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Novogradac

Audits and advises projects funded by tax credits

Real Estate Analyst Intern

Winter 2026
$18 - $20/hr
Internship
Bachelor's
Bethesda, MD, USA
In PersonDomestic travel is required as needed, including travel to designated sites for in-person visits.
Real EstateAppraisal & Valuation

About the job

Requirements
  • In process of earning a bachelor's degree in a related area.
  • Be comfortable conducting telephone interviews and synthesizing information in written narrative form.
  • Demonstrate strong analytical skills, including the ability to gather information, conduct analyses, and present findings.
  • Have solid organizational and follow-through skills, performing work accurately with strong attention to detail.
  • Be able to meet deadlines and effectively prioritize a fast-paced and varied workload with concurrent and shifting priorities.
  • Have strong computer skills, including solid proficiency in the Microsoft Office suite, preferably with advanced Excel skills.
  • Be available for domestic travel as needed, including the ability to drive or travel by air, rail, or other transportation methods to reach designated sites for in-person visits.
Responsibilities
  • Conduct basic economic and locational research regarding market areas through telephone interviews and internet resources.
  • Perform apartment property interviews, screenings, market analysis, comparable property surveys, and demand analysis.
  • Conduct phone interviews with local housing authorities, planners, senior centers, and chambers of commerce to identify problems and understand market demand.
  • Interview apartment property managers of market-rate, low-income housing tax credit, and subsidized apartment properties to gather property-specific information and general market conditions.
  • Gather information on new multifamily developments by speaking to developers and searching newspapers and the internet; identify subsidized, tax-credit, and market-rate comparables.
  • Request information from appraisers and brokers on existing multifamily and land-sale comparables.
  • Analyze market-area demographic information and economic trends, including employment, average wages, median incomes, and their relationship to affordable-housing demand.
  • Assist in writing market studies and appraisals of proposed and existing real estate developments.
  • Analyze the general housing market by comparing renting and buying a home, reviewing building construction, and evaluating apartment market studies from other sources.
  • Quantify excluded properties in the market area.
  • Perform occasional administrative tasks, such as filing.
  • Assist with other duties, projects, or partner requests as assigned.
Desired Qualifications
  • Experience in real estate research, multifamily market analysis, or commercial appraisal.
  • Advanced skill in Microsoft Excel.

About the company

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Novogradac

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Novogradac provides accounting, tax, valuation and consulting services for businesses and projects financed with tax credits and other incentives. Developers, investors, nonprofits and public agencies pay fees for audits, partnership tax returns, financial forecasts and advice on structuring investments. The firm also prepares tax credit applications and cost certifications, while its valuation specialists produce market studies, feasibility analyses and appraisals. Its work covers affordable housing, community development, historic preservation, renewable energy and opportunity zones, where investment incentives help finance projects. Founded in 1989, Novogradac is headquartered in San Francisco, California.

Company Size

501-1,000

Company Stage

N/A

Total Funding

N/A

Headquarters

San Francisco, CA

Founded

1989

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Simplify Jobs

Simplify's Take

What believers are saying

  • Credential incentives support accounting careers: senior audit and tax roles advertise CPA bonuses and retirement profit-sharing.
  • August 2026's estimator forecasts eligibility for a 30% increase in housing-credit eligible costs before final government designations.
  • More than 25 offices, including Dover and El Paso, give clients access beyond major financial centers.

What critics are saying

  • Boston audit/tax seniors must be available evenings and weekends, with domestic travel required according to position needs.
  • July 2026's construction cutoff leaves newer wind and solar clients facing a December 2027 tax-credit eligibility deadline.
  • CohnReznick's 75-plus affordable-housing partners create substantial competition for Novogradac's housing audit and advisory clients.

What makes Novogradac unique

  • Policy feedback runs through a dedicated opportunity-zone working group, which submitted Treasury transition recommendations in July 2026.
  • Free rent and income calculators turn published housing limits into property-specific outputs.
  • Housing-compliance certification builds repeat training relationships: Novogradac's designations last three years and renew through paid workshops.

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Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • Flexible Work Hours
  • Remote Work Options
  • Paid Holidays
  • Hybrid Work Options
  • 401(k) Retirement Plan
  • Profit Sharing
  • Performance Bonus

Company News

PR Newswire
Oct 14th, 2026
Novogradac promotes nine new principals, expanding its nationwide expertise.

Novogradac promotes nine new principals, expanding its nationwide expertise. Oct 14, 2026, 11:00 ET SAN MATEO, Calif., Oct. 14, 2026 /PRNewswire/ - National accounting and consulting enterprise Novogradac elevated nine managers to principal Sept. 1-Alex Aydin of the Cleveland office; Ali Gatrell and Caleb Stein of the Dover, Ohio, office; Aaron Hanks of the St. Louis office; Vina Hurst of the Walnut Creek, California, office; Micah Larimer of the Portland, Oregon, office; Yie Li and Christie Webb of the Atlanta office; and Tony Morales of the New York City office. "My partners and I are honored to recognize this hard-working group of professionals," said Michael J. Novogradac, managing partner of Novogradac. "Novogradac has a long tradition of promoting from within, which ensures clients continue to receive proven expertise as the firm continues to grow." Aydin joined Novogradac in 2012 and specializes in transaction consulting and the preparation of financial forecasts for multi-layered, complex community development projects. Her expertise includes the new markets tax credit (NMTC), historic tax credit (HTC) and opportunity zones investments, many of which consist of public/private partnerships with diverse capital stacks. Aydin has consulted on and prepared financial models for hundreds of transactions, many including combining state and local grants/loans, tax increment financing, Property Assessed Clean Energy financing and federal subsidies with various tax credit programs. Aydin also leads Novogradac's bookkeeping services practice, which provides accounting and financial reporting support to clients across a variety of industries. She has advised clients on all aspects of NMTC and HTC compliance and provided on-site training. Her experience includes providing audit, tax, compliance consulting and various attestation services within the tax credit real estate industry. Aydin received a bachelor's degree in accounting from Miami University. Gatrell specializes in NMTCs, HTCs and real estate industries. Gatrell works extensively on financial statement audits, federal and state tax return preparation, and cost certification audits for HTC transactions and NMTC allocation applications. She has also assisted with due diligence services on several real estate sale/purchase transactions. Gatrell has experience in employee benefit plan audits and participates in Novogradac's annual employee benefit plan training. She received a bachelor's degree in business administration with a concentration in accounting and her master's of accountancy degree from Youngstown State University. Gatrell is licensed as a certified public accountant in Ohio. Hanks specializes in NMTC and HTC investments, with an emphasis on transaction consulting, structuring and financial forecasting. He also has extensive experience with real estate compliance engagements, including tax return preparation, NMTC agreed-upon procedures and other related matters, and provides tax return preparation services for renewable energy tax credit (RETC) investments. Hanks received his bachelor's and master's degrees in accountancy from Southern Illinois University-Edwardsville and is a licensed certified public accountant in Missouri. Hurst is a principal with Novogradac & Company LLP in the Walnut Creek, California, office. She provides attest, tax and consulting services to clients in the renewable energy sector. She specializes in complex tax equity structures and clean energy financing and has extensive experience advising clients on accounting, tax and compliance matters. Hurst earned a bachelor's degree in economics and accounting from California State University, East Bay. She is licensed in California as a certified public accountant. Larimer joined Novogradac in 2017. He focuses on providing audit, tax and consulting services to the real estate industry, predominantly in the low-income housing tax credit (LIHTC), RETCs, HTC and NMTC worlds. Larimer's attest experience includes the preparation of traditional year-end audits, final cost certification audits, forecast preparation of new LIHTC, HTC or NMTC developments and various agreed-upon procedures. Larimer's tax preparation experience includes the preparation of partnership (1065), S-Corporation (1120-S), C-Corporation (1120), nonprofit (990) and personal (1040) tax returns. Larimer earned his bachelor's degree in accounting from Brigham Young University. Li, who joined Novogradac in 2014, specializes in financial statement audits and tax services for the RETC and LIHTC arenas. She is experienced with nonprofit organizations, including those subject to the requirements of U.S. Department of Housing and Urban Development (HUD) and Office of Management and Budget Uniform Guidance. She received a master's degree in accountancy from Georgia State University. Morales joined Novogradac in 2015. He is experienced in providing audit and tax services for LIHTC and HUD properties and related investment partnerships, tax credit investment funds and special purpose engagements for LIHTC transactions. Morales received a master's degree in accounting and taxation from Florida Gulf Coast University and is licensed in New York as a certified public accountant. Stein specializes in RETCs, working with developers, syndicators and investors on the structuring and financing of transactions. Stein, who joined Novogradac in 2017, performs numerous services related to RETCs, including transaction consulting, financial forecasting and cost segregation studies. He also provides financial statement audits, tax return preparation and agreed-upon procedures related to renewable energy transactions. Stein is a frequent speaker at renewable energy conferences and provides his clients with on-site training programs. He earned a bachelor's degree in accounting and a master's degree in business administration from Ashland University and is licensed as a certified public accountant in Ohio. Webb, who joined Novogradac in 2010, has experience in real estate partnership audit and taxation. Webb is experienced in NMTCs and affordable housing developments, including those subject to the auditing requirements of HUD. She received her bachelor's degree in business administration with an emphasis in accounting from North Georgia College & State University. She is licensed in Georgia as a certified public accountant. About Novogradac Novogradac, which has been in business for more than 35 years, has grown to more than 800 employees and partners with offices in more than 25 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, community development, historic rehabilitation and renewable energy. For additional information on Novogradac's personnel and areas of expertise, visit www.novoco.com or call (415) 356-8000. SOURCE Novogradac & Company LLP

Novogradac & Company LLP
Sep 29th, 2026
Sept. 29, 2026: Tax Credit transfer market update: lessons learned and market insights.

Sept. 29, 2026: Tax Credit transfer market update: lessons learned and market insights. On this episode of Tax Credit Tuesday's Renewable Energy Tax Credit (RETC) Finance series, Michael Novogradac, CPA, and Novogradac Partner Tony Grappone, CPA, discuss the current state of the RETC market. They take a retrospective look at 2025, comparing transfer activity with 2024. The two also look to 2026 and beyond, exploring pricing trends, transaction timing and the most significant opportunities and challenges facing the transfer market as it continues to mature. Novogradac and Grappone conclude the episode by discussing the potential impacts of the mid-term elections Nov. 3, immediately after which Novogradac will host its 2026 Fall Renewable Energy Tax Credits Conference in Washington, D.C. 0:00 / 39:51

PR Newswire
Aug 13th, 2026
Novogradac conference to cover how state, federal lihtcs can be used to support Affordable Housing development in Hawai'i.

Novogradac conference to cover how state, federal lihtcs can be used to support Affordable Housing development in Hawai'i. Aug 13, 2026, 11:00 ET Novogradac to Host 2026 Fall Affordable Housing Conference, Sept. 16-17 in Honolulu SAN FRANCISCO, Aug. 13, 2026 /PRNewswire/ - Industry professionals in the affordable housing sector will come together to discuss how the state and federal low-income housing tax credit (LIHTC) can be used alongside other financing tools to support developments in Hawai'i at the Novogradac 2026 Fall Affordable Housing Conference, Sept. 16-17 at the Hyatt Regency Waikīkī Beach Resort and Spa in Honolulu. This conference brings together developers, housing agencies, lenders, investors and other stakeholders focused on creating and preserving affordable housing throughout the state for timely education and connection. Industry experts will address topics such as partnership fundamentals, Hawai'i-specific policy and market considerations, practical takeaways for moving investments forward and more. Planned sessions include the Washington Report, debt and equity panels, a panel that will discuss the benefits and challenges of building and rehabilitating affordable housing in Hawai'i, a housing strategy panel, and a discussion of various alternative and gap financing sources. The full agenda can be found here. "As communities throughout Hawai'i continue to navigate the impacts of major storms and flooding earlier this year, the need for safe and affordable housing has become more and more pronounced," said Brent Parker, a partner in Novogradac's Long Beach, California, office and chair of the conference. "This conference represents an important opportunity for affordable housing professionals to engage with one another and discuss ways of supporting the development of more affordable housing throughout the state." The Novogradac 2026 Fall Affordable Housing Conference is co-hosted by Highridge Costa, Hunt Companies Inc. and Kamaka Responsible Development. CREA, Lincoln Avenue Communities, Settle Meyer Law and Sugar Creek Capital are sponsors of the conference. Novogradac will host two pre-conference workshops Tuesday, Sept. 15. The LIHTC Basics Workshop will review the basic elements of the credit such as LIHTC participants, investment structures, timelines and more. The Running the Numbers Workshop will explore the sources and uses of a LIHTC development, taxable income and additional considerations when analyzing the return to the investor. Separate registration fees apply for the pre-conference workshops. About Novogradac Novogradac, which has been in business for more than 35 years, has grown to more than 800 employees and partners with offices in more than 25 cities. Tax, audit and consulting specialty practice areas for Novogradac include affordable housing, community development, historic rehabilitation and renewable energy. For additional information on Novogradac's personnel and areas of expertise, visit www.novoco.com or call (415) 356-8000. SOURCE Novogradac & Company LLP

Novogradac & Company LLP
Aug 5th, 2026
Plan for affordable housing development with the Novogradac Difficult Development Area Estimator.

Plan for affordable housing development with the Novogradac Difficult Development Area Estimator. Published by Wednesday, August 5, 2026 - 8:38 a.m. Recent insights. Novogradac today launched its Difficult Development Area Estimator, which allows affordable housing developers and investors to access data-driven insights into how changing market conditions may influence future difficult development area (DDA) designations by the U.S. Department of Housing and Urban Development (HUD). Background on DDAs. DDAs are areas where the costs of land, construction and utilities are high compared with the area's median gross income, making it challenging to finance the development of affordable housing without additional incentives. DDAs are officially designated by HUD, which updates these designations annually based on factors such as small area fair market rents, income limits and population data from the U.S. Census Bureau. DDA designations encourage affordable housing development in these high-cost areas by allowing developers to increase the eligible basis of low-income housing tax credit (LIHTC) developments by up to 30% for new construction and rehabilitation. Using the Novogradac Difficult Development Area Estimator. The new tool will help users assess how a property or area's future DDA status may change, providing invaluable information about potential eligibility for the 30% basis boost available to LIHTC properties. This tool is valuable because affordable housing developers often don't have the luxury of waiting until HUD releases its final designations to start assessing the financial viability of a given site. Furthermore, questions about whether a location may gain or lose DDA status can have a significant impact on a development's feasibility: It can affect the amount and availability of financing and other aspects of a location's development potential. The DDA estimator helps address that uncertainty by giving users an early, data-informed view they can consider as part of their site evaluation process. Along with the Novogradac Qualified Census Tract Estimator, this tool expands the information available to users reviewing potential designation changes across different markets. Purchasing a report. Reports generated through the Novogradac Difficult Development Area Estimator are available for individual HUD-defined areas, with bulk ordering options for organizations evaluating multiple markets or properties. By purchasing one or more reports created with the Novogradac Difficult Development Area Estimator, affordable housing stakeholders can better understand how potential changes in DDA status could affect development economics. Stay current on latest industry news and updates

Roanoke-Chowan News-Herald
Jan 6th, 2026
Northampton receives NMTC funding for high school

Northampton receives NMTC funding for high school. Money will help offset the county's $4.19 million commitment to the project. JACKSON - Northampton County Schools has secured New Markets Tax Credit (NMTC) funding which will help lessen the amount that the county will have to contribute to the new high school construction project. 0:24 "It's an expected net benefit of $2 million which will reduce the county's potential obligation," explained Northampton County Attorney Scott McKellar during the Board of Commissioners' meeting held here on Monday night (Jan. 5). In order to receive those funds, however, a $25,000 deposit had to be made to Self Help Ventures, the community development entity offering the NMTC funding, and $5,000 to Novogradac & Co, the CPA firm handling the transaction. McKellar explained these deposits are for upfront costs, such as legal fees, for the closing of the transaction, which is expected to be in the spring. After closing, that $30,000 total deposit will be reimbursed to the county along with the $2 million NMTC allocation. McKellar explained to the commissioners that the deadline to make the deposits was last month, and since the commissioners did not have a second meeting in December, Northampton County's Board of Education paid the deposit instead. "It was a time crunch. We had to act fast because we didn't want to lose the money," McKellar explained, noting that they reached this conclusion after discussions with the school board's attorneys. When the Northampton County Board of Education met on December 15, they unanimously approved paying the $30,000 deposit. Superintendent Dr. Rosa Atkins told the school board that they would use funds from the school district's capital projects account to pay the deposit. At the January 5 commissioner meeting, the board considered reimbursing the school district for making the $30,000 deposit. Commissioner Keith Edwards asked where those funds would be allocated from. County Manager Julian Phillips stated that the $30,000 reimbursement would come from the county's contingency funds. "We're talking $2 million of ultimately free money coming to the county to help fund this new high school," McKellar emphasized, and noted that there could be more potential NMTC funds in the future. "All of this is good news." Commissioner Kelvin Edwards motioned to approve the $30,000 reimbursement, and Melvetta Broadnax Taylor seconded. The vote was unanimously in favor. As previously reported by the News Herald, the Northampton Commissioners agreed in January 2025 to commit $4.19 million to the high school construction project (along with an estimated $1.2 million in sales tax reimbursement from the construction) to cover the project's funding shortfall after the district's first attempt to secure NMTC funding was unsuccessful. The agreement allowed the district to move forward and begin construction. In 2022, the district received $50 million from the state's Needs-Based Public School Capital Fund to construct a new centrally-located high school. In 2023, the state added additional money to the project in response to rising costs from inflation, bringing the total for the high school project to $62 million. The money from that grant came from the state's lottery fund. The new school will be located on Highway 305 just outside of the Jackson town limits. After breaking ground in March 2025, the building is currently under construction with a target opening date of the 2026-2027 school year. The NMTC program was created by the federal government several years ago in order to attract wealthy individual and corporate investors to low-income communities. Those investors receive tax credits in return for investing in intermediaries called "community development entities," who then invest the funds in projects in low-income areas. The US Treasury awards only a certain amount of New Markets Tax Credits each year. NMTC funds have previously been used to construct other schools in North Carolina, including a high school in Jones County.