Taylor Frampton · Private Underwriting
Rental Property Analysis
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Year-one monthly cash flow−$687.75Review ↓
Property & report identity
An address or property name makes the printed report useful without storing it anywhere.Purchase, cash & financing
Totals are derived. Add a second loan only when it is part of the real underwriting.Loan 1
Rent roll & income
Use one row for a simple property. For multifamily, use one row per unit type—totals are always calculated from the rows.Unit typeUnitsSq. ft. / unitMonthly rent
Annual operating plan
Enter $0 only when a category truly does not apply. Management is calculated as a percentage of effective gross income.Long-term and exit assumptions
These are transparent scenario assumptions, not forecasts. They drive the detailed hold, sale, and refinance analysis.The report opens in your browser's print dialog. Choose Save as PDF to keep a local copy.
Rental Property Underwriting ReportInitial underwriting
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Executive overviewTaylor Frampton · Private Underwriting
Underwriting at a glance
What this scenario says today
Year-one monthly cash flow−$687.75
After operating expenses and scheduled debt service.
Initial cash invested$104,000.00
Down payment, costs, improvements, reserves and loan fees.
Net operating income$19,766.40
Cap rate4.39%
Cash-on-cash-7.94%
DSCR0.71×
Gross rent multiplier13.39
Operating expense ratio38.08%
Property scale
Purchase price$450,000.00
Scheduled annual rent$33,600.00
Annual NOI$19,766.40
Annual cash flow−$8,253.00
Year 10 illustration
Modeled value$604,762.37
Modeled equity$297,678.24
Cumulative cash flow−$51,093.57
Net profit if sold$106,298.93
Year-one income base$31,920.00
Effective gross income after 5% vacancy / credit loss and other income.
Annual debt burden$28,019.40
0.71× modeled debt-service coverage.
Year 10 exit lens6.15%
$261,392.50 modeled net sale proceeds before cumulative operating cash flow.
Rental Property Underwriting ReportInitial underwriting
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Purchase & financingTaylor Frampton · Private Underwriting
Acquisition and debt
Sources, uses and loan structure
Cash required
Purchase price$450,000.00
Less total debt−$360,000.00
Down payment$90,000.00
Closing costs$9,000.00
Initial improvements$0.00
Initial reserves$5,000.00
Loan fees / points$0.00
Initial cash invested$104,000.00
Property benchmarks
Cost per unit$450,000.00
Cost per square foot—
Average monthly rent / unit$2,800.00
Monthly rent / square foot—
Annual scheduled rent$33,600.00
Annual effective income$31,920.00
Financing detail
| Loan | Principal | LTV | Rate | Amortization | Points | Monthly P&I + PMI |
|---|---|---|---|---|---|---|
| First mortgage | $360,000.00 | 80.00% | 6.75% | 30 years | 0.00% | $2,334.95 |
Total debt$360,000.00
Down payment$90,000.00
Annual debt service$28,019.40
Debt service coverage0.71×
Rental Property Underwriting ReportInitial underwriting
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Year-one operationsTaylor Frampton · Private Underwriting
Income, expenses and cash flow
Detailed operating presentation
Annual income
Scheduled rent$33,600.00
Other income$0.00
Vacancy / credit loss−$1,680.00
Effective gross income$31,920.00
Annual operating expenses
Property taxes−$3,800.00
Insurance−$1,600.00
HOA$0.00
Owner-paid utilities$0.00
Management−$2,553.60
Maintenance−$1,800.00
Capital reserves−$1,800.00
Other expenses−$600.00
Total operating expenses−$12,153.60
Effective gross income$31,920.00
Less operating expenses−$12,153.60
Net operating income$19,766.40
Less annual debt service−$28,019.40
Year-one cash flow−$8,253.00
Monthly cash flow−$687.75
Expense ratio38.08%
Cap rate4.39%
Cash-on-cash-7.94%
Rental Property Underwriting ReportInitial underwriting
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Buy-and-hold projectionTaylor Frampton · Private Underwriting
Operations across selected holding periods
Income and return profile
All columns are end-of-year snapshots through Year 35. Income grows at 3% annually; fixed operating expenses grow at 2.5%.
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 20 | Year 30 | Year 35 |
|---|---|---|---|---|---|---|---|---|
| Scheduled rent | $33,600.00 | $34,608.00 | $35,646.24 | $37,817.10 | $43,840.38 | $58,917.80 | $79,180.60 | $91,792.02 |
| Vacancy loss | −$1,680.00 | −$1,730.40 | −$1,782.31 | −$1,890.86 | −$2,192.02 | −$2,945.89 | −$3,959.03 | −$4,589.60 |
| Effective gross income | $31,920.00 | $32,877.60 | $33,863.93 | $35,926.24 | $41,648.36 | $55,971.91 | $75,221.57 | $87,202.42 |
| Operations | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 20 | Year 30 | Year 35 |
|---|---|---|---|---|---|---|---|---|
| Operating expenses | −$12,153.60 | −$12,470.21 | −$12,795.10 | −$13,470.70 | −$15,320.95 | −$19,824.79 | −$25,663.24 | −$29,203.28 |
| Net operating income | $19,766.40 | $20,407.39 | $21,068.83 | $22,455.54 | $26,327.41 | $36,147.12 | $49,558.33 | $57,999.14 |
| Debt service | −$28,019.40 | −$28,019.40 | −$28,019.40 | −$28,019.40 | −$28,019.40 | −$28,019.40 | −$28,019.40 | $0.00 |
| Annual cash flow | −$8,253.00 | −$7,612.01 | −$6,950.57 | −$5,563.86 | −$1,691.99 | $8,127.72 | $21,538.93 | $57,999.14 |
| Cumulative cash flow | −$8,253.00 | −$15,865.01 | −$22,815.58 | −$34,647.53 | −$51,093.57 | −$16,530.53 | $135,070.75 | $407,660.92 |
| Operating returns | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 20 | Year 30 | Year 35 |
|---|---|---|---|---|---|---|---|---|
| Cap rate · purchase | 4.39% | 4.53% | 4.68% | 4.99% | 5.85% | 8.03% | 11.01% | 12.89% |
| Cap rate · market value | 4.26% | 4.27% | 4.28% | 4.30% | 4.35% | 4.45% | 4.54% | 4.58% |
| Cash-on-cash return | -7.94% | -7.32% | -6.68% | -5.35% | -1.63% | 7.82% | 20.71% | 55.77% |
| Annual cash flow ÷ modeled equity | -7.69% | -6.07% | -4.82% | -3.03% | -0.57% | 1.33% | 1.97% | 4.58% |
Rental Property Underwriting ReportInitial underwriting
TF
Buy-and-hold projectionTaylor Frampton · Private Underwriting
Capital position and modeled exit
Debt, equity and sale analysis
A sale at each holding period assumes 6% disposition costs and payoff of modeled debt. IRR includes initial cash, annual cash flows and net sale proceeds.
| Loan & equity | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 20 | Year 30 | Year 35 |
|---|---|---|---|---|---|---|---|---|
| Market value | $463,500.00 | $477,405.00 | $491,727.15 | $521,673.33 | $604,762.37 | $812,750.06 | $1,092,268.11 | $1,266,238.10 |
| Loan balance at sale | $356,163.35 | $352,059.55 | $347,670.02 | $337,952.78 | $307,084.13 | $203,352.01 | $0.00 | $0.00 |
| Equity | $107,336.65 | $125,345.45 | $144,057.13 | $183,720.55 | $297,678.24 | $609,398.05 | $1,092,268.11 | $1,266,238.10 |
| Loan-to-value | 76.84% | 73.74% | 70.70% | 64.78% | 50.78% | 25.02% | 0.00% | 0.00% |
| Potential cash-out refinance | $0.00 | $0.00 | $11,290.80 | $42,868.75 | $134,392.40 | $389,955.53 | $797,355.72 | $924,353.81 |
| Sale analysis | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 | Year 20 | Year 30 | Year 35 |
|---|---|---|---|---|---|---|---|---|
| Equity | $107,336.65 | $125,345.45 | $144,057.13 | $183,720.55 | $297,678.24 | $609,398.05 | $1,092,268.11 | $1,266,238.10 |
| Selling costs | −$27,810.00 | −$28,644.30 | −$29,503.63 | −$31,300.40 | −$36,285.74 | −$48,765.00 | −$65,536.09 | −$75,974.29 |
| Net sale proceeds | $79,526.65 | $96,701.15 | $114,553.50 | $152,420.15 | $261,392.50 | $560,633.05 | $1,026,732.02 | $1,190,263.81 |
| Cumulative cash flow | −$8,253.00 | −$15,865.01 | −$22,815.58 | −$34,647.53 | −$51,093.57 | −$16,530.53 | $135,070.75 | $407,660.92 |
| Initial cash invested (basis) | $104,000.00 | $104,000.00 | $104,000.00 | $104,000.00 | $104,000.00 | $104,000.00 | $104,000.00 | $104,000.00 |
| Net profit | −$32,726.35 | −$23,163.86 | −$12,262.08 | $13,772.62 | $106,298.93 | $440,102.52 | $1,057,802.77 | $1,493,924.73 |
| Internal rate of return | -31.47% | -11.33% | -3.78% | 2.22% | 6.15% | 7.48% | 7.71% | 7.75% |
| Cumulative ROI if sold | -31.47% | -22.27% | -11.79% | 13.24% | 102.21% | 423.18% | 1017.12% | 1436.47% |
Rental Property Underwriting ReportInitial underwriting
TF
Long-term outlookTaylor Frampton · Private Underwriting
Hold-period visual profile
Cash flow, capital and return through Year 35
Debt service becomes $0 after each loan's stated amortization term; that change is shown in the annual cash-flow line rather than treated as a new income assumption.
Annual cash flow
Market valueEquityLoan balance
When modeled debt is fully paid off, loan balance reaches $0 and modeled equity equals modeled value.
IRR
Rental Property Underwriting ReportInitial underwriting
TF
Rent roll & assumptionsTaylor Frampton · Private Underwriting
Source assumptions
What the analysis is built on
| Unit type | Units | Sq. ft. / unit | Rent / unit | Monthly total | Annual total |
|---|---|---|---|---|---|
| Primary residence | 1 | — | $2,800.00 | $2,800.00 | $33,600.00 |
| Total / average | 1 | — | $2,800.00 | $2,800.00 | $33,600.00 |
Year-one operating inputs
Property carrying costs
Property taxes$3,800.00
Insurance$1,600.00
HOA$0.00
Owner-paid utilities$0.00
Management, upkeep & reserves
Management$2,553.60
Maintenance$1,800.00
Capital reserves$1,800.00
Other expenses$600.00
Vacancy / credit loss 5%Management 8%Rent growth 3%Expense growth 2.5%Appreciation 3%Sale costs 6%Refinance LTV 75%Refinance costs 2%
Verify before relying on this scenario
- Reconcile current leases, occupied rents, market rents and unit square footage.
- Confirm taxes, insurance, utilities, HOA obligations, maintenance and reserve needs.
- Match loan principal, rate, amortization, points, mortgage insurance and payoff terms to lender documents.
- Review value, refinance, disposition and tax assumptions with the appropriate qualified professionals.