Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Bright pied-à-terre in Alfama
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
4.2%
Cashflow / mo
-1007
10-yr return
95%
Net cashflow / mo
-1007
EUR · after debt service & taxes
Cap rate
4.2%
NOI ÷ asking price
Cash-on-cash
-3.8%
Year-1 cashflow ÷ cash-in
10-yr total return
95%
6.9% annualised
💼 Acquisition
Asking price
835100 EUR
Down payment (30%)
250530 EUR
Acquisition fees (8.0%)
66808 EUR
Mortgage principal
584570 EUR
Total cash-in at close
317338 EUR
🏦 Financing
Loan amount
584570 EUR
Mortgage rate
4.10%
Term
25 years
Monthly payment
3118 EUR
Annual debt service
37415 EUR
📊 Year-1 operating P&L
Gross rent
+45095
Operating costs (22%)
−9921
Net operating income (NOI)
35174
− Debt service
−37415
− Income tax (28%)
−9849
Net cashflow
-12090 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 45095 | 9921 | -12090 | 860153 | 289287 |
| Y2 | 46448 | 10219 | -11330 | 885958 | 329367 |
| Y3 | 47842 | 10525 | -10547 | 912536 | 370819 |
| Y4 | 49277 | 10841 | -9741 | 939912 | 413689 |
| Y5 | 50755 | 11166 | -8911 | 968110 | 458027 |
| Y6 | 52278 | 11501 | -8056 | 997153 | 503886 |
| Y7 | 53846 | 11846 | -7175 | 1027068 | 551319 |
| Y8 | 55462 | 12202 | -6268 | 1057880 | 600381 |
| Y9 | 57126 | 12568 | -5334 | 1089616 | 651130 |
| Y10 | 58839 | 12945 | -4371 | 1122305 | 703625 |
| Σ 10y | Cumulative net cashflow | -83824 | Equity at exit | 703625 | |
Modelling assumptions
- Country baseline: PT — operating costs 22% of gross rent, income tax 28%, 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.