Multifamily Underwriting Software | DealWorthIt

Turn the T12 and rent roll into a clear investment case. Review income, expenses, financing, and projected returns with editable assumptions.
Free account creation. A paid plan is required to analyze your own deals.
Explore a sample multifamily deal → A real published report, built on sample deal data.
Simplified annual example. 75% LTV, 6.5% interest, 30-year amortization. Closing costs, reserves, capital expenditures, and income taxes excluded. Projections are not guaranteed.
Multifamily underwriting turns apartment income and expenses into a model of cash flow, debt service, and exit value. Start with the T12 and rent roll, reconcile the unit mix, then test financing and returns across the hold.
Learn how multifamily underwriting works →
Enter your assumptions. Review the results. Keep every input visible and editable.
Explore the decisions behind your analysis, from the first assumption to the final report.
Map income and expense rows into the model. Review flagged items and edit mapped figures before using them. Document import requires Gold or Diamond.
Project rent growth, expenses, lease-up, reserves, and exit assumptions. Review cash flow and equity year by year. Pro forma projections require Gold or Diamond.
Test renovations, rent increases, new fees, or expense savings as explicit scenarios. See how each change affects NOI and exit value.
Model preferred returns and one residual LP/GP split on Gold or Diamond. Multi-tier IRR hurdles and GP catch-up are not supported.
Save different prices, rates, operating assumptions, or exits for the same property. Silver includes 3 scenarios, Gold 10, and Diamond unlimited. Side-by-side comparison requires Gold or Diamond.
Follow a sample rent roll and T12 into the model. Review income, expenses, and flagged items before approving an import. Document import requires Gold or Diamond.
The document side of this workflow — importing, reviewing and reconciling the T12 and rent roll — in full: T12 & rent roll analysis. Modeling LP/GP economics on the same underwrite: real estate syndication software
Carry the same property from discovery through research, analysis, comparison, and reporting.
Discover on-market and off-market opportunities.
Review ownership, debt, tax, property, comparable, and market data.
Underwrite deals using asset-specific financial models.
Test scenarios and assumptions side-by-side.
Create clear reports for investment decisions, partners, and teams.
Other investment types: Self-Storage · Single Family · New Construction
You underwrite a multifamily property by rebuilding its income and expenses from evidence, then projecting them forward. Start from the rent roll for in-place income and the T12 for actual operating expenses; adjust for vacancy, loss to lease and any expense the buyer will incur that the seller did not; that gives you NOI.
Apply your financing to get debt service, cash flow and DSCR, then project growth and an exit cap across the hold to get IRR and equity multiple. The offer follows from the number the debt and your return target support — not from the asking price.
A T12 — trailing twelve months — is the property’s actual income and expenses for the last twelve months, month by month. It is the closest thing to evidence a seller provides, which is why it is the starting point for underwriting rather than the pro forma the broker attaches beside it.
Reading it means checking whether expenses are complete, whether income is one-off or recurring, and whether the twelve months shown are representative.
Requirements vary by lender, loan program and market, so DealWorthIt does not publish a threshold as fact. What the model does is compute DSCR from your own inputs, so you can test 1.20×, 1.25× or a lender’s stated minimum against the same deal — change the price, the rate or the leverage and watch what each does to coverage and to cash flow before a lender runs the same numbers.
Yes. Import is a shortcut, not a prerequisite.
You can enter the unit mix and rents directly and build the expense side from your own assumptions — which is the normal case for an off-market property where no operating statement exists yet.
Practical guides for your next multifamily analysis.
Research the opportunity, test your assumptions, and share a clear investment report.
A real estate investment intelligence platform: find on-market and off-market properties, research property and market data, analyze deals, compare scenarios, and create investor-ready reports.