From rent roll to IRR in minutes.

Underwriting software replaces the spreadsheet model used to evaluate a property acquisition. Nivora takes the documents you already have (a rent roll and a trailing-twelve-month operating statement) and produces the full institutional analysis: pro forma cash flows, IRR, equity multiple, DSCR, and the LP/GP distribution waterfall, with every calculation tested and every change audited.

An Excel model is a template you maintain: columns to re-map for every property-management export, formulas only as trustworthy as the last person who edited them, and no record of what changed. Nivora is a maintained engine: imports auto-map and reconcile against the statement's own totals, the math is locked behind 300+ automated invariants, and the audit trail records every assumption change.

CSV and Excel exports from AppFolio, Yardi, RealPage, Entrata, and most property-management systems — including multi-sheet workbooks, charge-per-row rent rolls, and statements with capex below the NOI line. Columns and GL accounts your team confirms once are remembered for your whole organization.

Yes: preferred equity (with current-pay and accrued carry), LP preferred return, and multi-tier GP promotes with IRR hurdles. Distributions are reconciled against levered cash flow on every run, and sponsor economics are automatically excluded from lender-facing exports.

Yes, where it saves real hours: drop in a broker offering memorandum and AI extracts the asking price, unit count, taxes, and other assumptions, each traced back to the page it came from, so you can verify the source in one click; import assist suggests column and GL mappings when a file is ambiguous; a second-analyst Deal Review checks your underwriting against the deal's own OM and T-12; and one click drafts an investor-ready summary or IC narrative from your modeled deal. Every AI-extracted value is shown for your approval before it enters the model, returns are always computed by the tested engine and never by the AI, and your documents are never used to train models.

Minutes from upload to a full pro forma: columns auto-map, totals reconcile against the statement, and the engine runs the moment your files land. You can feel the speed before requesting access: the live sample deal runs the real engine in your browser, no login, and re-prices the whole model as you drag the assumptions.

No. Nivora replaces the modeling and keeps the deliverable: export investor-, lender-, and internal-formatted Excel workbooks per audience, with sponsor economics automatically excluded from the lender version. Teams that need it can export a live-formula workbook where every number is a native Excel formula you can trace and change, and a two-way Excel add-in keeps a sheet and the platform in sync. Many teams run their first deal in Nivora alongside their existing model to check it line for line.

Nivora is $79/month (or $790/year) for a single underwriter, with a 30-day free trial that needs no credit card; teams that need more seats can talk to us. See the pricing page for what's included. We onboard teams deliberately, so today you request access and we set up your organization and start your trial.

Multifamily and residential rental are generally available today. Commercial and mixed-use underwriting (commercial rent rolls, rollover and WALT, component exit caps) is built on the same engine and available for institutional teams; contact us to enable it for your organization.

Every account uses two-factor authentication, organizations are fully isolated from each other at the database layer, data is encrypted in transit and at rest, and every change to every deal is recorded in an immutable audit log.