In composites, debonding at the fiber-matrix interface and matrix cracking due to loading or residual stresses can effect the mechanical properties. Here three different architectures 3-directional orthogonal, 3-directional 8-harness satin weave and 4-directional in-plane multidirectional composites - are investigated and their effective, properties are determined for different volume fractions using unit cell modeling with appropriate periodic boundary conditions. A cohesive zone model (CZM) has been used to simulate the interfacial debonding, and an octahedral shear stress failure criterion is used for the matrix cracking. The debonding and matrix cracking have significant effect on the mechanical properties of the composite. As strain increases, debonding increases, which produces a significant reduction in all the moduli of the composite. In the presence of residual stresses, debonding and resulting deterioration in properties occurs at much lower strains. Debonding accompanied with matrix cracking leads to further deterioration in the properties. The interfacial strength has a significant effect on debonding initiation and mechanical properties in the absence of residual stresses, whereas, in the presence of residual stresses, there is no effect on mechanical properties. A comparison of predicted results with experimental results shows that, while the tensile moduli E-11, E-33 and shear modulus G(12) match well, the predicted shear modulus G(13) is much lower.