MULTI - FAMILY STAT / PROFORMA SHEET

Property Address:

901 Benton Blvd.

BILL HARGIS CRS, RECS

City:

Kansas City

State:

Mo.

Zip:

Reece & Nichols Realtors

Date:

Listing Price:

$429,000

Phone:

913-901-6352

MLS No.

Fax:

913-901-6450

Directions:

[email protected]

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

$450

$2,700

$32,400

$495

$2,700

$32,400

$475

$2,850

$34,200

$495

$3,600

$43,200

TOTALS

$5,550

$66,600

TOTALS

$6,300

$75,600

PROFORMA

GROSS SCHEDULED INCOME:

$66,600

% GSI

$75,600

Less Vacancy and Credit Losses:

$3,330

5.0%

$3,780

Other Income

$1,800

2.7%

2.4%

$1,800

ADJUSTED GROSS INCOME (L6-(L7+L8)):

$65,070

% AGI

$73,620

Less Accounting and Legal

$300

0.5%

0.4%

$300

Less Advertising:

$100

0.2%

0.1%

$100

Less Repair and Maintenance:

$5,000

7.7%

6.8%

$5,000

Less Insurance:

$4,000

6.1%

5.4%

$4,000

Less Management:

$5,062

8.0%

$5,746

Less Taxes:

$1,417

2.2%

1.9%

$1,417

Trash & Pest Control

$1,300

2.0%

1.8%

$1,300

Electric

$600

0.9%

0.8%

$600

Heating Fuel

$600

0.9%

0.8%

$600

Water & Sewer

$2,800

4.3%

3.8%

$2,800

Less Other:

0.0%

Total Expenses(sum L10 - L20):

$21,179

32.5%

29.7%

$21,863

Net Operating Income(L9 minus L21):

$43,891

$51,757

Less Annual Debt Service:

$ 30,706

47.2%

40.7%

$ 29,990

Net Income (Cash Flow) L22-L23):

13,186

21,767

CAP RATE (NOI ¸ PURCHASE PRICE):

10.23%

12.06%

RETURN ON INVESTMENT (NI ¸ DOWN):

15.37%

25.37%

Estimated Financing

Purchase Price:

$429,000

6.50%

:Interest

20%

Down:

$ 85,800

:Years Amortized

Amount Financed:

$ 343,200

$ 2,558.81

:P&I Monthly Payment

Description:

2 NEWLY RENOVATED 6-UNIT BRICK BUILDINGS WITH A LARGE ASPHALT PARKING LOT. ALL LARGE 2-BEDROOM APARTMENTS WITH FORCED AIR GAS FURNACES AND CENTRAL AIR CONDITIONING. EACH UNIT HAS IT'S OWN HOT WATER HEATER. NEWER ROOFS AND WINDOWS. MANY NEW APPLIANCES. NEWER 100 AMP ELECTRICAL SERVICE TO EACH UNIT. LOCATED ON ON CHARMING STREET IN THE OLD HISTORIC NORTHEAST PART OF TOWN. MANY NEW FURNACES, MANY UNITS HAVE NEW TILE AND CARPET AS WELL OF HOT WATER HEATERS. PROPERTY JUST FINISHING ITS REHAB STAGE AND WILL BEGIN LEASING SOON.

Information deemed reliable but not guaranteed