Multifamily / Apartment Acquisition Underwriting Analyzer
Move from a quick purchase screen into property-level underwriting: rent roll, current versus market rents, operating history, lender sizing, value-add assumptions, multi-year returns, refinance and exit scenarios, and a rules-based Buy / Pass screen.
Apartment acquisition underwriting
Build the operating case first, then size the debt and measure the equity return. The screening result uses only the thresholds you enter below.
1. Property & Acquisition
Basic transaction facts, hold period, and market valuation assumptions.
2. Rent Roll & Current Market Rent Assist
Enter the actual unit mix and in-place rents. Market rent can be entered manually or populated from ZIP-level current rental data when the optional data connector is configured.
| Unit Type | Units | Avg. SF | Current Rent / Mo. | Market Rent / Mo. |
|---|---|---|---|---|
| Studio | ||||
| 1 Bedroom | ||||
| 2 Bedroom | ||||
| 3+ Bedroom |
3. Occupancy, Lease-Up & Other Income
4. T12 / Normalized Operating Expenses
Use trailing-12 actuals where available. Projected taxes are used in underwriting so an acquisition-related reassessment can be modeled separately from the seller's current tax bill.
5. Value-Add / Renovation Program
Use the rent-premium field only for upside not already included in the market-rent column above.
Major Capital Plan
Separate known building-level capital items from unit renovations so the equity requirement is not understated.
6. Financing & Lender Loan Sizing
The modeled loan is the lower of desired leverage and the limits implied by LTV, LTC, DSCR, and debt yield.
7. Multi-Year Growth, Refinance & Exit
8. Underwriting Results
9. Buy / Pass Screening Thresholds
Set your own acquisition standards. The rating is a mechanical screen against these inputs; it is not investment advice or a recommendation to acquire or reject a property.
PASS SCREEN
Calculating the entered thresholds.
10. Annual Projection
| Year | Occupancy | Effective Income | Operating Expenses | NOI | Debt Service | Levered Cash Flow | Loan Balance |
|---|
11. Sensitivity Tests
Three quick stress tests: occupancy, interest rate, and exit cap rate.
| Occ. | NOI | DSCR | Cash Flow |
|---|
| Rate | Debt Service | DSCR | Cash Flow |
|---|
| Exit Cap | Value |
|---|
Rent / Occupancy DSCR Matrix
Each cell shows DSCR after combining a rent change with an occupancy change around the current underwriting case.
| Rent Scenario | Occupancy -5 pts | Base Occupancy | Occupancy +5 pts |
|---|
Scenario estimates only. Market-data lookups are informational. Not an appraisal, underwriting decision, loan approval, investment recommendation, or guarantee of return.
Want to discuss the financing structure?
Carry the purchase price and key underwriting metrics into the Elite deal-submission form.