Who this is for
SEO ROI models fail in two opposite ways. Optimists project hockey-stick traffic from month three; pessimists judge the channel on a six-month window where almost any honest SEO investment looks negative. The fix is modeling a conservative steady-state revenue number over a window long enough for SEO to reach it.
Put the one-time work, such as technical fixes, site migration support, and the initial content sprint, into the initial investment. Enter the monthly retainer and content budget as monthly costs, and use a deliberately conservative average for attributed monthly organic revenue across the whole period.