 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
2 |
2 Bedroom / 1 Bath |
920 |
$783 |
$1,566 |
|
1 |
2 Bedroom / 1.5 Bath |
1,061 |
$795 |
$795 |
|
2 |
3 Bedroom / 1 Bath |
1,107 |
$875 |
$1,750 |
|
5 |
|
Estimated Total
|
$4,111 |
|
|
Scheduled Gross Income
|
$49,332 |
|
|
Less: Vacancy (5%)
|
-$2,467 |
|
|
Effective Gross Income
|
$46,865 |
|
|
Plus: Est. Laundry & Misc. Fees |
$1,080 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
11.68%
|
$1,095 |
$5,473 |
|
Insurance
|
2.13%
|
$200 |
$1,000 |
|
Utilities
|
10.67%
|
$1,000 |
$5,000 |
|
Professional Management
|
7.00%
|
$656 |
$3,280 |
|
Repairs
|
4.27%
|
$400 |
$2,000 |
|
Landscaping
|
1.60%
|
$150 |
$750 |
|
Reserves
|
2.67%
|
$250 |
$1,250 |
|
Total Estimated Annual Expenses
|
40.01%
|
$3,751 |
$18,753 |
|
Estimated Net Operating Income (NOI)
|
$29,192
|
|
Cap Rate
|
6.56%
|
|
Debt Service
|
$21,814 |
|
Cash Flow
|
$7,378 |
|
Cash Return
|
5.53%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$133,500 |
|
|
Price
|
$445,000 |
|
Percent Down
|
30%
|
|
|
Units
|
5 |
|
Loan Amount
|
$311,500 |
|
|
Building Sq. Ft.
|
8,422 |
|
Interest Rate
|
5.75%
|
|
|
Price per Unit
|
$89,000 |
|
Loan Description
|
10 yr. fix. |
|
|
Price per Sq. Ft.
|
$52.84 |
|
|
|