What is unlevered discount rate?
The required total return used to discount property-level cash flow before debt service, often built as risk-free rate + real estate risk premium + property-specific adjustment. It should not be used on levered equity cash flows.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.