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ANNUALIZED OPERATING DATA
Market
Scheduled Gross Income: $176,064 Less Vacancy Reserve: $5,282 Laundry Income: $726 Gross Operating Income: $171,508 Expenses: $66,001 Net Operating Income: $105,507 Loan Payments: $83,560 Pre-Tax Cash Flow: $21,948 Plus Principal Reduction: $32,034 Total Return Before Taxes: $53,982 Pre-Tax Cash Flow:
3.0%
$204,000 $6,120 $726 $198,606 $67,085 $131,521 $83,560 $47,962 $32,034 $79,996
16% Upside 3.0%
Plus Principal Reduction: Total Return Before Taxes:
PRO FORMA ANNUAL OPERATING EXPENSES
Per Unit % of SGI
Property Taxes
O-Site Management Insurance
Repairs & Maintenance Turnover
Landscaping
Pest Control
Utilities
Trash
Reserves
Total Expenses
1.200% x Sale Price 4.0% x GOI $0.30 x GSF $475 x Units $150 x Units $257 x Units
22.39% 4.00% 1.21% 1.94% 0.61% 1.05% 0.33% 3.85% 2.29% 0.82% 37.49%
$38,400 $6,860 $2,069 $3,325
$5,486 $980 $296 $475 $150 $257 $82 $943 $561 $200 $9,429
$38,400 $7,944 $2,069 $3,325 $1,050 $1,800 $572 $6,600 $3,924 $1,400 $67,085
$5,486 18.8% $1,135 3.9% $296 1.0% $475 1.6% $150 0.5% $257 0.9% $82 0.3% $943 3.2% $561 1.9% $200 0.7% $9,584 32.9%
Non-controllable expenses: Taxes, Ins., Reserves: Total Expense without Taxes
$40,469 $27,601
$5,781 $3,943
23.0% 15.68%
$82 x Units $943 x Units $561 x Units $200 x Units
(Actual) (Actual) (Actual) (Actual)
$1,050 $1,800 $572 $6,600 $3,924 $1,400 $66,001
% of SGI
Current
Per Unit
Market
Current
Per Unit
% of SGI
Current
37.5%
32.88% *
1.37% 3.37%
3.00% ** 5.00% **