Page 141 - Guardian Broker Questionnaire Summary Complete Package 2 2 22_Neat

03 VALUATION GUARDIAN PLACE

GUARDIAN PLACE II - CASH FLOW

2023 2024 2025 2026 2027 2028 2029
YEAR ENDING: PER UNIT YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7
REVENUE
Gross Potential $12,195 $1,402,430 $1,458,528 $1,502,283 $1,547,352 $1,593,773 $1,641,586 $1,690,833
Vacancy ($244) ($28,049) ($29,171) ($30,046) ($30,947) ($31,875) ($32,832) ($33,817)
Concessions ($89) ($10,226) ($4,558) ($4,695) ($4,835) ($4,981) ($5,130) ($5,284)
Effective Gross Income $11,862 $1,364,156 $1,424,799 $1,467,543 $1,511,569 $1,556,917 $1,603,624 $1,651,733
Bad Debt ($18) ($2,046) ($2,137) ($2,201) ($2,267) ($2,335) ($2,405) ($2,478)
Net Rental Income $11,844 $1,362,110 $1,422,662 $1,465,342 $1,509,302 $1,554,581 $1,601,219 $1,649,255
Housekeeping Revenue $40 $4,651 $4,744 $4,839 $4,936 $5,035 $5,135 $5,238
Storage Rental Fees $38 $4,406 $4,495 $4,584 $4,676 $4,770 $4,865 $4,962
Cable Income $106 $12,240 $12,485 $12,734 $12,989 $13,249 $13,514 $13,784
Miscellaneous Income $28 $3,195 $3,259 $3,324 $3,390 $3,458 $3,527 $3,598
Total Other Income $213 $24,492 $24,982 $25,482 $25,991 $26,511 $27,041 $27,582
Total Revenue $12,057 $1,386,602 $1,447,644 $1,490,824 $1,535,293 $1,581,092 $1,628,260 $1,676,837
OPERATING EXPENSES
Controllable Expenses
Payroll ($2,249) ($258,630) ($263,803) ($269,079) ($274,460) ($279,950) ($285,549) ($291,260)
Repairs & Maintenance ($940) ($108,124) ($110,287) ($112,492) ($114,742) ($117,037) ($119,378) ($121,765)
Utilities ($1,254) ($144,219) ($147,103) ($150,045) ($153,046) ($156,107) ($159,229) ($162,414)
General & Administrative ($511) ($58,783) ($59,958) ($61,157) ($62,381) ($63,628) ($64,901) ($66,199)
Marketing ($223) ($25,689) ($26,202) ($26,727) ($27,261) ($27,806) ($28,362) ($28,930)
Total Controllable Expenses ($5,178) ($595,444) ($607,353) ($619,500) ($631,890) ($644,528) ($657,419) ($670,567)
Fixed Expenses
Management Fees ($482) ($55,464) ($57,906) ($59,633) ($61,412) ($63,244) ($65,130) ($67,073)
Insurance ($555) ($63,874) ($65,152) ($66,455) ($67,784) ($69,140) ($70,523) ($71,933)
Other Taxes and Fees ($30) ($3,393) ($3,460) ($3,530) ($3,600) ($3,672) ($3,746) ($3,821)
Real Estate Taxes ($1,149) ($132,095) ($136,084) ($140,194) ($144,428) ($148,789) ($153,283) ($157,912)
Total Fixed Expenses ($2,216) ($254,826) ($262,602) ($269,811) ($277,224) ($284,845) ($292,681) ($300,739)
Total Operating Expenses ($7,394) ($850,270) ($869,955) ($889,312) ($909,114) ($929,373) ($950,100) ($971,306)
Net Operating Income $4,664 $536,332 $577,689 $601,512 $626,180 $651,719 $678,160 $705,531
Capital Reserve ($250) ($28,750) ($29,325) ($29,912) ($30,510) ($31,120) ($31,742) ($32,377)
NOI (after reserve) $4,414 $507,582 $548,364 $571,601 $595,670 $620,599 $646,418 $673,154

12