Appraiser-grade underwriting
with just a few inputs.
Address. Purchase price. Renovation budget. The engine geocodes the subject, pulls market rents and cap rates, builds the stabilized pro forma, and backs out to as-is using the same Appraisal Institute math licensed appraisers use. Cascade waterfall report renders in real time.
/engine/ on this same host. Open it directly: open in new tab ↗
Methodology
CBRE H1 2025 cap rate survey + MSA overlay · FY 2026 HUD Fair Market Rents · Appraisal Institute back-out (hard renovation, soft costs at 12%, lost rent during construction, OpEx shortfall during lease-up, marketing & leasing commissions, entrepreneurial incentive at 15% of cost subtotal). Every line in the cascade shows its formula.
For the full methodology spec see research/appraisal_methodology.md in the project repo. The engine is deterministic — the same inputs always produce the same valuation.