| MULTI - FAMILY STAT / PROFORMA SHEET | |||||||||||
| Property Address: | 4520 Brencrest | Reece & Nichols Realtors | |||||||||
| City: | Riverside | State: | Mo. | Zip: | 64105 | BRICE BRADSHAW | |||||
| Date: | 8/1/2006 | Listing Price: | $899,000 | Phone: | 913-219-7074 | ||||||
| MLS No. | 1323855 | 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 | |||
| 1 | 2 | 1 | $595 | $595 | $7,140 | 595 | $595 | $7,140 | |||
| 1 | 2 | 1 | $525 | $525 | $6,300 | 525 | $525 | $6,300 | |||
| 3 | 2 | 1 | $495 | $1,485 | $17,820 | 495 | $1,485 | $17,820 | |||
| 4 | 2 | 1 | $475 | $1,900 | $22,800 | 495 | $1,980 | $23,760 | |||
| 14 | 2 | 1 | $422 | $5,908 | $70,896 | 495 | $6,930 | $83,160 | |||
| 1 | STUDIO | 1 | $325 | $325 | $3,900 | 325 | $325 | $3,900 | |||
| TOTALS | $10,738 | $128,856 | TOTALS | $11,840 | $142,080 | ||||||
| PROFORMA | ß | ß | |||||||||
| 6 | GROSS SCHEDULED INCOME: | $128,856 | % GSI | % GSI | $142,080 | ||||||
| 7 | Less Vacancy and Credit Losses: | $6,443 | ¬ | 5.0% | 5.0% | ® | $7,104 | ||||
| 8 | Other Income | $2,160 | ¬ | 1.7% | 1.5% | ® | $2,160 | ||||
| 9 | ADJUSTED GROSS INCOME (L6-(L7+L8)): | $124,573 | % AGI | % AGI | $137,136 | ||||||
| 10 | Less Accounting and Legal | $450 | ¬ | 0.4% | 0.3% | ® | $450 | ||||
| 11 | Less Advertising: | $120 | ¬ | 0.1% | 0.1% | ® | $120 | ||||
| 12 | Less Repair and Maintenance: | $8,000 | ¬ | 6.4% | 5.8% | ® | $8,000 | ||||
| 13 | Less Insurance: | $5,000 | ¬ | 4.0% | 3.6% | ® | $5,000 | ||||
| 14 | Less Management: | $9,793 | ¬ | 8.0% | 8.0% | ® | $10,798 | ||||
| 15 | Less Taxes: | $2,600 | ¬ | 2.1% | 1.9% | ® | $2,600 | ||||
| 16 | Trash & Pest Control | $960 | ¬ | 0.8% | 0.7% | ® | $960 | ||||
| 17 | Gas & Common Electric | $11,000 | ¬ | 8.8% | 8.0% | ® | $11,000 | ||||
| 18 | Grounds keeping | $2,400 | ¬ | 1.9% | 1.8% | ® | $2,400 | ||||
| 19 | Water & Sewer | $9,000 | ¬ | 7.2% | 6.6% | ® | $9,000 | ||||
| 20 | Less Other: | $0 | ¬ | 0.0% | 0.0% | ® | $0 | ||||
| 21 | Total Expenses(sum L10 - L20): | $49,323 | ¬ | 39.6% | 36.7% | ® | $50,328 | ||||
| 22 | Net Operating Income(L9 minus L21): | $75,250 | $86,808 | ||||||||
| 23 | Less Annual Debt Service: | 57,418 | ¬ | 46.1% | 41.9% | ® | 57,418 | ||||
| 24 | Net Income (Cash Flow) L22-L23): | 17,832 | 29,390 | ||||||||
| 25 | CAP RATE (NOI ¸ PURCHASE PRICE): | 8.37% | 9.66% | ||||||||
| 26 | RETURN ON INVESTMENT (NI ¸ DOWN): | 9.92% | 16.35% | ||||||||
| Estimated Financing | |||||||||||
| Purchase Price: | $899,000 | 7.00% | :Interest | ||||||||
| 20% | Down: | $ 179,800 | 30 | :Years Amortized | |||||||
| Amount Financed: | $719,200 | $ 4,784.86 | :P&I Monthly Payment | ||||||||
| TOTALS | THIS IS A 24 UNIT COMPLEX CONSISTING OF 3 8-UNIT BRICK AND VINYL SIDED BUILDINGS WITH A LARGE ASPHALT PARKING LOT. NEW ROOFS, GUTTERS AND DOWNSPOUTS AND DOUBLE PANED THERMAL WINDOWS WERE INSTALLED IN 2004. THERE IS A NEW LAUNDRY ROOM WITH 3 WASHERS AND DRYERS FOR THE TENANTS. ALL APARTMENTS HAVE HAD UPGRADES ON THE PAST 18 MONTHS AND MANY OF THE APPLIANCES ARE ALMOST NEW. NEW HEATING / COOLING "WINDOW TYPE" UNITS WERE INSTALLED IN 2004. THE PROPERTY IS ONLY 1 BLOCK FROM THE NEW RIVERSIDE CITY HALL, FIRE STATION, COMMUNITY CENTER AND CITY PARK. CLOSE TO THE NEW PARKHILL SOUTH HIGH SCHOOL. ONLY MINUTES FROM THE ARGOSY CASINO. | ||||||||||
| Information deemed reliable but not guaranteed | |||||||||||