Standalone Commercial Appraisal Software
for Real Estate Professionals


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Real Estate Income Analysis

The income analysis capabilities described below are available in both Commercial Complete and Investment Analyst. They enable real estate professionals to analyze and value income producing real estate, applying advanced mathematical techniques.

Real Estate Valuation Software
Our real estate valuation software is used by professionals in many real estate related fields. They use it because our real estate valuation software reduces complicated mathematical techniques to a proportion that the average layman can understand. They use it because it gives them accurate value calculations, it allows them to easily create "what-if" scenarios, and it produces clear, clean, understandable reports.

Designed for Appraisers
But, more than any other professional, our income analysis software is used by the valuation pros - appraisers. Members of all major appraisal organizations use our products - MAIs, SRAs, CCIMs, SRPAs, ASAs, IFAs.

Investment Analyst has been around since 1987. It is still a popular standalone income analysis product and now it also has been incorporated into Commercial Complete. Not a set of spreadsheet templates, the software is written from scratch to give you the best performance and the built in intelligence to perform reliable income analyses. Each year since 1987, Analyst has been improved upon. And each design improvement was made with the appraiser in mind. Why? Because when a fee appraiser uses our income analysis software for valuations that are relied upon for lending decisions, in court proceedings between municipalities and owners, in estate valuations, etc., the appraiser needs the best. And when we design our software to meet an appraiser's stringent requirements, other professionals will recognize its value too.

Our newest product, Commercial Complete, includes all of the features of Investment Analyst, plus a powerful real estate database, sales comparison analysis, building cost analysis, and automated narrative capabilities.

Premier Analysis Tool
Investment Analyst has always been a premier income analysis tool. It develops capitalization rates using the Mortgage Equity Technique. It performs discounted cash flow analyses. It calculates IRRs and performs yield sensitivity analyses. It prepares Income Statements, Rent Schedules, Capitalization Rate Reports, and more than 30 basic reports that you may need to support your value calculations.

Although you may never need them, over 400 reports are available to document your work. All reports are created transparently,automatically and instantly. Instead of spending a day or two or more crunching the numbers and more time creating acceptable reports, our income analysis software will cut the time drastically. There is always pressure on appraisal fees. Our software will make you more competitive and will produce much better income analyses. Your Income Approach will stand out.

Our income analysis software is the perfect software tool for appraisers. Whether you are appraising a four unit apartment, a $20,000,000 mixed use property, a motel, a strip center, or a 6 story office building.

The software will handle any type of income producing property, from small apartment buildings and small commercial buildings to large office complexes. If your work involves more complicated properties, the Pro version will handle CAM, Fixed Pass-throughs, Operating Pass-throughs, Expense Stops and detailed lease proration.

Our real estate valuation software is used by the pros - Real estate appraisers, Bankers, Assessors, and agents. Dedicated "real" software (not a series of spreadsheet templates), this real estate valuation software is designed to analyze all of the facets of a real estate investment. Don't waste your money on spreadsheet based "templates." If you are serious about your work, you need serious software to assist you. Our income analysis software is serious software that does all necessary calculations and prepares organized reports that document income, expenses, downpayments, and cash flows. These reports are easy to understand and can be "taken to the bank."

Our real estate valuation software develops the "capitalization rate" and also performs Discounted Cash Flow analysis. The cap rate is developed using an advanced derivative of the Mortgage Equity Technique. This rate is critical to a good analysis and you cannot just pull it out of thin air. The rate varies, depending upon many factors - all of which our software takes into account. These factors include the investor's required rate of return, the interest rate on a mortgage, projected growth rates in income and expenses, and more.

Our real estate valuation software enables you to easily do "what if" analysis. What if future income and expenses grow at 1%, 2%, 3% ? What if the mortgage rate is 7%, or 8%, or 9% ? What happens if real estate taxes are $10,000 per year instead of $6,500 per year? It is easy to change any assumption in the pro-forma and instantly know its effect upon value. This is critical to making good real estate investment decisions.

As our Investment Analyst logo says: "The Expert is in the Software."

Calculate Value
Calculate IRR
Extract Yield Rates
The software calculates the value, based upon the yield requirements and projections of the analyst. Financing, closing costs, selling expenses, income growth and property appreciation are among the many factors considered. Holding periods can range between 1 and 60 years. Reports can be printed, pasted or saved to an Excel spreadsheet, PDF file, or RTF file. They can be merged into a word processing document.

Extract yield rates, determine the property's value, or calculate the IRR, based upon different assumptions. the software builds a cap rate, using the Mortgage Equity Technique. It also calculates the value of the cash flows using the Discounted Cash Flow method. Sensitivity Analysis is easy and informative.

Whether you need to develop a capitalization rate, do a basic discounted cash flow analysis, or perform a complicated lease analysis, our software will help you do it quickly, professionally, and accurately. Whether it is an apartment building, office building, hotel or strip shopping center, the software will produce results that you can trust.

Easy to Use, Comprehensive, Reliable
Our clients have again and again praised both Commercial Complete and Investment Analyst for ease of use, comprehensiveness and quality.
  These characteristics did not come about by accident.  Each facet of our software has been honed, refined and polished over many years.

Investment Analyst has been around since 1987 (longer than any competitive product). Commercial Complete incorporated all of Analyst's functionality when this product was introduced in 2010. Do not be misled by the high prices and high maintenance fees of other income analysis software. Price and quality are not always synonymous.

Our products are written from "scratch" and not dependent upon spreadsheets like Excel that are designed by part-time "experts." Our software has all of the "bells and whistles," it is the easiest to use, and it produces the best analysis documentation.

Whether you are a large financial institution that needs an income analysis tool every day, a small appraisal firm that only does a few commercial properties each year, an investor who need to evaluate a potential investment, or a real estate broker who needs to prepare a comprehensive presentation, you can trust the income analysis functionality in both Commercial Complete and Investment Analyst.

Long History
Our clients have been trusting Investment Analyst for more than 20 years and the same functionality is incorporated in Commercial Complete. In the span of one week recently we heard from three clients (unsolicited). The wife of a retiring appraiser wrote us and said "I would like to thank you for your help over the years with Investment Analyst. John thinks that you are 'God' with this software." Another client called that same week for no particular reason except to thank us for offering such a "professional" product. Yet a third client who had just purchased Analyst (with some uncertainty because he was a novice with computers) wrote us to say "this software is WONDERFUL !!!!"

Who Uses Our Software
Today, our products are used by clients in all fifty states and several foreign countries. Members of all major real estate appraisal organizations use our income analysis software. So do assessors, review appraisers, government agencies (federal, state and local), financial institutions, CPAs, insurance companies, real estate agents, developers, investors and property owners.

The income analysis functionality is flexibly designed to accommodate any income producing property, including;

  • Apartment buildings
  • Office buildings
  • Shopping centers
  • Hotels, motels
  • Businesses
  • Industrial property
  • Special purpose buildings
  • Lot developments
  • Condo projects

This Software is Smart
Artificial Intelligence is incorporated into the income analysis algorithms. This means that data entry is checked for consistency and mathematical calculations are checked for accuracy - as can only be done by experienced software engineers working in conjunction with valuation experts to design and implement a stand-alone application.

Our software is smart. Not only does it check your numbers, but it knows how to print them to make the most attractive presentation. Whether your holding period is 7 years or 30 years, our software will make it look right. As we say in our Investment Analyst logo, "The Expert is in the Software."

Theory
Our programs use three different methods to calculate value.

  • An advanced derivative of the Mortgage Equity Technique that utilizes the theory of the Ellwood Method.
  • Internal Rate of Return analysis
  • Present Value analysis using the Discounted Cash Flow method

All three methods are based upon widely accepted mathematical principles that have been used to analyze income producing investments for many years. Our programs give the analyst a level of confidence and understanding that cannot be achieved using a single method.

Income Analysis Features
Mortgage Equity Analysis, Discounted Cash Flow Analysis, Yield Range Analysis

  • Stand-alone software with easy to use interface written for all Windows operating systems through Windows 8
  • Handles up to 3 loans, soft costs, selling expenses, income growth, CAM charges, pass-throughs, Load Factors (assessors)
  • Calculates IRR, Value,  Debt Coverage Ratio, Terminal Value, Expense Ratios
  • Superb, Flexible Reports. More than 30 basic reports; plus an individual report for each tenant and each expense
  • Print one report, any combination of reports, or all reports
  • Preview reports on the screen
  • Print your reports to an Excel spreadsheet or PDF file
  • Paste your reports into a word processor
  • Evaluate leasehold and leased fee interests.
  • Perform Yield Range Analysis
  • Issue commands that customize your reports.
  • Control the level of detail that is shown on each report
  • Print headers, footers and page numbers. Summarize tenants and expenses by logical groups
  • Up to 16 vacancy rates
  • Link some expenses to Gross income, other expenses to Effective Gross Income, and still other expenses on a per unit basis
  • Group income in up to 15 categories; expenses in up to 17 categories
  • Assign common area charges, fixed and operating expense pass-throughs on a per tenant basis
  • Automatically calculate lease income based upon lease dates, contract rent, escalation clauses, and sales overage clauses
  • Calculates leasing commissions and accommodates tenant improvements
  • Extract yield rates from comparable properties
  • Business Valuation: Capitalization theory spans all disciplines that involve the evaluation of cash flows that extend into the future. IRR, capitalization rates, and the concept of present value are universally applied.  Our software products allow completely flexible data entry, allowing you to define income and expenses, cash flow variability and input assumptions. Therefore, our products can be used effectively to value income streams produced by real estate, businesses, or any source.
  • Subdivision Analysis/Unit Sales feature Included in Commercial Complete Pro and Investment Analyst Pro.








Whether you are an appraiser or a broker, this software can be customized to fit your requirements



EASY TO USE
Complete help screens for each field. But the user interface is so smooth and self-explanatory that help screens and manual are almost redundant. If you know real estate you will know how to use our products. We have reduced the data entry requirements and complicated formulas needed to complete an income analysis to their essence. Mathematicians call it an elegant solution - a simple, intuitive method to solve a complex problem.
Most of our users just call it SLICK.


SPEED WHERE IT COUNTS
Today's computers are so fast that calculating numbers is immediate. What is most important, though, is how fast you get your work done. In 15 minutes with ANALYST you can get the Value, print letter quality reports, modify the numbers, print again; and do it again. Really! ANALYST makes the complicated tasks easy. Prorating leases, calculating expense stops and leasing commissions. It won't take you two hours or two days to do an income analysis and more hours to format and print the reports.

REMEMBER: Time is money


SUPERIOR TO OTHER INCOME ANALYSIS SOFTWARE, THE 12C, AND ANY SPREADSHEET
Spreadsheets dramatically changed the way we work and what our clients expect of us. The 12C gave us raw calculating power. However, both are hard to master. Both require constant use to maintain proficiency. Neither provides much in the way of printing capabilities. Neither provides internal checks that verify your calculations.

Our products are generations ahead -- the difference between a Model T and a Boeing 747. Other income analysis software focuses on the data, not the analysis. Data is certainly important; but values based upon that data are only as good as the analysis methods applied. A simple discounting of net income is insufficient and possibly incorrect.

When it comes to Income Analysis, there is no comparison.


DISCOUNTED CASH FLOW ANALYSIS

Discounting cash flows to present value is a widely accepted method of determining the value of an Investment Property. Once the cash flows are determined, it is relatively easy to do the calculations. The difficulty is in the detail. If you use a spreadsheet or complicated lease by lease program, it is difficult to enter and later verify income, expense, closing costs, etc. You will not be sure that you have the correct cash flows or value. And you will not be able to explain your results.
Our products simplify data entry and produce concise reports.


RELIABLY ACCURATE

Computers are great number crunchers. We take all of our calculations out six places. But that is not the critical measure of accuracy. Our products use three methods to check the numbers: an advanced derivative of the Ellwood method; calculation of the IRR; and calculation of the Net Present Value. Ever wondered if your calculations were correct, or if the right number was used in year 4? Worry no more.

Three independent checks. Like three experts re-calculating the numbers. That is accuracy. The way it should be done.


The MODERN WAY
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All of the above in one powerful standalone program!

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