SmartHelping / Real Estate Development / Excel
Housing & Condo Development
Evaluate a housing or condominium development with a ten-year financial model. Plan construction costs, financing and cash flow, then choose the version for selling completed units or holding them as rentals.
Build to Sell
Develop housing or condos for sale, with unit starts, sales collection timing, IRR sensitivity and an optional interest reserve.
Immediate download after purchase. By purchasing, you agree to the Terms of Service.
Build to Rent
Plan a housing or condo development that will be held as rental property. Choose this version when rental operations are part of the project.
Immediate download after purchase. By purchasing, you agree to the Terms of Service.
Build to Sell walkthrough
Plan the development from construction through unit sales.
Review the version designed to build and sell housing or condos with no rental period. Open the screenshots below to explore the workbook.
Build to Rent overview
Explore the version for a rental development.
Use the dedicated overview and screenshots to review the Build to Rent workbook. A longer walkthrough is available further down the page.
Build to Sell development framework
Connect the construction schedule to costs and investor returns.
Configure the unit mix, development costs and project assumptions, then review the financial results for the overall project and its investors.
Up to 10 years of reporting
Evaluate a period of up to 10 years using monthly and annual views of the development forecast.
10 unit types with monthly schedules
Configure up to 10 unit types with flexible quantities within each type. For each type, use separate rows for the number of units started per month and the number of units sold per month.
Detailed costs by unit type
Use the granular cost schedule to define the different development costs associated with each unit type.
Separate project and ongoing costs
Record costs outside the direct unit-building schedule, including land acquisition, architecture fees, property taxes and other project expenses.
Global assumptions
Set high-level assumptions on the Global tab and review how changes flow through to the final investment-return metrics.
Project, GP and LP summaries
Review IRR, NPV, ROI, equity multiple and other outputs for the overall project, general partner (GP) and limited partner (LP).
Build to Sell updates
Make collection timing, equity and interest treatment explicit.
The updated Build to Sell version includes these additions to the development and investment analysis.
Sales collection schedule
Define when sales proceeds are collected relative to the sale date using a dynamic collection schedule.
Equity contributions and distributions
Use the revised layout to enter equity contributions more easily and review distributions from the project.
IRR sensitivity table
Review the added IRR sensitivity table as part of the Build to Sell investment analysis.
Optional interest reserve
When debt is used, choose whether an interest reserve is required with a yes/no selector. If required, select the number of months of interest to fund up front. If not required, interest flows through cash flow each month as incurred.
Development spending and debt timing
Keep funding assumptions close to the construction plan.
The Build to Sell model supports high-level manual inputs where needed, including actual project figures, alongside its assumption-driven schedules.
Debt draws
Enter draw amounts and the timing of draws to reflect how the project is financed during development.
Repayment timing
Define when debt is repaid so the cash flow analysis reflects the planned repayment schedule.
Development costs and financing
Review total development costs per month against the total amount financed per month to understand the project’s funding profile.
Joint venture and investor analysis
Choose the waterfall for your development structure.
The development model includes two joint venture options and a configurable set of GP fees for projects raising capital from investors.
IRR hurdle cash flow waterfall
Use the IRR hurdle option to evaluate the allocation of cash flow between the GP and LP under the selected hurdle structure.
Preferred return cash flow waterfall
Use the preferred-return option to evaluate investor distributions under a preferred-return structure.
Build to Sell workflow
Turn the development plan into a financial case.
Start with the blank workbook or use the filled-in example to follow the data shown in the video.
Set the project and unit mix
Use the Global tab for high-level assumptions and configure up to 10 unit types within the development forecast.
Schedule starts, sales and costs
Enter monthly unit starts and sales, detail costs for each unit type and add land, architecture, taxes and other project costs.
Configure cash collection and funding
Set sales collection timing, equity contributions, debt draws and repayment timing. If debt is used, select the required interest-reserve treatment.
Review investor distributions and returns
Configure GP fees and select a joint venture waterfall, then review project, GP and LP returns, monthly and annual results and IRR sensitivity.
Who these models are for
For housing and condo development projects.
Build-and-sell developers
Evaluate new housing or condo construction with a model designed around development costs, completed-unit sales, financing and investor distributions.
Rental development teams
Select the Build to Rent version when the planned housing or condo development includes rental operations. Review its dedicated overview, screenshots and in-depth walkthrough.
Build to Rent in depth
Take a closer look at the rental development workbook.
Watch the longer Build to Rent walkthrough to review this version in more detail before selecting it.
Bundles and additional variations
Choose the collection that fits your development work.
This model is included in the Real Estate and Construction bundles. Additional housing and condo development variations are available through SmartHelping Plus.
Real Estate Models
Explore financial models for property development, acquisitions, financing and investment analysis.
View the Real Estate bundleConstruction Spreadsheets
Access construction-focused spreadsheets and models for project planning and financial analysis.
View the Construction bundleSuper Smart Bundle
Access the complete public SmartHelping template collection across industries and financial-analysis needs.
View the Super Smart BundleSmartHelping Plus — Additional Variations
Explore the additional variations of this housing and condo development model included in SmartHelping Plus.
View SmartHelping PlusQuestions before you buy
A few useful details.
Are Build to Sell and Build to Rent separate purchases?
Yes. Each version is $45 and has its own purchase button. Select Build to Sell for completed-unit sales or Build to Rent for a development with rental operations.
Does the download include an example?
Yes. The download includes a blank version and a filled-in version using the data shown in the video.
How many unit types can I model?
The development framework supports up to 10 unit types, with flexible quantities within each type. In Build to Sell, each type has separate monthly inputs for units started and units sold.
Can sales proceeds be collected after the sale date?
Build to Sell includes a dynamic schedule for collection timing relative to the sale date, so the cash collection schedule can differ from the sales schedule.
How does the Build to Sell interest reserve work?
When debt is used, a yes/no selector determines whether an interest reserve is required. If yes, select the number of months to fund up front. If no, interest hits cash flow each month as incurred.
Does the model support joint venture investors?
Yes. The development model includes an IRR hurdle waterfall, a preferred return waterfall and configurable GP fees. Return summaries include IRR, NPV, ROI and equity multiple for the project, GP and LP.
Where can I find additional variations?
Additional variations of the housing and condo development model are included in SmartHelping Plus, linked in the bundles section above.
Build the financial case behind the development
Plan the project from construction to its intended outcome.
Choose Build to Sell or Build to Rent for $45 per version. The download includes a blank workbook and a filled-in example.
