Financial Modeling
We build the most in-depth financial modeling for multifamily. Every assumption comes from running apartments, and every output is ready for a lender, a partner or an investment committee.
Sensitivity: rent growth × exit cap
The problem
Brokers' pro formas lean optimistic. Generic templates miss local rent growth, real turn costs and what renovations truly deliver. Decisions made on a thin model cost owners money for years. A good model shows the downside as clearly as the upside.
What we do
We underwrite from the rent roll, trailing financials and the market. Income, vacancy, expenses and capital needs are each tied to a source, not a guess.
A full multi-year projection, with the debt, the operating plan and the exit set out line by line. You can follow how every number flows.
Model unit by unit what a renovation costs, how long it takes, what rent it supports and how it changes NOI. Compare scopes before you commit to one.
Rents are checked against comparable properties and submarket data. Expenses reflect how our properties actually run, so the operating ratio is realistic.
We stress rent growth, occupancy, interest rates, exit pricing and renovation cost. You see which assumptions the deal depends on and how much room there is.
Clean summaries and supporting schedules for lenders, partners and investment committees. They are easy to read and easy to question.
How it works
Rent roll, financials, offering materials, property condition and your goals.
We propose each assumption with its source and agree them with you before building anything out.
A structured model with scenarios for the base case, the renovation plan and the downside.
We run sensitivities, look for weak points and walk through the results with you.
You get the model and a summary. We update it as quotes, terms or market data change.
The result
Multifamily Consulting
Advice from the people who run apartments daily: due diligence, NOI strategy, value-add plans and operations reviews for owners and investors.
Learn moreConstruction Management
We join development early, so the building is designed to lease and operate well: unit mix, finishes, amenities and lease-up readiness.
Learn moreMultifamily Accounting
Books, payables, projections, bank reconciliations and trust accounts, with financials prepared for your tax accountant.
Learn morePut a real model behind your decision
Send us the deal or the plan. We will tell you what the numbers actually say.
Questions
Insights
A cap rate tells you what you pay for today's income, and nothing about whether that income is real. Learn what multifamily cap rates hide and how to look past them.
A value-add plan lives or dies on the rent premium and on who runs the building while the work happens. Here is how to find the upside, test it honestly and carry it out.
NOI sets what your building is worth, so every dollar you add to it is worth far more than a dollar. Here is where the real gains hide, on both the income and expense sides.
