Please help!
Assumptions
| Figure 1 - Apartment Level Information | |||||
| Unit Type | Unit Description | # Units | Area (sqft/unit) | Monthly Rent ($/Unit) | |
| 1-S | Studio | 54 | 570 | $1,550 | |
| 1-A | 1 BR/1BA | 102 | 688 | $1,775 | |
| 1-B | 1 BR/1.5 BA | 76 | 800 | $1,850 | |
| 1-C | 1 BR/1 BA+D | 24 | 970 | $1,975 | |
| 2-A | 2 BR/1 BA | 140 | 1,110 | $2,100 | |
| 2-B | 2 BR/1.5 BA | 52 | 1,180 | $2,150 | |
| 2-C | 2 BR/2 BA | 40 | 1,250 | $2,190 | |
| 2-D | 2 BR/2 BA+D | 24 | 1,478 | $2,375 | |
| 3-A | 3 BR/1.5 BA | 64 | 1,500 | $2,750 | |
| 3-B | 3 BR/2 BA | 66 | 1,584 | $2,900 | |
| 4-A | 4 BR/2 BA | 8 | 1,852 | $3,750 | |
| Figure 2 - Miscellaneous Information | |||||
| Source | # Units | Monthly Rent | |||
| Garage (Direct Access) | 130 | $150 | |||
| Carports | 55 | $50 | |||
| Storage Units | 150 | $175 | |||
| Figure 3 - Operating Expenses | |||||
| Expense | Annual PSF | ||||
| Administration | 0.24 | ||||
| Real Estate Taxes | 3.85 | ||||
| Advertising | 0.34 | ||||
| Insurance | 0.45 | ||||
| Repairs & Maintenance | 0.76 | ||||
| Management Fee | 0.88 | ||||
| Personnel Expense | 1.65 | ||||
| Utilities | 0.85 | ||||
| Additional Assumptions | |||||
| Vacancy | 10.00% | ||||
| Capital Expenditures (PSF) | $1.25 | ||||
| Going-in Cap Rate | 7.50% | ||||
| Mortgage Term | 30 | ||||
| Mortgage Pmt Per Year | 12 | ||||
| Mortgage Interest Rate | 6.00% | ||||
| PGI Growth Rate | 3.0% | per year | |||
| Misc Income Growth Rate | 2.0% | per year | |||
| Op Ex Growth Rate | 3.0% | per year | |||
| Going Out Cap Rate | 7.8% | ||||
| Selling Costs | 7.0% | ||||
| Vacancy Projection | 10.0% | ||||
| Discount Rate | 14.0% |
1
| Rent Roll (Potential Gross Income) | |||||||||
| Unit Type | Unit Description | Number of Units | Area Per Unit (sqft) | Monthly Rent/Unit | Monthly Gross Rent | Annual Gross Rent | Total Area (sqft) | Gross Rent (per sqft) | |
| 1-S | Studio | 54 | 570 | $1,550 | $83,700 | $1,004,400 | 30,780 | $2.72 | |
| 1-A | 1 BR/1BA | 102 | 688 | $1,775 | $181,050 | $2,172,600 | 70,176 | $2.58 | |
| 1-B | 1 BR/1.5 BA | 76 | 800 | $1,850 | $140,600 | $1,687,200 | 60,800 | $2.31 | |
| 1-C | 1 BR/1 BA+D | 24 | 970 | $1,975 | $47,400 | $568,800 | 23,280 | $2.04 | |
| 2-A | 2 BR/1 BA | 140 | 1,110 | $2,100 | $294,000 | $3,528,000 | 155,400 | $1.89 | |
| 2-B | 2 BR/1.5 BA | 52 | 1,180 | $2,150 | $111,800 | $1,341,600 | 61,360 | $1.82 | |
| 2-C | 2 BR/2 BA | 40 | 1,250 | $2,190 | $87,600 | $1,051,200 | 50,000 | $1.75 | |
| 2-D | 2 BR/2 BA+D | 24 | 1,478 | $2,375 | $57,000 | $684,000 | 35,472 | $1.61 | |
| 3-A | 3 BR/1.5 BA | 64 | 1,500 | $2,750 | $176,000 | $2,112,000 | 96,000 | $1.83 | |
| 3-B | 3 BR/2 BA | 66 | 1,584 | $2,900 | $191,400 | $2,296,800 | 104,544 | $1.83 | |
| 4-A | 4 BR/2 BA | 8 | 1,852 | $3,750 | $30,000 | $360,000 | 14,816 | $2.02 | |
| Total | $1,400,550 | $16,806,600 | 702,628 | ||||||
| Miscellaneous Income | |||||||||
| Number of Units | Monthly Rent/Unit | Monthly Gross Rent | Annual Gross Rent | ||||||
| Garage (Direct Access) | 130 | $150 | $19,500 | $234,000 | |||||
| Carports | 55 | $50 | $2,750 | $33,000 | |||||
| Storage Units | 150 | $175 | $26,250 | $315,000 | |||||
| Total | $48,500 | $582,000 | |||||||
| Operating Expenses | |||||||||
| PSF | Per/Year | ||||||||
| Administration | 0.24 | ||||||||
| Real Estate Taxes | 3.85 | ||||||||
| Advertising & Promotion | 0.34 | ||||||||
| Insurance | 0.45 | ||||||||
| Repairs & Maintenance | 0.76 | ||||||||
| Managment Fee | 0.88 | ||||||||
| Personnel Expense | 1.65 | ||||||||
| Utilities | 0.85 | ||||||||
| Total Operating Expenses | 9.02 | ||||||||
| Capital Expenditures | |||||||||
| PSF | Per/Year | ||||||||
| Capital Expenditures - Reserves | 1.25 | ||||||||
| Total Capital Expenditures | |||||||||
| Year 1 NOI Calculation | |||||||||
| PGI (Rental Revenue) | $16,806,600 | ||||||||
| Vacancy Loss | ($1,680,660) | ||||||||
| Miscellaneous Income | $582,000 | ||||||||
| EGI | $15,707,940 | ||||||||
| Operating Expenses | ($6,283,176) | ||||||||
| Capital Expenditures | ($785,397) | ||||||||
| NOI | $8,639,367 | ||||||||
| Market Value via Direct Capitalization | |||||||||
| Cap Rate | 7.50% | ||||||||
| NOI | $8,639,367 | ||||||||
| Market Value | $115,191,560 |