# PenciledOut — Real Estate Deal Underwriting

> Real estate deal underwriting and analysis tool for developers and operators. (iPhone/iPad app by Philly Capital Group LLC.)

- Source: https://appshunter.io/ios/app/penciledout/id6770811445 (this page in markdown: same URL + `.md`)
- Developer: [Philly Capital Group LLC](https://appshunter.io/developer/1896764116)
- Category: Finance, Business
- Price: Free with in-app purchases
- Rating: 5.00/5 from 3 App Store ratings · 2 written reviews indexed
- Age rating: 4+
- Requires: iOS 15.0 · 13 MB
- Languages: American English
- Released: 2026-07-04
- Data updated: 2026-09-26
- Monetization: free with in-app purchases
- User reviews in markdown: https://appshunter.io/ios/app/penciledout/id6770811445/reviews.md

## What is PenciledOut?

PenciledOut is the underwriting tool built for real estate developers and operators. Run full proformas, screen offering memorandums, and analyze zoning codes, all from your phone.

Five proforma templates cover every deal type: value-add multifamily, ground-up development, commercial acquisition, refinance, and residential condo outsell. Each proforma calculates cash-on-cash returns, IRR, equity multiples, debt service coverage, and waterfall splits with GP/LP structures.

Key features:

- Full proformas with real-time financial modeling
- OM Screener: upload an offering memorandum PDF and get an instant pencils/doesn't-pencil verdict with extracted inputs pre-loaded into the matching proforma
- Zoning Analyzer: paste a municipal code URL or upload a PDF to get structured zoning analysis with computed max units, FAR, parking, setbacks, and overlay impacts
- District Detect: look up your property's zoning district by address
- Investment memo PDF export
- Excel export for all proformas
- Share deals via link
- Saved deal dashboard

Built for operators who need to move fast on deals. No spreadsheet templates. No desktop required.

SUBSCRIPTION DETAILS
PenciledOut Pro ($49.99 per month) and Pro Unlimited ($99.99 per month) are auto-renewable subscriptions, each starting with a 7-day free trial. Payment is charged to your Apple ID at confirmation of purchase. Subscriptions renew automatically unless cancelled at least 24 hours before the end of the current period. You can manage or cancel in your App Store account settings.

Terms of Use (EULA): https://www.apple.com/legal/internet-services/itunes/dev/stdeula/
Privacy Policy: https://penciledout.com/privacy

## Key features

- Full proformas with financial modeling
- OM Screener for instant deal verdicts
- Zoning analysis with computed metrics
- District zoning lookup by address
- Investment memo PDF export
- Excel export for proformas
- Share deals via link

## Pricing and in-app purchases

Base price: Free.

**Subscriptions**

| Subscription | Price | Period |
| --- | --- | --- |
| Pro Unlimited | $99.99 | per month |
| Pro | $49.99 | per month |


## Recent user reviews (2 of 2)

All indexed reviews: https://appshunter.io/ios/app/penciledout/id6770811445/reviews.md

### 5/5 — Henry Siebert

*2026-07-04*

Extremely useful

### 5/5 — Great App!

*2026-07-04*

As a broker, PenciledOut has cut my underwriting time from hours to minutes without skipping the detail that actually matters. The output is thorough enough that I trust it in front of clients, and the white labeling lets me hand lenders a polished package with their own branding. It has become the first tool I open on every deal.

## Frequently asked questions about PenciledOut

### What is PenciledOut?

PenciledOut is a mobile application designed for real estate developers and operators to perform deal underwriting. It offers tools for running full proformas, screening offering memorandums, and analyzing zoning codes directly from a smartphone or tablet.

### What types of real estate deals can PenciledOut analyze?

PenciledOut provides five proforma templates covering various deal types, including value-add multifamily, ground-up development, commercial acquisition, refinance, and residential condo outsells.

### How does the OM Screener work in PenciledOut?

The OM Screener allows you to upload an offering memorandum PDF. The app then provides an instant verdict on whether the deal pencils and pre-loads extracted inputs into the matching proforma for further analysis.

### Can PenciledOut analyze zoning regulations?

Yes, the Zoning Analyzer feature lets you paste a municipal code URL or upload a PDF to get structured zoning analysis. It computes metrics like maximum units, FAR, parking requirements, and setback information.

### What are the subscription options for PenciledOut Pro?

PenciledOut offers two auto-renewable subscriptions: Pro at $49.99 per month and Pro Unlimited at $99.99 per month. Both plans include a 7-day free trial.

### How do I cancel my PenciledOut subscription?

You can manage or cancel your subscription by going to your App Store account settings. Cancellations must be made at least 24 hours before the end of the current subscription period to avoid automatic renewal.

### What devices is PenciledOut compatible with?

PenciledOut is designed for iOS devices, including iPhone, iPad, and iPod. It is rated for ages 4 and up.

### Does PenciledOut have ads?

No, PenciledOut is ad-free. The application's monetization is based on its subscription plans for advanced features.

## Version history (last 1 release)

### 1.0 — 2026-07-04

No release notes.

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*Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-09-26.*