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Multifamily Pro Forma Template

Multi-Family USA · Printable checklist

Template structure

Separate tabs for in-place operations and stabilized operations.
NOI normalization support for one-time and recurring adjustments.
Debt-sizing outputs for DSCR, debt yield, and leverage constraints.
Sensitivity grids for occupancy, rent growth, and expense pressure.
Refinance and disposition scenario checks across hold-period assumptions.

Modeling standards

Tie every major line item to T12, rent roll, market evidence, or operating plans.
Document assumption sources for lender review.
Keep audit-ready backup tabs alongside presentation outputs.

Common mistakes to avoid

Overstating rent growth without submarket-specific support.
Underestimating insurance, taxes, payroll, and replacement reserves.
Sizing debt from one metric instead of multiple lender constraints.
Ignoring extension and refinance assumptions on transitional deals.

Implementation workflow

Import T12 and rent-roll data; complete NOI normalization first.
Set base case assumptions and run debt sizing across lender constraints.
Build downside scenarios and identify breakpoints before quote requests.
Package outputs for lender discussions with clear assumption commentary.