The decision layer for real‑estate investing

Property data, underwriting that shows its work, and investment-grade output. Start from an address, end with a decision.

Real deal, name withheld346-unit garden community · built 1980

17.4%

Levered IRR, 9-year hold

PursueClears the 15.0% hurdle by 2.4 pts.

Price$36.58M

Equity multiple3.61x

Going-in cap5.81%

Exit cap6.50%

How that verdict usually gets made

Mon 09:12Rent comps pasted from a broker PDF into tab Comps (2)source unknown
Mon 09:40T-12 retyped from the offering memosource unknown
Tue 11:03Exit cap changed from 5.50% to 5.75% in v11changed by unknown
Thu 14:27Underwriting_v14_final_FINAL.xlsx sent to committee3 versions in circulation
Day 9Committee asks where the $1,117 rent came fromno answer on file
Day 14Decision madetwo weeks

Every number traces back to its source, so you're never left guessing.

Return
Levered IRR17.4%= IRR of equity in, cash flow, sale
Equity multiple3.61x= (cash flow + sale) ÷ equity
Cash flows
Equity in$7,921,139source 4source 5= price + costs − loan
Cash flow, years 1 to 9$5,510,741= Σ NOI − debt service − capex
Sale, net of loan$23,050,761= forward NOI ÷ exit cap − costs − loan
Operations
NOI, year 1$2,124,656= rent × units × (1 − vacancy) − opex
Debt service, year 1$1,488,515source 4
Capex and reserves, year 1$86,500source 6
Exit cap6.50%source 6
Inputs
Rent$1,117 × 346source 1source 2
Vacancy, loss, concessions10.05%source 1
Rent growth2.5%/yrsource 2source 6
Opex$6,869/unitsource 3source 5
Sources
1Rent roll, as of 2025-04-02Rent roll2Rent comps, 6 peer propertiesRent comps3T-12 financials, through Jan 2025T-124Loan quote, 79% LTV, 21 mo IOLoan quote5Purchase price, taxes reassessed at 90%Purchase price6Underwriter assumptionAssumption

Change a parameter like the exit cap, and SeerStone recomputes your underwrite in realtime.

Exit cap rate6.50%

Sale price$49.20M

Sale proceeds$23.05M

Levered IRR17.4%

Equity multiple3.61x

NOI, year 1$2,124,656

Debt service, year 1$1,488,515

Equity in$7.92M

Highlighted values depend on exit cap. The rest are unchanged.

PursueClears the 15.0% hurdle by 2.4 pts.

Market dataNeighborhood, tenants and amenities around the address, with demographics, housing metrics and walk scores on the same page.
UnderwritingThe operating model from rent pricing, other income, payroll and growth, tested against IRR sensitivities.
ExportsA market analysis leaves as a PDF report, or as a CSV of the values behind it that opens in Excel and Sheets.
AI assistantOver the Model Context Protocol, Claude, ChatGPT, Cursor or VS Code read your properties, deals and market data as you.
OrganizationsEvery query is scoped to your organization, so one team's deals are never visible to another.