MULTI - FAMILY STAT / PROFORMA SHEET          
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   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
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 ß         ß
6          GROSS SCHEDULED INCOME: $128,856   % GSI % GSI   $142,080
7        Less Vacancy and Credit Losses: $6,443 ¬ 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   % AGI % AGI   $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:   $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         $86,808
23 Less Annual Debt Service: 57,418 ¬ 46.1% 41.9% ® 57,418
24 Net Income (Cash Flow) L22-L23): 17,832 29,390
25 CAP RATE (NOI ¸ PURCHASE PRICE): 8.37% 9.66%
26 RETURN ON INVESTMENT (NI ¸ DOWN): 9.92% 16.35%
           Estimated Financing              
Purchase Price: $899,000 7.00% :Interest      
20%  Down:  $     179,800 30 :Years Amortized    
Amount Financed: $719,200  $       4,784.86 :P&I Monthly Payment          
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. 
 
 
 
 
 
 
 
 
    Information deemed reliable but not guaranteed