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Sample Report · Generated Aug 24, 2026
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Sample Report Property information may be sourced from public records. Financial assumptions, projections, and returns are illustrative and may be fictional or modified. They do not represent actual property performance or investment results.

Self-Storage Underwriting Report · Generated Aug 24, 2026
Home / Property / Report / 1250 Custer Ave SE
Self Storage Class B - GOOD Hold

1250 Custer Ave SE, Atlanta, GA 30316

A 267-unit self storage facility in the Atlanta submarket, underwritten over a 5-year hold with full pro forma and syndication waterfall.

Base Case
Purchase Price
$3,750,000
$14,045 / unit
Equity Required
$1,572,500
30% down + closing
Loan Amount
$2,625,000
70% LTV at 6.9%
Year 1 NOI
$280,223
↓ 7.47% cap rate
DSCR
1.35×
Meets default DSCR target (1.25×)
IRR
10.08%
Project-level, 5-yr hold
Property-Level Equity Multiple
1.56×
Total cash returned / invested
Cash-on-Cash
4.08%
Year 1, after fees

01 Asset Profile

Physical attributes & submarket positioning
Atlanta 267 Units 3.00 ac
Property
1250 Custer Ave SE
Atlanta, GA 30316 · Built 1998
Asset Class Self Storage · B - GOOD
Acreage 3.00 acres
Storage Units 267
In-Place Occupancy 82% Lease-Up
Year Built 1998
Driveway Asphalt

Unit Mix & Rent Roll

Storage unit types · In-place vs market rent
Unit Type Size (W×D) Units Vacant In-Place Rent Market Rent Annual Income
5x5 Climate Control 5 × 5 45 6 $55 $65 $29,700
5x10 Climate Control 5 × 10 80 11 $85 $95 $81,600
10x10 Inside Access 10 × 10 95 13 $125 $140 $142,500
10x15 Inside Access 10 × 15 55 8 $165 $185 $108,900
10x20 Drive Up Access 10 × 20 35 5 $220 $245 $92,400
Total 310 $455,100

Key Operating Ratios

Year One · Stabilized
Internal Rate of Return
10.08%
Unlevered, 5-yr hold
Property-Level Equity Multiple
1.56×
Above target
Cap Rate (Going-In)
7.47%
Above market
Gross Rent Multiplier
10.05×
vs. market 8–12×
Net Income Multiplier
13.38×
Healthy NOI
Debt Yield
10.68%
Meets lender floor · NOI ÷ original loan
Expense Ratio
34.4%
Below market avg
Cash-on-Cash
4.08%
Below 6% target
Operating vs Lender Basis
MetricOperating BasisLender Basis
NOI $280,223 $265,479
DSCR 1.35× 1.28×
Debt Yield 10.68% 10.11%
Lender basis nets management fee and replacement reserves when those reserves are modeled below NOI.

02 Underwriting Snapshot

Sources, uses & Year-1 cash flow
Year One Operating Statement
Line ItemMonthlyAnnual
Rental Income $31,099 $373,182
Other Income $4,500 $54,000
Gross Operating Income $35,599 $427,182
Capital Reserve $517 $6,200
Operating Expenses $12,247 $146,959
Capital Expenditure $17,500 $210,000
Net Operating Income $23,352 $280,223
Operating Expenses$146,959
Expense Rows$146,959
Asset Management Fee (below NOI)$8,544
Operating Expenses equal the expense rows; the Asset Management Fee is excluded from NOI and deducted below NOI.
Capital Stack
SourceShareAmount
Acquisition Loan 70% LTV 62.5% $2,625,000
LP Equity 1 investor 37.5% $1,572,500
Total Sources 100% $4,197,500
Purchase Price 89.3% $3,750,000
Closing Costs 2.7% $112,500
Acquisition Fee 1.8% $75,000
Non-Financed CapEx 5.0% $210,000
Closing Reserves 1.2% $50,000
Total Uses 100% $4,197,500
Total CapEx$210,000
Financed CapEx$0
Non-Financed CapEx$210,000
Financed CapEx flows into the loan basis. Non-Financed CapEx is paid as upfront cash.
Interest Rate Fixed
6.9%
Spread est. over 10Y UST
Annual Debt Service
$207,459
$17,288 / month · 30-yr amort
Coverage Ratio
1.35×
Meets default DSCR target (1.25×)

03 Pro Forma Projection

5-year cash flow model with exit analysis
Year 5 NOI
$311,804
+11.3% growth
Year 5 Value
$4,619,323
at 6.75% exit cap on sale-year NOI
Cumulative CF
$441,513
Over 5-yr hold
Proceeds at Sale
$531,346
Net of cost & loan
Return on Equity
4.9%
Total over hold
Break-even Cap
8.00%
Required at exit
Income & Expense In-PlaceYear 1Year 2Year 3Year 4Exit Year 5
Gross Potential Rent $455,100$455,100$468,753$482,816$497,300$512,219
Vacancy Loss Stabilized 18%
In-Place from current occupancy; Yr 1+ stabilized		 -$81,918-$81,918-$84,376-$86,907-$89,514-$92,199
Concessions $0$0$0$0$0$0
Effective Rental Income $373,182$373,182$384,377$395,909$407,786$420,020
Other Income $54,000$54,000$54,000$54,000$54,000$54,000
Gross Operating Income $427,182$427,182$438,377$449,909$461,786$474,020
Operating Expenses -$146,959-$146,959-$150,633-$154,399-$158,259-$162,215
Net Operating Income $280,223$280,223$287,744$295,510$303,527$311,804
Debt Service -$207,459-$207,459-$207,459-$207,459-$207,459-$207,459
Levered Cash Flow Before Asset Management Fee $72,764$72,764$80,285$88,051$96,068$104,345
Asset Management Fee -$8,544-$8,544-$8,768-$8,998-$9,236-$9,480
Cash Flow After Asset Management Fee $64,220$64,220$71,517$79,053$86,832$94,865
Cap Rate at Exit —————6.75%
Sale Proceeds (Net) —————$531,346
Capex Draw Schedule Total Capex Budget $210,000
Timing view of the existing Capital Expenditure budget — from engine output.
Metric Acquisition / Year 0 EOY 1EOY 2EOY 3EOY 4EOY 5
Annual Capex Draw $210,000 $0$0$0$0$0
Cumulative Capex Drawn $210,000 $210,000$210,000$210,000$210,000$210,000
Remaining Capex Budget $0 $0$0$0$0$0
Capital Reserves are modeled separately. Capex draws are timing visibility only and are not deducted again from annual cash flow.
NOI & Cash Flow Trajectory
Annual through hold period
NOI Cash Flow (before mgmt fee)
Loan Balance vs Market Value
Equity build-up over time
Loan Value

04 Syndication Analysis

LP / GP economics, waterfall & investor returns
LP Equity
$1,572,500
1 investor · avg $1,573k
Preferred Return
8.0%
Cumulative · non-compounding
Promote / Carry
80/20
Residual split above pref
Projected LP IRR
4.90%
5-yr fully diluted
Projected LP MOIC
0.14×
Below pref threshold

04.1 Distribution Waterfall

I
Return of Capital
100% to LPs until original $1,572,500 equity returned
100% / 0%
II
Preferred Return
8.0% pref to LPs · cumulative non-compounding
100% / 0%
III
Promote Split
Residual proceeds above preferred return split 80/20 LP/GP (no separate GP catch-up tier)
80% / 20%
Projected Total Distributions · $387,860
LP · 55%
GP · 14%
Fees
LP $214k GP $54k Fees $120k

04.2 LP / GP Return Profile

Return MetricLPGP
Capital Invested$1,572,500$0
Preferred Return Earned$183,820—
Cash Distributions (5yr)$214,267$53,567
Sale Proceeds$425,077$106,269
Asset Mgmt Fees—$120,025
Total Distributions $823,165 $279,862
IRR4.90%N/A
Equity Multiple0.14×N/A
Net Profit / (Loss) -$749,335 +$279,862
GP Capital Invested reflects actual GP co-investment only — the promote/carry is the GP's share of residual profit above the preferred return, not a capital contribution, so it is shown as $0 when the GP invests no capital (GP return then reads N/A).
!
Investor Alert
Projected LP returns fall $749,335 (48%) below original capital and do not meet the 8.0% preferred return threshold over the 5-yr hold.
LP Distribution Schedule
Cumulative LP cash returned over hold period
Annual Distribution Cumulative Returned Capital Invested

05 Deal Score

Composite of computed dimensions only · not-yet-modeled dimensions are shown but carry no weight
DealWorthIt Score
65/100
Hold · Within Tolerance
0 · Pass50 · Hold100 · Buy
Return Profile 73
Capital Structure 65
Rent Growth Outlook 75
Exit Liquidity 19
Market & Submarket Not scored
Walkability / Access Not scored
Demographics Not scored
Sponsor Quality Not scored

06 Market Context

Submarket rents & accessibility
Average Rent · by Unit Type
In-place vs market rent from the scenario's unit mix, $/mo
Market In-Place
Walk Score Composite
1250 Custer Ave SE
Live Walk Score® data for this address — shown on the web report only (interactive tile, not captured into the PDF).
Submarket IndicatorSubjectvs. Market
Avg Rent / Unit $116 −15%
Going-In Cap Rate 7.47% +2.5 pts
Stabilized Vacancy Assumption 18% +13.0 pts
Rent Growth Outlook 3% +0.0 pts

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Methodology

Pro forma assumes 3% annual rent growth, 2.5% expense inflation, and a 6.75% exit cap. Sale price is based on sale-year (trailing) NOI ÷ exit cap (not next-year forward NOI). Waterfall modeled with a 8.0% LP preferred return and 20% GP promote above pref. Preferred return is modeled as simple/non-compounding. Sale proceeds are net of estimated 2% transaction costs. Property taxes use the current-tax basis (seller's current taxes inflated with other expenses; no reassessment). Projection vacancy uses the separate projection vacancy assumption.

Reserves — replacement reserves use the Below NOI / Cash Flow Only treatment.

Lease-up — No lease-up ramp is modeled; projections assume stabilized income from Year 1.

Expense growth — All expense lines inflate at the single global expense inflation rate.

Report Metadata
Report IDDWI-AC268FE4D991
Version4.2
GeneratedAug 24, 2026 · 11:10
SponsorDealWorthIt

This report is generated by DealWorthIt for informational purposes only and does not constitute investment advice, an offer, or solicitation. The figures and projections presented are based on the inputs supplied by the user and assumptions provided by the platform; actual results will differ. Past performance is not indicative of future results. Investors should perform their own due diligence and consult licensed legal, tax, and financial advisors prior to making any investment decision.

Sample Report · Illustrative Data Only