MULTI - FAMILY STAT / PROFORMA SHEET
Property Address:		3532 Troost (The Shelby)						Reece & Nichols Realtors
City:	Kansas City		State:	MO	Zip:	66109		BRICE BRADSHAW
Date:			Listing Price:		$259,000			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
3	2	1	$450	$1,350	$16,200	495		$1,485		$17,820
1	2	1	$475	$475	$5,700	495		$495		$5,940
2	2	1	$495	$990	$11,880	495		$990		$11,880
				$0	$0	0		$0		$0
				$0	$0	0		$0		$0
				$0	$0	0		$0		$0
TOTALS				$2,815	$33,780	TOTALS		$2,970		$35,640
PROFORMA					ß					ß
6	GROSS SCHEDULED INCOME:				$33,780		% GSI	% GSI		$35,640
7	Less Vacancy and Credit Losses:				$1,689	¬	5.0%	5.0%	®	$1,782
8	Other Income				$0	¬	0.0%	0.0%	®	$0
9	ADJUSTED GROSS INCOME (L6-(L7+L8)):				$32,091		% AGI	% AGI		$33,858
10	Less Accounting and Legal				$100	¬	0.3%	0.3%	®	$100
11	Less Advertising:				$0	¬	0.0%	0.0%	®	$0
12	Less Repair and Maintenance:				$2,400	¬	7.5%	7.1%	®	$2,400
13	Less Insurance:				$1,700	¬	5.3%	5.0%	®	$1,700
14	Less Management:				$2,567	¬	8.0%	8.0%	®	$2,709
15	Less Taxes:				$0	¬	0.0%	0.0%	®	$0
16	Trash & Pest Control				$300	¬	0.9%	0.9%	®	$300
17	Electric				$480	¬	1.5%	1.4%	®	$480
18	Heating Fuel				$0	¬	0.0%	0.0%	®	$0
19	Water & Sewer				$50	¬	0.2%	0.1%	®	$50
20	Less Other:	Misc			$225	¬	0.7%	0.7%	®	$225
21	Total Expenses(sum L10 - L20):				$7,822	¬	24.4%	23.5%	®	$7,964
22	Net Operating Income(L9 minus L21):				$24,269					$25,894
23	Less Annual Debt Service:				$      17,573	¬	54.8%	51.9%	®	$   17,573
24	Net Income (Cash Flow) L22-L23):				6,695					8,321
25	CAP RATE (NOI ¸ PURCHASE PRICE):				9.37%					10.00%
26	RETURN ON INVESTMENT (NI ¸ DOWN):				12.93%					16.06%
		Estimated Financing
Purchase Price:		$259,000	7.00%	:Interest
20%	Down:	$       51,800	25	:Years Amortized
Amount Financed:		$     207,200	$       1,464.45	:P&I Monthly Payment
Description:	Wonderful historic six plex that is in great shape.  This complex has old world charm with new amenities.  Within the last 2.5 years this complex has had a new roof, new sewer line and all units have been redone.  All units have central air, dishwashers, individual hot water heaters and approximately 1100 sq.ft. in the spacious 2 bedrooms units.  Hallways have recently been repainted and the wood floors redone.  Units have individual electric meters, gas meters and the very rare individual water meters.  Complex is 100% occupied.  Plenty of off street parking in the paved parking lot.  Property is on a master key system.  The tax expense number is correct.  Property is owned by the wife of the listing agent (she owned it before they got married).  She is a licensed broker in Kansas and a licensed agent in Missouri.