 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
75 |
Single Wide |
0 |
$420 |
$31,500 |
|
7 |
Double Wide |
0 |
$435 |
$3,045 |
|
24 |
RV |
0 |
$320 |
$7,680 |
|
106 |
|
Estimated Total
|
$42,225 |
|
|
Scheduled Gross Income
|
$506,700 |
|
|
Less: Vacancy (14%)
|
-$72,205 |
|
|
Effective Gross Income
|
$434,495 |
|
|
Plus: Laundry Income |
$1,768 |
|
|
Effective Annual Income
|
$436,263 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
9.12%
|
$374 |
$39,621 |
|
Insurance
|
0.99%
|
$41 |
$4,300 |
|
Utilities
|
26.18%
|
$1,073 |
$113,769 |
|
On-Site Management
|
7.36%
|
$302 |
$31,960 |
|
Repairs
|
2.47%
|
$101 |
$10,745 |
|
Other
|
0.69%
|
$28 |
$3,000 |
|
Total Estimated Annual Expenses
|
46.81%
|
$1,919 |
$203,395 |
|
Estimated Net Operating Income (NOI)
|
$232,868
|
|
Cap Rate
|
7.06%
|
|
Debt Service
|
$143,974 |
|
Cash Flow
|
$88,894 |
|
Cash Return
|
8.89%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$1,000,000 |
|
|
Price
|
$3,300,000 |
|
Percent Down
|
30%
|
|
|
Units
|
106 |
|
Loan Amount
|
$2,300,000 |
|
|
Building Sq. Ft.
|
0 |
|
Interest Rate
|
4.75%
|
|
|
Price per Unit
|
$31,132 |
|
Loan Description
|
5 year fixed |
|
|
Price per Sq. Ft.
|
$0.00 |
|
|
|