Build-to-Rent models and underwriting tools.

Build-to-Rent Development Model

Model a rental community with phased construction, occupancy ramp, operating cash flow and a long-term hold.

Construction Financing Model

Size a construction facility and create a monthly debt draw, interest and maturity schedule.

Real Estate Refinancing Model

Size a replacement loan and quantify proceeds, debt service, lender return and maturity balance.

Real Estate JV Waterfall Model

Allocate whole-deal cash flow between LP and GP through preferred return and promote tiers.

CONNECTED ANALYSIS

Build-to-Rent calculators

Yield on Cost Calculator

Compare stabilized NOI with total development or acquisition cost.

Maximum Loan Calculator

Size the tightest loan amount under LTV, LTC, debt-yield and DSCR constraints.

Leveraged IRR Calculator

Calculate annual equity IRR after debt using equity contributions, distributions and net sale proceeds.

Equity Multiple Calculator

Compare total equity distributions, including returned capital, with total equity contributions.

PRACTICAL GUIDES

Understand the metrics behind the model.

Real Estate

Build-to-Rent Underwriting Guide

BTR underwriting combines development cost, unit mix, lease-up, operating efficiency and long-term financing.

Valuation

How to Calculate Yield on Cost

Yield on cost compares stabilized annual NOI with the full project cost basis.

Financing

How Construction Loans Work

Construction loans fund eligible project costs through draws and charge interest on the balance actually advanced.

Equity

How a Real Estate Waterfall Works

A waterfall distributes cash between partners in a defined order, usually preference, capital return and promote tiers.