Page 26 - Flats on 12 OM - draft

Flats on 12
R
I
O
D
S
I
E
P PRESIDIO
7

8
7
I
0
F
X
0
1
D
E
5
H
B
3 3150 FINFEATHER ROAD BRYAN, TX 77801 1
F
T

O
A
R
R
N
Y

T

A

R
N
E
,
A
Y
A
M
A
S SUBMARKET T B BRYAN N
B
R
E
K
R
U
Proforma P Property Information n T Tax Information n C Current Unit Mix (Consolidated by Floor Plan) )
r
i
t
t
o
f
u
r
o
a
r
m
y
I
n
I
m
n
o
r
f

o
a
x
a

i
t
F
n
r

s
p
P
r
C

o
l
d
e
t
b

y
l
o
o
a
d
i
n
o
e
o
t
i
n
e
r
U

t
n
x
a

(
M

l
i
Units 296 2017 Appraised Value $24,000,000 T TOTAL L M MONTHLY RENT T M MONTHLY RENT T
Y
L
T
H

L
N
R
H
E
N
N
O

T
N
E
O
A
R
O
Y
T
N
I
Y
P

F
T
Q
T TYPE E U UNITS S S SQ FT T
N
I
R
U
/
/
T
M
M
S
F
Year Completed 2005 2016 Appraised Value $22,975,616 N NRA A / /UNIT/MO O / /SF/MO O
Total NRA 262,368 Year 1 Tax Rate 2.4650
a
x
I

D
Avg. SF 886 T Tax ID# # 1 BR 136 676 91,972 $848 $1.25
Total Land 623,518 302626 2 BR 148 1,053 155,816 $1,158 $1.10
Total Acreage 14.31 3 BR 12 1,215 14,580 $1,436 $1.18
Units/Acre 20.68
2
0
9
/
,
,
6
3
1
L
1
8
6
1
A
T
2
V
O
.
A
Occupancy 81% T TOTAL/AVG G 2 296 6 8 886 6 2 262,368 8 $ $1,027 7 $ $1.16 6
S
F FINANCIAL ANALYSIS S
A
Y
A
L
N
L

A
A
I
C
N
I
N
I
F
O
P PROFORMA A
R
O
R
M
M
N
I INCOME E % of GSR Totals Per Unit Per SF Per Month
O
C
,
,
3
0
1
9
3
,
4
7
0
0
4
1
0
9
1
.
.
9
0
,
%
2
3
1
5
6
5
c
S

n
o
s
d
s
R
u

e
r
d
e
e
l
G Gross Scheduled Rent t 1 100.00% $ $3,719,437 7 $ $12,566 6 $ $14.18 8 $ $309,953 3
h
Less: (Gain)/Loss-to-Lease 1.00% 37,194 126 0.14 3,100
5
4
0
4
8
0
0
1
.
8
2
,
6
3
,
0
3
,
4
%
2
2
4
1
,
.
9
6
n
P

s
l
n
I
i
t
G Gross Potential Income e 9 99.00% $ $3,682,242 2 $ $12,440 0 $ $14.03 3 $ $306,854 4

s
o
e
r
t
m
c
o
o
a
Less: Vacancy 5.00% 185,972 628 0.71 15,498
Less: Non-Revenue Units 1.75% 65,090 220 0.25 5,424
Less: Collection Loss 0.50% 18,597 63 0.07 1,550
Less: Concessions 0.25% 9,299 31 0.04 775
T Total Rental Income e 9 91.50% $ $3,403,285 5 $ $11,498 8 $ $12.97 7 $ $283,607 7
0

1
1
,
,

t
,
4
3
m
l
6
a
8
I
9
o
l
2
,
3
a
t
4
0
1
2
n
0
2
3
n
.
1
%
c
o
8
5
R
.
9
e
% of GSR Totals Per Unit Per SF Per Month
Plus: RUBS Income 2.30% 85,369 288 0.33 7,114
Plus: Other Income 6.53% 242,736 820 0.93 20,228
Total Other Income 8.82% 328,105 1,108 1.25 27,342
1
3
9
%
0
0
2
0
2
3
,
2
.
.
6
4
1
,
0
4
7
3
,
3
3
,
1
9
1
G
e
I
o
c
o

f
s
m
e
s
t
c
f
r

v
i
n
E Effective Gross Income e 1 100.32% $ $3,731,390 0 $ $12,606 6 $ $14.22 2 $ $310,949 9
S
E
N
E
X
P
E EXPENSES S % of EGI Totals Per Unit Per SF Per Month
Repairs and Maintenance 5.55% $207,200 $700 $0.79 $17,267
Payroll 9.52% 355,200 1,200 1.35 29,600
Administrative 1.19% 44,400 150 0.17 3,700
Marketing 2.97% 111,000 375 0.42 9,250
Utilities 3.79% 141,272 477 0.54 11,773
x
l
.
T Total Variable Expenses s 2 23.02% $ $859,072 2 $ $2,902 2 $ $3.27 7 $ $71,589 9
3

,
E
0
o
2
e
e
p
9

a
b
7
e
V
%
l
8
r
i
9
7
5
a
8
5
,
0
3
n
a
1
t
2
s
.
0
2
,
Taxes 16.65% 621,177 2,099 2.37 51,765
Franchise Tax 0.33% 12,351 42 0.05 1,029
Insurance 2.18% 81,400 275 0.31 6,783
Management Fee 3.00% 111,942 378 0.43 9,328
e
4
g
.
6
n
.
%
6
O
,
p

1
4
,

1
8
5
4
6
9
i
4
,
5
n
9
e
t
t
a
o
x
l
r
,
a
p
8
5
1
0
E
s
9
e
T Total Operating Expenses s 4 45.18% $ $1,685,942 2 $ $5,696 6 $ $6.43 3 $ $140,495 5
Plus: Capital Reserves 1.59% 59,200 200 0.23 4,933
2
4
1
5
,
4
E
7
,
1
x
5
,
l
4

e
p
n
e
s
7
%
7
6
.
8
t
,
.
o
6
9
5
6
4
T Total Expenses s 4 46.77% $ $1,745,142 2 $ $5,896 6 $ $6.65 5 $ $145,429 9
1
a
r
N Net Operating Income e $ $1,986,248 8 $ $6,710 0 $ $7.57 7 $ $165,521 1
i
n
t
a
p

O
5
t
2
e
e
,
,
2
4
8
1
6
6
7
.
5
,
7
1
9
I
n
c
g
5

6
1
,
m
o
ARA Newmark ♦ 1700 Post Oak Blvd, 2 BLVD Place, Suite 400 ♦ Houston, Texas 77056 ♦ T 713.599.1800 ♦ F 713.599.1801 ♦ www.aranewmark.com
This information has been derived from sources deemed reliable. However, it is subject to errors, omissions, price change and/or withdrawal, and no warranty is made as to the
accuracy. Further, no warranties or representation shall be made by ARA Newmark and/or its agents, representatives or affiliates regarding oral statements which have been
Financial Analysis
26 made in the discussion of the above property. This presentation, prepared by ARA Newmark, was sent to the recipient under the assumption that s/ he is a buying principal. Any
potential purchaser is advised that s/ he should either have the abstract covering the real estate which is the subject of the contract examined by an attorney of his/her selection,
or be furnished a policy of title insurance.
www.aranewmark.com