Absorption: senior housing development demand, supply and math

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  "properties": {
    "land": {
      "type": "number",
      "default": 2500000,
      "maximum": 1000000000,
      "minimum": 0,
      "description": "Land cost, dollars."
    },
    "units": {
      "type": "integer",
      "default": 100,
      "maximum": 5000,
      "minimum": 20,
      "description": "Units or beds."
    },
    "nonprofit": {
      "type": "boolean",
      "default": false,
      "description": "Nonprofit borrower with an operating track record (higher loan-to-value limit)."
    },
    "cap_rate_pct": {
      "type": "number",
      "default": 8,
      "maximum": 20,
      "minimum": 3,
      "description": "Cap rate on stabilized NOI, % (your assumption)."
    },
    "building_type": {
      "enum": [
        "assisted_living",
        "skilled_nursing"
      ],
      "type": "string",
      "default": "assisted_living",
      "description": "Assisted living or memory care, or skilled nursing (sets the HUD loan-to-value limit)."
    },
    "soft_cost_pct": {
      "type": "number",
      "default": 18,
      "maximum": 60,
      "minimum": 0,
      "description": "Soft costs as % of hard cost."
    },
    "average_drawn_pct": {
      "type": "number",
      "default": 55,
      "maximum": 100,
      "minimum": 10,
      "description": "Average share of the loan drawn during construction, % (for interest carry)."
    },
    "hud_note_rate_pct": {
      "type": "number",
      "default": 6.25,
      "maximum": 15,
      "minimum": 1,
      "description": "HUD 232 note rate, %."
    },
    "hard_cost_per_unit": {
      "type": "number",
      "default": 250000,
      "maximum": 5000000,
      "minimum": 0,
      "description": "Hard cost per unit, dollars (your contractor's number; no public benchmark exists)."
    },
    "move_ins_per_month": {
      "type": "number",
      "default": 4,
      "maximum": 500,
      "minimum": 0.5,
      "description": "Net move-ins per month."
    },
    "construction_months": {
      "type": "integer",
      "default": 20,
      "maximum": 48,
      "minimum": 6,
      "description": "Construction period, months."
    },
    "occupied_at_opening": {
      "type": "number",
      "default": 15,
      "maximum": 5000,
      "minimum": 0,
      "description": "Occupied units at opening."
    },
    "fixed_cost_per_month": {
      "type": "number",
      "default": 260000,
      "maximum": 100000000,
      "minimum": 0,
      "description": "Fixed operating cost per month (staff, utilities, overhead carried from day one), dollars."
    },
    "construction_rate_pct": {
      "type": "number",
      "default": 6.5,
      "maximum": 15,
      "minimum": 1,
      "description": "Construction loan interest rate, %."
    },
    "monthly_revenue_per_unit": {
      "type": "number",
      "default": 7200,
      "maximum": 100000,
      "minimum": 0,
      "description": "Monthly revenue per occupied unit, dollars."
    },
    "stabilized_occupancy_pct": {
      "type": "number",
      "default": 92,
      "maximum": 100,
      "minimum": 50,
      "description": "Stabilized occupancy, %."
    },
    "variable_cost_per_unit_month": {
      "type": "number",
      "default": 2300,
      "maximum": 100000,
      "minimum": 0,
      "description": "Variable cost per occupied unit per month, dollars."
    }
  },
  "additionalProperties": false
}

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  "type": "object",
  "required": [
    "metric"
  ],
  "properties": {
    "limit": {
      "type": "integer",
      "default": 10,
      "maximum": 51,
      "minimum": 1,
      "description": "Rows to return, 1 to 51 (default 10)."
    },
    "order": {
      "enum": [
        "highest",
        "lowest"
      ],
      "type": "string",
      "description": "Highest first or lowest first. Default: lowest for the two bed ratios (thinnest supply first), highest for everything else."
    },
    "metric": {
      "enum": [
        "growth_75_plus",
        "growth_85_plus",
        "population_75_plus",
        "population_85_plus",
        "nursing_beds_per_1k_85_plus",
        "assisted_living_beds_per_1k_75_plus",
        "hud_232_construction_loans"
      ],
      "type": "string",
      "description": "Measure to rank by."
    },
    "offset": {
      "type": "integer",
      "default": 0,
      "maximum": 50,
      "minimum": 0,
      "description": "Skip this many rows, for paging."
    }
  },
  "additionalProperties": false
}

{
  "type": "object",
  "required": [
    "state"
  ],
  "properties": {
    "limit": {
      "type": "integer",
      "default": 10,
      "maximum": 50,
      "minimum": 0,
      "description": "Counties to return, 0 to 50 (default 10)."
    },
    "state": {
      "type": "string",
      "pattern": "^[A-Za-z .]{2,30}$",
      "maxLength": 30,
      "minLength": 2,
      "description": "Two-letter state code or full name, e.g. \"FL\" or \"Florida\". DC is included."
    },
    "county": {
      "type": "string",
      "maxLength": 60,
      "minLength": 2,
      "description": "Optional: one county to return, e.g. \"Maricopa\" or \"Maricopa County\". Not available for Connecticut."
    },
    "offset": {
      "type": "integer",
      "default": 0,
      "maximum": 300,
      "minimum": 0,
      "description": "Skip this many counties, for paging."
    },
    "county_sort": {
      "enum": [
        "largest",
        "fastest_growth",
        "fewest_beds"
      ],
      "type": "string",
      "default": "largest",
      "description": "County list order: largest 75+ population; fastest 75+ growth (counties with 2,000+ aged 75+); fewest nursing beds per 1,000 aged 85+ (counties with 1,000+ aged 85+)."
    }
  },
  "additionalProperties": false
}