# Aznatkoiny Zai Skills Real Estate Investment > Real Estate Investment Analysis - Skill: `tomevault-io/aznatkoiny-zai-skills-real-estate-investment` (Agent Skill, multi-file: 2 files) - Install (CLI): `npx skillmds@latest add tomevault-io/aznatkoiny-zai-skills-real-estate-investment` - Raw SKILL.md: https://api.skillmd.com/api/skills/tomevault-io/aznatkoiny-zai-skills-real-estate-investment/raw - Safety review: pending (external: skill-scanner PASS, skillspector PASS) - Works with: Claude Code, Claude.ai, OpenAI Codex - Category: Coding & Dev Tools - Author: tomevault-io (https://skillmd.com/u/tomevault-io) - Updated: 2026-09-17 - Page: https://skillmd.com/skills/tomevault-io/aznatkoiny-zai-skills-real-estate-investment --- # Real Estate Investment Analysis Comprehensive real estate investment analysis — from deal screening through financial modeling to investor-ready output. Covers all property types, standard and advanced metrics, code generation, and tax-aware structuring. ## Analysis Workflow Follow this 6-step process for any deal or market analysis: 1. **Define scope** — Identify property type, investment strategy, and target output format 2. **Gather data** — Collect property financials, market data, and comps (use API reference if automating) 3. **Build pro forma** — Construct income statement: Gross Rent → Vacancy → EGI → OpEx → NOI → Debt Service → Cash Flow 4. **Calculate returns** — Apply appropriate metrics (see Quick Reference below) 5. **Stress test** — Run sensitivity analysis, scenarios, or Monte Carlo simulation 6. **Report** — Generate investor-ready output with recommendations ## Quick Reference — Core Metrics | Metric | Formula | Typical Range | |--------|---------|---------------| | **NOI** | Effective Gross Income - Operating Expenses | Varies by asset | | **Cap Rate** | NOI / Property Value | 4-10% (market-dependent) | | **Cash-on-Cash** | Annual Pre-Tax Cash Flow / Total Cash Invested | 8-12% target | | **DSCR** | NOI / Annual Debt Service | 1.2x+ (lender minimum) | | **IRR** | Discount rate zeroing NPV of all cash flows | 15-20% target | | **Equity Multiple** | Total Distributions / Total Capital Invested | 2.0x+ over hold | | **GRM** | Property Price / Annual Gross Rent | 8-15 (lower = better) | | **Break-even Occ.** | (OpEx + Debt Service) / Potential Gross Income | <85% preferred | For complete formulas, Python code, and Excel equivalents → load `references/financial-metrics.md` ## Property Type Router Select the analysis framework based on property type: | Property Type | Key Metrics | Rules of Thumb | Reference | |--------------|-------------|----------------|-----------| | **SFR / Small Multi (1-4)** | CoC, Cap Rate, DSCR | 1% rule, 50% rule, 70% rule | `references/property-types.md` §Residential | | **BRRRR** | ARV, Rehab ROI, Refi LTV | 70% rule: Max buy = 70% ARV - repairs | `references/property-types.md` §Residential | | **House Hack** | Effective housing cost, FHA terms | 3.5% down FHA, self-sufficiency test | `references/property-types.md` §Residential | | **Large Multifamily (5+)** | Per-unit metrics, NOI, Cap Rate | OpEx ratio 35-45% | `references/property-types.md` §Commercial | | **Commercial (Office/Retail)** | Per-SF metrics, lease analysis | NNN vs Gross lease impact | `references/property-types.md` §Commercial | | **Short-Term Rental** | RevPAR, ADR, Occupancy | Revenue = ADR x Occ x 365 - fees | `references/property-types.md` §STR | | **Land / Development** | Absorption rate, dev pro forma | Total cost vs projected value | `references/property-types.md` §Land | ## Analysis Type Router Select the analysis methodology based on what the user needs: | Need | Method | Reference File | |------|--------|----------------| | Run the numbers on a deal | Pro forma + core metrics | `references/financial-metrics.md` | | Stress test assumptions | Sensitivity analysis (bear/base/bull) | `references/advanced-analysis.md` §Sensitivity | | Model uncertainty/risk | Monte Carlo simulation | `references/advanced-analysis.md` §MonteCarlo | | Syndication distributions | Waterfall modeling (GP/LP splits) | `references/advanced-analysis.md` §Waterfall | | Compare/score markets | Market scoring framework | `references/market-analysis.md` §Scoring | | Pull market data via API | API integration patterns | `references/market-analysis.md` §APIs | | Find and adjust comps | Comparable analysis | `references/market-analysis.md` §Comps | | Optimize tax impact | Depreciation, cost seg, 1031 | `references/tax-strategy.md` | | Choose entity structure | LLC, LP, S-Corp comparison | `references/tax-strategy.md` §Entity | ## Output Format Selection Adapt output to the user's request: **Spreadsheet-ready** — Generate formatted tables with formulas. Use pandas DataFrames exported to CSV/Excel. Include Excel formula equivalents for each calculation. **Decision framework** — Provide structured narrative analysis with go/no-go recommendation. Include risk factors, key assumptions, and sensitivity ranges. **Code generation** — Produce Python scripts using numpy-financial and pandas. Include complete, runnable pro forma models, Monte Carlo simulators, or waterfall calculators. **Investor report** — Combine all three: executive summary, financial tables, risk analysis, and appendix with methodology. ## Operating Expense Benchmarks by Property Type | Property Type | OpEx Ratio (% of EGI) | Management Fee | |--------------|----------------------|----------------| | Single-Family Rental | 35-50% | 8-10% | | Small Multifamily (2-4) | 35-45% | 8-10% | | Large Multifamily (5+) | 35-45% | 5-8% | | Office | 35-55% | 3-5% | | Retail (NNN) | 15-25% | 3-5% | | Retail (Gross) | 60-80% | 3-5% | | Industrial | 15-25% | 3-5% | | Short-Term Rental | 50-65% | 20-25% | ## Key Tax Thresholds (2025-2026) | Strategy | Key Detail | |----------|------------| | **Depreciation** | Residential: 27.5yr, Commercial: 39yr (straight-line) | | **Bonus Depreciation** | 100% for property placed in service Jan 20, 2025 – Dec 31, 2030 | | **Cost Segregation** | Reclassify 15-40% of building into 5/7/15-yr assets | | **Section 179** | $2.5M max deduction (2025), phase-out at $4M | | **1031 Exchange** | 45-day ID period, 180-day closing, like-kind real property only | | **Opportunity Zones** | Made permanent (2025), 10-year gain exclusion on QOF investment | For complete tax analysis with IRS code references → load `references/tax-strategy.md` ## API Quick Reference | Provider | Best For | Pricing | Auth | |----------|----------|---------|------| | **Mashvisor** | STR + LTR rental data | $30-$120/mo | x-api-key header | | **AirDNA** | STR performance data | $12-$599/mo | Bearer token | | **ATTOM** | Deep property data (155M+ properties) | $850-$2K/mo | apikey param | | **Rentcast** | Rental estimates | Free-$449/mo (50 free/mo) | X-Api-Key header | | **Census Bureau** | Demographics, housing | Free (API key required) | key param | | **Redfin Data Center** | Market trends | Free (CSV download) | None | For endpoint URLs, Python examples, and integration patterns → load `references/market-analysis.md` ## Waterfall Distribution Quick Reference Standard syndication tiers: | Tier | IRR Hurdle | LP Share | GP Share | |------|-----------|----------|----------| | 1 (Return of Capital + Pref) | 0-8% | 100% | 0% | | 2 (First Promote) | 8-12% | 90% | 10% | | 3 (Second Promote) | 12-18% | 80% | 20% | | 4 (Final Split) | 18%+ | 60% | 40% | Market data: 8% pref in 40% of deals, 10% pref in 30% of deals. 85% of waterfalls use IRR hurdles. For complete waterfall mechanics, catch-up provisions, and Python calculator → load `references/advanced-analysis.md` ## Reference File Index Load the appropriate reference file based on the analysis need: | File | Contents | When to Load | |------|----------|-------------| | `references/financial-metrics.md` | 12 metrics with formulas, Python functions, Excel formulas, complete RealEstateProForma class, amortization schedules | Building a pro forma, calculating returns, generating Python/Excel models | | `references/advanced-analysis.md` | Sensitivity tables, Monte Carlo simulation (Python), waterfall calculator, syndication LP/GP mechanics | Stress testing deals, modeling risk, syndication analysis | | `references/property-types.md` | BRRRR framework, house hack analysis, commercial underwriting, STR revenue modeling, land development feasibility | Analyzing a specific property type with tailored frameworks | | `references/market-analysis.md` | Market scoring with 15+ indicators, 6 API integrations with Python code, comp adjustment methodology, submarket signals | Comparing markets, pulling data via APIs, running comps | | `references/tax-strategy.md` | Depreciation schedules, cost segregation savings, 1031 exchange rules, bonus depreciation (2025-2030), opportunity zones, entity structure comparison | Tax-optimizing a deal, choosing entity structure, planning exchanges | ## Audience Adaptation - **Beginner investors**: Explain metric meanings, recommend starting with the 1% rule and cash-on-cash return, walk through pro forma line by line - **Experienced investors**: Skip basics, lead with IRR and equity multiple, provide code/spreadsheet output, focus on sensitivity analysis and tax optimization - Default to **expert-level analysis** unless context suggests otherwise --- > Converted and distributed by [TomeVault](https://tomevault.io/claim/aznatkoiny) — claim your Tome and manage your conversions.