Penaki

From source files to a priced model and live Excel workbook.

Turn the rent roll, T-12 and offering memo into a complete multifamily model. Solve for your target IRR price and export to Excel with working formulas.

Cash flow

7-year hold

Levered IRR

15.0%

Equity multiple

1.9x

Avg cash yield

6.4%

Y1
Y2
Y3
Y4
Y5
Y6
Y7
Net cash flow after debt serviceExit in year 7

Set your target return. Get your offer price.

Enter your target IRR to solve for the highest purchase price that clears it, or type a price manually and stress-test sensitivities.

  • Two-way link between purchase price and levered IRR
  • Loans resize to LTV and DSCR at every price
  • Sensitivity tables at ±2.5%, ±5% and ±10% steps
  • Automatic working capital reserve sizing
Target IRR15%

Highest price that still hits it

$25.0M

Loan resized to match

Price per unit$104,200
Going-in cap rate5.8%
Loan amount$15.1M
Equity required$10.6M

Senior, takeout and assumable debt.

Size loans to the lower of LTV and DSCR using live SOFR and US Treasury rates, and view full monthly or annual schedules.

  • Sized to the lower of LTV and DSCR
  • Originated, permanent takeout and assumable loans
  • Live SOFR and 5Y, 7Y and 10Y Treasury rates
  • Annual and monthly amortization tables

Loan sizing · Min of LTV / DSCR

Fixed or Floating

Max loan by LTV (65%)$16.3M
Max loan by DSCR (1.25x)Lower wins$15.1M

Final loan amount

$15.1M

Base index + spread5Y Treasury + 195 bps (6.25%)
Interest-only period24 months
Amortization30 years
Annual debt service$1.12M

Operations, cash flow and LP/GP waterfall.

All inputs flow into property operations, T-12 vs. forecast cash flows and a four-tier equity promote waterfall across 5-, 7- or 10-year holds.

  • Executive summary with key returns and sources & uses
  • Six structured input tabs pre-filled from your files
  • Nine output tabs with annual and monthly views
  • Four-tier IRR waterfall with monthly compounding

Equity waterfall

4 tiers

Investor

14.0% IRR

1.8x multiple · $9.5M in

Sponsor

22.0% IRR

2.5x multiple · $1.1M in

Tier 1Up to 8%
90/10
Tier 28% to 10%
80/20
Tier 310% to 12%
70/30
Tier 4Above 12%
50/50
Investor / sponsor split by hurdle

Included with every deal

  1. Pre-filled inputs

    Assumptions populate from your files with one-click refresh.

  2. Built-in rent comps

    Compare rents by bedroom count against comps imported from the OM.

  3. Renovation schedules

    Model unit turns, downtime and rent bumps by floor plan.

  4. Live Excel formulas

    Download a complete .xlsx workbook where every output is a real formula.