MULTI - FAMILY STAT / PROFORMA SHEET
Property Address:		2841 PASEO						Brice Bradshaw
City:	KANSAS CITY		State:	MO.	Zip:	64109		Reece & Nichols Realtors
Date:			Listing Price:		$369,000			Phone:	913-901-6305
MLS No.	1140152							Fax:	913-901-6450
Directions:								bradshaw12@prodigy.net
								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
6	2	1	$450	$2,700	$32,400	450		$2,700		$32,400
6	2	1	$425	$2,550	$30,600	450		$2,700		$32,400
0	0	0	$0	$0	$0	0		$0		$0
0	0	0	$0	$0	$0	0		$0		$0
0	0	0	$0	$0	$0	0		$0		$0
0	0	0	$0	$0	$0	0		$0		$0
TOTALS				$5,250	$63,000	TOTALS		$5,400		$64,800
PROFORMA					ß					ß
6	GROSS SCHEDULED INCOME:				$63,000		% GSI	% GSI		$64,800
7	Less Vacancy and Credit Losses:				$3,150	¬	5.0%	5.0%	®	$3,240
8	Other Income				$600	¬	1.0%	0.9%	®	$600
9	ADJUSTED GROSS INCOME (L6-(L7+L8)):				$60,450		% AGI	% AGI		$62,160
10	Less Accounting and Legal:				$400	¬	0.7%	0.6%	®	$400
11	Less Advertising:				$200	¬	0.3%	0.3%	®	$200
12	Less Repair and Maintenance:				$4,800	¬	7.9%	7.7%	®	$4,800
13	Less Insurance:				$3,500	¬	5.8%	5.6%	®	$3,500
14	Less Management:				$4,788	¬	8.0%	8.0%	®	$4,925
15	Less Taxes:				$1,700	¬	2.8%	2.7%	®	$1,700
16	Trash & Pest Control				$1,180	¬	2.0%	1.9%	®	$1,180
17	Utilities				$6,200	¬	10.3%	10.0%	®	$6,200
18					$0	¬	0.0%	0.0%	®	$0
19					$0	¬	0.0%	0.0%	®	$0
20	Less Other:				$0	¬	0.0%	0.0%	®	$0
21	Total Expenses(sum L10 - L20):				$22,768	¬	37.7%	36.8%	®	$22,905
22	Net Operating Income(L9 minus L21):				$37,682					$39,255
23	Less Annual Debt Service:				$      25,892	¬	42.8%	41.7%	®	$   25,892
24	Net Income (Cash Flow) L22-L23):				11,790					13,363
25	CAP RATE (NOI ¸ PURCHASE PRICE):				10.21%					10.64%
26	RETURN ON INVESTMENT (NI ¸ DOWN):				15.98%					18.11%
		Estimated Financing
Purchase Price:		$369,000	6.25%	:Interest
20%	Down:	$       73,800	20	:Years Amortized
Amount Financed:		$     295,200	$       2,157.70	:P&I Monthly Payment
Description:	2, 3-STORY BRICK AND FRAME 6-UNIT BUILDINGS WITH STEEL SIDING.  ALL LARGE 2-BEDROOM UNITS WITH UPGRADED ELECTRICAL AND PLUMBING.  THESE BUILDINGS FEATURE FORCED AIR GAS FURNACES AND CENTRAL AIR, SECURED ENTRYWAYS, NEWER WINDOWS AND ONSITE LAUNDRY FACILITIES.  THE BUILDINGS HAVE OFFSTREET PARKING.  EACH UNIT HAS A COVERED BALCONY . 6 UNITS WERE JUST REMODELED IN MARCH OF 04' WITH MOSTLY NEW APPLIANCES AND 4 NEW FURNACES HAVE BEEN INSTALLED. MOST UNITS HAVE A BERAUTIFUL VIEW OF THE LAKE AND CITY PARK.
		Information deemed reliable but not guaranteed