RealSheets Underwriting
Standardize site underwriting, compare scenarios faster, and build lender- and investor-ready development analysis with reusable assumptions, cleaner outputs, and team-wide consistency.
Built for developers, acquisition teams, consultants, lenders, and deal sponsors.
Development Underwriting
Revenue + sellout assumptions
Hard costs + financing structure
Upside density scenario
Deal Scenario Intelligence
Standardize how teams build base cases, pressure-test assumptions, compare scenarios, and package development decisions with a cleaner shared workflow.
Scenario Review
Site assumptions loaded
Zoning, program mix, pricing, and cost framework prepared
Base case built
Revenue, hard costs, soft costs, and financing structure aligned
Live Analysis
See how different key cost and revenue components affect your pro-forma
Investment memo prepared
Stakeholder-ready outputs packaged for review
Component-level break-down
Model profitability across residential, commercial, and mixed-use components with detailed financial visibility from day one
Built for development teams
RealSheets is not just about building a model. It helps real estate teams standardize how development underwriting is prepared, reviewed, compared, and reused.
Standardize project assumptions, cost logic, financing structure, and scenario setups across every new opportunity.
Have your team comment on and rate the pro-forma and each pro-forma item to arrive at a more realistic estimate.
See how different assumptions are affecting the final number in real time as you evaluate the deal.
No more sending cold emails and costly brochures to clients and investors. Share the pro-forma and see who actually opened your pitch and how they interacted with it.
Comparison
Built for real estate development underwriting, not just generic spreadsheet workflows. RealSheets helps teams standardize how deals are modeled, reviewed, packaged, and reused across the pipeline.
| Feature | RealSheets Real Estate Native | Generic Spreadsheet Models Spreadsheet-based workflows |
|---|---|---|
| Real-estate development-first workflows | Built for single-family, multiplex, mixed-use, and tower underwriting | Usually adapted from generic spreadsheet logic |
| Reusable underwriting templates | Standardized project assumptions, financing structures, and output views | Template reuse is manual and team-dependent |
| Residual land value visibility | See land value shift as pricing, density, and cost assumptions move | Often requires custom formulas and manual audit |
| Scenario planning | Compare base, upside, and downside cases with structured sensitivity analysis | Versioning and comparisons are often fragmented |
| Project assumption controls | Organized inputs for revenue, costs, financing, timing, and exit assumptions | Assumptions are usually spread across tabs and files |
| Financing structure modeling | Debt, equity, carry, and timing logic in one connected workflow | Frequently built through bespoke spreadsheet sections |
| Presentation-ready outputs | Cleaner summaries for lenders, investors, and acquisition stakeholders | Outputs often need manual cleanup before sharing |
| Team review visibility | Make it easier for teams to review the same underwriting logic together | Collaboration is usually file-based and disconnected |
| Sensitivity analysis | Track return movement across pricing, cost, and timing changes | Sensitivity work is often custom-built per model |
| Rental and strata flexibility | Support multiple development paths from the same platform | Alternative use cases often require separate models |
| Auditability | Cleaner structure makes assumptions and outputs easier to review | Auditability depends heavily on spreadsheet discipline |
| Rollout readiness | Designed for repeatable team-wide underwriting standards | Rollout usually depends on who built the spreadsheet |
RealSheets: Built for single-family, multiplex, mixed-use, and tower underwriting
Spreadsheet-based workflows: Usually adapted from generic spreadsheet logic
RealSheets: Standardized project assumptions, financing structures, and output views
Spreadsheet-based workflows: Template reuse is manual and team-dependent
RealSheets: See land value shift as pricing, density, and cost assumptions move
Spreadsheet-based workflows: Often requires custom formulas and manual audit
RealSheets: Compare base, upside, and downside cases with structured sensitivity analysis
Spreadsheet-based workflows: Versioning and comparisons are often fragmented
RealSheets: Organized inputs for revenue, costs, financing, timing, and exit assumptions
Spreadsheet-based workflows: Assumptions are usually spread across tabs and files
RealSheets: Debt, equity, carry, and timing logic in one connected workflow
Spreadsheet-based workflows: Frequently built through bespoke spreadsheet sections
RealSheets: Cleaner summaries for lenders, investors, and acquisition stakeholders
Spreadsheet-based workflows: Outputs often need manual cleanup before sharing
RealSheets: Make it easier for teams to review the same underwriting logic together
Spreadsheet-based workflows: Collaboration is usually file-based and disconnected
RealSheets: Track return movement across pricing, cost, and timing changes
Spreadsheet-based workflows: Sensitivity work is often custom-built per model
RealSheets: Support multiple development paths from the same platform
Spreadsheet-based workflows: Alternative use cases often require separate models
RealSheets: Cleaner structure makes assumptions and outputs easier to review
Spreadsheet-based workflows: Auditability depends heavily on spreadsheet discipline
RealSheets: Designed for repeatable team-wide underwriting standards
Spreadsheet-based workflows: Rollout usually depends on who built the spreadsheet
* Comparison based on publicly available product descriptions and positioning as of publication date.
Standardize site analysis, scenario review, stakeholder-ready outputs, and repeatable underwriting decisions across your team.