Country-aware · Mortgage · Taxes · Cashflow · Appreciation
Underwrite the deal on
Underwrite the deal on
Renovated 1-bedroom flat overlooking Alfama · Ref 1013
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
-1237
10-yr return
95%
Net cashflow / mo
-1237
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
1025300 EUR
Down payment (30%)
307590 EUR
Acquisition fees (8.0%)
82024 EUR
Mortgage principal
717710 EUR
Total cash-in at close
389614 EUR
🏦 Financing
Loan amount
717710 EUR
Mortgage rate
4.10%
Term
25 years
Monthly payment
3828 EUR
Annual debt service
45937 EUR
📊 Year-1 operating P&L
Gross rent
+55366
Operating costs (22%)
−12181
Net operating income (NOI)
43186
− Debt service
−45937
− Income tax (28%)
−12092
Net cashflow
-14843 EUR
📈 10-year projection
3.0% capital appreciation /yr| Year | Gross rent | Opex | Net cashflow | Property value | Equity |
|---|---|---|---|---|---|
| Y1 | 55366 | 12181 | -14843 | 1056059 | 355174 |
| Y2 | 57027 | 12546 | -13910 | 1087741 | 404383 |
| Y3 | 58738 | 12922 | -12950 | 1120373 | 455275 |
| Y4 | 60500 | 13310 | -11960 | 1153984 | 507909 |
| Y5 | 62315 | 13709 | -10941 | 1188604 | 562346 |
| Y6 | 64185 | 14121 | -9891 | 1224262 | 618650 |
| Y7 | 66110 | 14544 | -8809 | 1260990 | 676886 |
| Y8 | 68093 | 14981 | -7696 | 1298819 | 737122 |
| Y9 | 70136 | 15430 | -6548 | 1337784 | 799429 |
| Y10 | 72240 | 15893 | -5367 | 1377917 | 863881 |
| Σ 10y | Cumulative net cashflow | -102915 | Equity at exit | 863881 | |
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.