Underwrite from your models and deal room

Caelon maps out all deal room inputs and assumptions with your Excel model to view on a dashboard and in your Excel model.

CaelonCaelon
Multifamily Acquisition Model
SYNTHETIC SAMPLE
Levered IRR
14.1%5-yr hold
Equity Multiple
1.89xMOIC
Avg Cash-on-Cash
3.20%avg
Unlevered IRR
9.3%asset
Going-in Cap Rate
5.40%Yr 1
Exit Cap Rate
5.25%-15 bps
Operating Pro Forma
$5.03M$3.77M$2.52M$1.26M$0K
Yr 1Yr 2Yr 3Yr 4Yr 5Yr 6
$ / yearYr 1Yr 2Yr 3Yr 4Yr 5Yr 6
Gross Potential Rent3,996,0004,135,8604,280,6154,430,4374,585,5024,745,994
Other Income205,200211,356217,697224,228230,954237,883
Vacancy & Credit Loss(252,072)(260,833)(269,899)(279,280)(288,987)(299,033)
Effective Gross Income3,949,1284,086,3834,228,4134,375,3844,527,4694,684,845
Operating Expenses(1,656,000)(1,697,400)(1,739,835)(1,783,331)(1,827,914)(1,873,612)
Net Operating Income2,293,1282,388,9832,488,5782,592,0532,699,5552,811,233
Cap Rate on Cost5.40%5.62%5.86%6.10%6.35%6.61%
Levered Cash Flows
−$15.51M
$297K
$393K
$492K
$596K
$27.54M
Yr 0Yr 1Yr 2Yr 3Yr 4Yr 5
bar heights √-scaled · debt service $1,996,201 / yr
Assumptionslive · edits recompute all outputs
Property & Operating
Units
Avg Monthly Rent / Unit
Other Income / Unit / Mo
Vacancy & Credit Loss
OpEx / Unit / Yr
Rent Growth
Other Income Growth
Expense Growth
Purchase Price
Acquisition Costs (% price)
Financing & Exit
Loan-to-Value (LTV)
Interest Rate
Amortization (years)
Hold Period (years)
Exit Cap Rate
Selling Costs (% value)

Synthetic model data and open source underwriting model. Your underwriting models are proprietary and will never be shared.

From deal room to fully underwritten in three steps.

01

Upload your materials to the deal room.

Drop in the OM, rent roll, T-12, and leases — every document lands in one organized deal room.

PDFOM_Maple_Court.pdf
RRRent_Roll_2025.xlsx
Drop into deal room…
T12T12_Statement.xlsx
02

Import your underwriting model.

Caelon turns your deal room documents into the exact inputs your model expects.

Underwriting models
XLSMaple_Court_UW.xlsxImporting…
XLS
Returns ModelIRR, equity multiple, cash-on-cash, levered/unlevered
XLS
DCF ModelProjected NOI and cash flows discounted to PV
XLS
Rent Roll ModelUnit rents, occupancy, expirations, market vs. in-place
XLS
Sensitivity ModelExit cap, rent growth, purchase price, leverage
Models linked0/4
03

View your underwritten dashboard.

Every deal fully underwritten — view in a dashboard or in your mapped-out Excel model.

CaelonUnderwriting
Underwriting…
10-YR HOLD · BASE CASE
Levered IRR
18.4%+40bps
Equity multiple
2.08x+0.06x
Avg DSCR
1.42xBase
Cash flowannual · $M
Year 7
NOI3.6M
Debt service2.1M
Net cash flow1.5M

Step 1 of 2 — Tell us about yourself

Get a Custom Underwriting Demo

See how Caelon works with your deal room and underwriting models, built around your workflow.

  • See it on your model / template model. Learn how Caelon maps deal room data and assumptions directly into your existing Excel models.
  • Walk through your workflow. See how OMs, rent rolls, T-12s, leases, and other materials move from deal room to underwriting.
  • Explore the full output. Review assumptions, returns, cash flows, and source data across your dashboard and Excel model.

You can also email us at zach@caelonhq.com

FAQ

Frequently asked questions

Questions about underwriting and model reconciliation?

Talk to our team

You upload or connect your existing model. Caelon maps assumptions to source documents in the deal room and flags where inputs, terms, or outputs don't reconcile.

No. Your underwriting models and deal room contents are proprietary to your organization and are never shared with other customers or used to train shared models.

CIMs, QoE reports, rent rolls, loan documents, appraisals, contracts, GL exports, and other diligence files. Caelon indexes them on upload so they are queryable against your model.

Caelon checks revenue assumptions, cost inputs, debt terms, and structural items against the supporting documents, with source-level citations back to the page or cell that supports or contradicts each line.

Yes. Most teams start with the spreadsheets they already use. Caelon reads the model structure and ties each material assumption back to diligence evidence.

Material mismatches are ranked by severity and linked to the underlying source. Your team reviews exceptions with citations instead of re-reading the full data room.

Yes. Each engagement runs in an isolated environment. Your models, documents, and outputs stay within your account boundary.

We can run a walkthrough on a redacted deal room and model so you can see reconciliation quality on your workflow before signing anything.