Taking them in order. T-12 means trailing twelve months, so 612,000 is the actual net operating income the property produced over the last year rather than a projection. NOI is rental and other income minus operating expenses, before any loan payment and before capital work. Cap rate is NOI divided by price, so a 5.6 going-in cap on 612,000 implies a purchase price near 10.9 million. Exit cap is the cap rate the sponsor assumes a future buyer will pay when they sell, and 5.9 means they're assuming they sell at a slightly worse price relative to income than they bought at, which is a conservative habit.
LTC is loan to cost, so 70 percent means debt covers 70 percent of total capitalization including renovation money, and the remaining 30 percent is equity. DSCR is debt service coverage ratio, NOI divided by annual loan payments, so 1.25 says income exceeds the loan payment by 25 percent at closing. IRR is the annualized return accounting for when cash arrives, and equity multiple is total dollars back divided by dollars in, so 1.9 means 190,000 back on 100,000 over the five years.
No single number decides it. The two that carry the most weight are the exit cap and the rent growth assumption behind the projection, because both are guesses about the future and small changes swing IRR hard. Push the exit cap from 5.9 to 6.4 and a 15.8 IRR can fall to single digits with nothing else changing.
The number that isn't in your list is the one I'd chase. Ask what the loan term is and whether the rate is fixed or floating, and if floating, whether there's a rate cap and when it expires. Deals that got into trouble over the past few years mostly didn't miss on rents by much. They ran out of loan before the plan finished.
