ub97c \ud1b5\ud574 \uac00\uce58\ub97c \ud3c9\uac00\ud55c\ub2e4. \uc989, Cap rate = NOI\/Cost \uc774\ubbc0\ub85c \uac70\uafb8\ub85c \uc801\uc815\uac00\uaca9(Capital Cost)\uc744 \ucc3e\uc73c\ub824\uba74 NOI\ub97c Cap rate\ub85c \ub098\ub204\uba74 \ub41c\ub2e4.<\/p>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>Capital Cost (asset price) = Net Operating Income\/ Cap. Rate<\/li><\/ul>\n\n\n\n<p>\ud574\ub2f9 \ubb3c\uac74\uc774 \uc18c\uc7ac\ud55c \uc9c0\uc5ed\uc758 Class A \uc624\ud53c\uc2a4 \ube4c\ub529\uc758 \ud3c9\uade0 Cap Rate\uac00 6.0% \uc774\uace0 \ub9e4\uc218\ud558\uace0\uc790 \ud558\ub294 \ud2b9\uc815\uac74\ubb3c(Class A)\uc758 NOI\uac00 $600,000\uc774\ub77c\uace0 \uac00\uc815\ud558\uc790. \uc801\uc815\uac00\uaca9\uc744 \uacc4\uc0b0\ud558\uae30 \uc704\ud558\uc5ec NOI\ub97c Cap rate\uc778 6.0%\ub85c \ub098\ub204\uba74 $10,000,000 \uc774 \ub41c\ub2e4.<\/p>\n\n\n\n<ul class=\"is-style-tw-border wp-block-list\"><li>Price(Capital Cost) = NOI($600,000) \/ Cap Tate (6%) = $10,000,000<\/li><\/ul>\n\n\n\n<p>\ub530\ub77c\uc11c \uac74\ubb3c\uc758 \ub9e4\ub3c4\uc790\uac00 \uc694\uad6c\ud558\ub294 \uae08\uc561(Asking Price)\uac00 $10million \uc774\uc0c1\uc774\uba74 \uc2dc\uc7a5\uac00\uaca9\uc5d0 \ube44\ud574 \ube44\uc2f8\ub2e4\uace0 \ubcfc \uc218 \uc788\uace0 \uadf8 \uc774\ud558\ub77c\uba74 \uc2f8\ub2e4\uace0 \ubcfc \uc218 \uc788\ub2e4.&nbsp; \uc608\ub97c \ub4e4\uc5b4 \uac19\uc740 \uac74\ubb3c\uc758 Asking Price\uac00 $9million\uc774\ub77c\uba74 Cap rate\ub294 6.6%\uac00 \ub418\ubbc0\ub85c \uc8fc\ubcc0 \uac74\ubb3c\uc758 6.0%\uc5d0 \ube44\ud574 \uc218\uc775\uc728\uc774 \uc88b\uc740 \uac83\uc774\uace0, $11million\uc774\ub77c\uba74 Cap rate\uac00 5.45%\uac00 \ub418\ubbc0\ub85c \uc2dc\uc7a5\uac00\uaca9\uc5d0 \ube44\ud574 \ube44\uc2fc \ud3b8\uc774 \ub418\ub294 \uac83\uc774\ub2e4.<\/p>\n\n\n\n<ul class=\"is-style-tw-dash wp-block-list\"><li>\uac19\uc740 Class A \uc624\ud53c\uc2a4\uac74\ubb3c\uc774\ub77c \ud558\ub354\ub77c\ub3c4 \uaddc\ubaa8\uac00 \ub2e4\ub974\uba74, NOI\uc758 \uaddc\ubaa8\uac00 \ub2e4\ub974\uace0, \ub530\ub77c\uc11c \uc218\uc775\ub9cc\uc744 \uac00\uc9c0\uace0 \ub2e8\uc21c\ube44\uad50\ud558\uae30\ub294 \uc5b4\ub835\ub2e4. \ub610\ud55c Class\uac00 \ub2e4\ub97c \uacbd\uc6b0\ub97c \ud3ec\ud568\ud574 \uc5ec\ub7ec\uac00\uc9c0 \ub2e4\ub978 \uc694\uc18c\ub4e4\uc774 \uc801\uc6a9\ub418\uba74 \uac00\uaca9\uc801\uc815\uc131\uc744 \ud310\ub2e8\ud558\uae30 \uc5b4\ub835\uac8c \ub41c\ub2e4. \uc774\ub54c \uc704\uc640 \uac19\uc774 \uc9c0\uc5ed\uc758 Cap rate\uc640 NOI, Price\ub97c \uacc4\uc0b0\ud558\uba74 \ube44\uad50\uc801 \uc27d\uac8c \uc218\uc775\ub960\uc744 \ube44\uad50\ud560 \uc218 \uc788\ub2e4.<\/li><li>\ud22c\uc790 \uacb0\uc815\uc744 \ud560 \ub54c, Cap rate\ub9cc\uc744 \ubcf4\uc9c0\ub294 \uc54a\ub294\ub2e4.&nbsp; \ud22c\uc790\ub294 \uc790\ubcf8\uc758 \uae30\ud68c\ube44\uc6a9, \uc131\uc7a5 \uac00\ub2a5\uc131, \uadf8\ub9ac\uace0 \ub9ac\uc2a4\ud06c \ud329\ud130 \ub4f1\uc744 \uc885\ud569\uc801\uc73c\ub85c \uace0\ub824\ud558\uc5ec \uacb0\uc815\ud558\uac8c \ub41c\ub2e4.<\/li><\/ul>\n\n\n\n<div class=\"wp-block-stackable-divider is-style-bar stk-block-divider stk-block stk-ebf5a94\" data-block-id=\"ebf5a94\"><style>.stk-ebf5a94{margin-bottom:0px !important}.stk-ebf5a94 hr.stk-block-divider__hr{background:var(--theme-palette-color-5,#e2eaf5) !important}<\/style><hr class=\"stk-block-divider__hr\"\/><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">\uacb0\ub860<\/h2>\n\n\n\n<ul class=\"is-style-tw-dash wp-block-list\"><li>Capitalization rate \uc740 \uac74\ubb3c\uc758 NOI\ub97c \ud604\uc7ac \uac00\uaca9\uc73c\ub85c \ub098\ub204\uc5b4\uc11c \uad6c\ud55c\ub2e4.<\/li><li>\uc774 \ud37c\uc13c\ud2b8\ub85c \ud45c\ud604\ub418\ub294 \ube44\uc728\uc740 \ubd80\ub3d9\uc0b0 \ud22c\uc790\ub85c\ubd80\ud130 \uc5bb\uc744 \uc218 \uc788\ub294 \uc608\uc0c1\uc218\uc775\uc744 \ubcf4\uc5ec\uc900\ub2e4.<\/li><li>Cap rate\ub294 \ube44\uc2b7\ud55c \ud22c\uc790\ubb3c\uac74\ub4e4 \uac04\uc758 \uc218\uc775\uc728 \ube44\uad50\uc5d0 \uac00\uc7a5 \uc720\uc6a9\ud558\uac8c \uc4f0\uc778\ub2e4.<\/li><\/ul>\n<\/div><\/div><\/div><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":2,"featured_media":12384,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3,11],"tags":[],"class_list":["post-5730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estates","category-cre-formula"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":7}},"_links":{"self":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts\/5730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/comments?post=5730"}],"version-history":[{"count":0,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/posts\/5730\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/media\/12384"}],"wp:attachment":[{"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/media?parent=5730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/categories?post=5730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irikorea.com\/en\/wp-json\/wp\/v2\/tags?post=5730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}