DCF: cash flows, terminal value, DCF value

The annual cash flow table (GPR to net cash flow, discount factor, present value), the terminal value and the DCF value.

GET

https://revenoo.aireon.ch/api/valuation/{egrid}/dcf

Path parameters

egrid
string
required
Swiss parcel identifier: "CH" followed by 12 characters. Spaces are ignored, letters may be lower case.

pattern: ^[Cc][Hh][0-9A-Za-z]{12}$

Returns

200

DCF: cash flows, terminal value, DCF value

JSON

api_version
string
required
valuation_date
string
required
format: date
parcel
object
required
The parcel: EGRID, address, municipality, BFS number, canton, zone, coordinates and areas.
data
object
required
Provenance: market data status and date, municipal and Zürich reference rents.
links
object
required
app opens this valuation in revenoo; docs is this document.
assumptions
object
required
Assumptions you can change. Omitted keys keep the defaults the response reports.
- asking_land_price
  optional
  number | null
  Asking price of the land. When set, the response appraises it: project IRR, profit on cost and on value, initial yield on cost.
  
  maximum: 100000000000 · minimum: 0
- rentable_area_m2
  optional
  number
  Rentable area (NIA) in m². The unit mix is rescaled to it.
  
  maximum: 10000000 · minimum: 1
- residential_rent_per_m2_year
  optional
  number
  Rent per m² NIA and year for every apartment row of the unit mix (parking keeps its own rent).
  
  maximum: 5000 · minimum: 0
- vacancy_pct
  optional
  number
  Stabilized vacancy, in percent of GPR, applied to every row of the unit mix.
  
  maximum: 100 · minimum: 0
- discount_rate_real_pct
  optional
  number
  Real discount rate in percent. Setting it enters the macro rate at this value and resets the premiums to zero; premium assumptions sent with it add to it.
  
  maximum: 30 · minimum: 0
- macro_premium_pct
  optional
  number
  Macro premium added to the macro rate, in percent.
  
  maximum: 10 · minimum: -10
- micro_rating
  optional
  good
  or
  average
  or
  weak
  Micro location grade, which sets the micro premium.
- micro_premium_bp
  optional
  number | null
  Micro premium in basis points; replaces the micro rating while set (e.g. from proove). null returns to the rating.
  
  maximum: 500 · minimum: -500
- usage_rating
  optional
  residential
  or
  office
  or
  retail
  or
  commercial
  Use of the property, which sets the usage premium.
- condition_rating
  optional
  new
  or
  like_new
  or
  normal_condition
  or
  minor_renovation_needed
  or
  major_renovation_needed
  Condition of the building, which sets the condition premium.
- special_premium_pct
  optional
  number
  Special premium for risks no other factor covers, in percent.
  
  maximum: 10 · minimum: -10
- inflation_pct
  optional
  number
  Expected inflation in percent; real rate plus inflation gives the nominal rate, shown for reference (the cash flows are real).
  
  maximum: 20 · minimum: -5
- forecast_years
  optional
  integer
  Explicit forecast period in years (RICS §4.65: markets often default to about ten).
  
  maximum: 50 · minimum: 1
- rent_growth_real_pct
  optional
  number
  Real rent growth per year, in percent. Must stay below the real discount rate.
  
  maximum: 10 · minimum: -10
- discount_timing
  optional
  mid_year
  or
  end_year
  Discount each year from its middle or its end.
- exit_cap_rate_pct
  optional
  number | null
  Exit capitalization rate in percent. null lets it follow the discount rate (RICS §4.59 with no real growth).
  
  maximum: 30 · minimum: 0.1
- exit_sale_costs_pct
  optional
  number
  Sale costs deducted from the terminal value, in percent (RICS §4.63).
  
  maximum: 20 · minimum: 0
- lease_up
  optional
  boolean
  Model a lease-up: occupancy rises from the initial level to stabilized over the lease-up months.
- initial_occupancy_pct
  optional
  number
  Occupancy at the start of the lease-up, in percent.
  
  maximum: 100 · minimum: 0
- lease_up_months
  optional
  integer
  Months until stabilized occupancy.
  
  maximum: 60 · minimum: 0
- cap_rate_pct
  optional
  number
  Capitalization rate in percent: direct cap value = stabilized NOI ÷ cap rate.
  
  maximum: 30 · minimum: 0.1
- noi_convention
  optional
  after_capex
  or
  before_capex
  or
  custom_factor
  Which NOI is capitalized.
- gdv_source
  optional
  dcf
  or
  direct_cap
  or
  manual
  Where the gross development value (GDV) comes from.
- gdv_manual
  optional
  number
  GDV amount when gdv_source is manual.
  
  maximum: 100000000000 · minimum: 0
- construction_cost_per_m2_nia
  optional
  number
  Construction costs per m² NIA.
  
  maximum: 50000 · minimum: 0
- professional_fees_pct
  optional
  number
  Professional fees, in percent of construction costs (RICS B1.2.6).
  
  maximum: 50 · minimum: 0
- contingency_pct
  optional
  number
  Contingency, in percent of construction costs (RICS B1.2.5).
  
  maximum: 50 · minimum: 0
- sale_costs_pct
  optional
  number
  Sale costs, in percent of GDV (GDV less sale costs is the NDV).
  
  maximum: 20 · minimum: 0
- site_acquisition_costs_pct
  optional
  number
  Site acquisition costs, in percent of the land price (RICS B1.2.2).
  
  maximum: 20 · minimum: 0
- development_period_months
  optional
  integer
  Development period from land purchase to completion, in months.
  
  maximum: 240 · minimum: 1
- target_irr_pct
  optional
  number
  Target rate of return of the DCF application: a project IRR before finance, real (RICS §6.2.4, §7.2.4).
  
  maximum: 100 · minimum: 0
- finance_rate_pct
  optional
  number
  Cost of finance per year, on 100% of land and building costs (RICS B2.2.2).
  
  maximum: 30 · minimum: 0
- developers_profit_pct
  optional
  number
  Developer's profit, in percent of GDV (RICS B2.2.3).
  
  maximum: 100 · minimum: 0
- target_yield_on_cost_pct
  optional
  number
  Target initial yield on cost: annual income over total development cost, in percent (RICS B2.2.3.4).
  
  maximum: 50 · minimum: 0.1
- yield_on_cost_basis
  optional
  gross_rent
  or
  noi_before_capex
  or
  noi_after_capex
  The annual income the yield on cost is read on: GPR, or NOI before or after the capex reserve.
}

400

Invalid EGRID or assumptions. details lists each invalid assumption.

JSON

error
string
required
details
optional
unknown
For invalid assumptions: one { key, message } per problem.

404

No parcel with this EGRID, or an unknown part.

JSON

error
string
required
details
optional
unknown
For invalid assumptions: one { key, message } per problem.

429

Too many uncached requests from this client; retry after the Retry-After seconds.

JSON

error
string
required
details
optional
unknown
For invalid assumptions: one { key, message } per problem.

502

The data service (RES) failed.

JSON

error
string
required
details
optional
unknown
For invalid assumptions: one { key, message } per problem.

503

The data service is not configured.

JSON

error
string
required
details
optional
unknown
For invalid assumptions: one { key, message } per problem.