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MULTI -
FAMILY STAT / PROFORMA SHEET |
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Property
Address: |
4520
Brencrest |
Reece & Nichols Realtors |
City: |
Riverside |
State: |
Mo. |
Zip: |
64105 |
BRICE
BRADSHAW |
Date: |
|
8/1/2006 |
Listing Price: |
$899,000 |
Phone: |
913-219-7074 |
MLS No. |
1323855 |
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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 |
1 |
2 |
1 |
$595 |
$595 |
$7,140 |
595 |
$595 |
$7,140 |
1 |
2 |
1 |
$525 |
$525 |
$6,300 |
525 |
$525 |
$6,300 |
3 |
2 |
1 |
$495 |
$1,485 |
$17,820 |
495 |
$1,485 |
$17,820 |
4 |
2 |
1 |
$475 |
$1,900 |
$22,800 |
495 |
$1,980 |
$23,760 |
14 |
2 |
1 |
$422 |
$5,908 |
$70,896 |
495 |
$6,930 |
$83,160 |
1 |
STUDIO |
1 |
$325 |
$325 |
$3,900 |
325 |
$325 |
$3,900 |
TOTALS |
$10,738 |
$128,856 |
TOTALS |
$11,840 |
$142,080 |
PROFORMA |
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ß |
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ß |
6 |
GROSS SCHEDULED INCOME: |
$128,856 |
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% GSI |
% GSI |
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$142,080 |
7 |
Less Vacancy and Credit Losses: |
$6,443
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¬ |
5.0% |
5.0% |
® |
$7,104 |
8 |
Other Income |
$2,160 |
¬ |
1.7% |
1.5% |
® |
$2,160 |
9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$124,573 |
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% AGI |
% AGI |
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$137,136 |
10 |
Less Accounting and Legal |
$450 |
¬ |
0.4% |
0.3% |
® |
$450 |
11 |
Less Advertising: |
$120 |
¬ |
0.1% |
0.1% |
® |
$120 |
12 |
Less Repair and Maintenance: |
$8,000 |
¬ |
6.4% |
5.8% |
® |
$8,000 |
13 |
Less Insurance: |
$5,000 |
¬ |
4.0% |
3.6% |
® |
$5,000 |
14 |
Less Management: |
$9,793 |
¬ |
8.0% |
8.0% |
® |
$10,798 |
15 |
Less Taxes: |
$2,600 |
¬ |
2.1% |
1.9% |
® |
$2,600 |
16 |
Trash & Pest Control |
$960 |
¬ |
0.8% |
0.7% |
® |
$960 |
17 |
Gas & Common Electric |
$11,000 |
¬ |
8.8% |
8.0% |
® |
$11,000 |
18 |
Grounds keeping |
$2,400 |
¬ |
1.9% |
1.8% |
® |
$2,400 |
19 |
Water & Sewer |
$9,000 |
¬ |
7.2% |
6.6% |
® |
$9,000 |
20 |
Less Other: |
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$0 |
¬ |
0.0% |
0.0% |
® |
$0 |
21 |
Total Expenses(sum L10 - L20): |
$49,323 |
¬ |
39.6% |
36.7% |
® |
$50,328 |
22 |
Net Operating Income(L9 minus L21): |
$75,250 |
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$86,808 |
23 |
Less Annual Debt Service: |
57,418 |
¬ |
46.1% |
41.9% |
® |
57,418 |
24 |
Net Income (Cash Flow) L22-L23): |
17,832 |
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29,390 |
25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
8.37% |
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9.66% |
26 |
RETURN ON INVESTMENT (NI
¸ DOWN): |
9.92% |
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16.35% |
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Estimated Financing |
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Purchase
Price: |
$899,000 |
7.00% |
:Interest |
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20% |
Down: |
$
179,800 |
30 |
:Years Amortized |
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Amount
Financed: |
$719,200 |
$
4,784.86 |
:P&I Monthly Payment |
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TOTALS |
THIS
IS A 24 UNIT COMPLEX CONSISTING OF 3
8-UNIT BRICK AND VINYL SIDED BUILDINGS WITH A LARGE ASPHALT PARKING
LOT. NEW ROOFS, GUTTERS AND
DOWNSPOUTS AND DOUBLE PANED THERMAL WINDOWS WERE INSTALLED IN 2004. THERE IS
A NEW LAUNDRY ROOM WITH 3 WASHERS AND DRYERS FOR THE TENANTS. ALL APARTMENTS
HAVE HAD UPGRADES ON THE PAST 18 MONTHS AND MANY OF THE APPLIANCES ARE ALMOST
NEW. NEW HEATING / COOLING
"WINDOW TYPE" UNITS WERE INSTALLED IN 2004. THE PROPERTY IS ONLY 1 BLOCK FROM THE NEW
RIVERSIDE CITY HALL, FIRE STATION, COMMUNITY CENTER AND CITY PARK. CLOSE TO THE NEW PARKHILL SOUTH HIGH
SCHOOL. ONLY MINUTES FROM THE ARGOSY
CASINO. |
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Information deemed
reliable but not guaranteed |
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