| MULTI - FAMILY STAT / PROFORMA SHEET | |||||||||||
| Property Address: | 597 North Somerset Terrace | Reece & Nichols Realtors | |||||||||
| City: | Olathe | State: | Ks. | Zip: | 66062 | BRICE BRADSHAW | |||||
| Date: | Listing Price: | $312,000 | 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 | |||
| 1 | 1 | 1 | $465 | $465 | $5,580 | 475 | $475 | $5,700 | |||
| 3 | 1 | 1 | $450 | $1,350 | $16,200 | 475 | $1,425 | $17,100 | |||
| 2 | 1 | 1 | $425 | $850 | $10,200 | 475 | $950 | $11,400 | |||
| 1 | 1 | 1 | $405 | $405 | $4,860 | 475 | $475 | $5,700 | |||
| 1 | 1 | 1 | $400 | $400 | $4,800 | 475 | $475 | $5,700 | |||
| $0 | $0 | 0 | $0 | $0 | |||||||
| TOTALS | $3,470 | $41,640 | TOTALS | $3,800 | $45,600 | ||||||
| PROFORMA | ß | ß | |||||||||
| 6 | GROSS SCHEDULED INCOME: | $41,640 | % GSI | % GSI | $45,600 | ||||||
| 7 | Less Vacancy and Credit Losses: | $2,082 | ¬ | 5.0% | 5.0% | ® | $2,280 | ||||
| 8 | Other Income | ¬ | 0.0% | 0.0% | ® | $0 | |||||
| 9 | ADJUSTED GROSS INCOME (L6-(L7+L8)): | $39,558 | % AGI | % AGI | $43,320 | ||||||
| 10 | Less Accounting and Legal | ¬ | 0.0% | 0.0% | ® | ||||||
| 11 | Less Advertising: | $114 | ¬ | 0.3% | 0.3% | ® | $114 | ||||
| 12 | Less Repair and Maintenance: | $2,000 | ¬ | 5.1% | 4.6% | ® | $2,000 | ||||
| 13 | Less Insurance: | $1,800 | ¬ | 4.6% | 4.2% | ® | $1,800 | ||||
| 14 | Less Management: | $2,769 | ¬ | 7.0% | 7.0% | ® | $3,032 | ||||
| 15 | Less Taxes: | $3,626 | ¬ | 9.2% | 8.4% | ® | $3,626 | ||||
| 16 | Hoa Dues | $1,200 | ¬ | 3.0% | 2.8% | ® | $1,200 | ||||
| 17 | Electric | $150 | ¬ | 0.4% | 0.3% | ® | $150 | ||||
| 18 | Heating Fuel | ¬ | 0.0% | 0.0% | ® | ||||||
| 19 | Water & Sewer | ¬ | 0.0% | 0.0% | ® | ||||||
| 20 | Less Other: | ¬ | 0.0% | 0.0% | ® | ||||||
| 21 | Total Expenses(sum L10 - L20): | $11,659 | ¬ | 29.5% | 27.5% | ® | $11,922 | ||||
| 22 | Net Operating Income(L9 minus L21): | $27,899 | $31,398 | ||||||||
| 23 | Less Annual Debt Service: | $ 21,806 | ¬ | 55.1% | 50.3% | ® | $ 21,806 | ||||
| 24 | Net Income (Cash Flow) L22-L23): | 6,093 | 9,592 | ||||||||
| 25 | CAP RATE (NOI ¸ PURCHASE PRICE): | 8.94% | 10.06% | ||||||||
| 26 | RETURN ON INVESTMENT (NI ¸ DOWN): | 9.77% | 15.37% | ||||||||
| Estimated Financing | |||||||||||
| Purchase Price: | $312,000 | 6.20% | :Interest | ||||||||
| 20% | Down: | $ 62,400 | 20 | :Years Amortized | |||||||
| Amount Financed: | $ 249,600 | $ 1,817.13 | :P&I Monthly Payment | ||||||||
| Description: | This 8 plex is in a great area in Johnson County, Kansas. All utilities are individually metered and the rents are below market. Plenty of off street parking. Complex includes 8 one bedrooms. | ||||||||||
| Information deemed reliable but not guaranteed | |||||||||||