| MULTI - FAMILY STAT / PROFORMA SHEET | |||||||||||
| Property Address: | Aspen Village Apts. 3608-18 Baltimore Ave. | Reece & Nichols Realtors | |||||||||
| City: | Kansas City | State: | Mo. | ZIP: | 64111 | BRICE BRADSHAW | |||||
| Date: | 4/27/2006 | Listing Price: | $905,000 | 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 | |||
| 16 | 1 | 1 | $550 | $8,800 | $105,600 | 550 | $8,800 | $105,600 | |||
| 1 | 1 | 1 | $550 | $550 | $6,600 | 550 | $550 | $6,600 | |||
| 1 | 1 | 1 | $500 | $500 | $6,000 | 550 | $550 | $6,600 | |||
| 1 | 1 | 1 | $650 | $650 | $7,800 | 650 | $650 | $7,800 | |||
| 0 | $0 | $0 | $0 | 0 | $0 | $0 | |||||
| 0 | $0 | $0 | $0 | 0 | $0 | $0 | |||||
| TOTALS | $10,500 | $126,000 | TOTALS | $10,550 | $126,600 | ||||||
| PROFORMA | ß | ß | |||||||||
| 6 | GROSS SCHEDULED INCOME: | $126,000 | % GSI | % GSI | $126,600 | ||||||
| 7 | Less Vacancy and Credit Losses: | $6,300 | ¬ | 5.0% | 5.0% | ® | $6,330 | ||||
| 8 | Other Income | $1,200 | ¬ | 1.0% | 0.9% | ® | $1,200 | ||||
| 9 | ADJUSTED GROSS INCOME (L6-(L7+L8)): | $120,900 | % AGI | % AGI | $121,470 | ||||||
| 10 | Less Accounting and Legal | $500 | ¬ | 0.4% | 0.4% | ® | $500 | ||||
| 11 | Less Advertising: | $250 | ¬ | 0.2% | 0.2% | ® | $250 | ||||
| 12 | Less Repair and Maintenance: | $9,500 | ¬ | 7.9% | 7.8% | ® | $9,500 | ||||
| 13 | Less Insurance: | $5,000 | ¬ | 4.1% | 4.1% | ® | $5,000 | ||||
| 14 | Less Management: | $9,576 | ¬ | 8.0% | 8.0% | ® | $9,622 | ||||
| 15 | Less Taxes: | $4,737 | ¬ | 3.9% | 3.9% | ® | $4,737 | ||||
| 16 | Gas | $948 | ¬ | 0.8% | 0.8% | ® | $948 | ||||
| 17 | Electric | $2,062 | ¬ | 1.7% | 1.7% | ® | $2,062 | ||||
| 18 | Water & Sewer | $2,995 | ¬ | 2.5% | 2.5% | ® | $2,995 | ||||
| 19 | Trash & Recycling | $1,008 | ¬ | 0.8% | 0.8% | ® | $1,008 | ||||
| 20 | Less Other: | Misc.and Pool | $2,000 | ¬ | 1.7% | 1.6% | ® | $2,000 | |||
| 21 | Total Expenses(sum L10 - L20): | $38,576 | ¬ | 31.9% | 31.8% | ® | $38,622 | ||||
| 22 | Net Operating Income(L9 minus L21): | $82,324 | $82,848 | ||||||||
| 23 | Less Annual Debt Service: | 56,350 | ¬ | 46.6% | 46.4% | ® | 56,350 | ||||
| 24 | Net Income (Cash Flow) L22-L23): | 25,974 | 26,498 | ||||||||
| 25 | CAP RATE (NOI ¸ PURCHASE PRICE): | 9.10% | 9.15% | ||||||||
| 26 | RETURN ON INVESTMENT (NI ¸ DOWN): | 14.35% | 14.64% | ||||||||
| Estimated Financing | |||||||||||
| Purchase Price: | $905,000 | 6.75% | :Interest | ||||||||
| 20% | Down: | $ 181,000 | 30 | :Years Amortized | |||||||
| Amount Financed: | $724,000 | $ 4,695.85 | :P&I Monthly Payment | ||||||||
| Description: | Laundry Facilities - On Contract. Each unit has it's own HWH. Basement office with phone. 2 Large Closets in each Bedroom. Dishwashers and Disposals. Forced air gas furnaces and Central air. Skylight in hallway for natural light. Secured front doors with Buzzers. 100 AMP electrical service to each unit. Owners survey with management companies show that the rents could go up to mid 600's. Large shop / work room in basement. Unit 3616 - 5 is Utilities included at $550. Tenants pay Gas and Electric, the Owner pays common utilities and Water. Built in 1972. 13 parking spaces in the lot and plenty of onstreet parking. 18 units have hardwood floors and 1 has carpet. Swimming pool for tenant use. | ||||||||||
| Information deemed reliable but not guaranteed | |||||||||||