| MULTI - FAMILY STAT / PROFORMA
SHEET |
|
| Property
Address: |
The Devereaux Apartments
3616 Warwick |
BILL
HARGIS CRS, RECS |
| City: |
Kansas City |
State: |
Mo. |
Zip: |
0 |
Reece
& Nichols Realtors |
| Date: |
51503 |
Listing Price: |
$2,490,000 |
Phone: |
913-901-6352 |
| MLS No. |
1111605 |
|
Fax: |
913-901-6450 |
| Directions: |
|
billh@reeceandnichols.com |
| 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 |
| 49 |
2 |
1 |
$526 |
$25,774 |
$309,288 |
550 |
$26,950 |
$323,400 |
| 11 |
1 |
1 |
$450 |
$4,950 |
$59,400 |
495 |
$5,445 |
$65,340 |
| 0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
| 0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
| 0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
| 0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
| TOTALS |
$30,724 |
$368,688 |
TOTALS |
$32,395 |
$388,740 |
| PROFORMA |
|
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ß |
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ß |
| 6 |
GROSS SCHEDULED INCOME: |
$368,688 |
|
% GSI |
% GSI |
|
$388,740 |
| 7 |
Less Vacancy and Credit Losses: |
$18,434
|
¬ |
5.0% |
5.0% |
® |
$19,437 |
| 8 |
Other Income |
$14,479 |
¬ |
3.9% |
3.7% |
® |
$14,479 |
| 9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$364,733 |
|
% AGI |
% AGI |
|
$383,782 |
| 10 |
Less Accounting and Legal: |
$2,500 |
¬ |
0.7% |
0.7% |
® |
$2,500 |
| 11 |
Less Advertising: |
$1,000 |
¬ |
0.3% |
0.3% |
® |
$1,000 |
| 12 |
Less Repair and Maintenance: |
$47,730
|
¬ |
13.1% |
12.4% |
0 |
$47,730 |
| 13 |
Less Insurance: |
$9,200 |
¬ |
2.5% |
2.4% |
® |
$9,200 |
| 14 |
Less Management: |
$17,513 |
¬ |
5.0% |
5.0% |
® |
$18,465 |
| 15 |
Less Taxes: |
$17,310
|
¬ |
4.7% |
4.5% |
® |
$17,310 |
| 16 |
Trash & Pest Control |
$7,800 |
¬ |
2.1% |
2.0% |
® |
$7,800 |
| 17 |
Electric |
$6,007 |
¬ |
1.6% |
1.6% |
® |
$6,007 |
| 18 |
Heating Fuel |
$9,360 |
¬ |
2.6% |
2.4% |
® |
$9,360 |
| 19 |
Water & Sewer |
$12,471
|
¬ |
3.4% |
3.2% |
® |
$12,471 |
| 20 |
Less Other: |
|
|
¬ |
0.0% |
0.0% |
® |
$0 |
| 21 |
Total Expenses(sum L10 - L20): |
$130,891 |
¬ |
35.9% |
34.4% |
® |
$131,843 |
| 22 |
Net Operating Income(L9 minus L21): |
$233,842 |
|
|
|
|
$251,939 |
| 23 |
Less Annual Debt Service: |
75,427 |
¬ |
20.7% |
19.7% |
® |
75,427 |
| 24 |
Net Income (Cash Flow) L22-L23): |
158,415 |
|
176,512 |
| 25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
9.39% |
|
10.12% |
| 26 |
RETURN ON INVESTMENT (NI
¸ DOWN): |
9.54% |
|
10.63% |
| |
|
Estimated Financing |
|
|
|
|
|
|
|
| Purchase
Price: |
$2,490,000 |
7.78% |
:Interest |
CURRENT FINANCING |
|
|
|
| |
Down: |
$
1,660,000 |
25 |
:Years Amortized |
|
|
|
|
|
| Amount
Financed: |
$
830,000 |
$
6,285.59 |
:P&I Monthly Payment |
|
|
|
|
|
| Description: |
49 2-BEDROOM
AND 11 1-BEDROOM APARTMENTS.
FIREPLACES, DISHWASHERS AND DISPOSALS.
FORCED AIR GAS HEAT AND CENTRAL AIR.
3 NEW LAUNDRY ROOMS WITH THE
EQUIPMENT OWNED BY THE COMPLEX.
EACH UNIT HAS A BALCONY. THERE
IS AN ASSUMABLE LOAN OF APPROX. $840,000.
THIS WAS A 10 YEAR FIXED WITH ABOUT 5 YEARS LEFT. 7.78% INTEREST RATE
WITH A 35 YEAR AMORTIZATION. DUE TO A
LARGE PREPAYMENT PENALTY THE LOAN MUST BE ASSUMED. NO 2NDS ALLOWED. |
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Information deemed
reliable but not guaranteed |
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