CRE Finance Calculators
Free tools to model loan structures, funding eligibility, and investment returns across multifamily, industrial, office, retail, residential, and owner-occupied CRE assets.
Amortization
Monthly payment, P&I split, total interest, and full CSV schedule export.
DSCR
Debt service coverage ratio with back-solve for supportable loan at target DSCR.
Debt Yield
NOI ÷ Loan. Rate-agnostic lender threshold test with max proceeds solve.
Cap Rate
Property value from NOI and market cap rate, or solve for implied cap rate.
IRR
Internal rate of return for periodic cash flows with Newton-Raphson + bisection solver.
Cash-on-Cash
Annual cash flow ÷ equity invested. Derives from NOI, debt service, and closing costs.
Refinance Analysis
Payment delta, interest savings, breakeven horizon, and cash-out comparison.
SBA 504 Loan
50/40/10 tranche splits, borrower equity, and approximate blended effective rate.
NOI Calculator
EGI and stabilized NOI from gross income, vacancy rate, and operating expenses.
LTV & Proceeds
Max loan proceeds and required borrower equity at a given LTV cap.
After Repaired Value
Post-renovation ARV from current value, reno cost, and market uplift assumptions.
ADR / RevPAR
Average daily rate, occupied nights, room revenue, and RevPAR benchmarking.
Balloon Payment
Projected payoff balance at maturity for partially amortizing CRE loans.
Yield Maintenance
Approximate make-whole prepayment penalty vs. reinvestment (Treasury) rate.
Break-Even Occupancy
Vacancy rate at which NOI exactly covers debt service — critical stress-test metric.
Loan Constant (K-Factor)
Annual debt service per dollar of loan. Includes rate/term matrix across scenarios.
Gross Rent Multiplier
Purchase price ÷ gross annual rent. Fast screening metric for income-producing assets.
Equity Multiple
Total distributions ÷ equity invested. Pairs with IRR to tell the full return story.
Construction Loan
Draw schedule, interest reserve, and total project cost across phases. Ideal for developers.
Debt Service Reserve
Cash reserve needed to cover X months of debt service at a lender's minimum DSCR floor.
Frequently Asked Questions
How do DSCR and Debt Yield differ?
DSCR measures the cushion of NOI vs. annual debt service and is sensitive to rate and amortization. Debt Yield is NOI ÷ Loan Amount and is rate-agnostic — it anchors proceeds to property cash flow irrespective of coupon. Lenders often underwrite to both simultaneously.
What's a typical target Debt Yield?
Targets vary by product, market, leverage, and business plan. Stabilized core deals can underwrite to lower thresholds than transitional assets. Always confirm the target with your lender and program guide.
What is Yield Maintenance?
Yield maintenance approximates the present value of the lender's foregone interest when you prepay, discounted at a reinvestment rate (often a Treasury curve proxy). If the note rate is at or below the reinvestment rate, the penalty is typically minimal or zero.
How is Cash-on-Cash Return computed?
CoC equals annual pre-tax cash flow divided by total equity invested. Annual cash flow is typically NOI minus annual debt service and any ongoing reserves; equity invested is purchase price plus costs minus loan proceeds.
When should I use Balloon vs. Refinance analysis?
Use Balloon to measure the maturity payoff under an existing amortization schedule. Use Refinance to compare old vs. new terms, quantify savings, and determine breakeven horizon after closing costs.
What is Break-Even Occupancy and why does it matter?
Break-even occupancy is the vacancy rate at which a property's NOI exactly equals its debt service — meaning it can no longer cover its loan payments. Lenders and borrowers use it to stress-test underwriting: a property with a 72% break-even occupancy has much more cushion than one at 91%, even if both show the same DSCR at stabilization.
How does the Loan Constant (K-Factor) relate to DSCR?
The loan constant is annual debt service ÷ loan amount. DSCR is NOI ÷ annual debt service. If you know the cap rate and the loan constant, you can quickly estimate DSCR: DSCR ≈ (Cap Rate × Value) ÷ (K × Loan). The K-factor matrix helps you see at a glance how rate and term changes affect required NOI coverage.
Why use an Equity Multiple alongside IRR?
IRR is time-sensitive — a 20% IRR on a 2-year hold is very different from a 20% IRR on a 10-year hold. The equity multiple captures total return regardless of timing: a 2.5x multiple means you got back $2.50 for every $1.00 invested. Together, they describe both the speed and magnitude of a return, which is why investment memos always present both.
What is an interest reserve in a construction loan?
During construction, the property generates no income — but interest is still accruing on drawn funds. An interest reserve is a portion of the loan budget set aside to make interest payments during the construction and lease-up period, so the borrower doesn't need to fund those payments out of pocket. Lenders typically require it to be sized for the full draw period plus a stabilization buffer.