Methodology and sources
Every figure the tools use comes from this list. Each parameter is versioned, dated and sourced; internal norms come from the blueprint and lender practice; the ones marked "estimate" have no official source yet and should be replaced by your own quotes.
Engine 0.1.0 · assumption set qc-sherbrooke-2026.09.28+boc-2026-10-14
How the numbers are built
- Three columns: the seller figures as given, the lender view (lease-verified rents, vacancy, expense floors) and the investor view.
- Mortgage payments use Canadian semi-annual compounding; the maximum loan is found by bisection with the financed premium included in the DCR test.
- Projections grow rents and expenses separately; the exit cap rate is never below the market cap rate, plus a spread.
- Every result is an estimate for education and decision support, not an appraisal or financial advice.
Municipal parameters by city (2026)
| City | 1-5 dwellings | 6+ dwellings | Fees per dwelling | Transfer duties above 500 000 $ |
|---|---|---|---|---|
| Montréal | 0.6511% | 0.6511% | $0.00 | 1.5% from $500,000 · 2.0% from $552,300 · 2.5% from $1,104,700 · 3.5% from $2,136,500 · 4.0% from $3,113,000 |
| Québec | 0.7464% | 0.7697% | $581.00 | 2.5% from $500,000 · 3.0% from $750,000 |
| Laval | 0.5909% | 0.7877% | $486.00 | 3.0% from $500,000 |
| Gatineau | 0.7471% * | 0.9211% | $178.83 | 3.0% from $500,000 |
| Longueuil | 0.7412% | 0.7986% | $10.00 | 1.5% from $500,000 · 3.0% from $630,100 |
| Sherbrooke | 0.7548% | 0.84% | $507.43 | 3.0% from $500,000 |
| Lévis | 0.68479% | 0.77549% | $661.00 | 3.0% from $500,000 |
| Saguenay | 0.9712% | 1.0705% | $694.00 | 2.5% from $500,000 · 3.0% from $1,000,000 |
| Trois-Rivières | 0.8603% | 0.8776% | $461.00 | 3.0% from $500,000 |
| Drummondville | 0.634% | 0.74% | $474.00 | 3.0% from $500,000 |
| Granby | 0.5592% | 0.5592% | $520.00 | 3.0% from $500,000 |
| Saint-Hyacinthe | 0.5395% | 0.6842% | $636.00 | 3.0% from $500,000 |
| Saint-Jean-sur-Richelieu | 0.5679% | 0.738% | $576.00 | 3.0% from $500,000 |
| Châteauguay | 0.5955% | 0.7938% | $1,201.00 | 1.5% from $500,000 · 3.0% from $615,600 |
| Terrebonne | 0.7121% | 0.8789% | $571.00 | 3.0% from $500,000 |
| Repentigny | 0.5861% | 0.7648% | $484.00 | 3.0% from $500,000 |
| Brossard | 0.5559% * | 0.6711% * | $29.00 | 3.0% from $500,000 |
| Saint-Jérôme | 0.572% | 0.737% | $422.00 | 3.0% from $500,000 |
| Rimouski | 0.705% | 0.705% | $554.00 | 3.0% from $500,000 |
| Shawinigan | 1.0187% | 1.1611% | $787.50 | 3.0% from $500,000 |
| Victoriaville | 0.771% | 0.835% | $618.00 | 3.0% from $500,000 |
| Blainville | 0.466% | 0.562% | $435.00 | 1.5% from $500,000 · 3.0% from $750,000 |
Rates per 100 $ of assessment, city-wide special taxes included. Hover a row for its sources. * estimate (see source).
Montréal (residential rate by borough, city-wide 0.5556 included) : Ahuntsic-Cartierville 0.6503% · Anjou 0.7403% · Côte-des-Neiges–Notre-Dame-de-Grâce 0.6359% · L’Île-Bizard–Sainte-Geneviève 0.7248% · Lachine 0.6312% · LaSalle 0.6466% · Le Plateau-Mont-Royal 0.6511% · Le Sud-Ouest 0.6525% · Mercier–Hochelaga-Maisonneuve 0.6753% · Montréal-Nord 0.738% · Outremont 0.6337% · Pierrefonds-Roxboro 0.6684% · Rivière-des-Prairies–Pointe-aux-Trembles 0.71% · Rosemont–La Petite-Patrie 0.6591% · Saint-Laurent 0.6526% · Saint-Léonard 0.6821% · Verdun 0.6562% · Ville-Marie 0.6229% · Villeray–Saint-Michel–Parc-Extension 0.6597%
Parameters (Sherbrooke, Quebec)
| Parameter | Value | Source | Status |
|---|---|---|---|
vacancy | 3% | SCHL, Enquête sur les logements locatifs, octobre 2025 : 2,7 % pour la RMR de Sherbrooke (fiabilité a), arrondi prudent à 3 % | Public source |
bad_debt | 0% | Plan directeur 2026-09-28, section 31.4 (1 % à calibrer, 0 dans les études de cas) | Internal norm |
tal.base_pct | 3.1% | TAL, taux de base 2026 (baux débutant du 2 avril 2026 au 1er avril 2027), moyenne de l’IPC sur trois ans | Public source |
tal.major_works_rate | 5% | Règlement sur les critères de fixation de loyer, décret 1455-2025 (Gazette officielle, 17 décembre 2025), art. 3 : 5 % du coût des travaux majeurs par année, en vigueur depuis le 1er janvier 2026 | Public source |
tax.municipal.1_unit | 0.6933% | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : immeubles résiduels, 1 logement | Public source |
tax.municipal.2_5_units | 0.7548% | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : 2 à 5 logements | Public source |
tax.municipal.6_20_units | 0.84% | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : 6 à 20 logements | Public source |
tax.municipal.21_plus_units | 0.8312% | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : 21 logements et plus | Public source |
water.per_unit.small | $507.43 / unit | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : eau 219,08 $ + assainissement 288,35 $ par logement (1 à 4 logements) | Public source |
water.per_unit.multi | $446.30 / unit | Ville de Sherbrooke, Compte de taxes municipales, taux 2026 (sherbrooke.ca, consulté le 2026-09-28) : eau 191,70 $ + assainissement 254,60 $ par logement (5 logements et plus) | Public source |
tax.school.rate | 0.07899% | Taux unique provincial 2026-2027, Gazette officielle du Québec (15 juin 2026), repris par les centres de services scolaires (gouv.qc.ca) | Public source |
tax.school.exemption | $25,000 | Exemption des premiers 25 000 $ (centres de services scolaires, gouv.qc.ca) | Public source |
insurance.per_unit.small | $1,000 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
insurance.per_unit.multi | $1,100 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
commons_energy.per_unit | $100 / unit | Plan directeur 2026-09-28, section 31.4 (forfait du cas 1) | Internal norm |
heating.per_unit | $1,200 / unit | Norme interne à calibrer (chauffage inclus) | Estimate |
maintenance.per_unit | $700 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
maintenance.per_unit.old | $750 / unit | Plan directeur 2026-09-28, section 31.4 (construit avant 1980) | Internal norm |
janitor.per_unit | $450 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
janitor.min_units | 4 | Politique interne | Internal norm |
reserve.per_unit.small | $300 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
reserve.per_unit.multi | $350 / unit | Plan directeur 2026-09-28, section 31.4 | Internal norm |
snow.per_unit | $300 / unit | Plan directeur 2026-09-28, section 31.4 (contrat du cas 1) | Internal norm |
management.pct.small | 5% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
management.pct.multi | 4.5% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
rate.insured.5y | 4.26% | Obligation du Canada 5 ans 3,55 % (Banque du Canada, 2026-10-14) + écart estimé 0,71 % | Estimate |
rate.conventional.5y | 4.9% | Obligation du Canada 5 ans 3,55 % (Banque du Canada, 2026-10-14) + écart estimé 1,35 % | Estimate |
spread.insured.5y | 0.71% | Écart du taux assuré 5 ans sur l’obligation du Canada 5 ans, calibré le 2026-09-28 (nesto 4,39 % ; obligation 3,68 %) | Estimate |
spread.conventional.5y | 1.35% | Écart du taux conventionnel 5 ans sur l’obligation du Canada 5 ans, calibré le 2026-09-28 (nesto 5,03 % ; obligation 3,68 %) | Estimate |
rate.cmhc_multi.10y | 4.95% | Obligation du Canada 10 ans 3,85 % (Banque du Canada, 2026-10-14) + écart estimé 1,10 % | Estimate |
rate.commercial.5y | 5.55% | Obligation du Canada 5 ans 3,55 % (Banque du Canada, 2026-10-14) + écart estimé 2,00 % | Estimate |
spread.cmhc_multi.10y | 1.1% | Écart estimé des prêts multilogements assurés SCHL de 10 ans sur l’obligation du Canada 10 ans, à confirmer par soumission | Estimate |
spread.commercial.5y | 2% | Écart estimé des prêts commerciaux conventionnels de 5 ans sur l’obligation du Canada 5 ans, à confirmer par soumission | Estimate |
rate.private | 8.5% | Plan directeur 2026-09-28, section 31.4 (cas 3) | Estimate |
cap_rate.plex | 5.5% | Plan directeur 2026-09-28, section 31.4 | Estimate |
turnover.renovation_per_unit | $0 / unit | Choix de l’investisseur : relocation au loyer affiché sans rénovation (clause G : le nouveau locataire peut demander au TAL de fixer le loyer). Remise à niveau d’un logement ancien : environ 5 000 à 30 000 $ selon l’état | Estimate |
exit_cap.spread | 0.25% | Politique interne | Internal norm |
growth.rent | 3% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
growth.expenses | 3% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
sale_costs | 3% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
discount_rate | 7% | Plan directeur 2026-09-28, section 31.4 | Internal norm |
stress.rate_bump | 2% | Politique interne | Internal norm |
liquidity.reserve_months | 6 months | Plan directeur 2026-09-28, section 31.4 (si RCD de 1,10) | Internal norm |
closing.notary | $2,000 | Norme interne à calibrer | Estimate |
closing.inspection | $1,000 | Norme interne à calibrer | Estimate |
closing.appraisal | $1,000 | Norme interne à calibrer | Estimate |
closing.misc | $1,000 | Norme interne à calibrer | Estimate |
transfer_tax.municipal_above_500k | 3% | Ville de Sherbrooke, Droits de mutation immobilière : 3 % au-delà de 500 000 $ depuis le 1er janvier 2026 (sherbrooke.ca, consulté le 2026-09-28) | Public source |
CMHC multi-unit premiums (standard rental, all other loan purposes)
| Loan-to-value up to | Premium |
|---|---|
| 65% | 2.60% |
| 70% | 2.85% |
| 75% | 3.35% |
| 80% | 4.35% |
| 85% | 5.35% |
| 90% | 5.90% |
| > 90% (MLI Select) | 6.15% |
Plus 0.25 point per 5 years of amortization beyond 25 years; MLI Select discount of 10, 20 or 30 % for 50, 70 or 100 points. Source: CMHC Multi-unit Fees and Premiums (66798 20250513-002A).
CMHC homeowner premiums (1 to 4 units)
| Loan-to-value up to | Premium |
|---|---|
| 65% | 0.60% |
| 75% | 1.70% |
| 80% | 2.40% |
| 85% | 2.80% |
| 90% | 3.10% |
| 95% | 4.00% |
MLI Select points, existing buildings
Affordability (units at 30 % of median renter income) : 40% → 50 · 60% → 70 · 80% → 100
Energy and GHG reduction : 15 % → 20 · 25 % → 35 · 40 % → 50
Accessibility : 20 / 30
+30 points for a 20-year affordability commitment. 100 points always require an affordability commitment. Source: CMHC MLI Select page.
CMHC average rents used as a reference (octobre 2025)
| Centre | 1½-2½ | 3½ | 4½ | 5½+ | Vacancy |
|---|---|---|---|---|---|
| Province de Québec | $952 | $1,094 | $1,272 | $1,495 | 2.7% |
| Alma | $597 | $583 | $828 | $771 | 1.5% |
| Amos | — | $930 | $1,002 | $1,011 | 0.5% |
| Baie-Comeau | $566 | $728 | $855 | $904 | 1.1% |
| Cowansville | $614 | $796 | $1,147 | $1,224 | 1.9% |
| Dolbeau-Mistassini | $424 | $484 | $677 | $681 | 0.5% |
| Drummondville | $712 | $904 | $1,044 | $1,306 | 1.8% |
| Farnham | — | $686 | $1,036 | $1,157 | 1.4% |
| Gaspé | $526 | $688 | $918 | $859 | 1.7% |
| Gatineau | $1,046 | $1,362 | $1,451 | $1,508 | 3.8% |
| Granby | $905 | $884 | $1,154 | $1,393 | 2.1% |
| Hawkesbury | — | — | $1,056 | — | — |
| Joliette | $662 | $796 | $1,114 | $1,080 | 1.5% |
| La Tuque | $554 | $523 | $600 | $703 | 1.3% |
| Lachute | $627 | $806 | $1,134 | $1,171 | 1.5% |
| Les Îles-de-la-Madeleine | — | $780 | $921 | $1,073 | 2.2% |
| Marieville | $678 | $741 | $1,038 | $1,415 | 1.4% |
| Matane | $524 | $613 | $786 | $962 | 1.4% |
| Mont-Laurier | $560 | $598 | $788 | $849 | 2.2% |
| Montmagny | $589 | $654 | $865 | $911 | 0.7% |
| Montréal | $1,005 | $1,131 | $1,346 | $1,625 | 2.9% |
| Mont-Tremblant | $794 | $812 | $1,188 | $1,417 | — |
| Pont-Rouge | — | $808 | $1,053 | $981 | 0.3% |
| Prévost | — | $747 | $1,322 | $1,549 | 5.3% |
| Québec | $855 | $1,107 | $1,276 | $1,464 | 2.4% |
| Rawdon | — | $743 | $1,069 | $1,522 | — |
| Rimouski | $681 | $756 | $935 | $1,091 | — |
| Rivière-du-Loup | $598 | $693 | $857 | $1,057 | 0.8% |
| Rouyn-Noranda | $559 | $681 | $1,007 | $911 | 1.0% |
| Saguenay | $658 | $762 | $986 | $997 | 1.3% |
| Sainte-Adèle | — | $773 | $1,034 | $1,414 | 0.6% |
| Sainte-Agathe-des-Monts | $664 | $909 | $1,266 | $1,423 | 1.4% |
| Sainte-Julienne | — | $906 | $1,362 | $1,417 | — |
| Sainte-Marie | $664 | $851 | $965 | $1,084 | 1.6% |
| Sainte-Sophie | — | $997 | $1,198 | $1,473 | 0.9% |
| Saint-Félicien | $454 | $542 | $812 | $860 | 0.4% |
| Saint-Georges | $482 | $617 | $798 | $882 | 1.0% |
| Saint-Hyacinthe | $762 | $964 | $1,203 | $1,484 | 2.2% |
| Saint-Raymond | — | $560 | $806 | $788 | 1.4% |
| Saint-Sauveur | — | — | $1,483 | — | 0.0% |
| Salaberry-de-Valleyfield | $677 | $773 | $1,125 | $1,130 | — |
| Sept-Îles | $727 | $819 | $956 | $1,088 | 1.7% |
| Shawinigan | $474 | $658 | $830 | $904 | 1.5% |
| Sherbrooke | $712 | $905 | $1,062 | $1,375 | 2.7% |
| Sorel-Tracy | $500 | $677 | $943 | $1,165 | 0.6% |
| Thetford Mines | $585 | $663 | $819 | $927 | 1.1% |
| Trois-Rivières | $699 | $828 | $1,017 | $1,111 | 2.7% |
| Val-d'Or | $647 | $793 | $1,071 | $1,011 | 1.0% |
| Victoriaville | $587 | $817 | $991 | $987 | 1.9% |
Rents paid by sitting tenants: a floor for market rent, never used to cap a rent. SCHL, Enquête sur les logements locatifs, octobre 2025 : loyers moyens et taux d’inoccupation des centres du Québec (hmip-pimh).