{"$defs":{"UnitTypeInput":{"properties":{"label":{"description":"Unit type label e.g. 'Studio', '1BR', '2BR', '3BR', 'Penthouse'","title":"Label","type":"string"},"count":{"description":"Number of units of this type","exclusiveMinimum":0,"title":"Count","type":"integer"},"monthly_rent":{"description":"Market rent per unit per month ($)","exclusiveMinimum":0,"title":"Monthly Rent","type":"number"}},"required":["label","count","monthly_rent"],"title":"UnitTypeInput","type":"object"}},"example":{"address":"400 Riverside Drive, Charlotte, NC 28209","annual_loan_rate":0.065,"avg_annual_appreciation":0.03,"avg_annual_growth":0.03,"buy_closing_pct":0.015,"exit_cap_rate":0.06,"expense_ratio":0.38,"hold_years":7,"interest_only_years":0,"loan_term_years":30,"ltv":0.75,"other_income_pct":0.04,"purchase_price":5700000,"sell_closing_pct":0.03,"start_date":"2025-01-01","unit_types":[{"count":8,"label":"Studio","monthly_rent":1200},{"count":16,"label":"1BR","monthly_rent":1550},{"count":8,"label":"2BR","monthly_rent":1950}],"vacancy_rate":0.05},"properties":{"address":{"description":"Property address","title":"Address","type":"string"},"start_date":{"default":"2025-01-01","description":"Acquisition closing date YYYY-MM-DD. Used for XIRR date calculations.","title":"Start Date","type":"string"},"purchase_price":{"description":"Acquisition price ($)","exclusiveMinimum":0,"title":"Purchase Price","type":"number"},"unit_types":{"description":"Up to 5 unit types describing the property's unit mix. Each type takes a label, count, and monthly market rent. Examples: Studio/1BR/2BR/3BR/Penthouse or Unit A/Unit B. Total units = sum of all counts.","items":{"$ref":"#/$defs/UnitTypeInput"},"maxItems":5,"minItems":1,"title":"Unit Types","type":"array"},"vacancy_rate":{"default":0.05,"description":"Portfolio-wide vacancy rate as % of Gross Potential Rent (GPR). Default 5%.","maximum":0.5,"minimum":0,"title":"Vacancy Rate","type":"number"},"other_income_pct":{"default":0.04,"description":"Other income as % of Effective Gross Income (EGI) — parking, laundry, pet fees, storage. Applied to EGI since these income streams are occupancy-driven. Default 4%.","maximum":0.2,"minimum":0,"title":"Other Income Pct","type":"number"},"expense_ratio":{"default":0.38,"description":"Operating expense ratio as % of Gross Potential Rent (GPR). Applied to GPR since taxes, insurance, maintenance, and reserves are fixed costs that do not fluctuate with vacancy. Includes property management, maintenance, insurance, taxes, and replacement reserves. Typical range: 30-45%. Default 38%.","maximum":0.7,"minimum":0.1,"title":"Expense Ratio","type":"number"},"avg_annual_growth":{"default":0.03,"description":"Average annual growth rate applied to rents and expenses. Default 3%.","maximum":0.2,"minimum":0,"title":"Avg Annual Growth","type":"number"},"avg_annual_appreciation":{"default":0.03,"description":"Average annual property appreciation rate. Default 3%.","maximum":0.2,"minimum":0,"title":"Avg Annual Appreciation","type":"number"},"ltv":{"default":0.75,"description":"Loan-to-value ratio. Default 75%.","exclusiveMaximum":1,"exclusiveMinimum":0,"title":"Ltv","type":"number"},"annual_loan_rate":{"default":0.065,"description":"Annual mortgage interest rate. Default 6.50%.","exclusiveMaximum":0.2,"exclusiveMinimum":0,"title":"Annual Loan Rate","type":"number"},"loan_term_years":{"default":30,"description":"Loan term in years. Default 30.","maximum":35,"minimum":5,"title":"Loan Term Years","type":"integer"},"interest_only_years":{"default":0,"description":"Interest-only period in years before amortization begins. Default 0.","maximum":10,"minimum":0,"title":"Interest Only Years","type":"integer"},"hold_years":{"default":7,"description":"Investment hold period in years. Default 7.","maximum":30,"minimum":1,"title":"Hold Years","type":"integer"},"exit_cap_rate":{"default":0.06,"description":"Exit capitalization rate applied to exit year NOI to derive exit value. Default 6.00%.","exclusiveMaximum":0.2,"exclusiveMinimum":0,"title":"Exit Cap Rate","type":"number"},"sell_closing_pct":{"default":0.03,"description":"Seller closing costs as % of exit value. Default 3%.","maximum":0.1,"minimum":0,"title":"Sell Closing Pct","type":"number"},"buy_closing_pct":{"default":0.015,"description":"Buyer closing costs as % of purchase price. Default 1.5%.","maximum":0.05,"minimum":0,"title":"Buy Closing Pct","type":"number"}},"required":["address","purchase_price","unit_types"],"title":"MultifamilyRequest","type":"object"}