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