Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Penthouse-style apartment, Centro Histórico · Ref 4790
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
-182
10-yr return
111%
Net cashflow / mo
-182
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
366600 EUR
Down payment (30%)
109980 EUR
Acquisition fees (10.0%)
36660 EUR
Mortgage principal
256620 EUR
Total cash-in at close
146640 EUR
🏦 Financing
Loan amount
256620 EUR
Mortgage rate
3.90%
Term
25 years
Monthly payment
1340 EUR
Annual debt service
16085 EUR
📊 Year-1 operating P&L
Gross rent
+21996
Operating costs (22%)
−4839
Net operating income (NOI)
17157
− Debt service
−16085
− Income tax (19%)
−3260
Net cashflow
-2188 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 21996 | 4839 | -2188 | 377598 | 127165 |
| Y2 | 22656 | 4984 | -1771 | 388926 | 144925 |
| Y3 | 23336 | 5134 | -1341 | 400594 | 163280 |
| Y4 | 24036 | 5288 | -899 | 412612 | 182251 |
| Y5 | 24757 | 5446 | -444 | 424990 | 201858 |
| Y6 | 25499 | 5610 | 26 | 437740 | 222124 |
| Y7 | 26264 | 5778 | 509 | 450872 | 243071 |
| Y8 | 27052 | 5952 | 1007 | 464398 | 264722 |
| Y9 | 27864 | 6130 | 1520 | 478330 | 287101 |
| Y10 | 28700 | 6314 | 2048 | 492680 | 310234 |
| Σ 10y | Cumulative net cashflow | -1534 | Equity at exit | 310234 | |
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.