Free tools
Free real estate syndication calculators
Check a waterfall, a preferred return, a deal's IRR, a property's NOI and cap rate, loan coverage or break-even occupancy on your own numbers. No sign-up. Every result is illustrative, not investment advice.
Updated
Waterfalls and investor returns
How cash splits between LPs and the GP, and what the equity earns.
Real estate waterfall calculator
Return of capital, compounding pref, GP catch-up and two promote tiers — LP and GP splits instantly.
Waterfall model in Excel (free download)
A three-tier IRR-hurdle waterfall with live formulas — pref, two promote tiers, LP and GP IRR by year. No sign-up.
Preferred return calculator
Simple vs compounding, cumulative vs non-cumulative, with yearly distributions — pref accrued, paid and still owed.
IRR and equity multiple calculator
Enter equity, yearly cash flows and sale proceeds — get IRR, equity multiple, cash-on-cash by year and average annual return.
Cash-on-cash return calculator
Annual pre-tax cash flow over total cash invested — the yield on your equity, with monthly cash flow.
Property income and debt
What the building earns, what it is worth and how much loan it carries.
NOI calculator
From gross potential rent, vacancy, other income and operating expenses: effective gross income, NOI and the expense ratio.
Cap rate calculator
Enter any two of NOI, value and cap rate to get the third, with the value at nearby cap rates.
DSCR and loan sizing calculator
From NOI, loan amount, rate and amortization: debt service, DSCR, debt yield and the maximum loan at your minimum DSCR.
Break-even occupancy calculator
Operating expenses plus debt service over gross potential income — and the cushion against today’s occupancy.
Gross rent multiplier (GRM) calculator
Price over gross annual rent, or the price a GRM implies — a quick screen before you underwrite NOI.
The calculators use simplified annual periods. CREAssets runs real waterfalls on dated cash flows under your operating agreement's terms — see waterfalls and distributions or read how real estate waterfalls work.
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