Fessenden Court

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Scheduled Monthly Rents

Units Type Est. SF Current Avg. Rent Monthly Income
1 3 Bedroom / 1 Bath 948 $850 $850
1 3 Bedroom / 1 Bath 948 $511 $511
1 3 Bedroom / 1 Bath 948 $650 $650
1 3 Bedroom / 1 Bath 948 $371 $371
1 3 Bedroom / 1 Bath 948 $540 $540
1 3 Bedroom / 1 Bath 948 $700 $700
1 3 Bedroom / 1 Bath 948 $675 $675
1 3 Bedroom / 1 Bath 948 $371 $371
1 3 Bedroom / 1 Bath 948 $725 $725
9   Estimated Total $2,382
  Scheduled Gross Income $64,716
  Less: Vacancy (5%) -$3,236
  Effective Gross Income $61,480
  Plus: Laundry $984
  Plus: Utility Billback $1,170
  Effective Annual Income $63,634

Estimated Expenses

 
Current
  % EGI Per/Unit Amount
Taxes 10.28% $702 $6,320
Insurance 2.60% $178 $1,600
Utilities 13.99% $956 $8,604
Professional Management 7.00% $478 $4,304
Repairs 6.59% $450 $4,050
Turnover Reserves 2.56% $175 $1,575
Landscaping 0.98% $67 $600
Reserves 3.66% $250 $2,250
Total Estimated Annual Expenses 47.66% $3,256 $29,307
Estimated Net Operating Income (NOI) $34,332
Cap Rate 6.56%
Debt Service $24,051
Cash Flow $10,281
Cash Return 6.05%

Proposed Financing   Listing Summary
Down Payment $170,000     Price $523,000
Percent Down 33%     Units 9
Loan Amount $353,000     Building Sq. Ft. 8,532
Interest Rate 5.50%     Price per Unit $58,111
Loan Description 5 yr. fix     Price per Sq. Ft. $61.30
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