Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Bright pied-à-terre in 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
-1358
10-yr return
87%
Net cashflow / mo
-1358
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
1149400 EUR
Down payment (30%)
344820 EUR
Acquisition fees (10.0%)
114940 EUR
Mortgage principal
804580 EUR
Total cash-in at close
459760 EUR
🏦 Financing
Loan amount
804580 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
4203 EUR
Annual debt service
50431 EUR
📊 Year-1 operating P&L
Gross rent
+54022
Operating costs (22%)
−11885
Net operating income (NOI)
42137
− Debt service
−50431
− Income tax (19%)
−8006
Net cashflow
-16300 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 54022 | 11885 | -16300 | 1183882 | 398699 |
| Y2 | 55642 | 12241 | -15276 | 1219398 | 454382 |
| Y3 | 57312 | 12609 | -14221 | 1255980 | 511931 |
| Y4 | 59031 | 12987 | -13135 | 1293660 | 571410 |
| Y5 | 60802 | 13376 | -12016 | 1332470 | 632885 |
| Y6 | 62626 | 13778 | -10864 | 1372444 | 696425 |
| Y7 | 64505 | 14191 | -9677 | 1413617 | 762099 |
| Y8 | 66440 | 14617 | -8454 | 1456026 | 829981 |
| Y9 | 68433 | 15055 | -7195 | 1499706 | 900147 |
| Y10 | 70486 | 15507 | -5898 | 1544697 | 972675 |
| Σ 10y | Cumulative net cashflow | -113035 | Equity at exit | 972675 | |
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.