The Minute Underwriting Calculator — Free CRE Deal Analyzer | Chris Kirkman
{{ tFree }}

The Minute Underwriting Calculator {{ tH1a }} {{ tH1b }}

{{ tSub }}

Watch the training video HOW TO USE IT → Read the guide STEP BY STEP ↓
CKMinute Underwriting Calculator
CHRIS KIRKMAN · {{ presetName }} · {{ today }}
SUBJECT PROPERTY
{{ addrPrint }}
YEAR-1 RATING
{{ takeVerd }}
chriskirkman.com
RATING · CURRENT YEAR
{{ verd }}
{{ h.label }}
{{ h.value }}
{{ verdNote }}
Current Yr 1 Yr 2 Yr 3 Yr 4 Yr 5
{{ r.label }}
{{ c.txt }} {{ c.txt }}
{{ r.slider.lo }} {{ r.slider.hi }} {{ r.slider.cur }}
MY TAKE — CHRIS KIRKMAN
{{ takeVerd }}
"{{ myTake }}"
{{ r.mark }}{{ r.t }}
Lenders typically require DSCR ≥ 1.25x and stabilized occupancy ≥ 80%. Year 1 is what gets underwritten — not the as-is column. Not financial advice.
DEAL ANALYTICS
{{ addrPrint }}
{{ presetName }}
{{ today }}
OPERATING METRICS · CURRENT YEAR
{{ k.label }}
{{ k.value }}
{{ k.sub }}
DSCR trajectory
RED BAND = BELOW THE 1.25× LENDER FLOOR
{{ g.t }} {{ d.t }} {{ d.label }}
Where the revenue goes
CURRENT YEAR · GPR → VACANCY → EXPENSES → NOI
{{ expDonut.noiMargin }}NOI
MARGIN
Gross potential rent{{ splitGpr }}
Vacancy loss {{ vacPct }}−{{ splitVac }}
Effective revenue{{ splitRev }}
Operating expenses {{ expDonut.expPct }}−{{ splitExp }}
NOI{{ splitNoi }}
FULL-CYCLE RETURN · BUY, HOLD 5 YEARS, SELL AT {{ exitCapTxt }} CAP
{{ w.t }} {{ w.val }}
{{ e.label }}
{{ e.value }}
{{ e.sub }}
Equity build
POSITION IF SOLD AT THE EXIT CAP THAT YEAR
{{ e.tot }}
{{ e.label }}
{{ l.t }}
Cumulative cash flow
RUNNING TOTAL NET OF DEBT SERVICE · HOLD YEARS
{{ c.val }}
{{ cumCfRefTxt }}
{{ c.label }}
{{ paybackTxt }}
Run your own at chriskirkman.com/calc · free for life · not financial advice
tap −/+ on the blue cells to change assumptions · every row recalculates live
{{ takeVerd }} My Take

“{{ myTake }}”

{{ tr.mark }}{{ tr.t }}
TO MAKE IT LENDABLE · YEAR 1 · DSCR ≥ 1.25× · OCC ≥ 80%
{{ tip }}
CHRIS KIRKMAN · MY READ ON THE NUMBERS YOU ENTERED · NOT FINANCIAL ADVICE
WANT A SECOND SET OF EYES?

Send me your deal and I'll underwrite it with you

Book a free 30-minute call. Bring the numbers you just ran and we'll pressure-test the rate, the occupancy, and the exit together, live on the model.

THE NUMBERS, VISUALIZED

What the pro forma actually says

Everything below is live off the table above. Change one number and the whole picture moves with it.

{{ vizTitle }}
{{ vizSub }}
{{ b.val }}
{{ b.label }}
Where the revenue goes
CURRENT YEAR · GPR → VACANCY → EXPENSES → NOI
{{ expDonut.noiMargin }}NOI
MARGIN
Gross potential rent{{ splitGpr }}
Vacancy loss {{ vacPct }}−{{ splitVac }}
Effective revenue{{ splitRev }}
Operating expenses {{ expDonut.expPct }}−{{ splitExp }}
NOI{{ splitNoi }}
DSCR trajectory
DEBT COVERAGE BY YEAR · RED BAND = BELOW THE LENDER FLOOR
1.25× FLOOR
{{ g.t }} {{ d.t }} {{ d.label }}
OPERATING METRICS · CURRENT YEAR
{{ k.label }}
{{ k.value }}
{{ k.sub }}
FULL-CYCLE RETURN · BUY, HOLD 5 YEARS, SELL
EXIT ASSUMPTIONS Exit cap {{ exitCapTxt }} Cost of sale {{ sellCostTxt }} {{ exitSpread }}
SALE WATERFALL · END OF YEAR 5
{{ w.t }} {{ w.val }}
{{ e.label }}
{{ e.value }}
{{ e.sub }}
Equity build
YOUR POSITION IF YOU SOLD AT THE EXIT CAP THAT YEAR
{{ e.tot }}
{{ e.label }}
{{ l.t }}
Cumulative cash flow
RUNNING TOTAL NET OF DEBT SERVICE · HOLD YEARS ONLY
{{ c.val }} {{ c.pct }}
{{ cumCfRefTxt }}
{{ c.label }}
{{ paybackTxt }}
Sensitivity · {{ sensTitle }}
HOW YEAR 1 HOLDS UP IF PRICE AND RATE MOVE ON YOU
RATE ↓
PRICE →
{{ c.t }} {{ r.label }} {{ cell.t }}
Rows shift the interest rate, columns shift the purchase price. The outlined cell is the deal as entered. Everything else is what happens when the lender re-prices or the seller won't move.
UNITS
{{ unitsN }}
AVG RENT / MO
{{ avgRentNow }}
REVENUE / UNIT / YR
{{ revPerUnit }}
NOI / UNIT / YR
{{ noiPerUnit }}
OCCUPANCY BY YEAR
{{ o.v }}
{{ o.label }}
AVERAGE RENT / UNIT / MONTH
{{ rt.v }}
{{ rt.label }}
THE BOOK · OUT NOW

Stop collecting advice.
Start running an operating system.

456 pages of the thinking behind the calculator you just used, written down so you can install it in your own business.

The REbuild
A BUSINESS BUILDER'S OPERATING MANUAL

The REbuild is my 456-page founder's manual: faith made practical, systems that survive a bad week, and the exact playbooks I use to buy and run real assets.

$549 $39.97 SAVE 92% TODAY
ONE-TIME PAYMENT · LIFETIME ACCESS · EVERY FUTURE EDITION INCLUDED
Instant online access Every future update included 30-day guarantee
The REbuild — A Business Builder's Operating Manual by Chris Kirkman 456 + PAGES

456 pages, and not one of them is filler

Not a 200-page idea stretched thin. Every page is a teaching, a diagram, a worked formula, a worksheet you fill in, or a story from a real deal that cost me something.

{{ b.n }}
{{ b.l }}
The fifteen parts
{{ p.n }}
{{ p.t }}
{{ p.d }}
… continued
{{ p.n }}
{{ p.t }}
{{ p.d }}
A LOOK INSIDE · FRAMEWORKS YOU'LL USE ON A MONDAY
{{ f.t }} ON THIS PAGE
{{ f.d }}
ONE PURCHASE, THREE EDITIONS

You get all three for the same $39.97, plus every future edition. Edition One is the flagship: the fully designed, interactive manual with every worksheet, formula page and framework live in the members area. The other two exist so you can keep reading on a phone or hold a real paperback.

{{ e.e }}
{{ e.t }}
{{ e.d }}
{{ e.m }}
EVERYTHING YOU GET TODAY

The full operating system,
one price

This is not a book you finish and shelve. It is the most interactive and comprehensive 456-page operating manual of its kind: worksheets you fill in, formulas you run, checklists you work off, and a members area that keeps growing.

You do not read it. You run your life and your business on it.

WHAT'S IN THE BOXREAL-WORLD VALUE
{{ b.t }} — {{ b.d }}
{{ b.v }}
TOTAL REAL-WORLD VALUE $549 yours today for $39.97
The REbuild
456PAGES 53WORKSHEETS 3EDITIONS
ONE-TIME PAYMENT · LIFETIME ACCESS
$549 $39.97
SAVE 92% TODAY
Less than one hour of a mediocre consultant.
Get instant access →
SECURE CHECKOUT · INSTANT MEMBERS-AREA ACCESS
30
30-day, no-hassle guarantee. Run one loop. If it does not move your business, reply to your receipt and get every penny back.
WHAT RUNNING IT LOOKS LIKE
{{ p }}
NOT READY? START FREE $0
{{ f }}
Read the free edition →
WHO IT'S FOR
  • Operators buying their first or fifth commercial property
  • Founders whose business runs on them instead of on systems
  • Anyone rebuilding after a season that knocked them down
"
Most wins are not dramatic. They are maintenance done faithfully.
— CHRIS KIRKMAN, THE REBUILD
WHAT THIS CALCULATOR BECOMES

The same math, wired into the entire deal

This page runs one deal at a time. I'm building the system that runs all of them — sourcing, calling, underwriting, closing and operating on one dataset, so a property never gets re-typed between tools. Everything below is where this calculator is headed.

01
01 · SOURCE

Deals find you

County records swept nightly across 3,144 counties — tax delinquency, code violations, probate, liens — plus AI vision on Street View that scores a property's distress before anyone drives it.

02
02 · CONTACT

An AI voice agent works the phone

The dialer calls every owner on the list, qualifies motivation in a real conversation, honors DNC and calling windows, books the willing, and hands back a warm lead already attached to the property record. It never gets tired at 4pm on a Friday.

03
03 · CLOSE & OPERATE

From verdict to rent roll

The answered lead lands pre-underwritten in a pipeline, generates the LOI and lender packet, and after closing keeps living in the same system — occupancy, rent roll and delinquency, not a spreadsheet you abandon.

Six tools' worth of jobs, one login

Most investors duct-tape an underwriting tool, a data subscription, a deal tracker, a CRM, a dialer and a property-management dashboard together — then re-key the same property into all six.

{{ c.cat }} {{ c.badge }}
{{ c.title }}
{{ c.desc }}

It's in active development. If you want to see it early or talk about what it should do for your portfolio, reach out directly.

Get in touch with me
THE OPERATOR BEHIND IT

Built by an operator, for operators

Every tool on this page came out of a deal I was trying to underwrite and couldn't.

Chris Kirkman
FOUNDER · OPERATOR
chriskirkman.com →
{{ s.l }}{{ s.n }}

I bought my first self-storage facility the way most people do, with a broker's rosy pro forma and a spreadsheet I half-trusted. It took an hour to underwrite each deal and it still hid the things that mattered: the gap between physical and economic occupancy, the rate increases the last owner never sent, the three new facilities about to break ground down the road.

That first deal taught me the difference between a property that looks good and a property that pays. The seller's numbers were technically true. They were also arranged to flatter. Every line I did not verify myself turned into a surprise after closing, and the surprises were never in my favor.

So I started building. First a better storage calculator, then a market map so I could see saturation before I drove three hours to a site, then a way to track every deal I was chasing without losing half of them in my inbox. Each tool came out of a specific deal where I did not have the answer fast enough.

The habit that changed my results was screening more and agonizing less. Most deals are not close calls once you see them in the same format. When a screen takes a minute instead of an hour, you can run forty properties in a week and spend your real attention on the two that deserve it.

Everything here comes from operating, not theory. I still own the assets, still send the rate increases, still handle the delinquency calls. The thresholds baked into this model are the ones I use with my own money on the line, and I adjust them when a deal proves me wrong.

This calculator is where it all started: the exact model I use to screen a deal in about a minute, free for you to use as often as you like. No account, no export limit, no upsell before you get an answer.

Stating It Real
THE MASTERMIND · FOUNDING SEATS OPEN

The REal Circle

Bring one real deal, one real number, or one real problem. Leave with a decision — and a circle of operators who know your numbers.

The weekly call is the heartbeat. The community is the bloodstream. The book is the curriculum, and it comes free with your seat.

{{ f.n }}
{{ f.l }}
WHAT THE CIRCLE RUNS ON
{{ p.t }}
{{ p.d }}
THE ONE RULE Bring a real number or a real question. You don't have to be doing well to belong; you have to be honest about where you are.
FOUNDING · FIRST 50 ONLY
A founding seat
LOCKED AT THIS RATE FOR AS LONG AS YOU STAY
$97 $77 /month or $832/yr · save 10%
{{ c }}
Take a founding seat →
FIRST CALL FREE BEFORE YOU PAY · CANCEL ANY TIME
The Circle lives on my Stating It Real platform — the podcast and more are on the way. Members work the same loop this page teaches, with the calculator on screen. See inside the community →
WORK WITH ME DIRECTLY

Mentorship & Coaching

Contact me

I'm a true believer in making the most of yourself in every aspect of your life. I live by "90 days per month" — everyone can maximize their efficiency and effectiveness if they break out of the time boxes society places on them. I believe in an abundant, happy life: educate yourself, build many streams of income, help others, and don't fear failure — failure is what teaches the lessons that ultimately lead to success.

I'm a man of faith and treat my body with respect — sleep tracking and optimization, supplementation, and diet — because optimizing health drives every other part of life. I'm an entrepreneur, investor, and product designer with over twenty years in business, investing, user-experience design, and marketing, spent growing my own companies and the ones I've been hired to help, just like yours.

I'll build a custom approach for you to better manage your professional and personal life by maximizing your time, health, efficiency, and effectiveness. Join me in living "90 days per month" and take your life to the next level.

{{ m.num }}
{{ m.t }}
{{ m.d }}
Jon Rankin
Founder & CEO of Go Be More · Pro Track & Field Athlete for Nike
"

Chris has shared insight that changed the way I approach not only business, but my use of time in all areas of my life. His approach to maximizing your effort in relation to time has allowed me to develop and manage multiple successful business ventures at once. It's an approach that would benefit any business owner or entrepreneur looking for sustainable success in all facets of their life.

WHAT NOW?

You ran the numbers — now let's go further

Four steps from a free deal screen to hands-on mentorship. Start wherever you are.

STEP {{ w.n }}
{{ w.title }}

{{ w.body }}

{{ w.tag }}
Ready to stop guessing on deals?
Bring a real one. In 30 minutes we'll underwrite it together and map your next move.
Book a call →
GET IN TOUCH

Send it over and I'll take a look

A deal, a question, or where you're trying to get to. I read every message myself and usually reply within a day.

WHAT'S THIS ABOUT?
Add your name, a valid email, and a note so I know what I'm looking at.
Opens your email app with everything filled in. Nothing is stored on this page.
Thanks, {{ cName }}.

Your email app should have opened with the message ready to send. If it didn't, write me directly at chris@chriskirkman.com and I'll pick it up from there.

Chris Kirkman
FOUNDER · OPERATOR
WHAT HAPPENS NEXT
01I read it myself, usually same day.
02If it's a deal, I run it and reply with what I'd want checked.
03If it's worth 30 minutes, we get on a call. No pitch.
ON INSTAGRAM

Deals, builds & the daily grind

Hover a panel for a peek. Behind the scenes on the properties, the platform, and living 90 days per month.

Follow @chriskirkman
LIVE VIA BEHOLD · {{ igCount }} POSTS · {{ igLast }}
SEE ALL POSTS ON INSTAGRAM →
PART OF THE CHRIS KIRKMAN ECOSYSTEM
Step by step

How to underwrite a deal in about a minute

The same walkthrough I give live, with the actual screens beside each step. Work down the six with a real listing open and you will have a defensible number before the coffee cools.

1Start with the address and the price
Drop in the property and the asking price, or the price you intend to offer. The calculator does not care what the seller hopes it is worth; every number downstream keys off what you would actually pay.
Property address
Gull Road Self Storage, Kalamazoo MI
Purchase price
$2,400,000
The most you would pay, not their ask. Underwrite at your ceiling.
The two inputs everything keys off
2Enter the income, honestly
Current rents in place, not pro-forma promises. If you do not have exact figures yet, use a conservative range and tighten it later; a deal that only works on perfect inputs is not a deal.
Gross potential rent
$415,000
In-place unit rents, annualized.
Vacancy %
18
Physical vacancy, not your best month.
In-place rents, then an honest vacancy
3Load the expenses
Taxes, insurance, utilities, management, maintenance. Missing data? Start with a realistic expense ratio and replace it with real statements before you sign anything. Thirty-eight percent is a fair opening assumption on a small self-storage facility.
Expense ratio %
38
Start here, replace with real statements.
Total expenses
$129,314
Taxes, insurance, utilities, mgmt, maint.
A ratio now, real statements later
4Set the debt terms
Down payment, rate, amortization. This is where today’s market bites, so test the payment at the rate you can actually get quoted, then stress it a point higher and see whether the deal survives.
Down payment %
25
Interest rate %
7.25
Loan term (yrs)
25
Test the rate you can actually get quoted
5Read the verdict
NOI, cap rate, DSCR, cash-on-cash, and the five-year pro forma, scored plainly: Bad, Good, or Stellar. If DSCR is thin, the answer is not hope; it is a lower price or better terms.
NOI$210,986
Cap rate8.79%
DSCR1.35
Cash-on-cash9.1%
RatingGOOD
Four numbers and a plain verdict
6Write your walk-away number
Before any call, write the number past which you walk. Then export the one-page PDF or CSV and make the offer. The worst they can say is no, and you will have said it with numbers behind you.
Seller asking$2.60M
Your walk-away · the most you will pay$2.40M
Your opening offer$2.10M
Write the walk-away number before the call, not during it. Everything between your offer and that ceiling is negotiating room; anything above it is somebody else’s deal.
The number you decide before you dial
The worked example above is a real deal.
A self-storage facility in Michigan: $415k gross potential, 18% vacancy, 38% expenses, $2,400,000 purchase, 25% down at 7.25% over 25 years. That is how it scores Good.
Run your own ↑