Real Estate Analysis
Director of Real Estate Analysis
Phone: (512) 475-2973
Fax: (512) 475-4420
PO Box 13941
221 East 11th Street
Austin, TX 78711-3941
The Real Estate Analysis division provides the TDHCA Governing Board and staff with comprehensive analytical reports necessary to make well informed decisions for funding of affordable housing developments.
The following resources provide underwriting reports for the applicable funding source, or group of developments. The file numbers listed are linked to the PDF version of the underwriting report. These resources will be updated as underwriting reports are completed. Requests for underwriting reports not included in these spreadsheets may be emailed to Tom Cavanagh at email@example.com.
- The 2017 Real Estate Analysis Rules and Guidelines (PDF) encompass the Department's standards for underwriting, market analyses, appraisals, environmental site assessments, property condition assessments and direct loan requirements.
- The 2017 Real Estate Analysis rules are codified in Chapter 10, Subchapter D, §§10.301 - 10.307 Underwriting and Loan Policy as part of the global Uniform Multifamily Rules which can be found here.
- List of Approved Market Analysts
- Request for Qualifications for Market Study Analysis (PDF)
- HUD form 92273-s8 (XLS) with instructions (DOC) is recommended as a guide for rental rate adjustment matrixes included in submitted market analyses.
- Please contact Tom Cavanagh at firstname.lastname@example.org regarding Market Analysis information.
- Property Condition Assessment Cost Schedule Supplement (XLS)
- 2017 Market Analysis Summary Exhibit (XLS)
- HUD form 92273-s8 (see Market Analysis section above)
- 2016 Regional Operating Expense Database (PDF) - year-end 2014 data
- 2016 Statewide Operating Expense Database (PDF) - year-end 2014 data
- HTC Applicable Percentages and Calculation of Underwriting Rates to be Used. (novoco.com)
Please see Novogradacís website for applicable percentages. Starting January, 2014, the applicable percentage TDHCA will use is 40 basis points over the current applicable percentage for 70 percent present value credits; and 15 basis points over the current applicable percentage for 30 percent present value credits for the month in which the application is submitted to the department.
For more information, please contact a Real Estate Analysis staff member.