Investment Underwriter
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🏢Multifamily
🏛Office
VAValue-Add
BRBridge/Debt
OPOpportunistic
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Investment Underwriter·Powered by Maze Technology Inc.
Live
Overview
Unit Mix
Rent Roll
Proforma
Debt
Returns
LP/GP Waterfall
Sensitivity
IC Summary
✨ AI
Purchase Price
Y1 NOI / Cap Rate
Total Capitalization
Equity Required

Property Information

Acquisition Economics

$
%
$
Closing, legal, broker
$

Revenue Assumptions

Multifamily
$/mo
$/mo
%/yr
%
$/unit/mo
$/unit/mo
%
%

Revenue Assumptions

Office
$/SF/yr
$/SF/yr
%/yr
%
%
$/SF
% new EGR
$/SF/yr
Tenant reimbursements
$/yr
%

Operating Expenses

$/yr
$/yr
$/yr
$/yr
% EGI
$/yr
$/yr
$/unit/yr
$/SF/yr
%/yr
%
%

Market Intelligence

Live Benchmarks
Type a city in the Market / Submarket field above — benchmarks will populate automatically for that market.

Bridge Loan Parameters

Bridge/Debt
$
%
bps
%
months
%
%
% occ
%
Estimated Timeline
All-In Rate
Monthly Int. Cost
Gross Loan Fees
Takeout Proceeds

Development Budget

Opportunistic/Dev
$
$/SF
% of Hard
$
%
% of Total Cost
Estimated total interest
%
months
months
%
Total Dev Cost
Cost / SF
Yield on Cost
Dev Spread
vs exit cap
Unit mix drives GPR. Market rent applies rent growth from Overview for forward-year projections.

Unit Mix & Rent Schedule

Multifamily
Unit Type# UnitsAvg SFCurrent RentMarket RentPremiumMonthly GPRAnnual GPR
TOTAL / WEIGHTED AVG

Renovation ROI Calculator

$
$/unit/mo
Payback Period
Annualized ROI on Cost
✓ Enter individual tenant leases. Expiry colors: <12mo   12–24mo   24mo+

Tenant Rent Roll

Office
Tenant NameSFSuiteLease Exp. Rent/SF/yrAnnual RentEscalation Lease TypeTI ($/SF)LC%% Bldg
TOTAL OCCUPIED
Occupied:   WALT:   Avg Rent/SF:

Lease Expiry Schedule

Office
Expires <12mo 12–24mo 24mo+ Vacant
ⓘ Auto-calculates from Overview. All values in $.
Line ItemYear 1Year 2Year 3Year 4Year 5
INCOME
Gross Potential Rent
Less: Vacancy & Credit Loss
Less: Concessions
Other / Ancillary Income
Effective Gross Income
OPERATING EXPENSES
Property Taxes
Insurance
Utilities
Repairs & Maintenance
Property Management
Payroll & Admin
Marketing & Leasing
CapEx Reserves
Total Operating Expenses
NET OPERATING INCOME
DEBT SERVICE
Annual Debt Service
CASH FLOW AFTER DEBT SERVICE
METRICS
DSCR
Cash-on-Cash
Expense Ratio
NOI / SF
Loan Amount
Annual Debt Service
DSCR (Year 1)
Min. 1.25x required
Break-Even Occupancy

Senior Loan Parameters

%
%
yrs
yrs
yrs
%

Amortization Schedule

YearBeg. BalanceInterestPrincipalTotal PaymentEnd. BalanceLTVDSCR
Levered IRR
Equity perspective
Equity Multiple
Total MOIC
Avg Cash-on-Cash
Unlevered IRR
Asset perspective
Value Creation
Exit − Entry

Sources & Uses

ItemAmount% Total
Purchase Price
Acquisition Costs
CapEx Budget
Total Capitalization100%
Senior Loan
Equity (LP+GP)
Total Capital Stack100%

Cash Flow Realization

Gross Exit Price
Loan Repayment
Operating CFs (Y1–Y5)
Total Return to Equity
Tiered equity waterfall with preferred return, GP catch-up, and promote splits. Returns flow LP → Pref → GP Catch-Up → Split tiers.

Waterfall Structure

LP/GP
Capital Contributions
%
%
% p.a.
Promote Tiers (Cumulative IRR Hurdles)
1
GP Catch-Up
%
%
%
2
Tier 2 Split
%
%
%
3
Tier 3 Excess
%
%
%

Distribution Waterfall

Enter deal data and calculate to generate waterfall

LP vs GP Summary

LP Total Return
GP Total (incl. Promote)
LP vs GP Distribution Breakdown
⚠ Base highlighted blue. Green ≥ 18% IRR | Amber 12–18% | Red < 12%

IRR Matrix — Rent Growth vs Exit Cap Rate

EM Matrix — LTV vs Interest Rate

Scenario Analysis

🐻 Bear Case
Rent Growth1.0%
Exit Cap6.75%
Vacancy12%
IRR
⚖ Base Case
Rent Growth3.5%
Exit Cap5.50%
Vacancy5%
IRR
🐂 Bull Case
Rent Growth5.0%
Exit Cap4.75%
Vacancy3%
IRR
Levered IRR
Equity Multiple
DSCR (Year 1)
Going-In Cap Rate

Deal Parameters

Deal Name
Asset Type
Strategy
Market
Purchase Price
Price / Unit
Total Capitalization
Going-In Cap
Exit Cap Rate
Hold Period

Return Metrics

Levered IRR
Unlevered IRR
Equity Multiple
Y1 Cash-on-Cash
DSCR (Y1)
LTV at Close
Total Equity
Senior Loan
Exit Value
Total Profit

Investment Memorandum

AI Deal Analysis
Maze AI Analysis · Risk flags, assumption benchmarks & full IC memo
💡 Fill in your deal data in the Overview tab first, then click Run AI Analysis. Our AI agent will review every assumption, benchmark against market norms, flag risks by severity, and write a full Investment Committee memo you can copy and share.
🤖
Ready to analyse your deal
Complete your deal data and click Run AI Analysis above