Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Boutique residence in San Niccolò · Ref 6547
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
-994
10-yr return
53%
Net cashflow / mo
-994
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
983800 EUR
Down payment (30%)
295140 EUR
Acquisition fees (9.0%)
88542 EUR
Mortgage principal
688660 EUR
Total cash-in at close
383682 EUR
🏦 Financing
Loan amount
688660 EUR
Mortgage rate
4.30%
Term
25 years
Monthly payment
3750 EUR
Annual debt service
45000 EUR
📊 Year-1 operating P&L
Gross rent
+55093
Operating costs (24%)
−13222
Net operating income (NOI)
41871
− Debt service
−45000
− Income tax (21%)
−8793
Net cashflow
-11923 EUR
📈 10-year projection
1.8% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 55093 | 13222 | -11923 | 1001508 | 328543 |
| Y2 | 56084 | 13460 | -11327 | 1019536 | 362954 |
| Y3 | 57094 | 13703 | -10721 | 1037887 | 398408 |
| Y4 | 58122 | 13949 | -10104 | 1056569 | 434941 |
| Y5 | 59168 | 14200 | -9476 | 1075587 | 472595 |
| Y6 | 60233 | 14456 | -8837 | 1094948 | 511407 |
| Y7 | 61317 | 14716 | -8186 | 1114657 | 551422 |
| Y8 | 62421 | 14981 | -7523 | 1134721 | 592681 |
| Y9 | 63544 | 15251 | -6848 | 1155146 | 635232 |
| Y10 | 64688 | 15525 | -6162 | 1175938 | 679120 |
| Σ 10y | Cumulative net cashflow | -91107 | Equity at exit | 679120 | |
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.