Commercial Real Estate Underwriting Calculator — Avrum C. Lebrecht

Multifamily 5+, retail, office and industrial: NOI, value, debt sizing and a 5-year IRR.

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Income

Lease structureRecovery of taxes, ins. & CAM%

VacancyCredit loss%Other income / yr$

Operating expenses / yr

Taxes$Insurance$CAM / repairs$

Utilities$Reserves$Other expenses$

Management

Price & debt

Purchase price$Market cap rate%

Loan rate%Amortization (yrs)

Max LTV%Min DSCRxClosing costs

5-year hold

Rent growth / yr%Expense growth / yr%

Exit cap rate%Selling costs%

Estimates only, not an appraisal or lender commitment.

Net operating income (yr 1)—

Cap rate on price—

Value at market cap—

Cash-on-cash—

5-yr levered IRR—

Debt sizing

5-year cash flows

Year	NOI	Debt service	Cash flow

Reserves are counted in NOI (lender style). Exit value = year-6 NOI ÷ exit cap, less selling costs and the loan balance.

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Licensed Real Estate Salesperson with eRealty Advisors, Inc., with 10 years of real estate experience, 70 sales and a 5.0 rating on Zillow, serving buyers, sellers and investors across New York State. Buying, selling or investing, he'll run the numbers with you.

Email Avrum Cell: (845) 642-8271

chaiml@erealtyadvisors.com · Cell: (845) 642-8271
Office: (914) 712-6330 ext. 492
eRealty Advisors, Inc. · 777 Westchester Ave, Suite 101, White Plains, NY 10604