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MULTI -
FAMILY STAT / PROFORMA SHEET |
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Property
Address: |
The
Sheffield |
Reece & Nichols Realtors |
City: |
Kansas City |
State: |
KS |
Zip |
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BRICE
BRADSHAW |
Date: |
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Listing Price: |
$1,850,000 |
Phone: |
913-901-6305 |
MLS No. |
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Fax: |
913-901-6450 |
Directions: |
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BILL HARGIS 913-901-6352 |
www.kccommercial.net |
Unit Description |
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Current Rental Data |
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Market
Rental Data |
# of
Units |
# Bed |
# Bath |
Unit Rent |
Mo. Rent |
Yearly Rent |
Unit Rent |
Mo. Rent |
Yearly Rent |
37 |
2 |
1 |
$500 |
$18,500 |
$222,000 |
$525 |
$19,425 |
$233,100 |
6 |
2 |
1 1/2 |
$525 |
$3,150 |
$37,800 |
$550 |
$3,300 |
$39,600 |
3 |
1 |
1 |
$400 |
$1,200 |
$14,400 |
$425 |
$1,275 |
$15,300 |
2 |
0 |
1 |
$350 |
$700 |
$8,400 |
$375 |
$750 |
$9,000 |
0 |
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$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
0 |
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$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
TOTALS |
$23,550 |
$282,600 |
TOTALS |
$24,750 |
$297,000 |
PROFORMA |
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ß |
6 |
GROSS SCHEDULED INCOME: |
$282,600 |
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% GSI |
% GSI |
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$297,000 |
7 |
Vacancy and Credit Losses: |
$14,130
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¬ |
5.0% |
5.0% |
® |
$14,850 |
8 |
Other Income: |
$3,400 |
¬ |
1.2% |
1.1% |
® |
$3,400 |
9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$271,870 |
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% AGI |
% AGI |
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$285,550 |
10 |
Accounting and Legal: |
$800 |
¬ |
0.3% |
0.3% |
® |
$800 |
11 |
Advertising: |
$500 |
¬ |
0.2% |
0.2% |
® |
$500 |
12 |
Repair and Maintenance: |
$19,200 |
¬ |
7.1% |
6.7% |
® |
$19,200 |
13 |
Insurance: |
$13,000 |
¬ |
4.8% |
4.6% |
® |
$13,000 |
14 |
Management: |
$21,478 |
¬ |
8.0% |
8.0% |
® |
$22,572 |
15 |
Taxes: |
$29,419 |
¬ |
10.8% |
10.0% |
® |
$28,673 |
16 |
Refuse: |
$3,800 |
¬ |
1.4% |
1.3% |
® |
$3,800 |
17 |
Internet: |
$960 |
¬ |
0.4% |
0.3% |
® |
$960 |
18 |
Gas: |
$1,600 |
¬ |
0.6% |
0.6% |
® |
$1,600 |
19 |
Electric, Water and Sewer: |
$26,400 |
¬ |
9.7% |
9.2% |
® |
$26,400 |
20 |
Other: |
Pool and Pest Control: |
$2,000 |
¬ |
0.7% |
0.7% |
® |
$2,000 |
21 |
Total Expenses(sum L10 - L20): |
$119,157 |
¬ |
43.8% |
41.9% |
® |
$119,505 |
22 |
Net Operating Income(L9 minus L21): |
$152,713
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$166,045 |
23 |
Less Annual Debt Service: |
115,191 |
¬ |
42.4% |
40.3% |
® |
115,191 |
24 |
Net Income (Cash Flow) L22-L23): |
37,522 |
|
50,854 |
25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
8.25% |
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8.98% |
26 |
RETURN ON INVESTMENT (NI
¸ DOWN): |
10.14% |
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13.74% |
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Estimated Financing |
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Purchase
Price: |
$1,850,000 |
6.75% |
:Interest |
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20% |
Down: |
$
370,000 |
30 |
:Years Amortized |
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Amount
Financed: |
$1,480,000 |
$
9,599.25 |
:P&I Monthly Payment |
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Description: |
Sheffield
is a two and one half story garden style complex featuring four buildings
with a total of 48 units. The
property has a brick veneer exterior with mansards, most of which were
replaced in the last year. The
apartments are spacious with mini-blinds, central air and heat, secure
entrances, large closets, a private balcony or patio and 30-gallon hot water
heaters in each unit. The complex
features a swimming pool and courtyard, wireless internet, laundry
facilities, storage lockers, attractive well light hallways and off-street
parking. Each unit is individually
metered for gas and electric service with common water. Sheffield was built in 1967 and is in
great shape with many capital improvements recently completed. Each unit has been updated as needed over
the last 18 months. The Sheffield has
strong rental demand and excellent tenants. |
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This property summary includes
assumptions, which represent a projection of future events and assumptions
which may or may not occur.
Absolutely no tax or legal advice is being implied or given. These projections may not and should not
be relied upon to indicate results, which might be obtained. Income collected and expenses incurred
will vary depending upon the type of management employed. Therefore, all information provided is
solely for the purpose of permitting parties to determine whether or not the
property is of such type and general character as might interst them in this
purchase, and Reece and Nichols and Nichols Realtors/Hargis Real Estate Group
makes no warranty as to the accuracy of such information. Interested persons are expected to
acquaint themsleves with the property and arrive at their own conclusions as
to physical condition, number and occupancy of revenue producing units,
estimates of operating costs, tax matters and any factors having to do with
the valuation of property. |
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