If you own or operate multifamily properties, you know the math: Net Operating Income (NOI) is the foundation of your asset’s worth. It’s the number every lender, buyer, and investor zeros in on — and for good reason. Every dollar of NOI feeds directly into your valuation. Divide your new NOI by the cap rate, and you’ve got a direct path to increased property value.

Let’s break it down, then show how one owner made it real with Internet Subway.

In multifamily, NOI = Gross Income – Operating Expenses. It strips out debt and taxes and tells you exactly how much your property is earning from operations.

Real Example: 640 Units, 28 Buildings, One Smart Upgrade

A multifamily community with 640 units across 28 garden-style buildings came to Internet Subway with a common problem: rising operational internet costs paired with inconsistent resident satisfaction. Each building was using standalone business-class internet lines to support back-office systems, resident Wi-Fi in amenity areas, and leasing operations.

They were spending nearly $80 per building, per month — just to stay online.

That’s over $26,000 every year in pure operating expense, and that infrastructure wasn’t even delivering resident revenue.

Enter Next Gen Bulk from Internet Subway

We worked with the ownership group to deploy Fiber-to-the-Unit (FTTU) across all 28 buildings, creating a single, property-wide network infrastructure. Fully redundant, professionally managed, and built to scale.

Here’s what changed:

• Eliminated $80/building/month in business internet costs
• Empowered the property to add high-margin technology fees to leases ($85/unit/month)
• Residents received move-in ready, multigigabit-capable Wi-Fi
• Ownership generated over $55/unit/month in net NOI

The NOI Math That Matters

• $55/unit/month is $660 annual NOI per unit.
• Across all 640 units, that’s $35,200/month in cash flow.
• $660 annual NOI divided by a 5.5% cap rate creates ~$12,000 in value per unit.
• After subtracting out CapEx, this translated to a $6.78 million increase in asset value

And that’s before factoring in the $26K/year in eliminated OPEX — which only improves your operating margin further.

More Than Cost Savings — It’s a Scalable NOI Engine

What makes Next Gen Bulk different is that it’s not just an upgrade — it’s a long-term strategy.

Next Gen Bulk enables:

• 10G-capable service to every unit
• Seamless speed upgrades without new wiring
• Centralized support across the entire property
• A monetizable amenity that compounds over time

Whether your community has 200 units or 1,000+, the model scales — and the NOI scales with it.

A Smarter Way to Drive Value

Internet service used to be a resident utility or a sunk cost for operations. Today, it’s one of the most profitable and scalable amenities you can offer. And with Next Gen Bulk from Internet Subway, it becomes a reliable NOI driver that pays off month after month — with infrastructure that lasts a decade or more.

This owner didn’t just upgrade their internet — they upgraded their asset. If you’re operating high-density properties, especially with multiple buildings, there’s untapped NOI waiting in your infrastructure.

Internet Subway can help you find it.

Let’s talk about how Next Gen Bulk can turn your costs into cash flow and your bandwidth into asset value. Contact us today!