Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
4-bed apartment, Santa Croce
Tweak any input — down payment, mortgage rate, hold horizon — and the projection refreshes instantly. Country-specific tax and fee schedules are baked in; the formula is documented on the methodology page.
Cap rate
4.3%
Cashflow / mo
-768
10-yr return
53%
Net cashflow / mo
-768
EUR · after debt service & taxes
Cap rate
4.3%
NOI ÷ asking price
Cash-on-cash
-3.1%
Year-1 cashflow ÷ cash-in
10-yr total return
53%
4.4% annualised
💼 Acquisition
Asking price
760700 EUR
Down payment (30%)
228210 EUR
Acquisition fees (9.0%)
68463 EUR
Mortgage principal
532490 EUR
Total cash-in at close
296673 EUR
🏦 Financing
Loan amount
532490 EUR
Mortgage rate
4.30%
Term
25 years
Monthly payment
2900 EUR
Annual debt service
34796 EUR
📊 Year-1 operating P&L
Gross rent
+42599
Operating costs (24%)
−10224
Net operating income (NOI)
32375
− Debt service
−34796
− Income tax (21%)
−6799
Net cashflow
-9219 EUR
📈 10-year projection
1.8% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 42599 | 10224 | -9219 | 774393 | 254038 |
| Y2 | 43366 | 10408 | -8759 | 788332 | 280646 |
| Y3 | 44147 | 10595 | -8290 | 802522 | 308059 |
| Y4 | 44941 | 10786 | -7813 | 816967 | 336308 |
| Y5 | 45750 | 10980 | -7327 | 831672 | 365423 |
| Y6 | 46574 | 11178 | -6833 | 846643 | 395434 |
| Y7 | 47412 | 11379 | -6329 | 861882 | 426374 |
| Y8 | 48265 | 11584 | -5817 | 877396 | 458277 |
| Y9 | 49134 | 11792 | -5295 | 893189 | 491178 |
| Y10 | 50019 | 12004 | -4764 | 909267 | 525114 |
| Σ 10y | Cumulative net cashflow | -70447 | Equity at exit | 525114 | |
Modelling assumptions
- Country baseline: IT — operating costs 24% of gross rent, income tax 21%, capital appreciation 1.8%/yr.
- Projections assume rent grows at the country appreciation rate. Real-world rent growth will diverge.
- Mortgage figures use a constant interest rate for the full term. Re-mortgage events are not modelled.
- Excludes capital-gains tax on exit, currency hedging costs and any local property tax over and above the operating buffer.