Underwrite a value-add redevelopment with the renovation budget

For Developers · also Acquisition & investment teams, Family offices & private investors

Underwrite this: [address] at [asking price], from the attached T-12 and rent roll, with a [budget] renovation and a [number]-year hold. What does it return against [target IRR], and is the entry price right?

You give

The address; the asking price; the T-12; the rent roll; renovation budget; the hold period in years

You get

Returns, NOI, cap rate, DSCR, sensitivity and a verdict on the entry price, in the assistant Often also: memo (PDF)