MULTI - FAMILY STAT / PROFORMA SHEET          
Property Address: 215 North Mersington Reece & Nichols Realtors
City: Kansas City State: MO  Zip:   BRICE BRADSHAW
Date:     Listing Price: $289,000 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
5 2 1 $450 $2,250 $27,000 450 $2,250 $27,000
2 2 1    $425 $850 $10,200 450 $900 $10,800
3 2 1 $385 $1,155 $13,860 450 $1,350 $16,200
2 2 1 $375 $750 $9,000 450 $900 $10,800
        $0 $0   $0 $0
        $0 $0 0 $0 $0
TOTALS $5,005 $60,060 TOTALS $5,400 $64,800
 PROFORMA ß         ß
6          GROSS SCHEDULED INCOME: $60,060   % GSI % GSI   $64,800
7        Less Vacancy and Credit Losses: $4,805 ¬ 8.0% 8.0% ® $5,184
8 Other Income $900 ¬ 1.5% 1.4% ® $900
9 ADJUSTED GROSS INCOME (L6-(L7+L8)): $56,155   % AGI % AGI   $60,516
10 Less Accounting and Legal $300 ¬ 0.5% 0.5% ® $300
11                                      Less Advertising: $300 ¬ 0.5% 0.5% ® $300
12           Less Repair and Maintenance: $6,000 ¬ 10.7% 9.9% ® $6,000
13                                         Less Insurance: $3,700 ¬ 6.6% 6.1% ® $3,700
14                                 Less Management: $4,420 ¬ 8.0% 8.0% ® $4,769
15                                                Less Taxes: $1,781 ¬ 3.2% 2.9% ® $1,781
16 Trash & Pest Control $900 ¬ 1.6% 1.5% ® $900
17 Electric $1,377 ¬ 2.5% 2.3% ® $1,377
18 Heating Fuel $2,300 ¬ 4.1% 3.8% ® $2,300
19 Water & Sewer $3,100 ¬ 5.5% 5.1% ® $3,100
20 Less Other:     ¬ 0.0% 0.0% ® $0
21 Total Expenses(sum L10 - L20): $24,178 ¬ 43.1% 40.5% ® $24,527
22 Net Operating Income(L9 minus L21): $31,977         $35,989
23 Less Annual Debt Service:  $      19,609 ¬ 34.9% 32.4% ®  $   19,609
24 Net Income (Cash Flow) L22-L23): 12,368 16,380
25 CAP RATE (NOI ¸ PURCHASE PRICE): 11.06% 12.45%
26 RETURN ON INVESTMENT (NI ¸ DOWN): 21.40% 28.34%
           Estimated Financing              
Purchase Price: $289,000 7.00% :Interest      
20%  Down:  $       57,800 25 :Years Amortized    
Amount Financed:  $     231,200  $       1,634.07 :P&I Monthly Payment          
Description: Nice 13 plex in the old Historic Northeast.  Sits adjacent to beautiful Gladstone Boulevard and is only 3 blocks from the Kansas City Museum.  This complex features vinyl replacement windows, large two bedroom units and one basement studio, some off street parking, the electrical service and breaker boxes have all been upgraded in 2005.  The current owner has spent money upgrading this complex, however, it needs about $35,000 more to complete the process.  4 units need make readies, the hallways painted and it needs a new roof.  We have a bid for $12,000 for a new roof.  
 
 
 
 
 
 
 
 
    Information deemed reliable but not guaranteed