MULTI - FAMILY STAT / PROFORMA SHEET

Property Address:

3214-20 St. John

Reece & Nichols Realtors

City:

Kansas City

State:

Mo.

Zip

BRICE BRADSHAW

Date:

81506

Listing Price:

$419,000

Phone:

913-219-7074

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

$550

$1,100

$13,200

475

$950

$11,400

$450

$1,800

$21,600

475

$1,900

$22,800

$425

$1,700

$20,400

475

$1,900

$22,800

$400

$4,800

475

$475

$5,700

$375

$4,500

475

$475

$5,700

TOTALS

$5,375

$64,500

TOTALS

$5,700

$68,400

PROFORMA

GROSS SCHEDULED INCOME:

$64,500

% GSI

$68,400

Less Vacancy and Credit Losses:

$3,225

5.0%

$3,420

Other Income

$1,100

1.7%

1.6%

$1,100

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

$62,375

% AGI

$66,080

Less Accounting and Legal

$300

0.5%

$300

Less Advertising:

$100

0.2%

$100

Less Repair and Maintenance:

$3,600

5.8%

5.4%

$3,600

Less Insurance:

$3,735

6.0%

5.7%

$3,735

Less Management:

$4,902

8.0%

$5,198

Less Taxes:

$1,662

2.7%

2.5%

$1,662

Trash & Pest Control

$1,300

2.1%

2.0%

$1,300

Electric

$1,100

1.8%

1.7%

$1,100

Heating Fuel

$3,500

5.6%

5.3%

$3,500

Water & Sewer

$3,800

6.1%

5.8%

$3,800

Less Other:

0.0%

Total Expenses(sum L10 - L20):

$23,999

38.5%

36.8%

$24,295

Net Operating Income(L9 minus L21):

$38,376

$41,785

Less Annual Debt Service:

28,429

45.6%

43.0%

28,429

Net Income (Cash Flow) L22-L23):

9,947

13,355

CAP RATE (NOI ¸ PURCHASE PRICE):

9.16%

9.97%

RETURN ON INVESTMENT (NI ¸ DOWN):

11.87%

15.94%

Estimated Financing

Purchase Price:

$419,000

7.00%

:Interest

20%

Down:

$ 83,800

:Years Amortized

Amount Financed:

$335,200

$ 2,369.12

:P&I Monthly Payment

Description:

VERY NICE 2 BUILDING COMPLEX. MUCH UPSIDE POTENTIAL. THE PROPERTY FEATURES OFF-STREET PARKING WITH 4 COVERED PARKING SPOTS. THE COMPLEX IS LOCATED IN THE HISTORIC NORTHEAST AREA OF KANSAS CITY WITHIN 2 BLOCKS OF THE JOHN F. KENNEDY MEMORIAL PARK, THE ST JOHN FOUNTAIN AND THE KANSAS CITY MUSEUM. SOME RENTS SHOULD GO UP TO STAY WITH THE MARKET. THE BUILDINGS ARE IN VERY GOOD SHAPE.

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 interst 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 themsleves 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.