NORTHCAP PARTNERS All sector models

01 ยท Rental housing

Multifamily
underwriting model.

A unit-level view of rent, occupancy, operating costs, renovation scope, and exit value.

Model purpose

The model connects property operations to the capital plan so the team can test how leasing, renovation pace, and financing assumptions affect returns.

01

Designed for

  • Acquisition and refinance
  • Value-add renovation
  • Lease-up and stabilization
  • Ground-up development
02

Core inputs

  1. 01Unit mix and current rent roll
  2. 02Market rent and renewal assumptions
  3. 03Operating history and budget
  4. 04Renovation scope and timing
  5. 05Debt terms and capital structure
  6. 06Exit cap rate and sale timing
03

Decision outputs

  • Monthly property cash flow
  • Renovation and lease-up schedule
  • Debt service and covenant view
  • Levered and unlevered returns

Have a multifamily opportunity?

Put the model
to work on the deal.

Submit the opportunity