Property pro formas that connect rent, debt, capex, and returns
Development and rental pro forma templates for property underwriting. Connect rent, debt, capex, and investor returns in one Excel model.
Used by professionals from
Financial Models for Real Estate Deal Teams
Select and download any template to begin customizing your projections.
Development Pro Forma
Real estate development underwriting model with lot acquisition, construction, presales, and cash flow timing.
Real Estate Fund Investment Model
Real estate fund cash flows, investment deployment, distribution schedules, and LP net IRR for fund-level analysis.
Real Estate Development Pro Forma Model
Land cost, construction budget, lease assumptions, and project IRR for commercial and residential development.
Capex Planning
12-month capex portfolio plan with NPV economics, budget envelope tracking, and traffic-light approval status.
Free real estate pro forma and underwriting templates
Property pro formas that connect rent, debt, capex, and returns. Generic finance templates are not specific enough for real estate - these models tie operating cash flow to exit value so you can underwrite deals faster.
Every free download is a fully editable .xlsx model with live formulas, built to the same visual standard and compatible with Microsoft Excel, Google Sheets, and Apple Numbers.
Start from a development pro forma, acquisition model, rental property model, real estate fund model, debt-service-coverage model, capex plan, rent roll, or waterfall returns model and run the deal from rent roll to exit value.
Calculate your time savings
See how many hours your team can reclaim by using pre-made templates and automating Excel. Time spent actually closing deals rather than troubleshooting your model.
How many employees are using Excel every week?
Based on 5 hours/week in Excel, 30 min/day saved, and $100/hour rate.
Frequently asked questions
Are the real estate models suitable for commercial properties?+
Yes. The pro formas are designed to adapt to multifamily, industrial, mixed-use, or office properties, with customizable rent rolls, occupancy schedules, and expense ratios.
Can I model development capex and draw schedules?+
Yes. Our development pro forma templates include construction draw timelines, interest capitalization during construction, and equity/debt funding gates.
How are the investor equity waterfalls calculated?+
The sheets support standard real estate GP/LP syndication waterfalls, including preferred return hurdles, IRR-based promote tiers, and cash-on-cash distribution splits.
Can I import rent roll details into the model?+
Yes. The templates contain structured input zones for unit types, square footage, contract rents, and concessions, allowing you to feed property data directly into your NOI projections.
Have more financial modelling questions? Contact us
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
