 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
16 |
2 Bed / 1 Bath |
875 |
$661 |
$10,576 |
|
16 |
|
Estimated Total
|
$10,576 |
|
|
Scheduled Gross Income
|
$126,912 |
|
|
Less: Vacancy (5%)
|
-$6,346 |
|
|
Effective Gross Income
|
$120,566 |
|
|
Plus: Laundry |
$2,950 |
|
|
Plus: Misc Fees |
$2,645 |
|
|
Effective Annual Income
|
$126,161 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
9.21%
|
$694 |
$11,109 |
|
Insurance
|
2.21%
|
$167 |
$2,666 |
|
Utilities
|
16.05%
|
$1,209 |
$19,351 |
|
Professional Management
|
4.00%
|
$301 |
$4,823 |
|
On-Site Management
|
4.70%
|
$354 |
$5,664 |
|
Repairs
|
6.64%
|
$500 |
$8,000 |
|
Turnover Reserves
|
1.86%
|
$140 |
$2,240 |
|
Landscaping
|
1.82%
|
$138 |
$2,200 |
|
Advertising
|
0.23%
|
$18 |
$283 |
|
Reserves
|
2.65%
|
$200 |
$3,200 |
|
Other
|
2.49%
|
$188 |
$3,000 |
|
Total Estimated Annual Expenses
|
51.87%
|
$3,909 |
$62,536 |
|
Estimated Net Operating Income (NOI)
|
$63,625
|
|
Cap Rate
|
7.00%
|
|
Debt Service
|
$39,100 |
|
Cash Flow
|
$24,525 |
|
Cash Return
|
10.78%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$227,500 |
|
|
Price
|
$910,000 |
|
Percent Down
|
25%
|
|
|
Units
|
16 |
|
Loan Amount
|
$682,500 |
|
|
Building Sq. Ft.
|
13,776 |
|
Interest Rate
|
4.00%
|
|
|
Price per Unit
|
$56,875 |
|
Loan Description
|
5 year fixed |
|
|
Price per Sq. Ft.
|
$66.06 |
|
|
|