Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Penthouse-style apartment, 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
-1072
10-yr return
92%
Net cashflow / mo
-1072
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
1047100 EUR
Down payment (30%)
314130 EUR
Acquisition fees (10.0%)
104710 EUR
Mortgage principal
732970 EUR
Total cash-in at close
418840 EUR
🏦 Financing
Loan amount
732970 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
3829 EUR
Annual debt service
45942 EUR
📊 Year-1 operating P&L
Gross rent
+52355
Operating costs (22%)
−11518
Net operating income (NOI)
40837
− Debt service
−45942
− Income tax (19%)
−7759
Net cashflow
-12864 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 52355 | 11518 | -12864 | 1078513 | 363213 |
| Y2 | 53926 | 11864 | -11872 | 1110868 | 413940 |
| Y3 | 55543 | 12220 | -10850 | 1144194 | 466368 |
| Y4 | 57210 | 12586 | -9797 | 1178520 | 520553 |
| Y5 | 58926 | 12964 | -8713 | 1213876 | 576557 |
| Y6 | 60694 | 13353 | -7596 | 1250292 | 634441 |
| Y7 | 62515 | 13753 | -6446 | 1287801 | 694270 |
| Y8 | 64390 | 14166 | -5261 | 1326435 | 756111 |
| Y9 | 66322 | 14591 | -4040 | 1366228 | 820032 |
| Y10 | 68311 | 15029 | -2783 | 1407215 | 886104 |
| Σ 10y | Cumulative net cashflow | -80223 | Equity at exit | 886104 | |
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.