Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Family villa with pool, 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
-390
10-yr return
92%
Net cashflow / mo
-390
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
380600 EUR
Down payment (30%)
114180 EUR
Acquisition fees (10.0%)
38060 EUR
Mortgage principal
266420 EUR
Total cash-in at close
152240 EUR
🏦 Financing
Loan amount
266420 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
1392 EUR
Annual debt service
16699 EUR
📊 Year-1 operating P&L
Gross rent
+19030
Operating costs (22%)
−4187
Net operating income (NOI)
14843
− Debt service
−16699
− Income tax (19%)
−2820
Net cashflow
-4676 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 19030 | 4187 | -4676 | 392018 | 132021 |
| Y2 | 19601 | 4312 | -4315 | 403779 | 150459 |
| Y3 | 20189 | 4442 | -3944 | 415892 | 169515 |
| Y4 | 20795 | 4575 | -3561 | 428369 | 189211 |
| Y5 | 21418 | 4712 | -3167 | 441220 | 209567 |
| Y6 | 22061 | 4853 | -2761 | 454456 | 230607 |
| Y7 | 22723 | 4999 | -2343 | 468090 | 252353 |
| Y8 | 23405 | 5149 | -1912 | 482133 | 274831 |
| Y9 | 24107 | 5303 | -1469 | 496597 | 298065 |
| Y10 | 24830 | 5463 | -1012 | 511495 | 322081 |
| Σ 10y | Cumulative net cashflow | -29159 | Equity at exit | 322081 | |
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.