MULTI - FAMILY STAT / PROFORMA SHEET

Property Address:

The Ramona 2614 East 9th

Reece & Nichols Realtors

City:

Kansas City

State:

Zip

BRICE BRADSHAW

Date:

Listing Price:

$183,000

Phone:

913-901-6305

MLS No.

Fax:

913-901-6450

Directions:

BILL HARGIS 913-901-6352

www.kccommercial.net

Unit Description

Current Rental Data

Market Rental Data

# of Units

# Bed

# Bath

Unit Rent

Mo. Rent

Yearly Rent

Unit Rent

Mo. Rent

Yearly Rent

$375

$4,500

$425

$5,100

$405

$4,860

$425

$5,100

$425

$1,700

$20,400

$425

$1,700

$20,400

TOTALS

$2,480

$29,760

TOTALS

$2,550

$30,600

PROFORMA

GROSS SCHEDULED INCOME:

$29,760

% GSI

$30,600

Vacancy and Credit Losses:

$1,488

5.0%

$1,530

Other Income:

0.0%

ADJUSTED GROSS INCOME (L6-(L7+L8)):

$28,272

% AGI

$29,070

Accounting and Legal:

0.0%

Advertising:

0.0%

Repair and Maintenance:

$3,000

10.6%

10.3%

$3,000

Insurance:

$1,800

6.4%

6.2%

$1,800

Management:

$2,262

8.0%

$2,326

Taxes:

$1,100

3.9%

3.8%

$1,100

Refuse:

$720

2.5%

$720

Electric:

$550

1.9%

$550

Gas:

0.0%

Water & Sewer:

$1,250

4.4%

4.3%

$1,250

Other:

0.0%

Total Expenses(sum L10 - L20):

$10,682

37.8%

37.0%

$10,746

Net Operating Income(L9 minus L21):

$17,590

$18,324

Less Annual Debt Service:

12,417

43.9%

42.7%

12,417

Net Income (Cash Flow) L22-L23):

5,174

5,908

CAP RATE (NOI ¸ PURCHASE PRICE):

9.61%

10.01%

RETURN ON INVESTMENT (NI ¸ DOWN):

14.14%

16.14%

Estimated Financing

Purchase Price:

$183,000

7.00%

:Interest

20%

Down:

$ 36,600

:Years Amortized

Amount Financed:

$146,400

$ 1,034.72

:P&I Monthly Payment

Description:

Nice collinaded 6 plex in the Historic Northeast section of Kansas City, Missouri. This complex is 100% occupied with great tenants. Property has a large parking lot and has had numerous improvements made in the last 14 months which include: new roof, new back stairs, front column, porch and railing work, most units redone, new carpeting in most units, tuckpointing and some exterior painting. Each unit has its own forced air gas furnace and individual water heaters. Each unit is separately metered for gas and electric. Property sits just to the east of downtown KCMO with easy access to downtown, I-70 and I-35. Property is owned by the wife of listing agent who is a licensed agent in Missouri and a licensed broker in Kansas.

This property summary includes assumptions, which represent a projection of future events and assumptions which may or may not occur. Absolutely no tax or legal advice is being implied or given. These projections may not and should not be relied upon to indicate results, which might be obtained. Income collected and expenses incurred will vary depending upon the type of management employed. Therefore, all information provided is solely for the purpose of permitting parties to determine whether or not the property is of such type and general character as might interest them in this purchase, and Reece and Nichols and Nichols Realtors/Hargis Real Estate Group makes no warranty as to the accuracy of such information. Interested persons are expected to acquaint themselves with the property and arrive at their own conclusions as to physical condition, number and occupancy of revenue producing units, estimates of operating costs, tax matters and any factors having to do with the valuation of property.