Underwrite your next rental in 10 minutes — without paying for a comps tool

Real Groq output — Prompt #1 (BRRRR screen) run on a Memphis SFR listing:

**1. ARV estimate:**
To estimate the After Repair Value (ARV), I'll consider the property's location, size, and condition. Assuming a moderate renovation, I'll use the following comps:
- A similar 3 bed/1.5 bath property in the area, renovated, sold for $160,000 (1,200 sqft)
- Another comparable property, also renovated, sold for $155,000 (1,100 sqft)
Considering the subject property's slightly smaller size and original condition, I'll estimate the ARV at $145,000.

**2. Rehab budget:**
The 5 biggest line items for the rehab budget are:
- Roof replacement: $8,000 - $12,000
- HVAC installation: $4,000 - $6,000
- Kitchen renovation: $10,000 - $15,000
- Flooring (hardwood refinishing and potential additional flooring): $3,000 - $5,000
- Electrical and plumbing updates: $5,000 - $8,000
Total estimated rehab budget: $30,000 - $46,000

**3. Refi math at 75% LTV:**
Assuming a 75% LTV refinance, and using the estimated ARV of $145,000:
- Refinance amount: $145,000 * 0.75 = $108,750
- Initial purchase price: $124,000
- Rehab budget (using the midpoint of the estimated range): $38,000
- Total initial investment: $124,000 + $38,000 = $162,000
- Cash-out refinance: $108,750 (refinance amount) - $124,000 (initial purchase price) = -$15,250 (this would be a cash-in, not cash-out, due to the high initial purchase price)
However, considering the rehab budget, the actual cash-out would be: $108,750 (refinance amount) - $162,000 (total initial investment) = -$53,250

**4. Cash flow at the projected rent:**
Using the estimated market rent of $1,150/month:
- Gross income: $1,150/month * 12 = $13,800/year
- PITI (using a 4% interest rate, 30-year loan, and 75% LTV): $543/month (P&I) + $83/month (property taxes, assuming 0.75% of ARV) + $50/month (insurance) = $676/month
- Management: 10% of gross income: $1,150/month * 0.10 = $115/month
- Maintenance: 5% of gross income: $1,150/month * 0.05 = $57.50/month
- Vacancy: 5% of gross income: $1,150/month * 0.05 = $57.50/month
Total monthly expenses: $676 (PITI) + $115 (management) + $57.50 (maintenance) + $57.50 (vacancy) = $906/month
Annual cash flow: $13,800 (gross income) - $10,872 (total annual expenses) = $2,928/year
Monthly cash flow: $2,928/year / 12 = $244/month

**5. RED FLAGS or risk factors:**
1. **High initial purchase price:** The asking price of $124,000 is relatively high compared to the last sale price of $87,000 in 2019. This may indicate a potential overpayment.
2. **Original roof and HVAC:** The property's original roof (~20 years old) and lack of functional HVAC may lead to significant repair or replacement costs, which could impact cash flow and overall profitability.
3. **As-is, vacant condition:** The property's as-is, vacant condition may hide potential issues or needed repairs, which could increase the rehab budget and impact the overall investment's profitability. A thorough inspection is necessary to identify potential risks and costs.

Output truncated for the sample. The full pack's prompt has tighter constraints + a structured output schema you can hand to a junior teammate.

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