STR Portfolio Valuation Model – Cap Rate, Comp Sales, GRM Calculator (Excel/Sheets)

Three valuation methods. Total equity. What a buyer would actually pay. Portfolio valuation model for Airbnb / STR investors. Cap rate × NOI, comparable sales, gross rent multiplier. Excel + Google Sheets.

How much is your STR portfolio actually worth? Most hosts know what they paid.
Few know what it's worth today. Even fewer know what a sophisticated investor
(not a retail homebuyer) would actually pay if you put it on the market.

This workbook computes current market value using 3 methods — cap rate × NOI,
comparable-sales (per BR/BA), gross rent multiplier — and outputs a mid-point
estimate, a conservative estimate (use this for refi LTV math), and a buyer's-
perspective price for sale conversations.

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WHAT'S INCLUDED
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📋 Property Roster — every property with purchase, basis, current debt
📋 NOI Inputs — stabilized NOI per property (pull from TAX-002)
📋 Cap Rate Method — cap rate × NOI per market
📋 Comparable Sales Method — recent comps by BR/BA, $/sqft or $/bed
📋 Gross Rent Multiplier Method — GRM × annual gross rent
📋 Three-Method Compare — independent estimates per property
📋 Mid-Point Valuation — average of the three (most defensible)
📋 Conservative Valuation — lowest of three (use for refi LTV math)
📋 Total Portfolio Equity — sum of (mid-point − current debt)
📋 Debt-to-Value Ratio — portfolio leverage health check
📋 Buyer's-Perspective Price — what an investor would pay (vs retail homebuyer)

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WHEN TO RUN
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· Annually as part of year-end review
· Before any refinance (know your cash-out potential)
· Before any sale conversation
· When the market shifts (rate cut, regulation, demand spike)

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COMMON SURPRISES
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· Debt-to-value <50% → significant equity locked. Refi to recycle capital.
· Debt-to-value >80% → over-leveraged, vulnerable to softening
· Single property valued 30%+ above the rest → "winner" worth concentrating on, OR ready to 1031 into multiple smaller

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WHO THIS IS FOR
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· STR investors with 2+ properties
· Operators considering a refi or sale
· Anyone whose CPA / lender asked "what's your portfolio worth today?"

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FILE COMPATIBILITY
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✅ Excel 2016+ · ✅ Excel 365 · ✅ Google Sheets

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

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⚠ Digital product. Not appraisal-grade. Comp data + cap rates are market estimates — actual sale price varies.