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    Lakeside Laundry & Wash-Dry-Fold

    2240 Lakeside Avenue, Austin, Texas 78704 · 12 years in operation · Semi-attended — 1 full-time attendant + owner part-time

    Business only — buyer assumes the NNN lease (real estate NOT included)

    Asking
    $445,000
    3.31× SDE
    Verdict
    BUY_WITH_CONDITIONS
    Stable performer, but the water bill tells a different story than the P&L
    Fair-value range
    $403,800 – $477,830
    Mid $410,530
    Owner earning power (SDE)
    $134,600/yr
    NOI $107,000 + $27,600 add-backs
    Deal Strength57%

    Asking $445,000 sits inside the real fair-value range of $403,800–$477,830 — priced about right, not a steal. Modern equipment and a strong lease are real strengths. But metered water usage implies revenue closer to $442K–$491K than the $396K claimed — a $70,766 gap worth resolving with the seller before you move forward.

    9-dimension breakdown

    Every dimension scores — nothing is unverified because all source data was supplied.

    Earnings (SDE ÷ revenue)
    Strong owner earning power relative to revenue
    SDE $134,600 = 34.0% of revenue
    Attended/semi-attended: 25%+ of revenue is strong
    Lease length
    Long enough to finance comfortably
    17.0 effective years (12 firm + two 5-yr options, credited at 50%)
    SBA prefers 10+ effective years
    Utilities
    On the high side, worth confirming against usage
    $94,500 = 23.9% of revenue
    Target under 20% of revenue; above 25% is a real flag
    Rent / occupancy
    Manageable, but the NNN add-ons push it up
    $81,600 (incl. $24,000 NNN) = 20.6% of revenue
    Target under 20% of revenue
    Labor / payroll
    Right-sized for one attendant, watch if hours grow
    $44,000 = 11.1% of revenue
    Semi-attended target 10–15% of revenue
    Turns per day
    Solid utilization, not maxed out
    4.23 turns/washer/day
    Healthy band roughly 3.5–5 turns/washer/day
    Market (trade-area fit)
    Strong demographics undercut by a very close competitor
    68% renter, median household income $89,258, nearest competitor 0.4 miles
    A competitor under 0.5 miles meaningfully raises share-of-wallet risk, even with strong renter/income numbers
    Location & market
    Balanced trade area overall
    10 comparable laundromats within radius, 50,300 residents
    Informational context alongside the Market dimension above

    Owner earning power — the bridge

    How we get from net operating income to true owner earning power (SDE).

    Net operating income$107,000
    + Seller-note loan paymentDebt service does not transfer.$15,000
    + DepreciationNon-cash accounting expense.$12,000
    + Owner personal vehiclePersonal use; not required to operate.$5,400
    + Owner health insurancePersonal benefit; not required to operate.$7,200
    Owner earning power (SDE)$134,600

    Note: the $44,000 attendant payroll is a real operating cost and is NOT added back.

    Watch out for

    Metered water usage (2,150,000 gal/yr) implies revenue closer to $442,199–$491,332 than the $396,000 claimed — a $70,766 gap. This is the single most important thing to resolve with the seller before moving forward: ask for 12 months of card-processor statements and coin-collection logs to reconcile it.
    NNN lease passes property tax, building insurance, and CAM through to the tenant — an extra $24,000/yr on top of base rent. Confirm escalation history on these line items.
    Seller-note payment ($15,000/yr) is added back because debt does not transfer — verify the note is paid off at close, not assumed.
    Rent escalates 2.5% annually — by year 10 base rent is roughly $73,400/yr (still inside the safe band, but model it in the projection).

    Offer tiers

    Where to open, what to target, and the price to walk away past — with reasoning.

    Opening
    $380,000
    7% below target — real starting point from the engine
    Target
    $410,000
    SDE $134,600 x 3.05 = $410,530, rounded
    Walk-away
    $470,000
    Do not go above — SDE-high x 3.55x ceiling; sits right at the top of fair value
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    AI Insights

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    Plain-English explanation of what's driving the verdict and where to push.

    This deal has real strengths — modern equipment, a genuinely long lease, and a fair asking price — but it isn't the clean story it looks like on paper. The SDE of $134,600 is solid, and the add-backs (debt service, depreciation, two clear personal items) are all defensible. The real issue is the water bill. At 2,150,000 gallons a year, the volume this store is actually running implies revenue closer to $442K–$491K — not the $396,000 claimed. That's a $70,766 gap, and it's exactly the kind of thing water usage is designed to catch. Before you go further: ask for 12 months of card-processor statements and coin-collection logs, and reconcile them against this water number yourself. If the gap resolves in your favor, this deal gets meaningfully better than it already looks. If it doesn't, ask the seller directly why the numbers don't match.

    10-Year Projection

    Pro preview

    Revenue 3%/yr, expenses 2.5%/yr — first / mid / last year shown.

    Year
    Revenue
    Expenses
    SDE
    Year 1
    $396,000
    $289,000
    $134,600
    Year 5
    $445,701
    $319,002
    $154,299
    Year 10
    $516,690
    $360,921
    $183,369

    Due Diligence checklist

    Pro preview

    What's already supplied vs. what to request from the seller next.

    • 3 years of federal tax returns (supplied)
    • 12 months of bank statements (supplied)
    • Trailing 12 water bills (supplied)
    • Equipment maintenance logs (supplied)
    • Signed lease + NNN expense reconciliation (last 24 mo) (request from seller)
    • Vendor contracts (soap, card processing, coin pickup) (request from seller)
    • Sales tax filings (state of Texas) (request from seller)
    • POS export — daily revenue by service line, last 90 days (request from seller)

    Generated report (PDF)

    Pro preview

    Bank/SBA-ready report combining all of the above into a single export.

    Lakeside Laundry & Wash-Dry-Fold — WashWise Report.pdf
    14 pages · verdict, dimensions, SDE bridge, lease summary, projection, negotiation playbook

    How will YOU run it?

    Current owner numbers vs. a buyer's reasonable first-year plan.

    Current owner
    Revenue$396,000
    Expenses$289,000
    SDE$134,600
    Your plan (year 1)
    Revenue$420,000
    Expenses$295,000
    SDE$153,000

    Modest revenue lift assumes adding pickup/delivery routes and a small vend-price catch-up on the 60lb washers. Expense lift covers one additional part-time attendant for the route ramp. This projection is separate from — and does not resolve — the water-usage revenue gap above; reconcile that first.

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