In this paper, the volume fraction of polymer as a solid in the polymer cement mortar (PCM) is defined as the polymer content. The effect of the polymer content on the properties such as the flexural and compressive strengths, water permeability, carbonation and chloride ion penetration of PCM is discussed. As a result, the equation of the effective factor (F) for the properties of the PCM by using the water-cement ratio (W/C), polymer content (Vp), and volume fractions of air (Va) and sand (Vs) is established as “F = (1-W/C)(1 + AVp)(1-Va)(1 + 5Vs)”. The empirical constant (A) is the 4, -6, -8, -6 and -4 for the flexural strength, compressive strength, water permeability, carbonation depth and chloride ion penetration depth of PCM, respectively. The equation for estimating the properties of PCM by using the effective factor and the properties of cement mortar (Plain) is established as “PP = B(FP0) + C”. Where, PP, F, and P0 are the properties of PCM, the effective factor and the properties of Plain with the same W/C, sand-cement ratio and curing condition as the PCM. The empirical constants B and C in this equation are depending on the type of polymer used and curing condition.