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MULTI - FAMILY STAT / PROFORMA SHEET |
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Property Address: |
Summit Oak |
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City: |
Lee's Summit |
State: |
MO |
Zip: |
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BRICE BRADSHAW |
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Date: |
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Listing Price: |
$3,890,000 |
Phone: |
913-901-6305 |
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MLS No. |
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Fax: |
913-901-6450 |
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Directions: |
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www.kccommercial.net |
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Unit Description |
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Current Rental Data |
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Market
Rental Data |
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# of Units |
# Bed |
# Bath |
Unit Rent |
Mo. Rent |
Yearly Rent |
Unit Rent |
Mo. Rent |
Yearly Rent |
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20 |
1 |
1 |
$425 |
$8,500 |
$102,000 |
$520 |
$10,400 |
$124,800 |
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46 |
2 |
1 |
$500 |
$23,000 |
$276,000 |
$625 |
$28,750 |
$345,000 |
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19 |
3 |
1.5 |
$625 |
$11,875 |
$142,500 |
$725 |
$13,775 |
$165,300 |
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8 |
2 |
1 |
$575 |
$4,600 |
$55,200 |
$625 |
$5,000 |
$60,000 |
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1 |
3 |
1.5 |
$685 |
$685 |
$8,220 |
$725 |
$725 |
$8,700 |
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$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
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TOTALS |
$48,660 |
$583,920 |
TOTALS |
$58,650 |
$703,800 |
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PROFORMA |
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ß |
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6 |
GROSS SCHEDULED INCOME: |
$583,920 |
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% GSI |
% GSI |
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$703,800 |
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7 |
Vacancy, Loss to Lease & Credit Losses: |
$29,196
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¬ |
5.0%[1] |
5.0%[2] |
® |
$35,190 |
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8 |
Other Income: |
$12,000 |
¬ |
2.1% |
1.7% |
® |
$12,000 |
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9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$566,724 |
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% AGI |
% AGI |
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$680,610 |
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10 |
Accounting
& Legal: |
$1,500 |
¬ |
0.3% |
0.2% |
® |
$1,500 |
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11 |
Advertising: |
$1,000 |
¬ |
0.2% |
0.1% |
® |
$1,000 |
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12 |
Repair & Maintenance: |
$47,000 |
¬ |
8.3% |
9.7% |
® |
$65,800 |
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13 |
Insurance: |
$18,100 |
¬ |
3.2% |
2.7% |
® |
$18,100 |
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14 |
Management & Administration: |
$33,283 |
¬ |
6.0%[3] |
8.5%[4] |
® |
$56,832 |
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15 |
Taxes: |
$20,930 |
¬ |
3.7% |
5.9% |
® |
$40,000 |
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16 |
Water: |
$24,600 |
¬ |
4.3% |
3.6% |
® |
$24,600 |
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17 |
Trash: |
$4,225 |
¬ |
0.7% |
0.6% |
® |
$4,225 |
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18 |
Electric: |
$39,600 |
¬ |
7.0% |
5.8% |
® |
$39,600 |
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19 |
Replacement Reserves: |
$0 |
¬ |
0.0% |
3.5% |
® |
$23,500 |
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20 |
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Cleaning, Lawn Care & Snow Removal: |
$18,800 |
¬ |
3.3% |
2.8% |
® |
$18,800 |
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21 |
Total Expenses(sum L10 - L20): |
$209,038 |
¬ |
36.9% |
43.2% |
® |
$293,957 |
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22 |
Net Operating Income(L9 minus L21): |
$357,686
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$386,653 |
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23 |
Less Annual Debt Service: |
223,896 |
¬ |
39.5% |
32.9% |
® |
223,896 |
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24 |
Net Income (Cash Flow) L22-L23): |
133,789 |
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162,757 |
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25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
9.20% |
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9.94% |
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26 |
RETURN ON INVESTMENT (NI ¸ DOWN): |
17.20% |
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20.92% |
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Estimated Financing |
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Purchase Price: |
$3,890,000 |
6.00% |
:Interest |
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20% |
Down: |
$
778,000 |
30 |
:Years Amortized |
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Amount Financed: |
$3,112,000 |
$ 18,658.01 |
:P&I Monthly Payment |
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Description: |
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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 interest
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
themselves 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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