Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Flagship street-level retail, Malasaña
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
3.9%
Cashflow / mo
-273
10-yr return
92%
Net cashflow / mo
-273
EUR · after debt service & taxes
Cap rate
3.9%
NOI ÷ asking price
Cash-on-cash
-3.1%
Year-1 cashflow ÷ cash-in
10-yr total return
92%
6.8% annualised
💼 Acquisition
Asking price
267100 EUR
Down payment (30%)
80130 EUR
Acquisition fees (10.0%)
26710 EUR
Mortgage principal
186970 EUR
Total cash-in at close
106840 EUR
🏦 Financing
Loan amount
186970 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
977 EUR
Annual debt service
11719 EUR
📊 Year-1 operating P&L
Gross rent
+13355
Operating costs (22%)
−2938
Net operating income (NOI)
10417
− Debt service
−11719
− Income tax (19%)
−1979
Net cashflow
-3282 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 13355 | 2938 | -3282 | 275113 | 92650 |
| Y2 | 13756 | 3026 | -3028 | 283366 | 105590 |
| Y3 | 14168 | 3117 | -2768 | 291867 | 118964 |
| Y4 | 14593 | 3211 | -2499 | 300623 | 132786 |
| Y5 | 15031 | 3307 | -2223 | 309642 | 147071 |
| Y6 | 15482 | 3406 | -1938 | 318931 | 161837 |
| Y7 | 15947 | 3508 | -1644 | 328499 | 177098 |
| Y8 | 16425 | 3613 | -1342 | 338354 | 192873 |
| Y9 | 16918 | 3722 | -1031 | 348505 | 209178 |
| Y10 | 17425 | 3834 | -710 | 358960 | 226032 |
| Σ 10y | Cumulative net cashflow | -20464 | Equity at exit | 226032 | |
Modelling assumptions
- Country baseline: ES — operating costs 22% of gross rent, income tax 19%, 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.