MULTI - FAMILY STAT / PROFORMA SHEET          
Property Address: 2009 P&L and Proforma  
City: Kansas City State: KS Zip   BRICE BRADSHAW
Date:     Listing Price: $850,000 Phone: 913-901-6305
MLS No.     Fax:                 913-901-6450
Directions:    
www.kccommercial.net
Unit Description   2009 Profit and Loss Data Proforma and Market Data  
# of Units # Bed # Bath Unit Rent Mo. Rent Yearly Rent Unit Rent Mo. Rent Yearly Rent
10 2 1 $600 $6,000 $72,000 $600 $6,000 $72,000
2 1 1    $500 $1,000 $12,000 $500 $1,000 $12,000
8 2 1 $500 $4,000 $48,000 $500 $4,000 $48,000
10 1 1 $450 $4,500 $54,000 $450 $4,500 $54,000
      $0 $0 $0 $0 $0 $0
      $0 $0 $0 $0 $0 $0
TOTALS $15,500 $186,000 TOTALS $15,500 $186,000
 PROFORMA ß         ß
6   $186,000   % GSI % GSI   $186,000
7 Vacancy, 2 Management Units & Credit Losses: $45,570 ¬ 24.5%[1] 12.0%[2] ® $22,320
8 Other Income: $906 ¬ 0.5% 0.5% ® $906
9 2009 Profit and Loss Actual income: $141,336   % AGI % AGI   $164,586
10 Administrative and Legal: $1,990 ¬ 1.4% 1.2% ® $1,990
11 Advertising: $1,250 ¬ 0.9% 0.8% ® $1,250
12 Repair and Maintenance: $11,044 ¬ 7.8% 6.7% ® $11,044
13 Insurance: $6,436 ¬ 4.6% 3.9% ® $6,436
14                                 Management: $0 ¬ 0.0%[3] 7.0%[4] ® $11,458
15 Property Taxes: $10,868 ¬ 7.7% 6.6% ® $10,868
16 Trash: $1,155 ¬ 0.8% 0.7% ® $1,155
17 Gas: $4,831 ¬ 3.4% 2.9% ® $4,831
18 Water and Electricity: $5,180 ¬ 3.7% 3.1% ® $5,180
19 Telephone: $682 ¬ 0.5% 0.4% ® $682
20  Other: Replacement Reserves: $0 ¬ 0.0% 2.7% ® $4,500
21 Total Expenses(sum L10 - L20): $43,436 ¬ 30.7% 36.1% ® $59,394
22 Net Operating Income(L9 minus L21): $97,900         $105,192
23 Less Annual Debt Service: 59,169 ¬ 41.9% 36.0% ® 59,169
24 Net Income (Cash Flow) L22-L23): 38,731 46,023
25 CAP RATE (NOI ¸ PURCHASE PRICE): 11.52% 12.38%
26 RETURN ON INVESTMENT (NI ¸ DOWN): 22.78% 27.07%
           Estimated Financing              
Purchase Price: $850,000 6.15% :Interest      
20%  Down:  $          170,000 20 :Years Amortized    
Amount Financed: $680,000  $   4,930.76 :P&I Monthly Payment          
Description: The right column is the 2009 Profit and  Loss Statement with two management occupied units.  A resident manager has one apartment rent free and the owner keeps one apartment for herself when she visits Kansas City.  Vacancy rate has been reduced with a new resident manager in place.  The property had several resident managers in 2009 and vacancy rates were higher for a period in 2009.  The vacancy rate has returned to its historical norm.
 
 
 
 
 
 
 
 
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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