Physical and financial drift
The model can retain an old area, unit count or delivery program after the scheme changes.
Model & evaluate
Underwrite the development case that can actually be delivered.
Keep site quantities, costs, revenue, financing, timing and risk connected so every viable scenario can be tested as its own investment case.
Maple AvenueUnderwriting
Current✦ AI Assist
Developer questionDoes the preferred scheme meet our return threshold—and which assumptions could change that answer?
6.9%Yield on cost
18.2%Levered IRR
$47.6MPeak equity
The underwriting problem
The drawing changes. The model does not always follow.
Teams copy quantities and timing between design files and financial models, then spend review cycles finding which version contains the current development case.
- Scheme quantities→
- Manual model update→
- Cost revision→
- Version reconciliation→
- Committee model
Sensitivity is fragmented
Land, cost, rent, delay and financing risks are tested in separate files or not at all.
Return hides capital
A headline IRR can obscure peak equity, timing, downside exposure and the assumptions driving it.
Connected development underwriting
Give every viable scenario its own financial case.
The model remains connected to the physical program and the evidence supporting its assumptions.
Connect quantities
Bring area, units, parking, infrastructure and phasing directly from the selected scenario.
Set assumptions
Apply acquisition, cost, revenue, financing, timing and exit assumptions.
Model the cash flow
Calculate cost timing, debt and equity draws, revenue, stabilization and exit.
Stress the decision
Test land price, cost, lease-up, delay, financing and exit sensitivities.
Investment case
See whether the return remains credible when assumptions move.
The preferred scenario is evaluated against the organization’s thresholds and the few assumptions with the greatest decision impact.
“Does the preferred scheme meet our return threshold—and which assumptions could change that answer?”
Maple Avenue · DallasCurrent decision view
CurrentTotal development cost$118.4M$332.6K per home
Yield on cost6.9%+40 bps to target
Levered IRR18.2%Base case
Delayed lease-up16.7% IRRStill above threshold
✦
RecommendationAdvance the base case with Scenario B as the preferred development plan.
What the team receives
A usable decision output—not another disconnected report.
Every result stays connected to the opportunity, the assumptions behind it and the workflow that comes next.
Scenario model
Keep a separate financial case for every viable physical development option.
Cash-flow profile
See cost, capital, revenue and exit timing across the delivery period.
Sensitivity matrix
Identify the assumptions most capable of changing the recommendation.
Threshold test
Show where the case clears or misses the organization’s required return and risk criteria.
Next in the development workflow
Continue Continue to Compare
Put the strongest opportunities and scenarios beside the same strategy benchmark.
Underwriting FAQ
Questions development teams ask.
Can we use our existing underwriting assumptions?+
Yes. Acquisition, cost, financing, revenue, timing and return thresholds can reflect your organization’s model and policy.
Can we compare multiple scenarios?+
Yes. Each viable scheme can retain its own quantities and financial case for consistent comparison.
Does UnlockLand replace our final investment model?+
UnlockLand supports connected scenario analysis and decision preparation; organizations can retain their required approval models and controls.
Model & evaluate
Book a tailored demo See Underwriting work on a development opportunity your team already knows.
Bring a live deal, your current assumptions and the decision your team needs to make.