Marg1n

by Dreyas Property Partners

Illustrative residential construction in progress
Illustrative image

Feasibility software for residential development across Australia.

Know your numbers.

More than a profit figure.

Try Marg1nSee how it worksSee a sample report

Coming soon

Early access is currently by invitation.

  • NSW transfer duty at 2026 Revenue NSW rates
  • Every figure traces to its inputs
  • Reports ready to send: client brief, lender report, Excel
  • Built by the Dreyas team and tested on our own development deals

Product

The three questions answered.

GST and the margin scheme, a monthly cash flow, lender tests, and sell, hold or a mix, in one model, with reports ready to send.

01 Does it stack up?

Net profit before tax
$622,792
19.4% Profit Margin
After GST and project costs

Two ways out

Sell allNet profit (sell all)

$622,792

Hold allValue created if held

$852,410

Value created if held is after project costs and GST credits repaid; it is not cash released.

Presales on kept dwellings are removed; kept value is an asset, not cash.

Lender tests

Construction facilityExample

  • LVR on GRV

    56.7% / Limit 65.0%

    Clears

  • Loan to cost

    80.0% / Limit 80.0%

    Clears

  • Development Margin

    23.4% / Minimum 20.0%

    Clears

Modelled on your assumptions, not a lender’s approval.

The detail behind the decision

GRV to net profit · GST

GRV (inc GST)
$4,140,000
Net profit
$622,792

01 GST

Every GST line, worked out.

The sale, the credits and the settlement timing, connected to the same deal.

  • Margin scheme and full GST
  • Input credits by cost line
  • Purchaser withholding at settlement
12 Banksia StExample
Margin scheme · GST on sale$305,455
Full GST · GST on sale$376,364
Withheld by the purchaser at settlement$289,800
Input credits$189,536
Net GST across the project — payable$115,919

Same sale prices; two GST methods. Remaining lines show the margin scheme base case.

03 Lender tests

See the lender’s tests first.

Each published test carries its figure, its limit and its assessment status.

  • LVR on GRV
  • Loan to cost
  • Development Margin
More figures

6 strata townhouses · Margin scheme · Build and sell

Conservative case: your conservative sale prices and rents · AUD · The sample was bought at $780,000

Base case vs sale prices 5% lower
MeasureBase casePrice −5%
Net profit before tax$622,792$437,820
Profit Margin19.4%13.6%
Peak equity$708,539$709,344
Site price that meets a 20.0% Profit Margin target$765,509$629,146
GRV (inc GST)$4,140,000$3,933,000
Peak debt (month 21)$2,347,850$2,347,850
Net GST across the project — payable$115,919$97,571

GST method: Margin scheme. Net profit and Profit Margin are net of GST. Funding includes GST cash flows.

Peak equity is the most own cash in at one time, in the conservative monthly cash flow.

AUD · Whole dollars; Profit Margin to one decimal place

Modelling tool only. Not financial, tax, credit, legal or purchasing advice, and not a valuation.

02 How much cash do I need?

Monthly cash flowSample deal · Illustrative figures
Programme month 1: Equity called $281,095Programme month 2: Equity called $19,008Programme month 3: Equity called $19,008Programme month 4: Equity called $19,008Programme month 5: Equity called $19,008Programme month 6: Equity called $19,008Programme month 7: Equity called $19,008Programme month 8: Equity called $19,008Programme month 9: Equity called $23,733Programme month 10: Equity called $25,881Programme month 11: Equity called $85,881Programme month 12: Equity called $25,881Programme month 13: Equity called $25,881Programme month 14: Equity called $25,881Programme month 15: Equity called $25,881Programme month 16: Equity called $25,881Programme month 17: Equity called $25,881Programme month 18: Equity called $25,881Programme month 19: Equity called $25,881Programme month 20: Equity called $25,881Programme month 21: Equity called $25,881Programme month 22: Equity called $342Programme month 23: Equity called $342Programme month 24: Equity called $342Programme month 25: Equity called $342Programme month 26: Equity called $342Programme month 27: Equity called $342Programme month 28: Equity called $0Programme month 29: Equity called $0Programme month 29: GST movement · GST paid $15,655Peak debt (month 21)Months 1–29Settlements · 22–27

Closing senior debtEquity calledGST movement

Peak debt (month 21)
$2,347,850
Peak equity
$708,539

Sell all completed dwellings

6 sold · 0 kept

Net sale proceeds
$3,720,845
Per dwelling · Conservative case

Per dwelling · Conservative case

  • Unit 1 (2bd/2ba)Sell · Presold
    Contract price$670,000
  • Unit 2 (2bd/2ba)Sell · Presold
    Contract price$670,000
  • Unit 3 (2bd/2ba)Sell
    Sale price$670,000
  • Unit 4 (2bd/2ba)Sell
    Sale price$670,000
  • Unit 5 (3bd/2ba)Sell · Presold
    Contract price$730,000
  • Unit 6 (3bd/2ba)Sell
    Sale price$730,000

Hold all completed dwellings

0 sold · 6 kept

Kept value
$4,140,000
Gross annual rent on kept stock
$199,680
Per dwelling · Conservative case

Per dwelling · Conservative case

  • Unit 1 (2bd/2ba)Keep
    Kept value$670,000
    Weekly rent$620
  • Unit 2 (2bd/2ba)Keep
    Kept value$670,000
    Weekly rent$620
  • Unit 3 (2bd/2ba)Keep
    Kept value$670,000
    Weekly rent$620
  • Unit 4 (2bd/2ba)Keep
    Kept value$670,000
    Weekly rent$620
  • Unit 5 (3bd/2ba)Keep
    Kept value$730,000
    Weekly rent$680
  • Unit 6 (3bd/2ba)Keep
    Kept value$730,000
    Weekly rent$680

Sell and keep the selected dwellings

3 sold · 3 kept

Net sale proceeds
$1,802,277
Kept value
$2,130,000
Gross annual rent on kept stock
$102,960
Per dwelling · Conservative case

Per dwelling · Conservative case

  • Unit 1 (2bd/2ba)Sell · Presold
    Contract price$670,000
  • Unit 2 (2bd/2ba)Sell · Presold
    Contract price$670,000
  • Unit 3 (2bd/2ba)Sell
    Sale price$670,000
  • Unit 4 (2bd/2ba)Keep
    Kept value$670,000
    Weekly rent$620
  • Unit 5 (3bd/2ba)Keep
    Kept value$730,000
    Weekly rent$680
  • Unit 6 (3bd/2ba)Keep
    Kept value$730,000
    Weekly rent$680

Illustrative alternatives: presales on kept dwellings are removed. Kept value is an asset, not cash.

The detail behind the decision

02 Funding

Funding, month by month.

Drawdowns, interest added to debt and settlements reveal the peak you need to fund.

  • Monthly debt and own cash
  • Peak debt and its month
  • Settlements in the same schedule

04 Sell, hold or a mix

Sell, hold or a mix.

See sale proceeds, retained value and rental income for each strategy.

  • Selling and keeping dwellings
  • Negative gearing
  • CGT with the 2026 changes

The new-home test is still a draft.

03 What’s the most I can pay?

05 Reverse feasibility

What can I pay?

Work back from your target return to the most you can pay, then compare it with the price in the deal.

Maximum land price within modelled limits
$765,509
Target 20.0% Profit Margin
Price in the deal
$780,000
$14,491 over the $765,509 maximum land priceProfit Margin 19.4%

Price ruler

Maximum land price $765,509

In the deal $780,000

Profit Margin Sets it
Target 20.0%
Within modelled limits $765,509
Development Margin Clears
23.4% · Minimum 20.0%
At the price in the deal

Solid bars show the published figures. Hatching marks prices above the published maximum land price.

The Development Margin is shown at the price in the deal; its separate land-price limit is not published in this sample.

If sale prices fall

Compare lower sale prices with your base case.

Base case
$622,792Net profit · 19.4% Profit Margin
Sale prices 5% lower
$437,820Net profit · 13.6% Profit Margin

Statement · example project · Illustrative figures

Reports

Reports that do the explaining.

Every report carries the engine version and its open-item count, and points to the assumptions behind it.

Client-ready reports, every time.

Built for buyer's agents and brokers who send feasibility reports to lenders for their clients.

Download the sample report (PDF) · 8 pages
Illustrative drone view of six townhouses (example project)
12 Banksia St · Illustrative image

Overview

Executive summary · page 1Your logo here
DecisionExecutive summary · page 1
Client brief · page 5
Funding and cashClient brief · page 5
Lender report · page 7
Detailed draw scheduleLender report · page 7

Executive summary

Executive summary · page 1Your logo here
DecisionExecutive summary · page 1
Executive summary · page 3
The economicsExecutive summary · page 3

Client brief

Client brief · page 5Your logo here
Funding and cashClient brief · page 5
Client brief · page 1
DecisionClient brief · page 1
Client brief · page 6
DownsideClient brief · page 6

Lender report

Lender report · page 7Your logo here
Detailed draw scheduleLender report · page 7
Lender report · page 5
Funding and cashLender report · page 5
Lender report · page 6
Security and unit scheduleLender report · page 6

Technical appendix

Technical appendix · page 79Your logo here
CashflowTechnical appendix · page 79
Technical appendix · page 9
Sources & usesTechnical appendix · page 9
Technical appendix · page 84
Selected strategy — cashflows from completionTechnical appendix · page 84

Excel workbook

Excel workbook
A view of the sample’s monthly cash flow
ABCD
Programme monthDebt drawnEquity calledClosing senior debt
119$319,907$25,881$2,074,403
220$3,201$25,881$2,092,298
321$240,731$25,881$2,347,850
422$0$342$1,741,730
523$0$342$1,131,317

Your own logo on your reports is in development.

Example project exports · 7 October 2026. Export assumptions are recorded in each document.

How it works

Start where you are.

  1. Screen a site · NSW

    Street address

    Site check (due diligence) covers NSW today.

  2. Back of the envelope

    Quick numbers

    Rough costs, GST and sale figures

  3. What can I pay?

    Reverse feasibility

    Work back from your target return to the most you can pay.

  4. New deal

    The full model

    Enter the costs, programme and finance

  5. Made to measure

    Targeted feasibility

    Start with a development type

One deal grows from a quick screen into a full feasibility, without re-entering anything.

Illustrative Australian townhouses in warm evening light
Illustrative image

The market moves

Prices move. Know your numbers before you decide.

$393,500June 2002

$1,520,000June 2025

Sydney’s median house price went from $393,500 to $1,520,000, about ×3.9 in nominal dollars, and fell 14.6% between the June quarters of 2017 and 2019 along the way.

Median price of established house transfers, Sydney, June quarter, 2002–2025 (nominal $)

$0$500k$1m$1.5m$2m20052010201520202025−14.6%, 2017–2019$0$500k$1m$1.5m$2m20052010201520202025−14.6%, 2017–2019$0$500k$1m$1.5m$2m20052010201520202025−14.6%, 2017–2019
Sydney's median house price, shown because prices move. It is not the market for the sample deal. The preliminary June 2026 figure is $1,487,600. A median of houses sold in each quarter, not a price index; it moves with which properties sold. Past performance is not a reliable indicator of future performance.

Test a 5% fall in sale prices against your own deal’s assumptions.

Source: Australian Bureau of Statistics, Total Value of Dwellings, June Quarter 2026 (cat. no. 6432.0), Table 2: median price of established house transfers, Sydney, June quarter of each year. Based on Australian Bureau of Statistics data (CC BY 4.0).

Chart data
Median price of established house transfers, Sydney, June quarter, 2002–2025 (nominal $)
Year (June quarter)Median house price
2002$393,500
2003$460,000
2004$498,000
2005$500,000
2006$495,000
2007$512,300
2008$517,000
2009$490,000
2010$612,500
2011$592,000
2012$600,000
2013$650,000
2014$728,000
2015$860,000
2016$895,000
2017$1,050,000
2018$973,100
2019$897,000
2020$955,000
2021$1,206,400
2022$1,350,000
2023$1,355,000
2024$1,455,000
2025$1,520,000

Each point is the June quarter (Apr-Jun) of the stated year, e.g. year 2002 = June quarter 2002.

ABS publishes in $'000; each value here is the ABS figure x 1,000 (exact).

The June quarter 2026 figure is preliminary and is not plotted.

The fall marked is the biggest drop between two plotted June quarters (2017 to 2019), as a share of the earlier one. It does not describe the quarters between them.

Based on Australian Bureau of Statistics data. Australian Bureau of Statistics (June 2026) 'Table 2. Median Price and Number of Transfers (Capital City and Rest of State)' [time series spreadsheet], Total Value of Dwellings, https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/total-value-dwellings/jun-quarter-2026, accessed 6 October 2026. Licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Converted to dollars and charted by Marg1n. The ABS does not endorse this product.

Start with your question

Try Marg1n

Try Marg1n

Coming soon

Early access is currently by invitation.

How much time do your site screens cost you? Take the 2-minute check →

Transfer duty for NSW, checked against 2026 Revenue NSW rates. Other states and territories use estimated rates for now. GST and tax rules nationwide. NSW levies are built in; elsewhere you enter your own. Site check (due diligence) covers NSW today. Not in this version yet: an in-app assistant, licensed comparable-sales data, third-party due-diligence data.

About the M1 engine

M1.21.16 · Engine version 1.21.16

How the engine works

The M1 engine brings acquisition, construction, funding and tax inputs into one property development calculation.

What it models

Development and ownership

  • Build to sell, keep and hold, and mixes of selling and keeping dwellings.
  • Dual occupancy and townhouses, with a dwelling register for sale values and rents.
  • Staged development land costs apportioned from the original site purchase.
  • Joint-venture investor contributions and profit shares in proportion to the capital contributed.

Tax and statutory costs

  • GST calculations include the margin scheme, purchaser withholding at settlement and Division 129 adjustments.
  • Transfer duty for all eight states and territories and the NSW Long Service Levy use dated rule tables.
  • Standard transfer duty is worked out for every state and territory (estimated outside NSW). Premium and option duty, duty timing and the Long Service Levy use NSW rules only; elsewhere, duty adjustments and local levies and charges are user-entered. Council contributions, NSW statutory cost lines and land tax are user-entered. Planning lookup covers NSW only.
  • Hold and refinance calculations include negative gearing and the 2026 tax reform. New-dwelling status uses a draft definition, subject to final legislation.

Funding and cashflow

  • Lender sizing uses loan-to-value on GRV and loan-to-cost limits.
  • Monthly cashflow tracks funding draws, interest paid from the facility, GST cashflows and settlements.
  • Two-phase finance models a residential land loan followed by a development facility. Mezzanine finance is also modelled.

Explore and save

  • The land-price solver recalculates the deal to find a price for a target profit margin, and reports when the target cannot be reached.
  • Scenarios and sensitivities recalculate the model with changed inputs.
  • Every saved deal records which engine version calculated it.

How it is kept right

  • Rule tables carry versions and effective dates.
  • Funding sources must equal uses within $2 on each calculation, or the engine throws a reconciliation error.
  • Each version is tested against a fixed set of reference deals before it is released.

Where the rules come from

  • The rule files cite the Australian Taxation Office, APRA, Revenue NSW and the Long Service Corporation.
  • The recorded legislation includes the GST Act, Duties Act 1997 (NSW), Income Tax Assessment Act 1997 and Treasury Laws Amendment (Tax Reform No. 1) Act 2026.
  • The 2026 tax reform is law. New-dwelling status uses a draft definition, subject to final legislation.

Important information

Marg1n is a modelling tool by Dreyas Property Partners Pty Ltd (ACN 695 588 295). It provides general information only. It is not financial, tax, credit, legal or property purchasing advice, and it is not a valuation. It does not take into account your objectives, financial situation or needs. Every figure is an estimate calculated from the inputs and assumptions entered, which the user is responsible for checking. Site, planning and property information may come from government and third-party sources; it is provided as is, may be incomplete or out of date, and must be verified independently. Before you buy, sell, borrow, build or restructure, get advice from qualified professionals, such as an accountant, solicitor, licensed financial adviser, credit provider or valuer. To the extent permitted by law, Dreyas Property Partners accepts no liability for decisions made in reliance on this information.