MULTI - FAMILY STAT / PROFORMA SHEET

Property Address:

3700 Warwick

Reece & Nichols Realtors

City:

Kansas City

State:

Mo.

Zip

64209

BRICE BRADSHAW

Date:

71307

Listing Price:

$950,000

Phone:

913-219-7074

MLS No.

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

$495

$2,475

$29,700

$535

$2,675

$32,100

$450

$3,150

$37,800

$535

$3,745

$44,940

$433

$2,165

$25,980

$535

$2,675

$32,100

$425

$5,100

$450

$5,400

$400

$3,200

$38,400

$450

$3,600

$43,200

Studio

$395

$4,740

$400

$4,800

TOTALS

$11,810

$141,720

TOTALS

$13,545

$162,540

PROFORMA

GROSS SCHEDULED INCOME:

$141,720

% GSI

$162,540

Vacancy and Credit Losses:

$10,629

7.5%

5.0%

$8,127

Laundry, Refuse rebate, Etc.

$1,380

1.0%

0.8%

$1,380

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

$132,471

% AGI

$155,793

Accounting and Legal:

$600

0.5%

0.4%

$600

Advertising:

$300

0.2%

$300

Repair and Maintenance:

$14,000

10.6%

9.0%

$14,000

Insurance:

$6,900

5.2%

4.4%

$6,900

Management:

$10,487

8.0%

$12,353

Taxes:

$6,800

5.1%

4.4%

$6,800

Refuse:

$2,800

2.1%

1.8%

$2,800

Electric:

$2,625

2.0%

1.7%

$2,625

Gas:

$2,790

2.1%

1.8%

$2,790

Water & Sewer:

$5,425

4.1%

3.5%

$5,425

Other:

Misc:

$1,000

0.8%

0.6%

$1,000

Total Expenses(sum L10 - L20):

$53,727

40.6%

35.7%

$55,593

Net Operating Income(L9 minus L21):

$78,744

$100,200

Less Annual Debt Service:

60,676

45.8%

38.9%

60,676

Net Income (Cash Flow) L22-L23):

18,068

39,524

CAP RATE (NOI ¸ PURCHASE PRICE):

8.29%

10.55%

RETURN ON INVESTMENT (NI ¸ DOWN):

9.51%

20.80%

Estimated Financing

Purchase Price:

$950,000

7.00%

:Interest

20%

Down:

$ 190,000

:Years Amortized

Amount Financed:

$760,000

$ 5,056.30

:P&I Monthly Payment

Description:

Left side is current actuals. Right side is market rents with improvements to the property. Please see flyer for additional information.

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.