Transparent underwriting
How the calculator turns property assumptions into cash flow, debt coverage, returns, and strategy comparisons.
Short version
DealCooker is a pre-tax real estate underwriting model. It connects acquisition cash, financing, strategy-specific income and expenses, reserves, debt service, refinance events, and sale assumptions into one traceable projection.
Modeled property income after vacancy and operating costs, before debt service. Depending on the strategy, DealCooker’s modeled NOI may include reserves and fixed costs such as PMI, so it may differ from lender or accounting NOI.
Modeled monthly NOI minus required monthly debt service. DealCooker may also show a view before selected reserves for transparency.
Annual modeled NOI divided by the basis used for that strategy. Most acquisition views use purchase price; BRRRR uses ARV. Because modeled NOI can include financing-dependent fixed costs, treat this as a DealCooker metric—not a universal unlevered cap rate or appraisal.
Modeled NOI divided by modeled debt service. A ratio above 1 means NOI exceeds debt service, but lender definitions and thresholds vary.
Annual pre-tax cash flow divided by modeled cash invested. It is sensitive to leverage and does not replace a full hold-period analysis.
ROI measures total modeled gain relative to invested cash. IRR annualizes the timing of initial cash, operations, refinance events, additional contributions, and exit proceeds.
Engine-backed pages
Every strategy page is regenerated from DealCooker’s calculation engine during the site build. The displayed examples are illustrative scenarios, not hand-entered promises or property recommendations.
Model boundaries
No. It projects user-entered assumptions. It does not guarantee rent, occupancy, financing, appraisal, costs, refinance terms, sale value, or returns.
No. Results are pre-tax estimates. Tax treatment varies by property, activity, ownership, jurisdiction, and taxpayer; use a qualified tax professional.
No. DealCooker is not an appraisal, broker price opinion, credit decision, loan quote, or commitment to lend.
Confirm the rent roll, leases, market rents, expenses, insurance, taxes, title, zoning, permits, inspections, contractor bids, financing, and exit assumptions independently.
Primary references
These authoritative sources support general definitions and verification guidance. DealCooker’s actual outputs are produced by its own tested engine. Sources checked 2026-07-24.
Use transparent assumptions
Educational analysis only. Verify assumptions independently.
