Investment land analysis with capital improvements

This will calculate: a full year-by-year projection on a land investment, out to 5, 10, 15 or 20 years, and give you the IRR and FMRR both before and after tax.

Enter the purchase and both loans (including any balloons), your sale assumptions, first year operations and tax brackets. Purchase price must equal the down payment plus the two loan amounts, or the form will tell you.

Land is not depreciable, so there is no depreciation or recapture here — the cost basis stays at what you paid, and the whole gain is taxed at your capital gains rate.

Two buttons open small windows where you enter figures year by year. Capital improvements are amounts spent on the land, deducted in the year you spend them. User determined sales price overrides the appreciated value in any year — those years show in blue on the schedule.

Each block of five years prints on its own page. Figures shown in red are negative.