What is Enodo multifamily underwriting software?

What is Enodo Automated Underwriting Software?

Enodo is an automated underwriting software platform for the multifamily real estate industry that offers market-level insights, rent and expense analysis, and rent roll extraction technology.

The startup company was launched by Marc Rutzen, Lee Kiser and Susan Tjarksen in May 2016, and after 18 months of development, the software was released for sale in October 2017.

The platform offers market-level insights, rent and expense analysis, and the ability to detect comparable properties, all of which contribute to a data-driven strategy for evaluating multifamily deals. Enodo accelerates the deal flow process by enabling users to confidently pursue opportunities that align with their investment strategy and to identify expense pitfalls, justify rent comparisons, and find value-add opportunities efficiently. It utilizes machine learning to analyze apartment deals in a fraction of the time usually required, streamlining the investment analysis process​.

Walker & Dunlop acquired the software in February 2019, and Enodo's team of 10 was onboarded to Walker & Dunlop's information technology department to continue development of the software. Enodo CEO Marc Rutzen continued to lead the platform until it was removed from the market at the end of 2020. Marc ultimately rose to Chief Product Officer at W&D, helping scale the technology team and lead the development of several internal tools to streamline the underwriting process.

Enodo technology was known as one of the best rent roll parsing tools on the market, which contributed to its acquisition by W&D. It is still used by Walker & Dunlop today, processing tens of thousands of rent rolls and T-12 operating statements each year.

After 4 years serving with Walker & Dunlop after its acquisition of Enodo, Nicolas Lassaux, Tim Gamble and Marc Rutzen launched HelloData in 2023 to automate multifamily rent surveys and produce a market-driven approach to revenue management. Nico and Tim were Enodo's first two hires in 2016, and since then the team of Marc, Nico and Tim have continued to work together to develop AI-driven technology for the multifamily real estate industry.