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Multifamily Value-Add Model Deal Summary dashboard tab showing key deal metrics and returns Multifamily Value-Add Model sensitivity tables showing IRR and equity multiple across exit cap rate and hold period Multifamily Value-Add Model Rent Schedule tab showing renewal and renovated rents by unit type Multifamily Value-Add Model Debt tab showing loan terms, sizing, and debt coverage inputs Multifamily Value-Add Model Waterfall tab showing LP/GP preferred return and promote split Multifamily Value-Add Model Lender Summary tab, a print-ready one-page loan package

Deal Summary Tab

Multifamily Value-Add Acquisition Model

A complete Excel model built to underwrite value-add multifamily deals, built intentionally simple. Everything you need. Nothing you don't.

$499

  • Unit Renovation Schedule: Renewal and renovated rents by unit type, paced by two monthly drivers. Renewals wind down as renovated units take their place.
  • Flexible Business Plan: Refinance and sale in any year through Year 10, chosen independently.
  • Full LP/GP Waterfall: Preferred return paid first, return of capital only at refinance or sale, promote split last on what remains.
  • Going-In Cap Rate Calculator: Compare cap rate across T12, Day 1, and Pro Forma income, expenses, and occupancy assumptions, all in one tool.
  • Lender Summary: A one-page, print-ready package with loan terms, debt coverage, and NOI, ready to hand to a lender.
  • Dual-Level Returns: Deal-level and investor-level IRR and equity multiple, reported separately.
  • Sensitivity & Risk Analysis: IRR, equity multiple, and sale price, each mapped across exit cap rate and hold period.
  • Verified T12 Reconciliation: Tag your historicals and the model checks itself, so nothing gets silently dropped.
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Delivered instantly after purchase.

Every Tab, Explained

Click through the tabs below to preview the flow and functionality of this model.

Paste your trailing 12-month operating statement and tag each line item to a standardized category.

  • No reformatting needed, just paste directly from your source document
  • Every line is checked: confirms it sums correctly and is properly tagged
  • Feeds every other tab in the model, so this is where you start

Every real input in the model lives here.

  • Deal terms, financing, unit mix, rents, and growth rates in one place
  • Bucket-based renovation engine drives renewal and reno pacing by unit type
  • Utility reimbursement and other income modeled separately, each on its own ramp

Your dashboard for the whole deal.

  • Sources & Uses, going-in cap rate, and key terms in one view
  • Deal-level and investor-level IRR and equity multiple
  • Sensitivity tables for IRR, equity multiple, and sale price, each mapped across exit cap rate and hold period
  • A going-in cap rate calculator comparing T12, Day 1, and Pro Forma income, expenses, and occupancy

A one-page, print-ready package built specifically for a lender.

  • Property info, requested loan terms, and debt coverage in one place
  • Sources & Uses and exit assumptions, pulled directly from the model
  • NOI at T12, Day 1, and Year 1, side by side

The full 10-year projection, year by year.

  • Refinance and sale in any year through Year 10, chosen independently
  • Income and expenses grow consistently off your Year 1 base
  • Debt service and capital event proceeds flow in automatically

Full amortization for both loans, 120 months each.

  • Acquisition loan and refinance loan, sized off your Assumptions inputs
  • Nothing to touch directly, it's fully driven by the rest of the model

The GP/LP return structure.

  • Preferred return paid first, from either operating cash flow or capital event proceeds
  • Return of capital only at a refinance or sale, never from ordinary cash flow
  • Promote split last, on whatever remains
  • Simple or compounding preferred return, your choice

The engine behind your rent income.

  • Every unit tracked month by month through renewal and renovation
  • No double-counting as units move from in-place to stabilized rent
  • The annual rollup feeds Cash Flow directly

Plus an Instructions and Disclaimer tab, covering how to use the model and standard terms of use.

Who This Is For

  • Syndicators, small GPs, and sponsors raising from friends, family, or a family office
  • Analysts and brokers who need a model sophisticated enough to hand to a lender or investor, without building one from scratch
  • Anyone underwriting a value-add deal with a flexible business plan: refinance, hold, or sell, on your own timeline

What You Get

  • The blank model, ready to underwrite your own deal
  • A fully completed model with sample data
  • Lifetime access to future model revisions

This model is built specifically for value-add multifamily deals. For other asset types or business plans, browse our other models.

Behind The Model:

Hi, I'm Michael. I began my career as the first employee of a multifamily investment firm, where I eventually became the firm's sole acquisitions underwriter. I underwrote more than $2 billion in market-rate and LIHTC multifamily acquisition opportunities, contributing to more than $100 million in closed transactions before transitioning into industrial CRE analysis and accounting. All my models reflect how I've actually underwritten and analyzed deals in practice.

Full Bio

FAQ

Built for 100+ unit acquisitions, and scales cleanly to smaller or larger deals. If you can accomplish the business plan within 5 years, this model can handle it.

This model is built and tested in Microsoft Excel. It works on both Windows and Mac versions of Excel. It is not officially supported in Google Sheets; some formulas and formatting may not convert correctly.

No. This model runs entirely on native Excel formulas, no macros, no VBA, no external code. That means it opens fast, calculates fast, and isn't at risk of getting blocked by your firm's macro security settings.

No individual support is included with this purchase. The Instructions tab is built to walk you through the model on its own.

Due to the digital nature of this product, model sales are final - there's no way to take back a file once it's downloaded. That said, I stand behind the model. If something doesn't work as shown, or you find an error, email me and I'll fix it. You won't be left with a broken model and no recourse.

Helpful, but not required. This model is built for someone who wants to actually understand the deal, not just get an output. "Looking behind the curtain" and understanding the mechanics of this model is highly encouraged.

Reach out and let me know. Fixes are rolled into future versions, which you get access to at no additional cost.

Your purchase is licensed for your own use. Redistribution or resale of the model, in whole or in part, isn't permitted.

Not yet, but student discounts are planned. Join the newsletter to hear when they launch.

This model is provided as-is; you're responsible for independently verifying all calculations before relying on them for a real transaction. By purchasing, you agree to our Terms.

A complete value-add multifamily model, built intentionally simple.

$499

Buy Now
Multifamily Value-Add Acquisition Model $499
Buy Now