Rental property underwriting · 2 free deals / day
How to underwrite a rental property
in 30 seconds.
Paste price, rent, and financing. Get cap rate, cash-on-cash, DSCR, NOI, and an underwriter's verdict — computed server-side, defensible to any lender. Free. No signup.
No signup · No credit card · Pro is $15/mo, cancel anytime
- 30s
- To a full underwrite
- 12+
- Metrics per deal
- 0
- Signup steps
- $15
- Pro, per month
A real underwrite
$300k duplex, 25% down, 7% rate.
$2,400/mo rent · $3,600/yr tax · $1,400/yr insurance
"This one pencils." DSCR at 1.35 clears most agency guidelines with room to breathe, and an 11.4% cash-on-cash beats the S&P long-run average. Two risks: your insurance quote is 15% below regional average, and the 42% expense ratio assumes no capex reserve — add $150/mo for a real 10-year hold.
How it works
How to underwrite a rental property in three steps.
No spreadsheet. No wizard. No signup. Three steps to a lender-ready verdict.
- 01
Enter the deal
Price, rent, down payment, rate, taxes, insurance, HOA. Sensible defaults for vacancy, maintenance, and management — override anything.
- 02
Compute every metric
Cap rate, cash-on-cash, DSCR, cash flow, NOI, expense ratio, GRM, 1% rule — computed in code, not guessed by an AI.
- 03
Read the verdict
A conservative underwriter's take with strengths, risks, and next steps. Save it, share the link, or export the lender PDF.
Why investors switch
Spreadsheets are slow. Guessing is expensive.
| Napkin | Excel | DealUnderwriter | |
|---|---|---|---|
| Time per deal | 5 min, gut check | 30–45 min | 30 seconds |
| DSCR & CoC computed | ✗ | ✓ | ✓ |
| AI verdict with risks | ✗ | ✗ | ✓ |
| Saved pipeline & compare | ✗ | Manual | ✓ |
| Lender-ready PDF | ✗ | Hours to design | One click |
| Shareable link | ✗ | ✗ | ✓ |
| Typo risk | High | High | Zero |
Built for operators
Everything a real underwriter checks. Nothing they don't.
Save your pipeline, model refi and BRRRR scenarios, stress-test assumptions, and hand a lender a memo that answers before they ask.
Deterministic math
Cap rate, CoC, DSCR, and expense ratio computed server-side — no AI drift on the numbers.
AI verdict, not hype
A conservative underwriter's take: strengths, risks, and next steps in plain English.
Saved pipelines
Pro keeps every deal organized. Add notes, revisit, compare — no more lost spreadsheets.
Investor-ready PDFs
Branded one-page memo for lenders and partners. Send a shareable link or export the PDF.
Trusted by operators
The tool investors keep open in a browser tab.
“I underwrite three to five rental properties a week. This turned a 40-minute spreadsheet job into a coffee break — and my lender actually reads the PDF.”
“The DSCR and cash-on-cash come out identical to the model I've built over six years. But now my analyst can screen a deal in a minute instead of an afternoon.”
“I share the link with my agent before we even tour. If the deal doesn't pencil, we don't drive.”
DealUnderwriter Pro
Unlimited deals. $15/mo.
Save your pipeline, model 30-year projections and BRRRR refi scenarios, export branded investor memos, and share deals with a live link. Cancel anytime.
- ✓Unlimited saved deals
- ✓30-year cashflow & IRR projection
- ✓Full amortization schedule
- ✓CSV export of projections
- ✓Branded investor PDF memos
- ✓Scenario compare & sensitivity
- ✓Shareable client links
- ✓Priority AI model
- ✓Cancel anytime
FAQ
Questions investors ask.
How do you underwrite a rental property?
You underwrite a rental property in five moves: price and financing in, gross rent and vacancy out, real operating expenses (tax, insurance, HOA, maintenance, capex, management) subtracted, debt service applied, then cap rate, cash-on-cash, and DSCR computed. DealUnderwriter does the whole sequence server-side in about 30 seconds and returns a verdict you can send to a lender — no spreadsheet, no signup.
Is the rental property calculator actually free?
Yes. Two full rental property underwrites a day, no signup, no credit card, no email. You get cap rate, cash-on-cash, DSCR, cash flow, NOI, expense ratio, GRM, and the AI verdict. Pro ($15/mo) removes the daily cap and unlocks saved pipelines, 30-year projections, sensitivity analysis, and branded investor PDFs.
Which numbers does DealUnderwriter compute?
Cap rate, cash-on-cash return, DSCR, monthly and annual cash flow, NOI, debt service, cash invested, expense ratio, gross rent multiplier, and the 1% rule. Every calc is deterministic and runs server-side from your inputs — the AI only writes the plain-English verdict on top. That's why the numbers are reproducible and defensible to a lender.
Is the AI making up cap rates or comps?
No. The math runs in code, not the model. The AI receives your already-computed metrics and writes a verdict with strengths, risks, and next steps — it never invents cap rates, rents, or DSCR. Built that way on purpose so investors can trust the output and lenders can trace every number.
How is this different from BiggerPockets' calculator or a spreadsheet?
Speed and defensibility. A spreadsheet takes ten minutes and one typo away from a wrong offer. BiggerPockets is a fine calculator but stops at the number — DealUnderwriter also gives you a plain-English verdict, a lender-ready PDF, and a saved pipeline so you can compare five deals side-by-side without re-typing anything.
Can I share a deal with a lender or JV partner?
Yes — Pro users get a live shareable link for every saved deal plus a branded one-page PDF memo. The memo lists every assumption, every computed metric, and the underwriter verdict — suitable for lenders, JV partners, and investment committee review.
What kinds of rental properties does it handle?
Single-family rentals, small multifamily (duplex, triplex, quad), and BRRRR-style value-add. Inputs cover purchase price, financing (rate, term, down payment, points), gross rent, vacancy, taxes, insurance, HOA, maintenance reserve, capex reserve, management fee, closing costs, and rehab budget.
Can I cancel Pro anytime?
Yes. One click cancels; you keep access until the end of the period. No calls, no retention offers.
Your next rental underwrite is one paste away.
Two free rental property underwrites a day. No signup. Upgrade the moment you need to save one.