Two-way sensitivity grids

Seven 5×5 grids: DCF (rent × discount rate, rent × exit cap rate), direct cap (NOI factor × cap rate) and the land values (target yield, target rate, period, construction costs, GDV).

GET

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

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

Two-way sensitivity grids

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.

{ "api_version": "2.0.0", "valuation_date": "2026-11-03", "parcel": { "egrid": "CH427777450687", "address": "Hausmattweg 1", "zip": "4663", "municipality": "Aarburg", "bfs_number": 4271, "canton": "AG", "zone": "Wohnzone W3", "lat": 47.322534, "lng": 7.898823, "land_area_m2": 2276, "buildable_gfa_m2": 1707, "rentable_area_m2": 1366 }, "data": { "market_data": "missing", "market_data_date": null, "municipality_rent_per_m2_year": null, "zurich_reference_rent_per_m2_year": null }, "links": { "app": "https://revenoo.aireon.ch/?lat=47.322534&lng=7.898823&parcel_id=CH427777450687", "docs": "https://revenoo.aireon.ch/api/openapi.json" }, "sensitivity": { "dcf_rent_vs_discount_rate": { "rows": "rent_change_pct", "columns": "discount_rate_pct", "row_values": [ -10, -5, 0, 5, 10 ], "column_values": [ 1.5, 1.8, 2.1, 2.4, 2.7 ], "cells": [ [ 20559545, 17211145, 14818469, 13023133, 11626035 ], [ 21701742, 18167320, 15641717, 13746641, 12271926 ], [ 22843939, 19123494, 16464966, 14470148, 12917817 ], [ 23986136, 20079669, 17288214, 15193655, 13563708 ], [ 25128333, 21035844, 18111462, 15917163, 14209599 ] ], "current": { "row": 2, "column": 2 } }, "dcf_rent_vs_exit_cap_rate": { "rows": "rent_change_pct", "columns": "exit_cap_rate_pct", "row_values": [ -10, -5, 0, 5, 10 ], "column_values": [ 1.5, 1.8, 2.1, 2.4, 2.7 ], "cells": [ [ 19476597, 16759356, 14818469, 13362804, 12230620 ], [ 20558630, 17690431, 15641717, 14105182, 12910099 ], [ 21640663, 18621506, 16464966, 14847560, 13589578 ], [ 22722696, 19552582, 17288214, 15589938, 14269057 ], [ 23804730, 20483657, 18111462, 16332316, 14948536 ] ], "current": { "row": 2, "column": 2 } }, "direct_cap_noi_factor_vs_cap_rate": { "rows": "noi_factor_pct", "columns": "cap_rate_pct", "row_values": [ 67.79, 70.79, 73.79, 76.79, 79.79 ], "column_values": [ 2.35, 2.65, 2.95, 3.25, 3.55 ], "cells": [ [ 13343194, 11832644, 10629324, 9648156, 8832819 ], [ 13933688, 12356289, 11099718, 10075128, 9223709 ], [ 14524182, 12879935, 11570111, 10502101, 9614599 ], [ 15114676, 13403581, 12040505, 10929073, 10005490 ], [ 15705170, 13927226, 12510898, 11356046, 10396380 ] ], "current": { "row": 2, "column": 2 } }, "land_value_yield_on_cost": { "rows": "target_yield_on_cost_pct", "columns": "construction_cost_per_m2_nia", "row_values": [ 4, 4.5, 5, 5.5, 6 ], "column_values": [ 3600, 3800, 4000, 4200, 4400 ], "cells": [ [ 5164201, 4861436, 4558671, 4255906, 3953141 ], [ 3982626, 3679861, 3377096, 3074331, 2771567 ], [ 3037366, 2734601, 2431836, 2129072, 1826307 ], [ 2263972, 1961207, 1658442, 1355677, 1052912 ], [ 1619476, 1316712, 1013947, 711182, 408417 ] ], "current": { "row": 2, "column": 2 } }, "land_value_dcf_rate_vs_construction_cost": { "rows": "target_rate_of_return_pct", "columns": "construction_cost_per_m2_nia", "row_values": [ 10, 12.5, 15, 20, 25 ], "column_values": [ 3600, 3800, 4000, 4200, 4400 ], "cells": [ [ 7899331, 7615404, 7331478, 7047551, 6763624 ], [ 7437124, 7159285, 6881447, 6603609, 6325771 ], [ 7006325, 6734271, 6462216, 6190162, 5918108 ], [ 6228393, 5967080, 5705767, 5444454, 5183142 ], [ 5547050, 5295500, 5043949, 4792399, 4540849 ] ], "current": { "row": 2, "column": 2 } }, "land_value_dcf_period_vs_gdv": { "rows": "development_period_months", "columns": "gross_development_value", "row_values": [ 12, 18, 24, 30, 36 ], "column_values": [ 14818469, 15641717, 16464966, 17288214, 18111462 ], "cells": [ [ 6499222, 7183661, 7868101, 8552541, 9236980 ], [ 5861834, 6500077, 7138321, 7776564, 8414807 ], [ 5271887, 5867052, 6462216, 7057381, 7652546 ], [ 4726029, 5281023, 5836017, 6391012, 6946006 ], [ 4221144, 4738678, 5256213, 5773748, 6291283 ] ], "current": { "row": 2, "column": 2 } }, "land_value_static": { "rows": "construction_cost_per_m2_nia", "columns": "gross_development_value", "row_values": [ 3600, 3800, 4000, 4200, 4400 ], "column_values": [ 14818469, 15641717, 16464966, 17288214, 18111462 ], "cells": [ [ 6542124, 7208340, 7874557, 8540773, 9206989 ], [ 6239359, 6905576, 7571792, 8238008, 8904224 ], [ 5936594, 6602811, 7269027, 7935243, 8601459 ], [ 5633830, 6300046, 6966262, 7632478, 8298694 ], [ 5331065, 5997281, 6663497, 7329713, 7995930 ] ], "current": { "row": 2, "column": 2 } }, "method": "Two-way sensitivity: each cell is the value with the two inputs moved and all others unchanged; `current` marks the base case. `rows` and `columns` name the two inputs; their values are in the unit the name ends in, rates in percent.", "sources": [ { "source": "rics_dcf", "title": "RICS, Discounted cash flow valuations (practice information, 2023)", "paragraphs": "glossary \"Sensitivity analysis/testing\", Appendix B" } ] }, "assumptions": { "asking_land_price": null, "rentable_area_m2": 1366, "residential_rent_per_m2_year": 281.52, "vacancy_pct": 3, "discount_rate_real_pct": 2.1, "macro_premium_pct": 0, "micro_rating": "average", "micro_premium_bp": null, "usage_rating": "residential", "condition_rating": "new", "special_premium_pct": 0, "inflation_pct": 1, "forecast_years": 10, "rent_growth_real_pct": 0, "discount_timing": "mid_year", "exit_cap_rate_pct": null, "exit_sale_costs_pct": 2, "lease_up": true, "initial_occupancy_pct": 75, "lease_up_months": 12, "cap_rate_pct": 2.95, "noi_convention": "after_capex", "gdv_source": "dcf", "gdv_manual": 0, "construction_cost_per_m2_nia": 4000, "professional_fees_pct": 12, "contingency_pct": 5, "sale_costs_pct": 2, "site_acquisition_costs_pct": 2.5, "development_period_months": 24, "target_irr_pct": 15, "finance_rate_pct": 3, "developers_profit_pct": 10, "target_yield_on_cost_pct": 5, "yield_on_cost_basis": "gross_rent" } }