One-Page Rental Underwriting Worksheet (Long-Term Tenants)

Guided by the Gulf. Grounded by Integrity — Meredith Folger Amon, Gulf Coast Expert Real Estate Advisor — Guided by the Gulf. Grounded by Integrity.

I use this one-page worksheet to compare properties quickly and consistently. Copy/paste into a notes app, Google Doc, or your CMS, then fill it out property-by-property. For Gulf Coast inventory and research, I start here: www.searchthegulf.com.

Underwrite the rent conservatively, assume insurance rises, and budget repairs you have not found yet. If it still works on paper, it is worth a closer look.

Property Snapshot

Address / MLS

Type

Beds / Baths

Sq Ft / Lot

Year Built

Asking Price

Target Tenant Profile

```

Quick Risk Flags

Flood Zone

Wind/Storm Exposure Notes

HOA/COA Rules (if any)

Zoning

Legal Conforming Use

Parking Adequacy

Red Flags Noted

```

Rent Scenarios

Best-Case Monthly Rent

Likely Monthly Rent

Worst-Case Monthly Rent

Days-to-Lease (typical)

Comparable Rentals Used

Concessions Needed

```

Utilities and Metering

Electric

Water / Sewer (or Septic)

Gas / Propane (if any)

Trash

Internet Options

Individually Metered

Owner-Paid Utilities

```

Condition and Major Systems

Roof Age

HVAC Age

Water Heater Age

Plumbing Type

Electrical Panel / Amps

Foundation Notes

Immediate Repairs Needed

12–24 Month Repairs to Budget

Insurance and Flood Notes

Hazard Insurance (annual)

Wind (annual, if separate)

Flood (annual, if applicable)

Deductibles (wind/flood)

Claims History Known

Drainage / Elevation Notes

```

Neighborhood Demand

Overall Feel / Curb Appeal

Vacancy Level (low/med/high)

Tenant Competition (new rentals nearby)

Nearby Shops / Restaurants / Parks

Commute / Access to Employment

Why Tenants Choose This Area

```

Income to Underwrite (Annual)

Gross Scheduled Rent (GSR)

Vacancy Assumption (% and $)

Effective Gross Income (EGI)

Other Income (laundry, storage, etc.)

```

Operating Expenses (Annual)

Property Taxes

Insurance Total

HOA/COA (if any)

Repairs + Maintenance

Pest / Lawn (if owner-paid)

Property Management (if any)

Reserves for Replacements

Utilities (if owner-paid)

```

Cap Rate and Cash Flow Math

NOI = EGI – OpEx

Cap Rate = NOI ÷ Price

Break-Even Occupancy

Loan Amount

Rate / Term

Annual Debt Service

DSCR = NOI ÷ Debt Service

Annual Cash Flow (pre-tax)

Cash-on-Cash = Cash Flow ÷ Cash In

Resale and Exit Strategy

Resale Strength (buyer pool)

Comparable Sales Used

Hold vs. Sell Trigger

Liquidity Notes (DOM, demand)

```

Due Diligence Requests

Leases + Rent Ledger + Deposits

Permits / Warranties / Invoices

HOA Docs + Rules + Assessments

Insurance Quotes + Claims (if available)

Survey (if available)

```

Decision

Score (1–10)

Top 3 Strengths

Top 3 Risks

Next Step (tour, quote insurance, verify rent roll, negotiate, pass)

Back to TopBlog endings Contact Meredith Amon Gulf Coast Realtor  #searchthegulf #meredithfolger #becausewelivehere      

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