Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Architect-designed villa in Gràcia
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
-1306
10-yr return
87%
Net cashflow / mo
-1306
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
1105200 EUR
Down payment (30%)
331560 EUR
Acquisition fees (10.0%)
110520 EUR
Mortgage principal
773640 EUR
Total cash-in at close
442080 EUR
🏦 Financing
Loan amount
773640 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
4041 EUR
Annual debt service
48492 EUR
📊 Year-1 operating P&L
Gross rent
+51944
Operating costs (22%)
−11428
Net operating income (NOI)
40517
− Debt service
−48492
− Income tax (19%)
−7698
Net cashflow
-15673 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 51944 | 11428 | -15673 | 1138356 | 383367 |
| Y2 | 53503 | 11771 | -14689 | 1172507 | 436908 |
| Y3 | 55108 | 12124 | -13674 | 1207682 | 492245 |
| Y4 | 56761 | 12487 | -12630 | 1243912 | 549437 |
| Y5 | 58464 | 12862 | -11554 | 1281230 | 608548 |
| Y6 | 60218 | 13248 | -10446 | 1319667 | 669644 |
| Y7 | 62024 | 13645 | -9305 | 1359257 | 732793 |
| Y8 | 63885 | 14055 | -8129 | 1400034 | 798065 |
| Y9 | 65802 | 14476 | -6918 | 1442035 | 865532 |
| Y10 | 67776 | 14911 | -5671 | 1485296 | 935271 |
| Σ 10y | Cumulative net cashflow | -108688 | Equity at exit | 935271 | |
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.