A measurement desk
Parcel does not list property, sell property, manage property or lend against it. We measure it, and we publish the arithmetic. Founded 2019 in Phoenix.
Why the desk exists
Residential investment property is the last large asset class where most decisions are still made on a one-page spreadsheet supplied by the person selling it. The spreadsheet is rarely dishonest. It is optimistic in four places at once, and the four compound.
We built the same tooling an institutional buyer runs — uniform assumption sets, per-unit comparables, a real capital schedule — and pointed it at the part of the market institutions are not big enough to care about: single-family rentals, duplexes and small multifamily across 15 Phoenix submarkets.
Then we put it on a public website, because a model nobody can inspect is a model nobody should trust. Everything on this site is the tooling, not a brochure for it.
Six things we will not trade away
The assumptions go on the face of the document
A return without its assumption set is a number without units. Every figure this desk produces is printed next to what produced it, so a client who disagrees can disagree with something specific rather than with a conclusion.
Comparable means comparable
One assumption set across every candidate in a screen, rent measured per unit rather than per building, and submarket medians never quietly swapped for panel medians. A ranking is only worth something if the thing being ranked is the same thing.
Expenses are claims until they are verified
A seller pro forma is a position, not a statement. Tax bills come from the assessor, insurance from a quote, HOA from the CC&Rs, and reserves from replacement cost divided by service life.
We say when the answer is no
Roughly two-thirds of the assets in the current panel do not cover their own debt at market leverage. An analytics desk that never produces that finding is not measuring anything.
We describe the asset, never the people
Fair housing applies to investor-facing analysis in full. Objective market data, always; neighbourhood characterisation, never.
Estimates are labelled estimates
Four of the expense lines in this model are estimated rather than sourced. They are marked as estimates on every surface they appear on, including the ones where it makes the page uglier.
Disclosures
Demonstration site. Parcel is a fictional business created for this design template. Every listing, price, rent, market figure and case study below is illustrative sample data, not a real property or a real transaction. Photography is representative stock imagery and does not depict the addresses shown.
Not investment, tax or legal advice. All returns shown are estimates produced by a model from assumptions you can change, not offers, appraisals or guarantees. Real results differ. Consult your own licensed advisers before acting.
Parcel is committed to the letter and the spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We describe properties and objective market data only. We do not, and will not, market on, or provide analysis based on, race, colour, religion, sex, familial status, national origin, disability, or any proxy for them.