 |
|
|
 |
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 |
|
|
|