Answer
How do I model a ground-up multifamily development?
Start from the Multifamily development template, then build the development budget and draw schedule, set the timeline and lease-up, and size the construction loan and takeout. Construction interest and fees are solved together with total cost. Set the waterfall and sponsor fees, read returns, and share a private copy with your lender.
Answer
Can I check feasibility before building the full model?
Yes. The Free Feasibility Model takes your unit mix and costs and returns yield on cost, development spread and a verdict of Strong, Marginal or Below target, with no sign-in. When the site holds up, move into the full development model to underwrite, finance and share it.
Fit
Built for, and not for
Built for
- Ground-up multifamily developers building budget, draws, debt and equity in one model.
- Teams that take a deal from site check to committee memo to lender.
Not for
- Asset types other than multifamily.
- A broker CRM, a property-management system or appraisal software.
Workflow
Screen → Start → Budget → Debt → Waterfall → Share
Step 01
Screen
Check the site with the Free Feasibility Model: yield on cost, development spread and a verdict. Download the PDF by email.
Free Feasibility Model →
Step 03
Budget & draws
Development Budget with contingency, developer fee, escalation and retainage; draw curves with anchors.
Development budget & draws →
Step 04
Timeline / lease-up
Construction start, first delivery, and lease-up by pace, a monthly grid or seasonality.
Multifamily model →
Step 05
Construction debt
Construction interest capitalizes into the balance, inside or outside the LTC base. Stress construction DSCR at a rate you set.
Debt & loan sizing →
Step 06
Takeout
Permanent takeout Sized or Rate and term; Cash-out refinance or Takeout only.
Debt & loan sizing →
Step 07
Waterfall & fees
A return-of-capital tier, an 8% preferred return and two promote tiers. Set acquisition and asset-management fees.
Equity & waterfall →
Step 09
Memo / pack
Committee memo or Investor pack, built from the deal's current version.
Reports & Excel export →
Step 10
Share with lender
Share a private copy with your construction lender.
Sharing & lender review →
Comparison
Your spreadsheet vs cre.build
| Job | Your spreadsheet | cre.build |
|---|---|---|
| Change an assumption | Edit a cell; an inserted row can leave a total summing the wrong range, with no record of what changed. | Named line items: Default, Hardcode, Alternate method or Custom formula on expense lines, a custom formula on budget lines, and a ◆ flag on every line you take over. |
| See who changed what | Compare file names and track changes by hand. | Deviations with Who and why, and Versions › Compare with IRR impact. |
| Size the loan | Build each test yourself. | Sizing tests with the binding constraint named. |
| Share with a lender | Email the workbook and wait for comments. | A private copy they work in, with a proposal sent back. |
| Get the numbers out | It's already a spreadsheet. | Reports from the current version, and an Excel snapshot. |
| Draw the budget | Hand-built draw schedules. | One draws panel for the whole budget, with curves and anchors; each category and line inherits until you set it. |
Methodology
Check the math yourself
Methodology
How CRE Build calculates every figure
Every number points back to its source, and the methodology page shows the math.
Methodology →Free tool
Free Feasibility Model
Screen a site without signing in: yield on cost, development spread and a verdict, with a PDF by email.
This report is an estimate produced from user inputs and general market assumptions. It is not investment, legal, tax, or lending advice, and it is not an appraisal or an offer of financing. Verify all figures independently before making any decision.
Open the Free Feasibility Model →FAQ
Questions
What does the development template include?
It starts a ground-up deal with a development budget and draws, and construction, mezzanine and permanent takeout debt, with a return-of-capital tier, an 8% preferred return and two promote tiers. You change only the lines where your view differs.
Can I model ground-floor commercial space?
Yes. Add ground-floor commercial income to a multifamily deal with the optional Commercial Income section.
How are construction-period taxes handled?
The model covers construction-period taxes and reassessment at stabilization or on sale. The methodology page shows how.
Pricing