 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
8 |
3 Bedroom / 1 Bath |
1,000 |
$805 |
$6,440 |
|
8 |
|
Estimated Total
|
$6,440 |
|
|
Scheduled Gross Income
|
$77,280 |
|
|
Less: Vacancy (5%)
|
-$3,864 |
|
|
Effective Gross Income
|
$73,416 |
|
|
Plus: Utility Bill Back |
$5,000 |
|
|
Plus: Storage |
$1,440 |
|
|
Effective Annual Income
|
$79,856 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
9.64%
|
$885 |
$7,077 |
|
Insurance
|
1.96%
|
$180 |
$1,440 |
|
Utilities
|
9.98%
|
$916 |
$7,328 |
|
Professional Management
|
6.00%
|
$551 |
$4,404 |
|
Repairs
|
4.09%
|
$375 |
$3,000 |
|
Turnover Reserves
|
1.91%
|
$175 |
$1,400 |
|
Landscaping
|
0.82%
|
$75 |
$600 |
|
Reserves
|
2.18%
|
$200 |
$1,600 |
|
Other
|
1.41%
|
$129 |
$1,032 |
|
Estimated Net Operating Income (NOI)
|
$51,975
|
|
Cap Rate
|
6.51%
|
|
Debt Service
|
$37,496 |
|
Cash Flow
|
$14,479 |
|
Cash Return
|
7.24%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$200,000 |
|
|
Price
|
$799,000 |
|
Percent Down
|
25%
|
|
|
Units
|
8 |
|
Loan Amount
|
$599,000 |
|
|
Building Sq. Ft.
|
8,000 |
|
Interest Rate
|
4.75%
|
|
|
Price per Unit
|
$99,875 |
|
Loan Description
|
7 yr. fix/30 yr. am. |
|
|
Price per Sq. Ft.
|
$99.88 |
|
|
|