AI Underwriting for Multifamily
A team of underwriting agents that works alongside yours.
Each agent owns a section of the deal: comps, expenses, market, sponsor, cashflows. They read your documents, work inside the Excel model you already use, and reconcile what they find into a draft of your underwriting narrative, then collaborate with you to reach the final draft.
Pressure-test the deal
Every deal has a story. The agents check whether the numbers back it up.
Take a new acquisition: the team reads the offering memorandum, the historical financials, and the market report together, then flags every place the projections outrun what the comps, the trailing actuals, and the submarket actually support. Not to kill the deal. To make sure you underwrite the real one.
The result isn’t a stack of disconnected reports. It’s one reconciled narrative that has already argued with itself, with the disagreements worked out and on the record for you to check.
The OM projects rents to $1,950. My comp set for this submarket supports about $1,820. That last $130 isn’t in the market yet.
Pushback
And the OM runs OpEx at 31% of EGI. Trailing-twelve is 37%. Underwriting to the OM’s number would overstate Year-1 NOI.
Absorption backs a 12-month lease-up, not the 6 the OM assumes. I’ll share the submarket curve so we’re all on the same prior.
Three places the broker’s story outruns the evidence, surfaced before they reach your credit committee.
How the team works
Underwriting agents that fit how you already work.
They take on the data extraction, the fact-finding, the cross-checking, and the drafting, so you spend your judgment where it moves the deal, and walk into committee with every number already traced to its source.
Follow the whole desk
See every step. Step in anywhere.
Every agent’s work is on the record as it happens, every step, source, and decision, so you can follow the reasoning and step in wherever your judgment is needed. Nothing is buried where you’d only find it later.
Underwriter-in-the-loop
When a decision matters, the agent brings you in.
While analyzing the cashflows, the agent hit a conflict: the rent roll says 142 units, the appraisal says 138. Rather than quietly pick one and build the rest on a guess, it paused and brought the decision to you.
No silent assumptions you only discover later. The agents do the work; you keep the decisions that change the deal.
Which unit count should I carry forward?
No templates, no re-keying
Upload the deal as it is. An agent reads every page.
Spreadsheets, PDFs, 85-page appraisals, decks, screenshots. An agent reads each page, tags the photos, pulls the tables, and builds one clean data store as it goes.
added to your data store
Bring your own model
Upload your model. An agent learns how it works.
Already built your own Excel model? Upload it. An agent opens it and works through it the way a seasoned analyst would, sheet by sheet, formula by formula, tracing how the numbers connect and mapping how the whole thing fits together. Then it pulls those values into your underwriting narrative.
It isn’t a one-shot import. The agent reasons through your model, step by step, so it works from the logic, not just the cells.
Works with your AI
Drive Narragen from the agent you already use.
Connect to Narragen’s MCP server with your ChatGPT or Claude, and your own agent can kick off an underwriting, track the team’s progress, and relay the decisions our agents need from you, without leaving the tool you already work in.
Built by a team of agents, with a human in the loop.
Narragen is designed and continuously improved by its own team of AI agents, each owning a defined role across engineering, QA, DevOps, compliance, and support. And just as they do on your deals, they bring a human into the loop whenever there’s a critical decision to make.
Trust & control
Built to answer your risk committee’s first questions.
Request a demo
We’re working with a small group of early underwriting teams. Leave your work email and we’ll set up a walkthrough, on a sample deal, or your own when you’re ready.
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