Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Renovated 1-bedroom flat overlooking Alfama
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
-1625
10-yr return
95%
Net cashflow / mo
-1625
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
1347000 EUR
Down payment (30%)
404100 EUR
Acquisition fees (8.0%)
107760 EUR
Mortgage principal
942900 EUR
Total cash-in at close
511860 EUR
🏦 Financing
Loan amount
942900 EUR
Mortgage rate
4.10%
Term
25 years
Monthly payment
5029 EUR
Annual debt service
60350 EUR
📊 Year-1 operating P&L
Gross rent
+72738
Operating costs (22%)
−16002
Net operating income (NOI)
56736
− Debt service
−60350
− Income tax (28%)
−15886
Net cashflow
-19501 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 72738 | 16002 | -19501 | 1387410 | 466614 |
| Y2 | 74920 | 16482 | -18275 | 1429032 | 531263 |
| Y3 | 77168 | 16977 | -17013 | 1471903 | 598123 |
| Y4 | 79483 | 17486 | -15713 | 1516060 | 667272 |
| Y5 | 81867 | 18011 | -14374 | 1561542 | 738789 |
| Y6 | 84323 | 18551 | -12994 | 1608388 | 812758 |
| Y7 | 86853 | 19108 | -11574 | 1656640 | 889266 |
| Y8 | 89459 | 19681 | -10110 | 1706339 | 968403 |
| Y9 | 92142 | 20271 | -8603 | 1757529 | 1050260 |
| Y10 | 94907 | 20879 | -7051 | 1810255 | 1134934 |
| Σ 10y | Cumulative net cashflow | -135206 | Equity at exit | 1134934 | |
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.