The Online Platform That Evaluates Properties In Minutes Instead Of Hours
On the Enodo platform, real estate professionals are a click away from making better investment decisions. The platform allows users to type in any property address, confirm basic physical and investment parameters, instantly calculate market rents, identify comparable properties and predict operating expenses for that property.
In the hypercompetitive commercial real estate world, minutes gained can make the difference between finding a great investment and missing out on the perfect value-add opportunity.
“Enodo instantly evaluates investment potential, whereas traditional data collection and analysis takes several hours,” Enodo CEO Marc Rutzen said. “Speed and accuracy of analysis make all the difference between consistently executing great investments, or continually missing out on opportunities."
Enodo publicly released its predictive analytics platform to multifamily professionals nationwide earlier this year. The startup brings quantifiable data to an area of market analysis known for being subjective and hard to quantify.
“When it comes to amenities, rather than just guessing how hardwood floors, a pool or a fitness center will bring value to a property, our users can instantly see how these features will impact a property’s ability to generate revenue,” Enodo Chief Operating Officer Thomas Delaney said. “We are bringing objective data science to a market notorious for being subjective and highly opaque in terms of data availability.”
Enodo automatically identifies comparable properties based on multiple building and market characteristics.
“We show everything in the market that is the most statistically comparable," Rutzen said. "We look at parameters like year built, the number of units, building and unit-level amenities, as well as demographics and economics of the market to calculate similarity.”
While current users can take advantage of amenity analysis and instantaneous rent surveys, Enodo has additional tools in the pipeline that will continue to revolutionize the industry. A commercial automated valuation model is in private beta for a pending release of an upgraded version of the platform.
“Valuation models have been around for several years on the residential side of the market," Rutzen said. "But the variability of CRE operating methods, expenses and financial structures have made automated valuations the holy grail among CRE professionals.”
By combining historical information, real-time data feeds and forward-looking projections of property income and expenses, Enodo is creating a reliable model for predicting the value of multifamily properties rates.
“We created a tool that provides both investors and lenders a third-party perspective on a property’s potential value,” Rutzen said. “What once took hours can now be done in minutes.”
Enodo is also working on a feature that will allow users to filter deals based on value-add or redevelopment potential. When brokers send out offering memoranda, potential investors sift through stacks of documentation to discover which offering is the best opportunity. The platform will automate the process, allowing investors to quickly vet opportunities that meet their criteria.
The additional features are part of Enodo’s mission not to just provide CRE professionals with data but to give them the insights needed to analyze and close more deals.
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