Buy, Rehab, Rent, Refinance, Repeat. Market rent graded, cash flow by scenario, refinance math, DSCR, and break-even occupancy, with gates, evidence lineage, and a receipt.
Not an appraisal. Not legal, tax, or lending advice. Public-data underwriting only. Verify rent, ARV, repairs, title, and loan terms with the county, a licensed professional, and the lender before closing. No offer without Jeramie. Offer authorized is false on every run unless a human approval record is attached.
00Try it in 60 seconds
Three steps. No sign-up, no data leaves your browser.
Step 1: Load Sample A with the button below.
Step 2: Change Market rent in section 02, or ARV in section 03.
Step 3: Watch cash flow, refinance cash left in deal, DSCR, and break-even occupancy move in sections 06, 07, and 09 and in the sticky panel at the top.
Base cash flow / moN/A
Cash left in dealN/A
DSCR (base)N/A
RecommendationHOLD
Completeness 0 percent
Figure 1. The BRRRR sequence this engine underwrites. Each step needs its own evidence. A missing ARV or repair scope breaks step 4, and the kill condition in section 13 fires.
01Subject property
Address / parcel gate. Confirm the address and parcel from at least 2 public sources before any number is used. Unverified means HOLD.
02Market rent, graded
Grade A is a signed lease in hand. B is a listed rent with a verifiable listing. C is a market rent estimate from a named source. D is a seller claim only, labelled lease proxy, never used as proven income. Market rent, lease-proxy rent, and proven rent are three separate numbers.
Rent comp address
Rent ($/mo)
Grade
Source reference
Date
Usable rent comp = address + rent + grade + source + date. Minimum 2 usable rent comps for a GO. 3 preferred. A D-grade comp is a seller claim, not evidence of market rent.
03Purchase, rehab, and all-in cash
ARV and repair scope are the two numbers the kill condition protects. If either is N/A, cash left in deal is N/A and the run is PASS. See section 13.
Fixed monthly costs are entered as dollars. Maintenance, capital expenditure, and management are entered as a percent of gross scheduled rent. Blank percent fields count as 0 in the math and are listed as missing data.
Operating expenses, monthly = Taxes + Insurance + HOA + Utilities + Other + Gross rent x (Maintenance % + CapEx % + Management %) / 100 NOI, monthly = Effective gross income - Operating expenses. Debt service is not an operating expense.
Fixed monthly expensesN/A
Variable monthly expenses, base rentN/A
Total operating expenses, monthly (base)N/A
05Refinance math
Refinance loan is ARV times LTV. Net refinance proceeds pay off the initial loan and refinance closing costs. Cash left in deal is total cash invested minus net refinance proceeds.
Refinance loan = ARV x LTV % Monthly payment = P x r x (1+r)^n / ((1+r)^n - 1), where r = annual rate / 12 and n = term in years x 12. If rate is 0, payment = P / n. Net refinance proceeds = Refinance loan - Initial loan payoff - Refinance closing costs Cash left in deal = Total cash invested - Net refinance proceeds
Refinance loan (ARV x LTV)N/A
Refinance payment ($/mo)N/A
Net refinance proceedsN/A
Cash left in dealN/A
Cash left meaningEnter ARV, purchase price, and repairs base.
Warning: cash left in deal cannot be computed because ARV or repair scope is N/A. This is the E3 kill condition. See section 13.
06Cash flow by scenario
Base uses the entered market rent and vacancy. Optimistic uses rent plus 5 percent and vacancy halved. Pessimistic uses rent minus 10 percent and vacancy plus 10 points, capped at 50 percent. All three use the same operating expenses and the same refinance payment.
Figure 2. Cash flow waterfall, base scenario, monthly. The same waterfall runs for the optimistic and pessimistic scenarios in the table below, with only rent and vacancy changed.
Scenario
Rent ($/mo)
Vacancy
Effective gross income ($/mo)
Operating expenses ($/mo)
NOI ($/mo)
Debt service ($/mo)
Cash flow ($/mo)
Cash flow ($/yr)
Optimistic
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Base
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Pessimistic
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Effective gross income, monthly = Rent x (1 - Vacancy / 100) Cash flow, monthly = NOI - Refinance payment. Annual cash flow = Monthly cash flow x 12.
07DSCR, break-even occupancy, and returns
DSCR and break-even occupancy use base-scenario NOI and the refinance payment. If the refinance payment is N/A, DSCR and break-even occupancy are N/A.
DSCR = Annual NOI (base) / Annual debt service (refinance payment x 12) Break-even occupancy = (Annual operating expenses + Annual debt service) / Gross scheduled annual rent Cap rate = Annual NOI (base) / All-in cost Cash-on-cash return = Annual cash flow (base) / Cash left in deal, only when cash left in deal is greater than 0. If cash left is 0 or negative, cash-on-cash is N/A because the capital is already out.
Annual NOI, baseN/A
Annual debt service, refinanceN/A
DSCR, baseN/A
Break-even occupancyN/A
Cap rate, on all-in costN/A
Cash-on-cash return, baseN/A
Rent to all-in cost, monthlyN/A
DSCR below 1.00 means base NOI does not cover debt service. Break-even occupancy above 100 percent means the property cannot break even even fully occupied at market rent.
08Gates, fail closed
Any gate at fail or hold shows HOLD. Do not round a hold up to a pass. Gates start at Hold until verified.
Gate statusHOLD - gates not verified
Gates passedNone
Gates failed or heldAll
09Results
Completeness counts the required fields in this run. A complete run can still be HOLD or PASS. Completeness is not a recommendation.
0% complete.
Market rent, gradedN/A
Base cash flow, monthlyN/A
Base cash flow, annualN/A
Refinance loanN/A
Cash left in dealN/A
DSCR, baseN/A
Break-even occupancyN/A
RecommendationHOLD
10One-page summary, print this
The deal on one page. Print this section for the file copy. It updates live from the inputs above. It is a summary of the receipt, not an offer.
AddressN/A
Parcel IDN/A
Market rent (grade)N/A
ARVN/A
All-in costN/A
Refinance loanN/A
Cash left in dealN/A
Base cash flow / moN/A
DSCRN/A
Break-even occupancyN/A
Confidence0.50
GatesHOLD
RecommendationHOLD
Not an appraisal. Public-data underwriting only. No offer without Jeramie. Offer authorized: false.
11Receipt
Generated from the inputs above. Offer authorized is always false in this tool. The receipt is evidence, not an offer.
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12How it works / What this is not
Read this before relying on any number on this page.
How it works: confirm the address and parcel from at least 2 public sources, grade the market rent with rent comps and a named source, enter purchase price, ARV, and a repair scope, enter operating expenses, then enter refinance LTV, rate, and term. The tool computes effective gross income, NOI, cash flow in three scenarios, refinance loan and payment, cash left in deal, DSCR, break-even occupancy, cap rate, and cash-on-cash return from the exact formulas shown. Gates fail closed. A kill means PASS. The receipt records what was entered, what passed, and what was N/A. A share link encodes the whole deal in the URL hash so someone else can open the same numbers in their own browser. Nothing is uploaded.
What this is not: not an appraisal, not a survey, not legal, tax, or lending advice, and not a guarantee of rent, ARV, repairs, refinance terms, or a sale. It does not invent rents, comps, ARV, or loan terms. If a field cannot be verified, it stays N/A. A lender will underwrite DSCR, LTV, and reserves on its own terms, and those terms can differ from the ones entered here. No offer is quoted without Jeramie.
It does not verify ARV. ARV entered here is a claim until supported by sold comps in the Residential engine or an appraisal.
It does not verify rent. A C-grade market estimate and a D-grade seller claim are not proven income. Only a signed lease is proven rent.
It does not price title, insurance, tax, or legal risk. A title defect, a tax lien, or a floodplain flag needs the E8 Distressed Title engine and a licensed professional.
It does not model taxes, depreciation, or after-tax return. Cash flow here is pre-tax.
It does not model rent growth, expense inflation, interest rate changes after refinance, or vacancy beyond the three fixed scenarios.
It assumes the refinance loan is a fully amortizing fixed-rate loan with the entered rate and term. It does not model adjustable rates, interest-only periods, balloon payments, points, or lender reserves.
It assumes the initial loan payoff equals the entered initial loan balance. If the payoff includes prepayment penalties, accrued interest, or a second lien, enter the full payoff in that field or the cash left number will be wrong.
It does not check local short-term rental rules, HOA rental caps, rent control, or eviction law. A property that cannot legally be rented at the stated rent is HOLD, not a low price.
Layout was not eyeballed in a real browser. Math was tested in jsdom with hand-computed values. See the test note in the final build report.
E13E13 Risk / Kill-Switch
Every engine ends here. A kill is a successful run, not a failed one. Recommendation on a kill is PASS. Do not soften it.
E3 kill condition firedNo
Kill reasonNone
Risk flags firedNone
RecommendationHOLD
Kill conditions (E3 contract):
Cash left in deal cannot be computed because ARV is N/A.
Cash left in deal cannot be computed because repair scope is N/A (repairs base is blank).
Cash left in deal cannot be computed because purchase price is N/A (the same uncomputable-cash-left kill, stated for completeness).
Risk flags (not kills by themselves): DSCR below 1.00 on base NOI, negative base cash flow, break-even occupancy above 90 percent, break-even occupancy above 100 percent, rent grade D, fewer than 2 usable rent comps, pessimistic cash flow negative while base is positive, cash left in deal above 50 percent of all-in cost, or any checked flag below.