Offer / Exec. Price

$5.80M

going-in

Equity to Raise

$3.77M

total capital

As-Is NOI

$302,701

operating

Going-In CapiAs-is NOI ÷ offer price. What you're paying today based on current income, before any lease-up or value-add.

7.70%

as-is / price

Stabilized CapiExit-year NOI ÷ offer price. Uses your hold-period exit year for cap-rate-sale deals, or Year 10 NOI for no-disposition (long-term hold) deals. Reflects the cap rate at full stabilization.

7.31%

vacancy-adj.

In-Place Occ.iPercentage of total building SF currently leased to non-vacant tenants. The snapshot of what you are buying today, before lease-up.

—

leased SF / total

Yield on CostiAs-is NOI ÷ total project cost (price + fees + closing + reserves + CapEx). Measures return on all-in capital deployed.

4.97%

NOI/total cost

DSCRiDebt Service Coverage Ratio. When a senior loan exists, shows Senior DSCR (NOI ÷ senior DS only) — what the lender underwrites. Total DSCR shown below. Without a senior loan, shows Total DSCR across all debt.

1.71x

total DS coverage

Levered IRRi

14.1%

equity return

LP Equity Multiplei

1.82x

7-yr hold

Deal Overview

Sources of Capital

Senior Loan Amount$3,770,000

Seller Carry$0

Total Equity Raised$2,030,000

TOTAL SOURCES$5,800,000

Uses of Capital

Offer / Execution Price$5,800,000

Acquisition Fee$58,000

Deal Costs (Closing/DD/Loan)$145,000

Initial Reserves$87,000

Bank Covenant Reserve (funded at close)$0

Initial CapEx (Renovation)$100,000

Seller Credits$0

TOTAL PROJECT COST$6,090,000

TOTAL EQUITY TO RAISE$2,030,000

Gross Rent (Annual)

$699,610

Total Recoveries

$73,522

Effective Gross Income

$734,475

Total OpEx (incl. Mgmt)

($431,774)

Net Operating Income

$302,701

Valuation NOI (5% vac)

$287,566

Annual Debt Service

($185,200)

Cash Flow Pre-Tax

$117,501

Year 1 Cash-on-Cash

3.12%

Yield on Cost

4.97%

DSCR

1.71x

Debt Yield (Senior)

13.1%

Total: —

Break-Even Occupancy

71.4%

LTV (Senior)

40.0%

Total: —

Price / SF

—

Loan Summary

Senior Loan	—
Rate / Amort	—
Senior Mo. Payment	—

SC / Mezz Loan	—
SC Rate / Amort	—
SC Mo. Payment	—

Mezz / Bridge Loan	—
Mezz Rate / Amort	—
Mezz Mo. Payment	—
MLO Mo. Payment	—
Total Debt	—
Total Annual DS	—

Depreciation Reference

Method	—
Residential Income %	—
Depreciable Cost Basis	—
Cumulative Depr. (Hold)	—
Adjusted Basis at Exit	—
Est. Recapture Tax (25%)	—
Consult tax advisor. Treatment varies by cost segregation, bonus elections, and individual investor position. Read-only display.

Hold Period Cash Flow Snapshot

Read-only summary · live engine values

—

Run the engine to see the cash flow snapshot.

Rent Roll

Click any cell to edit · up to 50 suites

Full Rent Roll

Summary / Screening Mode

Suite ↕	Tenant ↕	SF ↕	Base Rent/yr ↕	Mo. Rent ↕	Ann. Rec.	Lease Type ↕	Lease End ↕	Mo. Until Exp. ↕	Mo. Until Incr. iMonths from the analysis start date until this tenant's next scheduled rent increase. Enter 0 if an increase is due immediately.	Incr. Freq (mo) iHow often rent increases occur, in months. 12 = annual, 24 = every 2 years. Works with the Ann. Incr. % to escalate rent throughout the lease.	Rent Incr. % iAnnual percentage rent increase for this tenant. Applied at each Incr. Freq interval. For example, 3% annual = rent grows 3% each year.	% of Recov.	Rent/SF ↕	Options	Steps
TOTAL (25 suites)		41,147 SF	$725,117	$60,426	$74,043

Only rows with no data can be deleted. Up to 50 suites.

        Enter one row per unit type. Reno'd count splits each type for value-add modeling — renovated units carry the higher rent. Toggle Rent Ctrl per row to cap a unit type at its maximum allowable rent.
      

Unit Type	Beds	Baths	Avg SF	# Units	Reno'd iNumber of units in this type that are renovated (or will be renovated). Must be ≤ total units. Renovated units use the renovated in-place rent.	In-Place Rent iCurrent monthly rent for a CLASSIC (un-renovated) unit of this type. Per unit, per month.	Reno'd Rent iCurrent monthly rent for a RENOVATED unit of this type. Per unit, per month. The spread over classic rent is the value-add premium.	Market Rent iEstimated market rent for this unit type, monthly per unit. The gap between in-place rent and market rent is the loss-to-lease.	Loss-to-Lease iCalculated. The percentage gap between blended in-place rent and market rent for this unit type. Negative means in-place rent is above market.	Vacancy % iPhysical vacancy assumption for this unit type. Defaults to the deal-level vacancy if left blank.	Concess. (mo) iMonths of free rent offered to new tenants of this unit type. Typical in lease-up or soft markets.	Rent Ctrl iToggle on if this unit type is rent-stabilized or rent-controlled. Activates the Max Allowable Rent field. Requires the Rent-Stabilized Building toggle in the sidebar.	Max Allow. Rent iThe maximum monthly rent legally allowed for this unit type under rent control. Only active when Rent Ctrl is toggled on for this row.
TOTAL (0 types)				0	0	$0/mo GPR

Up to 12 unit types

Tenant Renewal Assumptions

25 rows · Suite & Tenant auto-populate from Rent Roll · probability-weighted TI/LC/downtime

Suite	Tenant	Mkt Rent PSF iYour estimate of current market rent per square foot per year for this space. Used as the renewal base when Renewal Basis = Market. ▼ all	Renewal Prob. iProbability this tenant renews when their lease expires. 80% means 80% chance they stay. Drives probability-weighted TI, LC, and downtime costs. ▼ all	Downtime (mo) iMonths of vacancy assumed between lease expiration and a new tenant paying rent. Probability-weighted — multiplied by (1 – renewal prob). ▼ all	New TI $/SF iTenant improvement allowance per SF you would pay for a brand new tenant. Applied when lease expires and space is re-leased to someone new. ▼ all	New LC % iLeasing commission as % of new lease value, paid to broker when a new tenant signs. Typically 4–6% for new leases. ▼ all	New Lease (yr) iTerm of the new lease assumed when this tenant does not renew and a replacement is found. Affects how far out the next lease event falls. ▼ all	Renewal TI $/SF iTI allowance paid if the existing tenant renews. Usually lower than new-tenant TI — typically $0–$5/SF for a simple renewal. ▼ all	Renewal LC % iLeasing commission paid for a renewal. Typically 2–3%, or zero if handled in-house. Applied only if tenant renews. ▼ all	Renewal Free Rent (mo) iMonths of free base rent offered at the start of the renewal term as a tenant concession. Recoveries (CAM/Tax/Ins) continue to be collected. Escalation clock starts from renewal commencement, not from the first paying month. ▼ all	Option LC % iLeasing commission as % of the option's own lease value, charged once when an assumed option period commences. Not weighted by renewal probability: an exercised option is a continuation of the in-place lease, not a renewal negotiation. No TI is charged at option exercise. Leave at 0 if options are handled in-house or no commission is owed. ▼ all	Esc. Rate iAnnual rent escalation rate for this tenant during the lease term. Overrides the global rent growth rate in the assumptions panel. ▼ all	Lease Type iNNN: tenant pays taxes, insurance, and CAM. Modified Gross: some expenses included in base rent. Gross: landlord covers all expenses. Affects recovery income modeling. ▼ all	Renewal Basis iLast Rate: renewal rent starts at the last escalated rent under the expiring lease. Market: renewal rent resets to your Mkt Rent PSF assumption. ▼ all	Last Rent/SF iThe effective rent per SF this tenant will be paying at the end of their current lease term, after all scheduled escalations. Used when Renewal Basis = Last Rate.	Excl. Vacancy iCarve this tenant out of the general (valuation) vacancy haircut. For credit or anchor tenants on long leases that should not carry a speculative vacancy reserve. Affects valuation NOI and exit value only, never operating cash flow.

One row per unit type — Unit Type & Units auto-populate from the Rent Roll. Renewal probability, turnover vacancy, and escalation drive how residential income trends across the hold.

Unit Type	Units	Renewal Prob. iShare of expiring leases of this unit type that renew each year. 60% means 60% renew and 40% turn over. Drives turnover vacancy, make-ready, and leasing cost exposure.	Lease Term (mo) iLength of a residential lease for this unit type, in months. 12 is standard. Sets how often each unit cycles through a renewal-or-turnover decision.	Turnover Vacancy (days) iDays a unit sits empty between a move-out and the next move-in. Applied only to the turning share of units (1 − renewal probability). Typical 14–30 days.	Bad Debt % iUncollected rent as a percentage of potential rent for this unit type — skips, evictions, and write-offs. Reduces effective gross income. Typical 0.5–2%.	Mkt Rent Growth % iAnnual growth in market (asking) rent for this unit type. Drives the rent a turned unit can be re-leased at. Set per unit type to model submarkets that move at different speeds.	Renewal Increase % iRent bump applied when an existing resident renews — usually below full market to keep good residents. Typical 3–5%. Capped by the controlled escalation when rent control is on.	Controlled Esc. % iMaximum legal annual rent increase under rent control / stabilization. Acts as a ceiling on the renewal increase for rent-controlled unit types. Ignored if this unit type is not flagged rent-controlled on the Rent Roll.	Make-Ready $ iCost to turn a unit between residents — paint, clean, minor repairs. Charged per turn (the turning share of units). The multifamily equivalent of retail TI. Typical $500–$1,500.	Leasing Cost $ iCost to sign a new resident — advertising, locator fees, leasing commission. Charged per turn. The multifamily equivalent of retail LC. Typical $300–$1,000.	Renovation $/unit iCapital cost to fully renovate one classic unit of this type as part of a value-add program. Spent as units are renovated at the renovation pace set in Deal Setup.	Reno Rent Premium $ iMonthly rent lift a renovated unit earns over a classic unit. If left at $0, the engine uses the spread between Reno'd Rent and In-Place Rent already entered on the Rent Roll.	Reno Timeline (mo) iMonths from when a unit is taken offline for renovation to when it is re-leased at the renovated rent. Adds a brief vacancy gap on each unit as it is renovated.

Operating Expenses

20-line itemized or summary · REA income = negative entry

Itemized

Summary Entry

Enter expenses exactly as shown in the OM or due diligence materials. These are the seller's historical figures and serve as your baseline. The Pro Forma grows these forward at your expense growth rate assumption. REA income should be entered as a negative number (credit). Management fee — if included by the seller — enter it here and toggle the reconciliation option in the sidebar.

Expense Item	Annual Amount	$/SF
Total Operating Expenses (Seller's Data)	$395,050	$9.60

Up to 30 expense lines. Only empty lines can be deleted.

Owner Costs (Below the Line)

Recurring sponsor / ownership costs that begin at close and are not property operating expenses: a bookkeeper, an operating account for day-to-day legal and travel, and the like. Deducted at Cash Available for Distribution alongside the AM fee and reserves, and grown each year at your expense growth rate. These never touch in-place NOI, pro forma NOI, cap rate, DSCR or exit value. For a buyer-added property cost the seller did not book (a post-close tax reassessment), use an OpEx line and mark it PC instead.

Owner Cost Item	Annual Amount
Total Owner Costs (Year 1)	$0

Up to 15 lines. Grown at expense growth. Below the line.

10-Year Project Pro Forma i All figures are annual totals. ★ marks your exit year. Rows flow: GPR → EGI → NOI → Cash Flow Before Tax → LP/GP distributions. Debt service = P+I on senior loan. Seller Carry shown separately. TI/LC are probability-weighted lease costs flowing through in the years they occur.

Annual summary · vacancy factor for valuation only

	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10

Returns & Equity Waterfall

All invested capital = LP capital · GP earns promote + admin fee only

LP IRR

—

levered equity return

LP Equity Multiple

—

total return on capital

Avg Annual Return

—

annualized

Unlevered IRR

—

project-level pre-debt

Annual Distribution Detail

	Yr 0	Yr 1	Yr 2	Yr 3	Yr 4	Yr 5	Yr 6	Yr 7 ★	Total

Promote Tier Summary

Aggregate across the hold, all years and capital events

Tier	Basis	Residual Applied	LP $	GP $	LP Cumulative $	LP Cum. IRR at Top of Tier

LP Summary

LP Return Summary

Total Capital Invested	—
Total Capital Returned	—
Total Pref + Profits Paid	—
Total LP Cash Distributions	—
LP IRR	—
LP Equity Multiple	—
Avg Annualized Return	—
Avg Cash-on-Cash iAverage annual cash distributions to LPs as a % of LP equity, over the life of the hold. Operating cash only — does not include capital events (refi, sale).	—

GP Compensation Summary

Acquisition Fee (Yr 0)	—
Annual AM Fee × hold years	—
GP Share of Operating CAD	—
GP Share of Capital Events	—
GP Co-Invest Contributed (Yr 0)	—
GP Co-Invest Capital Returned	—
Total GP Cash Flow	—
GP Avg Annual Revenue	—

▼ After-Tax & 1031 Exchange Analysis

Taxable Sale — Year — Exit

Gross Sale Price	—
Less: Closing & Commissions	—
Less: Remaining Loan Balance	—
Net Pre-Tax Proceeds	—
Tax Calculation
Original Cost Basis	—
Less: Cumulative Depreciation	—
Adjusted Cost Basis	—
Total Gain on Sale	—
Capital Gain (@ 20.0%)	—
Depreciation Recapture (@ 25.0%)	—
Net Investment Income Tax (@ 3.8%)	—
Total Tax Liability	—
Net After-Tax Proceeds	—

Tax Deferred via 1031 Exchange

$—

Defer capital gains, depreciation recapture, and NIIT by reinvesting full proceeds into a like-kind property.

Sell & Pay Tax

$—

After all taxes

1031 Exchange

$—

Full proceeds reinvested

Key 1031 Requirements

• 45 days to identify replacement property
• 180 days to close on replacement
• Must use a Qualified Intermediary (QI)
• Replacement must be "like-kind" (any real property)
• Boot (cash received) is taxable

Tax estimates are display-only. Consult your CPA. Passive activity rules and state taxes may apply.

Exit Cap Rate Sensitivity

Investor View

Individual investor return breakdown · enter any investment amount

Investor Details

Investor Name

Investment Amount ($)

            LP Ownership: —  ·  Total LP Pool: —
          

IRR (same as LP)

—

Equity Multiple

—

Total Distributions

—

Avg Annual Return

—

Return Breakdown

Capital Invested	—
Return of Capital	—
Preferred Return Paid	—
Share of Promote (LP%)	—
Total Distributions	—
Net Profit	—

Annual Distribution Schedule

Year	CAD (Total)	Your Share	Pref Paid	Promote	Capital Events	Total to You	Cumulative
Run the engine first

Stress Test — Sensitivity Analysis

Four default tables · base case highlighted · green = better · red = worse

Custom sensitivity table — pick any two variables & output metric

Presentation Summary

Investor-ready deal overview · export to PDF with options

Untitled Deal

Arlington, IL · Retail Strip Center · 41,147 SF · 21 tenants

Prepared by Rychen Jones · 02/18/2026

Offer Price

$5,800,000

Going-In Cap

6.59%

Levered IRR (7-yr)

—

Occupancy

—

Investment Highlights

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LP Return Summary

Total Equity Raised	—
Unlevered Project IRR	—
Levered IRR (LP)	—
LP Equity Multiple	—
LP Avg. Annualized Return	—
Refi Proceeds to Investors	—
Total Distributable Pool at Sale	—

          Generated by PropCalc™ · For informational purposes only · Forward-looking projections involve inherent uncertainty · Consult qualified financial and legal advisors before making investment decisions
        

Property & Debt Snapshot

Total Building SF	41,147
Price / SF	—
As-Is NOI	—
Gross Potential Rent (Annual)	—
Senior Loan Amount	—
LTV at Closing	—
DSCR (As-Is)	—
Loan Rate / Amort	—
Hold Period / Exit Cap	—

Annual Cash Flow to LP

Year	NOI	Debt Svc	CAD	LP Dist.
—

Deal Notes

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Rolled Capital Contributed	—
Capital Returned	—
Pref Paid	—
LP-Side Promote Share	—
Total Roller Distributions	—
Roller Equity Multiple	—

Your Share of Gain	—
Capital Gain Tax (@ 20.0%)	—
Depreciation Recapture (@ 25.0%)	—
NIIT (@ 3.8%)	—
Your Tax Liability	—
Net After-Tax Proceeds	—

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