Site Carry Cost Calculator

Undeveloped sites still carry cost. This calculator rolls up monthly carry.

Site value

Property tax rate

Debt service monthly

Security + maint

Insurance monthly

Monthly carry

$19,200

Annual carry

$230,400

Carry % of value

9.22%

How the math works

Monthly = property tax/12 + debt service + security/maint + insurance.

A 24-month entitlement process on a $2.5M site can consume $400-600k in total carry. Price that into the acquisition underwriting — sites bought below replacement cost look cheap until the carry calendar runs.

How to Use

Enter site value.
Enter property tax rate %.
Enter debt service monthly.
Enter security and maintenance monthly.
Enter insurance monthly.
Read total monthly carry.

Frequently Asked Questions

Typical carry?

Urban infill land: 0.5-1.5% of value monthly. Suburban: 0.3-0.6%. Rural: 0.2-0.4%. Debt service dominates when leveraged; tax and insurance dominate when held free-and-clear.

What to watch?

Undeveloped land often taxed on speculative zoning (not actual use). Vacant land insurance often 3-5x higher than improved. Security for cleared sites can exceed $2-5k/mo in urban areas to prevent squatters and dumping.

Carrying strategies?

Short-term lease (agriculture, parking) can offset 20-60% of carry. Negotiate long-term property tax deferral in some jurisdictions. Structure acquisition with seller note to defer carry until entitlement period.

How often should I rerun this?

Rerun this calculator whenever inputs change materially — new rent roll data, rate moves, loan balance updates, or quarterly operating data. For active deals, monthly refresh is typical. For stabilized assets under monitoring, quarterly is fine. Treat the output as a decision tool, not a one-time answer — market conditions evolve and so should your analysis.