A day-by-day record of what landed in Underwrite, kept by hand.
Want to verify? The six files the decision depends on are rendered from the live source at /methodology/engine.
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Market leasing assumptions can blend a renewal with a new lease, and downtime can be counted by month. Commercial and mixed-use deals can credit expense recoveries. All of these stay off unless a deal turns them on. The canonical figures do not move: NOI $594,066.40, 15.34% IRR, 2.4351x.
On a rent roll, each expiry can be a renewal probability times a renewal (no downtime, renewal TI/LC, renewal free rent, and renewal rent as a percent of market) plus the rest as a new lease at the tenant's downtime, free rent and TI/LC. The deal carries a default, and a tenant can override it. Off, every expiry still re-leases at market.
Downtime and free rent can be counted by month inside the year instead of rounding the gap up to a whole year. The switch is separate, and the default remains the whole-year rollover.
The inputs panel, the IC memo, the pro forma, the Excel rent roll and pro forma, and the Word and deck exports state the assumption when it is on. A parser suggestion for a typical renewal probability is reviewed before it is stored, and storing it does not turn the assumption on.
The deal desk can credit what commercial tenants reimburse, as its own line on EGI. The method is None until you change it. Net pays each space's square foot share of CAM, tax and insurance. A base-year stop pays the increase over the base year. Fixed pays the entered dollars per square foot per year. An optional recovery percentage is applied the same way commercial vacancy is. The cash flow, pro forma, memo, deck, Word file and Excel workbook name the line Expense recoveries. While the method is None, the model limitation still says expense recoveries are not modeled. A document never turns the input on. Saved deals keep it, and the recovery percentage and the fixed charge can go through a reviewed assumption batch.
Public address records now include national hazard, land, environmental, labor and Treasury context. A live lookup requires Underwrite Core when that line is on. The first 50 paid Core subscribers lock $49/user/month for life. The canonical figures do not move.
The first 50 paid Core subscribers lock $49/user/month for life. While seats remain, checkout tags the subscription and the pricing page, the home page, the trial line and the upgrade prompts show how many seats are left. When the 50 are taken, or the count cannot be read, those lines go away and the price reads as it does today. The price itself does not change. If the list price rises later, a founding subscription stays at $49/user/month.
An address lookup can now show a FEMA panel, USGS seismic values, Forest Service wildfire classes, nearby wetlands and protected areas, EPA facility summaries, BLS county labor figures, and Treasury par yields. Each figure keeps its source, date and limit. A source that was not queried says not run and links to the official page. None of these figures is written into the model.
When Underwrite Core is switched on, a live address lookup requires Core. Recorded views for Ithaca, Manhattan and Middlebury stay readable without a live request.
A Core account can copy or rotate a private address at in.getunderwrite.com. Forwarding an offering memorandum, a rent roll, or a trailing twelve as a PDF, XLSX, or CSV runs the same reader and saves the deal. The reply carries the verdict, NOI, cap rate, levered IRR, MoIC, min DSCR, the top flags, and links to the deal and the IC memo export. Unknown addresses, oversize files, and other attachments are refused. The hourly reader limit and the saved deal limit are unchanged.
Underwrite Core: $49/month, the first 30 days free. The worked example stays free with no sign-in. The canonical figures do not move: 15.34% IRR, 2.44x and PURSUE at a 6.50% exit cap, 13.51% IRR, 2.19x and PASS at 7.00%.
The worked example, Cayuga Commons, in full on screen with no sign-in: edit any input and watch the verdict recompute, every result tab, TRACE, Monte Carlo, the scenario and stress presets, its IC memo on screen and its own link. Links to it made before today keep working.
Reading a document (PDF, Excel or text, rent rolls included), starting and opening your own deals, the deal library and Compare, saving deals privately and reopening them on any device, every Excel export, the IC memo and print of your deals, and share links. Renews monthly until canceled. Cancel anytime from your account page.
The first 30 days are free with a card on file, once per person. The first charge is on day 31 unless you cancel before then, and Underwrite emails a reminder about three days before it.
A link to a deal other than the worked example is now made on the server for a subscriber and signed, and opens free for whoever receives it while the subscriber has Underwrite Core. A link built by hand, or changed after it was made, opens the worked example with the Underwrite Core prompt instead of a scored deal.
A subscription paid through a Stripe payment link is found when you sign in with the same email, and Restore my subscription on your account page asks again.
On wide screens the home page's Check the work section and the pricing page now use the width they are given. Layout only: no word or figure changed.
From 768px the home page's Check the work section spreads its three paragraphs and its list of twelve memo modules across the width instead of holding them in a narrow column. From 1024px the pricing page's plan card takes the full width in three columns, and the four figures at the top of the page sit under the request box. No word or figure changed.
The desk keeps the verdict on screen and folds the rest behind one control, the IC memo reads as a decision memo in chapters, the charts are redrawn, three engine paths are corrected, commercial expense recoveries arrive as an optional input, the home page is shorter and the pricing page names one plan. Card checkout is not open yet. The canonical figures do not move: 15.34% IRR, 2.44x and PURSUE at a 6.50% exit cap, 13.51% IRR, 2.19x and PASS at 7.00%.
A status bar along the bottom of the desk keeps the verdict, Project IRR and Min DSCR in view, with the flag and limitation counts on wider screens; a held deal shows Not scored and no figure. On a phone the bar is one row with the verdict and the IRR. From 1024px the workflow rail sticks at the top, and a shared link no longer paints the sample deal first.