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Multifamily CapEx Budget Template

A free Excel template that budgets renovation and capital costs for a multifamily acquisition, unit-level for interior costs, and property-level for exterior costs.

Free

Interior CapEx by unit type and condition: Enter unit counts and per-unit renovation cost separately for Classic, Light Reno, and Renovated units, for each unit type in your mix.
Itemized exterior and common area costs: Budget roof, parking lot, landscaping, siding, and other building-wide capital items as individual line items, not one guessed number.
Built-in contingency buffer: Automatically adds a contingency percentage on top of your total budget, so you're not underestimating.

A note on how we build.

Every tool and template on Model The Deal is intentionally simple. Unnecessary complexity gets in the way of understanding. Every formula is visible and nothing is hidden behind a black box.

We actively encourage you to open the model, follow the logic, and rebuild it yourself. While our goal is to give you a working template that is ready to go, it is also to build your understanding of how these calculations actually work.

This template is provided as-is. For general questions or feedback, please contact us.

Once your capex budget is set, plug the totals into the Multifamily Value-Add Model to build out your full acquisition underwriting.