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MULTI -
FAMILY STAT / PROFORMA SHEET |
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Property
Address: |
597
North Somerset Terrace |
Reece & Nichols Realtors |
City: |
Olathe |
State: |
Ks. |
Zip: |
66062 |
BRICE
BRADSHAW |
Date: |
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Listing Price: |
$312,000 |
Phone: |
913-219-7074 |
MLS No. |
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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 |
1 |
1 |
$465 |
$465 |
$5,580 |
475 |
$475 |
$5,700 |
3 |
1 |
1 |
$450 |
$1,350 |
$16,200 |
475 |
$1,425 |
$17,100 |
2 |
1 |
1 |
$425 |
$850 |
$10,200 |
475 |
$950 |
$11,400 |
1 |
1 |
1 |
$405 |
$405 |
$4,860 |
475 |
$475 |
$5,700 |
1 |
1 |
1 |
$400 |
$400 |
$4,800 |
475 |
$475 |
$5,700 |
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$0 |
$0 |
0 |
$0 |
$0 |
TOTALS |
$3,470 |
$41,640 |
TOTALS |
$3,800 |
$45,600 |
PROFORMA |
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ß |
6 |
GROSS SCHEDULED INCOME: |
$41,640 |
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% GSI |
% GSI |
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$45,600 |
7 |
Less Vacancy and Credit Losses: |
$2,082
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¬ |
5.0% |
5.0% |
® |
$2,280 |
8 |
Other Income |
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¬ |
0.0% |
0.0% |
® |
$0 |
9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$39,558 |
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% AGI |
% AGI |
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$43,320 |
10 |
Less Accounting and Legal |
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¬ |
0.0% |
0.0% |
® |
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11 |
Less Advertising: |
$114 |
¬ |
0.3% |
0.3% |
® |
$114 |
12 |
Less Repair and Maintenance: |
$2,000 |
¬ |
5.1% |
4.6% |
® |
$2,000 |
13 |
Less Insurance: |
$1,800 |
¬ |
4.6% |
4.2% |
® |
$1,800 |
14 |
Less Management: |
$2,769 |
¬ |
7.0% |
7.0% |
® |
$3,032 |
15 |
Less Taxes: |
$3,626 |
¬ |
9.2% |
8.4% |
® |
$3,626 |
16 |
Hoa Dues |
$1,200 |
¬ |
3.0% |
2.8% |
® |
$1,200 |
17 |
Electric |
$150 |
¬ |
0.4% |
0.3% |
® |
$150 |
18 |
Heating Fuel |
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¬ |
0.0% |
0.0% |
® |
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19 |
Water & Sewer |
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¬ |
0.0% |
0.0% |
® |
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20 |
Less Other: |
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¬ |
0.0% |
0.0% |
® |
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21 |
Total Expenses(sum L10 - L20): |
$11,659 |
¬ |
29.5% |
27.5% |
® |
$11,922 |
22 |
Net Operating Income(L9 minus L21): |
$27,899
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$31,398 |
23 |
Less Annual Debt Service: |
$ 21,806 |
¬ |
55.1% |
50.3% |
® |
$ 21,806 |
24 |
Net Income (Cash Flow) L22-L23): |
6,093 |
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9,592 |
25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
8.94% |
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10.06% |
26 |
RETURN ON INVESTMENT (NI ¸ DOWN): |
9.77% |
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15.37% |
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Estimated Financing |
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Purchase
Price: |
$312,000 |
6.20% |
:Interest |
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20% |
Down: |
$
62,400 |
20 |
:Years Amortized |
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Amount
Financed: |
$
249,600 |
$
1,817.13 |
:P&I Monthly Payment |
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Description: |
This
8 plex is in a great area in Johnson County, Kansas. All utilities are individually metered and
the rents are below market. Plenty of
off street parking. Complex includes
8 one bedrooms. |
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Information deemed
reliable but not guaranteed |
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