eCartar wasn't born in a boardroom. It was built by an investor who needed better tools — and couldn't find them.
Before eCartar was a product, it was a personal tool. The founder was getting into real estate investing and hit the same wall every new investor hits: the math was scattered across spreadsheets, gut feelings, and broker promises.
Existing tools were either oversimplified calculators that missed critical metrics, or enterprise software priced for institutional firms. Nothing in between — nothing built for the independent investor who wants to underwrite like a professional without a six-figure budget.
So the founder built their own. A proper underwriting engine with real financial logic — NOI, DSCR, cap rate, cash-on-cash, debt yield, 15-year projections. Not approximations. Not AI-generated guesses. Hard-coded math that produces the same answer every time.
That tool helped close their first deal. Then their second. Then other investors started asking for access.
"I built eCartar because I needed it. Every feature exists because it solved a real problem in a real deal."
— Founder, eCartarGetting into real estate with no reliable way to analyze deals. Spreadsheets broke, calculators oversimplified, brokers overpromised.
Built a personal underwriting tool from scratch — hard-coded financial logic, not formulas pasted from a blog post.
Used the tool to underwrite and close a real investment. The numbers held. The math worked.
Other investors saw the analysis and wanted access. A personal tool became a product.
A full underwriting platform with AI enhancement — built on the same foundation of honest, verifiable math.
Every number in eCartar is computed from deterministic financial logic. Here's what's under the hood.
Gross income minus vacancy minus operating expenses — with proper annual accounting for free management months, not a naive monthly × 12.
NOI divided by annual debt service. The single most important metric for lenders — and for knowing if a deal actually cash flows.
Annual pre-tax cash flow divided by total cash invested. Tells you what your actual money is earning — not the property's, yours.
NOI divided by property value. The universal language of real estate valuation — comparable across markets and property types.
Purchase price divided by gross annual rent. A quick-filter metric for comparing deals before diving into full underwriting.
Year-by-year projections with rent escalation, expense growth, appreciation, and amortization. Not flat-line guesses — real compounding math.
// Deterministic — same input, same output export function calculateNOI( income, expenses, config ) { const egi = income.gross * (1 - config.vacancy); const opex = computeOpEx( expenses, config ); // Correct annual management fee // accounting for free months const mgmt = expenses.mgmtRate * ((12 - config.freeMgmtMonths) / 12); return egi - opex - mgmt; } export function calculateDSCR( noi, annualDebtService ) { if (annualDebtService <= 0) return Infinity; return noi / annualDebtService; }
Gross income adjusted for vacancy — not assumed at 100% occupancy like basic calculators do.
Many property managers offer free months upfront. eCartar accounts for this at the annual level instead of overstating monthly expenses.
Handles the zero-debt case (all-cash purchase) gracefully instead of dividing by zero. Small detail, correct math.
These aren't AI-generated formulas. They're hard-coded financial logic — reviewed, tested, and producing the same result every time you run them. Your underwriting should be repeatable.
We use AI where it adds genuine value — and nowhere else.
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