Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Penthouse-style apartment, Centro Histórico · Ref 7272
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
4.7%
Cashflow / mo
-566
10-yr return
111%
Net cashflow / mo
-566
EUR · after debt service & taxes
Cap rate
4.7%
NOI ÷ asking price
Cash-on-cash
-1.5%
Year-1 cashflow ÷ cash-in
10-yr total return
111%
7.7% annualised
💼 Acquisition
Asking price
1138600 EUR
Down payment (30%)
341580 EUR
Acquisition fees (10.0%)
113860 EUR
Mortgage principal
797020 EUR
Total cash-in at close
455440 EUR
🏦 Financing
Loan amount
797020 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
4163 EUR
Annual debt service
49957 EUR
📊 Year-1 operating P&L
Gross rent
+68316
Operating costs (22%)
−15030
Net operating income (NOI)
53286
− Debt service
−49957
− Income tax (19%)
−10124
Net cashflow
-6795 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 68316 | 15030 | -6795 | 1172758 | 394952 |
| Y2 | 70365 | 15480 | -5500 | 1207941 | 450112 |
| Y3 | 72476 | 15945 | -4166 | 1244179 | 507121 |
| Y4 | 74651 | 16423 | -2793 | 1281504 | 566041 |
| Y5 | 76890 | 16916 | -1378 | 1319949 | 626939 |
| Y6 | 79197 | 17423 | 80 | 1359548 | 689881 |
| Y7 | 81573 | 17946 | 1581 | 1400334 | 754938 |
| Y8 | 84020 | 18484 | 3127 | 1442344 | 822183 |
| Y9 | 86541 | 19039 | 4719 | 1485615 | 891689 |
| Y10 | 89137 | 19610 | 6360 | 1530183 | 963536 |
| Σ 10y | Cumulative net cashflow | -4765 | Equity at exit | 963536 | |
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.