Free tools / Underwriting
Free CRE underwriting calculator
Underwrite commercial real estate deals in minutes — NOI, going-in and stabilized cap rates, DSCR, cash-on-cash, IRR, refi vs exit, and stress tests. Free commercial real estate underwriting with no account required. Share read-only reports instantly; save to your CREflow pipeline after signup.
- Going-in, all-in, and stabilized cap rate screening
- DSCR, cash-on-cash, equity multiple, and IRR by hold year
- Hold-period sensitivity and vacancy / expense stress scenarios
- Shareable read-only underwriting reports with CREflow branding
What is CRE underwriting?
Underwriting in commercial real estate means testing whether a deal works under your assumptions — purchase price, rent, vacancy, OpEx, and debt — before you write an LOI. The goal is clear returns: NOI, cap rate, DSCR, cash-on-cash, and IRR. CREflow’s free underwriting calculator replaces fragile spreadsheets for office, retail, industrial, multifamily, and mixed-use screening.
Why use a commercial real estate underwriting calculator?
Brokers and investors need a fast way to underwrite an offering before diligence. A CRE underwriting calculator turns asking price, rent per square foot, vacancy, OpEx, and loan terms into clear returns — so you can pass, pursue, or renegotiate with confidence.
CREflow’s free underwriting tool is built for office, retail, industrial, multifamily, and mixed-use acquisitions. Enter deal setup once, then iterate interest rate, down payment, rehab, and exit assumptions without rebuilding a spreadsheet.
Core CRE underwriting metrics explained
NOI (net operating income) is effective revenue minus operating expenses — the foundation of cap rate and DSCR. Cap rate divides NOI by purchase price (or all-in basis) to screen yield. DSCR compares NOI to annual debt service for lender risk. Cash-on-cash shows annual cash flow versus cash invested. IRR folds hold-period cash flows and sale proceeds into a single return.
How to underwrite a CRE deal with this tool
- Enter purchase price, square footage, rent, vacancy, and operating expenses
- Set financing (or cash purchase), closing costs, and hold period
- Review NOI, cap rates, DSCR, cash-on-cash, and IRR live
- Share a report or sign up to save the analysis into your deal pipeline
Have an offering memorandum PDF? Use the free OM upload & import tool to extract fields, then pre-fill this underwriting calculator.
Frequently asked questions
- What is a CRE underwriting calculator?
- A commercial real estate underwriting calculator models acquisition assumptions — purchase price, rent, vacancy, operating expenses, and debt — to estimate NOI, cap rate, DSCR, cash-on-cash return, and IRR before you write an LOI.
- Is this commercial real estate underwriting tool free?
- Yes. You can run full underwriting analyses on CREflow with no account. Sign up free when you want to save analyses to your deal pipeline or compare deals side by side.
- Which metrics does the underwriting calculator include?
- NOI, going-in and stabilized cap rates, DSCR, cash-on-cash, equity multiple, IRR by hold year, refi vs exit scenarios, and stress tests for vacancy and expense changes.
- Can I share an underwriting report with investors or partners?
- Yes. Create a read-only share link with CREflow branding. Anonymous share links expire after 30 days; signed-in users can generate longer-lived deal shares from the pipeline.
Prefer the full product? Sign up free to save analyses into your deal pipeline, or explore CREflow features.
Related reading: What is underwriting in real estate? · CRE underwriting practical guide · Cap rate vs cash-on-cash vs IRR