| MULTI - FAMILY STAT / PROFORMA SHEET | |||||||||||
| Property Address: | 215 North Mersington | Reece & Nichols Realtors | |||||||||
| City: | Kansas City | State: | MO | Zip: | BRICE BRADSHAW | ||||||
| Date: | Listing Price: | $289,000 | 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 | |||
| 5 | 2 | 1 | $450 | $2,250 | $27,000 | 450 | $2,250 | $27,000 | |||
| 2 | 2 | 1 | $425 | $850 | $10,200 | 450 | $900 | $10,800 | |||
| 3 | 2 | 1 | $385 | $1,155 | $13,860 | 450 | $1,350 | $16,200 | |||
| 2 | 2 | 1 | $375 | $750 | $9,000 | 450 | $900 | $10,800 | |||
| $0 | $0 | $0 | $0 | ||||||||
| $0 | $0 | 0 | $0 | $0 | |||||||
| TOTALS | $5,005 | $60,060 | TOTALS | $5,400 | $64,800 | ||||||
| PROFORMA | ß | ß | |||||||||
| 6 | GROSS SCHEDULED INCOME: | $60,060 | % GSI | % GSI | $64,800 | ||||||
| 7 | Less Vacancy and Credit Losses: | $4,805 | ¬ | 8.0% | 8.0% | ® | $5,184 | ||||
| 8 | Other Income | $900 | ¬ | 1.5% | 1.4% | ® | $900 | ||||
| 9 | ADJUSTED GROSS INCOME (L6-(L7+L8)): | $56,155 | % AGI | % AGI | $60,516 | ||||||
| 10 | Less Accounting and Legal | $300 | ¬ | 0.5% | 0.5% | ® | $300 | ||||
| 11 | Less Advertising: | $300 | ¬ | 0.5% | 0.5% | ® | $300 | ||||
| 12 | Less Repair and Maintenance: | $6,000 | ¬ | 10.7% | 9.9% | ® | $6,000 | ||||
| 13 | Less Insurance: | $3,700 | ¬ | 6.6% | 6.1% | ® | $3,700 | ||||
| 14 | Less Management: | $4,420 | ¬ | 8.0% | 8.0% | ® | $4,769 | ||||
| 15 | Less Taxes: | $1,781 | ¬ | 3.2% | 2.9% | ® | $1,781 | ||||
| 16 | Trash & Pest Control | $900 | ¬ | 1.6% | 1.5% | ® | $900 | ||||
| 17 | Electric | $1,377 | ¬ | 2.5% | 2.3% | ® | $1,377 | ||||
| 18 | Heating Fuel | $2,300 | ¬ | 4.1% | 3.8% | ® | $2,300 | ||||
| 19 | Water & Sewer | $3,100 | ¬ | 5.5% | 5.1% | ® | $3,100 | ||||
| 20 | Less Other: | ¬ | 0.0% | 0.0% | ® | $0 | |||||
| 21 | Total Expenses(sum L10 - L20): | $24,178 | ¬ | 43.1% | 40.5% | ® | $24,527 | ||||
| 22 | Net Operating Income(L9 minus L21): | $31,977 | $35,989 | ||||||||
| 23 | Less Annual Debt Service: | $ 19,609 | ¬ | 34.9% | 32.4% | ® | $ 19,609 | ||||
| 24 | Net Income (Cash Flow) L22-L23): | 12,368 | 16,380 | ||||||||
| 25 | CAP RATE (NOI ¸ PURCHASE PRICE): | 11.06% | 12.45% | ||||||||
| 26 | RETURN ON INVESTMENT (NI ¸ DOWN): | 21.40% | 28.34% | ||||||||
| Estimated Financing | |||||||||||
| Purchase Price: | $289,000 | 7.00% | :Interest | ||||||||
| 20% | Down: | $ 57,800 | 25 | :Years Amortized | |||||||
| Amount Financed: | $ 231,200 | $ 1,634.07 | :P&I Monthly Payment | ||||||||
| Description: | Nice 13 plex in the old Historic Northeast. Sits adjacent to beautiful Gladstone Boulevard and is only 3 blocks from the Kansas City Museum. This complex features vinyl replacement windows, large two bedroom units and one basement studio, some off street parking, the electrical service and breaker boxes have all been upgraded in 2005. The current owner has spent money upgrading this complex, however, it needs about $35,000 more to complete the process. 4 units need make readies, the hallways painted and it needs a new roof. We have a bid for $12,000 for a new roof. | ||||||||||
| Information deemed reliable but not guaranteed | |||||||||||