 |
|
|
 |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
12 |
1 Bed / 1 Bath |
550 |
$475 |
$5,700 |
|
12 |
|
Estimated Total
|
$5,700 |
|
|
Scheduled Gross Income
|
$68,400 |
|
|
Less: Vacancy (5%)
|
-$3,420 |
|
|
Effective Gross Income
|
$64,980 |
|
|
Plus: Laundry |
$1,200 |
|
|
Plus: Misc Income |
$1,000 |
|
|
Effective Annual Income
|
$67,180 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
8.35%
|
$452 |
$5,428 |
|
Insurance
|
3.23%
|
$175 |
$2,100 |
|
Utilities
|
10.16%
|
$550 |
$6,600 |
|
Professional Management
|
7.00%
|
$379 |
$4,549 |
|
Repairs
|
5.54%
|
$300 |
$3,600 |
|
Turnover Reserves
|
1.85%
|
$100 |
$1,200 |
|
Reserves
|
4.62%
|
$250 |
$3,000 |
|
Total Estimated Annual Expenses
|
40.75%
|
$2,206 |
$26,477 |
|
Estimated Net Operating Income (NOI)
|
$40,703
|
|
Cap Rate
|
6.00%
|
|
Debt Service
|
$34,037 |
|
Cash Flow
|
$6,666 |
|
Cash Return
|
3.95%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$168,750 |
|
|
Price
|
$675,000 |
|
Percent Down
|
25%
|
|
|
Units
|
12 |
|
Loan Amount
|
$506,250 |
|
|
Building Sq. Ft.
|
6,600 |
|
Interest Rate
|
5.375%
|
|
|
Price per Unit
|
$56,250 |
|
Loan Description
|
10 yr. fix/30 yr. am. |
|
|
Price per Sq. Ft.
|
$102.27 |
|
|
|