Building a Large Multifamily Underwriting Model in Public
Hello everyone,
After sharing a small multifamily deal analyzer here recently and receiving some helpful feedback, I’ve been working on a more advanced underwriting model for larger value-add multifamily projects and wanted to share a quick preview as I continue refining it.
The goal has been to maintain a clean, user-friendly structure while allowing for more detailed, real-world analysis. This version incorporates:
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- Value-add renovation underwriting
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- Dynamic rent and expense assumptions
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- Refinance logic and DSCR testing
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- A full 10-year proforma with key return metrics
- Deal dashboard with key return metrics and indicators of success
I’m attaching a screenshot of the inputs and dashboard page so you can get a sense of how it’s structured.
For those actively underwriting multifamily deals, I’d be interested to hear:
What do you wish most models handled better in practice?
Happy to share more context with anyone who finds this useful.
