The Complete Real Estate Excel Model with Dashboard 📊
One file. 11 tabs. 440 formulas. One verdict cell that tells you proceed, diligence, or pass in under 10 minutes per deal. Now with construction/reform-project support and the estimated-sale-price KPI
Hey everybody, welcome back to PropAnalyst.
Last week we shipped the underwriting loop. This week we ship the model.
A friend in Madrid messaged me last month saying he had rebuilt his residential cashflow spreadsheet for the seventh time in two years. Seventh time. Every time a new deal came in with a different debt structure, a different opex shape, a different exit assumption, he started over. He lost the weekend on Excel instead of viewings.
Most investors think the bottleneck in underwriting is the formulas. Wrong.
The bottleneck is the dashboard. The one cell that turns 368 calculations into a yes or a no. Without that cell, every new deal is a new model. With that cell, every new deal is the same file with different inputs.
This post is that file. A full residential underwriting model, built from scratch, that takes price, rent roll, debt terms, opex, and exit assumptions, and returns a one-line verdict: PROCEED TO DILIGENCE, DILIGENCE REQUIRED, or PASS. It runs every residential deal the same way. You change three cells and the entire model re-computes. We used it on the Valencia deal from Post 1, and you will see it in action on that same deal at the end of this post.
By the end of this post, you will have the full residential underwriting model (11 tabs, 440 formulas, IRR + MOIC + DSCR + estimated sale price + sensitivity + dashboard + construction/reform-project support) wired to your own numbers, outputting a proceed / diligence / pass verdict in under 10 minutes per deal.
Here is what is inside.
Table of contents
Why the verdict cell, not the IRR, is what makes a model usable
The 10-tab architecture (dashboard first, dependencies later)
INPUTS: the 23 blue cells that drive the entire model
RENT ROLL: how three units become a defensible gross rent number
PRO FORMA: the 10-year operating horizon (and the line item 80% of investors forget)
DEBT: the amortization schedule and the DSCR pair that kills most deals
CASHFLOW, RETURNS: IRR, MOIC, cash-on-cash, the 4 numbers the dashboard pulls
SENSITIVITY: exit cap shock + rent haircut, the two knobs that matter most
DASHBOARD: the verdict cell, the 9 KPI cards, the decision thresholds
Worked example: the Valencia deal from Post 1 run through this exact file
Bonus: the 10-minute dashboard-only review routine and how to customize the model for Madrid, Lisbon, Mexico City, or any other target city
👀 Before we get into it, a quick heads up: we raise the subscription price every 100 new subscribers.
If you have been thinking about upgrading to premium, now is the moment. Current subscribers lock in today’s rate forever.
After the next 100 subscribers, new subscribers will pay significantly more. No tricks, just a real counter.
The reason? We are working on 100xing the value of this publication. You are going to love what is coming next 🔥
Inside you get:
→ Full Excel investment models (cashflow, ROI, IRR, cap rate, DSCR, sensitivity)
→ Verified prompt libraries for deal analysis, tenant screening, due diligence
→ Country-by-country real estate data source index (refreshed monthly)
→ Every future playbook in this series
💭 Remember!
As a premium subscriber you also get access to every other playbook in this series, such as:
1️⃣ The AI Property Analysis Playbook for Claude
2️⃣ (you are here)
3️⃣ 15 Verified Prompts to Analyze An
y Real Estate Deal (coming next)
4️⃣ The Best Claude Connectors for Real Estate Investing (coming soon)
5️⃣ The 72-Hour AI Due Diligence Checklist (coming soon)
6️⃣ The 3,000+ Institutional Real Estate Investor Database (coming soon)
7️⃣ The Tenant Screening Playbook: Master Prompt + Legal Checklist (coming soon)
8️⃣ Real Estate Data Sources by Country — Spain (coming soon)
9️⃣ ROI Calculation Mistakes 80% of Investors Make (coming soon)
🔟 The Institutional Hotel Underwriting & LP Waterfall Model (coming soon)
🗣 Or you can always invite a friend and unlock rewards along the way:
→ 3 friends = 1 month free
→ 5 friends = 3 months free
→ 25 friends = 6 months free
Early investors and operators are already inside.
🚀 Let’s begin!
