Multifamily Underwriting

Underwrite a multifamily acquisition on your own numbers. Enter the unit mix, the price, the operating expenses, the loan, and your own hold and exit assumptions, and see net operating income, the projected hold, and the levered and unlevered return, all on the numbers you enter.

Unit mix

One row per unit type: how many units, and the in-place rent each one carries per month. These roll up into gross potential rent.

Unit type 1

Label (optional)

UnitsRent / mo

Purchase and financing

Purchase priceThe all-in price.Loan amountThe financed principal.Interest rate (%)Your own note rate.Term (years)The amortization term.Closing cost (%)Share of price paid at close.Loan points (%)Points on the loan, if any.Rehab budgetOne-time rehab dollars.

Income adjustments

Vacancy (%)Of gross potential rent.Bad debt (%)Of gross potential rent.Other income (monthly)Laundry, parking, fees.Concessions (annual)Rent given back per year.

Operating expenses (annual)

Property taxesAnnual tax bill.InsuranceAnnual premium.MaintenanceAnnual repairs and upkeep.CapEx reserveAnnual set-aside.Management fee (%)Of effective gross income.

Hold and exit assumptions

Hold (years)How long you plan to hold.Income growth per year (%)Annual effective-income growth.Expense growth per year (%)Annual operating-expense growth.Exit cap rate (%)The cap you assume at sale.Cost of sale (%)Selling costs as a share of price.

Add at least one unit type with a count and a rent, then enter a purchase price, a hold, and an exit cap to underwrite the deal.