Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Architect-designed villa in Alfama · Ref 5701
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
4.2%
Cashflow / mo
-600
10-yr return
95%
Net cashflow / mo
-600
EUR · after debt service & taxes
Cap rate
4.2%
NOI ÷ asking price
Cash-on-cash
-3.8%
Year-1 cashflow ÷ cash-in
10-yr total return
95%
6.9% annualised
💼 Acquisition
Asking price
497200 EUR
Down payment (30%)
149160 EUR
Acquisition fees (8.0%)
39776 EUR
Mortgage principal
348040 EUR
Total cash-in at close
188936 EUR
🏦 Financing
Loan amount
348040 EUR
Mortgage rate
4.10%
Term
25 years
Monthly payment
1856 EUR
Annual debt service
22276 EUR
📊 Year-1 operating P&L
Gross rent
+26849
Operating costs (22%)
−5907
Net operating income (NOI)
20942
− Debt service
−22276
− Income tax (28%)
−5864
Net cashflow
-7198 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 26849 | 5907 | -7198 | 512116 | 172235 |
| Y2 | 27654 | 6084 | -6746 | 527479 | 196098 |
| Y3 | 28484 | 6266 | -6280 | 543304 | 220777 |
| Y4 | 29338 | 6454 | -5800 | 559603 | 246301 |
| Y5 | 30219 | 6648 | -5306 | 576391 | 272699 |
| Y6 | 31125 | 6848 | -4796 | 593683 | 300003 |
| Y7 | 32059 | 7053 | -4272 | 611493 | 328243 |
| Y8 | 33021 | 7265 | -3732 | 629838 | 357453 |
| Y9 | 34011 | 7482 | -3176 | 648733 | 387668 |
| Y10 | 35032 | 7707 | -2603 | 668195 | 418923 |
| Σ 10y | Cumulative net cashflow | -49907 | Equity at exit | 418923 | |
Modelling assumptions
- Country baseline: PT — operating costs 22% of gross rent, income tax 28%, capital appreciation 3.0%/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.