For Buyers Evaluating a Property

The Underwriter

A full pro forma on your assumptions.

Property & Acquisition

Purchase price

Number of units

Closing costs

Land transfer tax, legal, inspections.

Immediate capital / reno budget

Optional. Adds to total cash invested.

Income

Rent roll — unit type, count, monthly rent per unit.

Gross monthly residential rent

Kept from Simple mode until distributed into the roll; the total always reconciles.

Other monthly income

Parking, laundry, storage.

Other income — unallocated

Entered in Simple mode; distribute below or leave here.

Parking

Laundry

Storage / other income

Vacancy & bad debt ?

Applied against gross potential rent.

Operating Expenses ?

Property taxes

Operating expenses (excl. property tax)

One lump figure in Simple mode; itemize in Advanced.

Fixed

Insurance

Utilities & Metering ?

Enter only landlord-paid amounts.

Hydro

Heat

Water

Gas (if separate)

Operations

Property management

Superintendent / caretaker

Repairs & maintenance

Turnover / make-ready

Common area cleaning

Grounds & Seasonal

Snow removal

Landscaping / grounds

Waste removal

Building Systems

Elevator contract

Fire & life-safety monitoring / inspections

Pest control

Admin

Advertising & leasing

Legal, accounting & admin

Other

Reserves

Capital reserve ?

Per unit, per year.

Financing ?

Down payment

Interest rate

Amortization

Insurer / lender premium (if any)

Added to the loan amount.

Optional

Email me this underwrite

A summary of your inputs and results, sent to your inbox. The tool works fully without it.

Why nothing is pre-filled

Every assumption in an underwrite changes the answer, and the assumptions are yours to make. A tool that arrives with numbers already in the boxes is making your decision for you. This one arrives empty. Where a listing pre-fills factual data, the figures are marked, remain editable, and should be verified independently.

What this tool does and does not do

It performs current-year arithmetic on the figures you enter: income, expenses, financing, and the ratios that follow. It does not model appreciation, future rents, or multi-year returns, and it does not score, qualify, or recommend. The stress strip re-runs the same arithmetic at higher rates and vacancy — it is sensitivity, not prediction.

Tax and structuring questions

How a purchase should be structured, financed, and taxed depends on your circumstances. Those questions belong with your own accountant, lender, and legal counsel.

McKinney Realty — The Underwriter

Pro Forma — Current Year

This tool performs arithmetic on figures you enter. It is not investment, lending, tax, or legal advice, and no output is a projection or promise of performance. Assumptions are yours; listing figures are as provided and must be independently verified.

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NOI

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Cap rate at price

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Cash flow / yr

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DSCR

Price per unit—

Gross potential rent—

Less vacancy—

Other income—

Effective gross income—

Total operating expenses—

Opex ratio (% of EGI)—

Annual debt service—

Total cash invested—

Cash-on-cash—

Breakeven occupancy—