Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Retail unit on Malasaña · Ref 3827
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
-1675
10-yr return
92%
Net cashflow / mo
-1675
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
1636500 EUR
Down payment (30%)
490950 EUR
Acquisition fees (10.0%)
163650 EUR
Mortgage principal
1145550 EUR
Total cash-in at close
654600 EUR
🏦 Financing
Loan amount
1145550 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
5984 EUR
Annual debt service
71803 EUR
📊 Year-1 operating P&L
Gross rent
+81825
Operating costs (22%)
−18002
Net operating income (NOI)
63824
− Debt service
−71803
− Income tax (19%)
−12126
Net cashflow
-20106 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 81825 | 18002 | -20106 | 1685595 | 567661 |
| Y2 | 84280 | 18542 | -18555 | 1736163 | 646942 |
| Y3 | 86808 | 19098 | -16957 | 1788248 | 728880 |
| Y4 | 89412 | 19671 | -15312 | 1841895 | 813566 |
| Y5 | 92095 | 20261 | -13617 | 1897152 | 901094 |
| Y6 | 94858 | 20869 | -11872 | 1954067 | 991560 |
| Y7 | 97703 | 21495 | -10074 | 2012689 | 1085066 |
| Y8 | 100634 | 22140 | -8222 | 2073069 | 1181716 |
| Y9 | 103653 | 22804 | -6314 | 2135261 | 1281617 |
| Y10 | 106763 | 23488 | -4350 | 2199319 | 1384882 |
| Σ 10y | Cumulative net cashflow | -125379 | Equity at exit | 1384882 | |
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.