Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
3-bed apartment, Born
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
3.7%
Cashflow / mo
-1429
10-yr return
87%
Net cashflow / mo
-1429
EUR · after debt service & taxes
Cap rate
3.7%
NOI ÷ asking price
Cash-on-cash
-3.6%
Year-1 cashflow ÷ cash-in
10-yr total return
87%
6.5% annualised
💼 Acquisition
Asking price
1209300 EUR
Down payment (30%)
362790 EUR
Acquisition fees (10.0%)
120930 EUR
Mortgage principal
846510 EUR
Total cash-in at close
483720 EUR
🏦 Financing
Loan amount
846510 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
4422 EUR
Annual debt service
53059 EUR
📊 Year-1 operating P&L
Gross rent
+56837
Operating costs (22%)
−12504
Net operating income (NOI)
44333
− Debt service
−53059
− Income tax (19%)
−8423
Net cashflow
-17149 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 56837 | 12504 | -17149 | 1245579 | 419476 |
| Y2 | 58542 | 12879 | -16072 | 1282946 | 478061 |
| Y3 | 60298 | 13266 | -14962 | 1321435 | 538610 |
| Y4 | 62107 | 13664 | -13820 | 1361078 | 601189 |
| Y5 | 63971 | 14074 | -12642 | 1401910 | 665868 |
| Y6 | 65890 | 14496 | -11430 | 1443967 | 732718 |
| Y7 | 67866 | 14931 | -10181 | 1487286 | 801815 |
| Y8 | 69902 | 15379 | -8895 | 1531905 | 873235 |
| Y9 | 72000 | 15840 | -7570 | 1577862 | 947058 |
| Y10 | 74160 | 16315 | -6205 | 1625198 | 1023366 |
| Σ 10y | Cumulative net cashflow | -118926 | Equity at exit | 1023366 | |
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.