Engine room
NOI calculator
NOI is where the story either earns its oxygen or starts lying.
Change the number
What the math says Metric - Waiting on inputs. Metric - Waiting on inputs. Metric - Waiting on inputs. Metric - Waiting on inputs.
The first number is only the beginning.
Collected income - Operating expenses - NOI -
The chart will name the assumption carrying the most weight once the model runs.
Scenario check
| Case | Result | What moved |
|---|
Assumption ledger
Assumption coach Move an input to see what assumption is carrying the story.
Which expenses are excluded?
Missing payroll
NOI is before debt service. Do not jam loan payments into operating math.
What this number is really saying
Everything downstream leans on NOI: cap rate, value, DSCR, sale price, and half the sponsor story.
The assumption to attack
Push vacancy up, insurance up, taxes up, payroll up. If NOI only works when reality behaves, it does not work.
What the math is ignoring
Debt service, capital improvements, investor taxes, and one-time items that should not be dressed up as recurring income.
Headline, stress, proof.
- Start with the headline result.It names the current modeled answer, not the decision.
- Compare the stress cases.The scenario strip shows which assumption makes the answer fragile.
- Use the ledger as a diligence list.Every input should map back to a document, invoice, statement, term sheet, or named assumption.
Documents before confidence.
T-12, general ledger, tax bill, insurance renewal, payroll schedule, management agreement, and every excluded add-back.
Stress before trust
- Missing payroll
- Understated insurance
- Cute add-backs
Make the model answer.
- Which expenses are excluded?
- Is management included?
- What did insurance and taxes do last renewal?
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