5-Year STR Pro Forma Builder — Airbnb IRR + Equity Multiple Calculator — Real Estate Investment Excel

Five years out. Three scenarios. Sign the offer. 5-year property-level pro forma for Airbnb / STR investors with IRR, equity multiple, and exit value across conservative / base / aggressive cases. Excel + Google Sheets.

The 1-year deal analyzer tells you whether the property cash-flows. The 5-year
pro forma tells you whether the property makes you wealthy. They answer different
questions — and serious operators run both before writing any offer.

This is the long-horizon view: revenue growth, expense inflation, debt amortization
year-by-year, depreciation, exit value at year 5. Outputs IRR, equity multiple,
and cumulative cash flow across three scenarios so you know what range of outcomes
the deal can produce — not just a single number.

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WHAT'S INCLUDED
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📋 Property + Acquisition
· Purchase price, closing costs, rehab, total cash invested
· Acquisition basis tracking (feeds depreciation)

📋 Year-1 Inputs
· Stabilized year-1 revenue + expenses (typically pulled from ACQ-001)

📋 Growth Assumptions
· Annual revenue growth %, expense inflation %, market appreciation %
· Pre-loaded with reasonable defaults (3-5% revenue, 3% expense)

📋 Financing
· Loan terms, interest rate, amortization schedule (auto-builds 5-year debt service)

📋 5-Year Pro Forma Matrix
· Revenue, expenses, debt service, depreciation, cash flow per year
· Cumulative cash flow + payback timing

📋 Exit Assumptions
· Year-5 sale price (cap rate × stabilized NOI, OR % appreciation from purchase)
· Selling costs, capital gains tax estimate, depreciation recapture

📋 Three-Scenario Output (Conservative / Base / Aggressive)
· IRR per scenario
· Equity multiple per scenario
· Total return per scenario

📋 Pro Forma Summary Print
· Send to your DSCR / commercial lender — IRR + EM is their language
· Save in deal folder as the basis for measuring actual-vs-projected

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WHO THIS IS FOR
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· Serious STR investors writing offers (not "thinking about" buying)
· Buyers using DSCR / commercial loans — your lender will ask for this
· Operators evaluating a 5-year hold + sale vs. cash-flow-only operators
· Anyone choosing between two deals where one cash-flows now and one builds equity faster

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HOW IT WORKS
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1. Open the workbook AFTER you've run year-1 underwriting (ACQ-001).
2. Plug in growth assumptions. Pre-loaded defaults are reasonable starting points.
3. Set financing (auto-amortizes), exit assumptions.
4. Read the IRR + EM strip. Validate against your investment thresholds.
5. Run the three-scenario sensitivity. If Conservative IRR < 8%, you don't have margin.

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INVESTMENT TARGETS (FOR REFERENCE)
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· STR target IRR: 15-25% over 5 years
· STR target equity multiple: 2.0-3.5×
· Below 12% IRR is mediocre; above 30% means assumptions are aggressive
· Conservative scenario should still clear your minimum IRR threshold

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FILE COMPATIBILITY
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✅ Microsoft Excel 2016+ (Windows and Mac) · ✅ Excel 365 · ✅ Google Sheets

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REFUNDS + SUPPORT
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14-day refund, no questions asked. Email hello [!at] thestrledger.com.

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⚠ Digital product. Not investment advice. Run your own assumptions; long-horizon projections always carry uncertainty.