Input schema (JSON)
{
"type": "object",
"required": [
"price",
"gross_income",
"operating_expenses"
],
"properties": {
"capex": {
"type": "number",
"maximum": 5000000000,
"minimum": 0,
"description": "Repairs and capital work planned at purchase, US dollars. Default 0."
},
"price": {
"type": "number",
"maximum": 5000000000,
"minimum": 10000,
"description": "Purchase price in US dollars, e.g. 5000000."
},
"ltv_pct": {
"type": "number",
"default": 65,
"maximum": 95,
"minimum": 0,
"description": "Loan-to-value on the price, percent. Default 65."
},
"hold_years": {
"type": "integer",
"default": 5,
"maximum": 30,
"minimum": 1,
"description": "Hold period in years, 1 to 30. Default 5."
},
"vacancy_pct": {
"type": "number",
"default": 7,
"maximum": 95,
"minimum": 0,
"description": "Vacancy and credit loss, percent of gross. Default 7."
},
"exit_cap_pct": {
"type": "number",
"default": 6.75,
"maximum": 25,
"minimum": 1,
"description": "Exit cap rate, percent. Default 6.75."
},
"gross_income": {
"type": "number",
"maximum": 5000000000,
"minimum": 1,
"description": "Gross potential rent and other income, annual, US dollars."
},
"closing_costs": {
"type": "number",
"maximum": 5000000000,
"minimum": 0,
"description": "Other closing costs (legal, title, lender fees, reports), US dollars. Default 0."
},
"sale_cost_pct": {
"type": "number",
"default": 2,
"maximum": 15,
"minimum": 0,
"description": "Sale costs at exit, percent of sale price. Default 2."
},
"noi_growth_pct": {
"type": "number",
"default": 3,
"maximum": 20,
"minimum": -20,
"description": "NOI growth per year, percent. Default 3."
},
"target_irr_pct": {
"type": "number",
"default": 12,
"maximum": 50,
"minimum": 1,
"description": "Target levered IRR for the max-price answer, percent. Default 12."
},
"interest_rate_pct": {
"type": "number",
"maximum": 25,
"minimum": 0.1,
"description": "Loan interest rate, percent. Default: latest 10-year Treasury + 2.04."
},
"amortization_years": {
"type": "integer",
"default": 25,
"maximum": 40,
"minimum": 0,
"description": "Amortization in years; 0 = interest only. Default 25."
},
"operating_expenses": {
"type": "number",
"maximum": 5000000000,
"minimum": 0,
"description": "Operating expenses including taxes and insurance, annual, US dollars."
},
"transfer_tax_where": {
"enum": [
"none",
"nyc",
"nys",
"fl",
"miami-dade",
"la"
],
"type": "string",
"default": "none",
"description": "Where the deed records, for the transfer tax estimate: nyc, nys (outside NYC), fl (outside Miami-Dade), miami-dade, la (City of Los Angeles) or none."
},
"buyer_pays_transfer_tax": {
"type": "boolean",
"default": false,
"description": "True if the buyer pays the transfer tax, which then adds to the cost basis."
}
},
"additionalProperties": false
}