 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
2 |
1 Bedroom / 1 Bath |
0 |
$600 |
$1,200 |
|
8 |
2 Bedroom / 1 Bath |
0 |
$760 |
$6,085 |
|
10 |
|
Estimated Total
|
$7,285 |
|
|
Scheduled Gross Income
|
$87,420 |
|
|
Less: Vacancy (3%)
|
-$2,622 |
|
|
Effective Gross Income
|
$84,798 |
|
|
Plus: Other Income |
$1,975 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
11.19%
|
$971 |
$9,707 |
|
Insurance
|
2.56%
|
$222 |
$2,217 |
|
Utilities
|
7.10%
|
$616 |
$6,155 |
|
Repairs
|
2.31%
|
$200 |
$2,000 |
|
Turnover Reserves
|
1.61%
|
$140 |
$1,400 |
|
Landscaping
|
0.69%
|
$60 |
$600 |
|
Advertising
|
0.21%
|
$19 |
$185 |
|
Reserves
|
1.61%
|
$140 |
$1,400 |
|
Total Estimated Annual Expenses
|
27.29%
|
$2,366 |
$23,664 |
|
Estimated Net Operating Income (NOI)
|
$63,108
|
|
Cap Rate
|
5.70%
|
|
Debt Service
|
$50,050 |
|
Cash Flow
|
$13,058 |
|
Cash Return
|
3.40%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$385,000 |
|
|
Price
|
$1,100,000 |
|
Percent Down
|
35%
|
|
|
Units
|
10 |
|
Loan Amount
|
$715,000 |
|
|
Building Sq. Ft.
|
7,936 |
|
Interest Rate
|
7%
|
|
|
Price per Unit
|
$110,000 |
|
Loan Description
|
Interest Only |
|
|
Price per Sq. Ft.
|
$138.61 |
|
|
|