Appraiser-grade underwriting
with a few inputs.
Address. Purchase price. Renovation budget. The engine geocodes the subject, pulls FY 2026 HUD Fair Market Rents and CBRE H1 2025 cap rates, builds the stabilized pro forma, and backs out to as-is using the same Appraisal Institute math licensed MAI appraisers use. The cascade waterfall renders in real time — every formula visible, every constant overridable.
Methodology
CBRE H1 2025 cap-rate survey with MSA overlay · FY 2026 HUD Fair Market Rents by ZIP / county · full Appraisal-Institute back-out: hard renovation, soft costs at 12%, lost rent during construction and lease-up, OpEx shortfall during void, marketing & leasing commissions, entrepreneurial incentive at 15% of cost subtotal. Every line of the cascade shows its formula.
Engine is deterministic: same inputs always produce the same valuation. Full methodology: research/appraisal_methodology.md in the project repo.
What you get back
A cascade waterfall page showing As-Stabilized down to As-Is in eight named deductions, plus a sensitivity range across the cap-rate band (low / point / high). The PDF export of the report is lender-ready — the same evidence package goes to every capital partner we shop the deal to.