🏢 NexusIQNexus Plus Management LLC · Ohio · your 40%
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📊 Where you are
Every number below is computed from the AppFolio Nexus general ledger plus whatever
you have filled in. Anything still resting on an assumption is marked — hover it.
💧 Value → your pocket
The waterfall from gross portfolio value down to what a sale would actually
put in your hands. Each step is a real deduction, not a haircut for pessimism's sake.
🏘 Asset by asset
Sorted by your equity share. Click any row to open the full record.
🎯 The question
You asked whether you are wasting your time. That is a returns question, and it
has three parts: what you have put in, what has come back out, and what your share would fetch
if you walked. Only the middle one is currently well documented.
💸 Cash that actually reached the members
Parsed from GL 3250 owner-distribution descriptions ("Wilson Pay 5k", "Jose Pay — Feb 5K",
"Vic's Pay — Jan 24"). This is the split that happened, which is not necessarily the split
that was agreed.
🚪 What your 40% is worth if you leave
Three exits, three very different numbers. A minority interest in a private LLC
does not sell for its pro-rata share of asset value — that is what the discount below is for.
⏳ Opportunity cost
The honest comparison is not "did I make money" — it is "did I make more than the
next best use of the same hours and the same capital". Fill these in and the verdict above sharpens.
🧾 Capital ledger
Contributions, distributions, loans to the company, guarantees called. The GL only
knows about $1,250 of contribution — if you funded down payments, personal cards, or years of
unpaid time, none of that is here yet, and the return figures above are flattering you.
🏗 Building records
One row per building. The completeness bar shows how much of each record is real
data versus a hole — the holes are what stop this tool from answering your question properly.
📐 How each building is being valued
The model takes the first mark it can trust, in this order:
1. a valuation you flagged primary · 2. your ARV · 3. cap rate applied to
annualised NOI · 4. the county's appraised value. The basis column tells you which one
fired, so you always know whether you are looking at evidence or arithmetic.
Why NOI is normalised by default. The ledger books expenses at
48.7% of income in FY2025 but only 19.6% in 2026 to date — the 2026 costs are
not in the system yet. It also parks overhead on the management office instead of spreading it,
which is how 45 Superior comes to show a 12.6% expense ratio. Valuing off those numbers
overstates the portfolio by roughly 2x. The default therefore takes annualised gross income —
which is well recorded — and applies this portfolio's own FY2025 expense ratio.
Switch to as booked to see the raw ledger, but do not quote that view to a lender.
🎚 Sensitivity
What a cap-rate move does to your 40%. In C-class Ohio multifamily a two-point
move is an ordinary market year, not a disaster scenario — which is why a single point estimate
of "what it's worth" is misleading on its own.
🏦 Loans
Modelled at the loan level, not the building level, because the GL strongly
suggests one cross-collateralised note is being spread across four buildings. Unverified balances
render struck through — they came from ledger activity, not a lender statement.
📉 Leverage by building
LTV against the current value mark. Anything over 80% is hard to refinance;
anything with debt and no income is a standing loss.
🧭 Where this is heading
One play per building, sequenced by horizon. This is the opening board seeded from
what the ledger shows — edit it until it matches your actual intent.
📈 If the board executes
Capital required versus proceeds expected, and what it does to your 40%.
Only plays with numbers filled in are counted.
✨ Strategy brief
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🗂 County auditor lookups
Purchase price, transfer date and appraised value are all public record in Ohio,
held by the county auditor / fiscal officer. Four counties cover this portfolio. Open the search,
paste the address, then record what you find — the valuation model will start using it.
Why these are links and not an automatic pull. The county sites do not
publish a stable deep-link format, and Ohio's Secretary of State search sits behind bot
protection that already blocked an automated attempt during the tax project. Rather than
fabricate URL parameters that will 404, each row opens the real search page and copies the
address for you.
📥 What is still missing
Ranked by how much each gap distorts the answer to "is my 40% worth anything".
Fill the top of this list and everything else in the tool sharpens at once.
🔌 Where the current numbers came from
So that six months from now you can tell what was measured and what was assumed.