MULTI - FAMILY STAT / PROFORMA SHEET          
Property Address: The Sheffield Reece & Nichols Realtors
City: Kansas City State: KS Zip   BRICE BRADSHAW
Date:     Listing Price: $1,850,000 Phone: 913-901-6305
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
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     $0 $0 $0 $0 $0 $0
0     $0 $0 $0 $0 $0 $0
TOTALS $23,550 $282,600 TOTALS $24,750 $297,000
 PROFORMA ß         ß
6          GROSS SCHEDULED INCOME: $282,600   % GSI % GSI   $297,000
7        Vacancy and Credit Losses: $14,130 ¬ 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   % AGI % AGI   $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         $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% 8.98%
26 RETURN ON INVESTMENT (NI ¸ DOWN): 10.14% 13.74%
           Estimated Financing              
Purchase Price: $1,850,000 6.75% :Interest      
20%  Down:  $          370,000 30 :Years Amortized    
Amount Financed: $1,480,000  $   9,599.25 :P&I Monthly Payment          
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.
 
 
 
 
 
 
 
 
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.