real estate
xkypy06s9
Valuation.xlsxQuick Eval - BOE
| 808 South Saint Bernard St. Investment Property | ||||||||||||||||||||
| Gross Building Size | 2,304 sf | |||||||||||||||||||
| 1st floor | 1,304 sf | |||||||||||||||||||
| 2nd floor | 500 sf | |||||||||||||||||||
| 3rd floor | 500 sf | |||||||||||||||||||
| Land Area | 0.05 acres | What is CAM? | http://womeninbusiness.about.com/od/commercialleasingterms/g/cam-fees.htm | |||||||||||||||||
| Zoning | RSA-3 | |||||||||||||||||||
| Total | ||||||||||||||||||||
| 1st floor | $148.00 sf | $ 192,992 | ||||||||||||||||||
| 2nd floor | $2,200 per month | 26,400 | ||||||||||||||||||
| 3rd floor | $1,650 per month | 19,800 | ||||||||||||||||||
| Sub-Total | $ 239,192 | |||||||||||||||||||
| Commercial Tenant Tax, Insur, CAM | pro rata | 3,967 | 57% | |||||||||||||||||
| Total | $ 243,159 | |||||||||||||||||||
| Vacancy Loss | 5.00% | $ 12,158 | ||||||||||||||||||
| Collection Loss | 1.00% | 2,432 | ||||||||||||||||||
| Effective Gross Income | $ 228,570 | |||||||||||||||||||
| Real Estate Taxes | $ 3,332 | 0.98% | ||||||||||||||||||
| Property Insurance | 1,428 | |||||||||||||||||||
| Property Maintenance | 2,250 | |||||||||||||||||||
| Porter/Tech Maint. | 15,000 | |||||||||||||||||||
| Property Management | 10.00% | 22,857 | ||||||||||||||||||
| Total | $ 44,867 | Weighted rent average from existing tenants: $17.50 | ||||||||||||||||||
| Net Operating Income | $ 183,703 | |||||||||||||||||||
| multiplied by (1-vacancy rate, assume 5%) *0.95 | ||||||||||||||||||||
| Cost | Per SF | Total | multiplied by (1-management exp, 3%) *0.97 | |||||||||||||||||
| Purchase Price | $ 340,000 | minus reimbursable expenses ($2.00) | ||||||||||||||||||
| Renovation | 43,395 | Average national high end cost of renovations | ||||||||||||||||||
| Closing, Transfer Costs | 5% | 17,000 | ||||||||||||||||||
| Total Costs | $ 400,395 | |||||||||||||||||||
| To Size Value for Lending Purposes | ||||||||||||||||||||
| Net Operating Income for Valuation & Loan Sizing | $ 183,703 | |||||||||||||||||||
| Capitalization Rate | 7.00% | $ 2,624,327 | ||||||||||||||||||
| Loan by LTV Test | 75.00% LTV Ratio | $ 1,968,245 | ||||||||||||||||||
| Interest Rate | 4.29% | |||||||||||||||||||
| Amortization | 30.00 years | |||||||||||||||||||
| Loan Constant | 5.93% | |||||||||||||||||||
| Minimum DSC | 1.30 X | |||||||||||||||||||
| Maximum Loan to Cost | 75.00% | |||||||||||||||||||
| Loan per LTV Ratio | $ 1,968,245 | |||||||||||||||||||
| Loan per DSC Ratio | 2,382,000 | |||||||||||||||||||
| Loan per LTC Ratio | 300,296 | |||||||||||||||||||
| Concluded Loan - Min of LTV, DSC, LTC Tests | $ 300,296 | |||||||||||||||||||
| Concluded Loan to Cost | 75.00% | |||||||||||||||||||
| Selected Loan | $ 300,296 | |||||||||||||||||||
| Annual Payment | $ 17,812 | |||||||||||||||||||
| Required Equity | $ 100,099 | |||||||||||||||||||
| Cash Flow After Debt Service | $ 165,891 | |||||||||||||||||||
| Investor Equity Cash-on-Cash Return | 165.73% | |||||||||||||||||||
| Difference Between our Cost and Value | $ 2,223,932 | |||||||||||||||||||
| Now We Introduce Time to this Analysis… | Year 1 | Year 2 | Year 3 | |||||||||||||||||
| 1st floor | 1.00% increase per yr | 192,992 | 194,922 | 196,871 | ||||||||||||||||
| 2nd floor | 3.00% increase per yr | 26,400 | 27,192 | 28,008 | ||||||||||||||||
| 3rd floor | 3.00% increase per yr | 19,800 | 20,394 | 21,006 | ||||||||||||||||
| $ 239,192 | $ 242,508 | $ 245,885 | ||||||||||||||||||
| Commercial Tenant Tax, Insur, CAM | pro rata | 3,967 | 3,967 | 3,967 | ||||||||||||||||
| Total | $ 243,159 | $ 246,475 | $ 249,852 | |||||||||||||||||
| Vacancy Loss | 5.00% | 12,158 | 12,324 | 12,493 | ||||||||||||||||
| Collection Loss | 1.00% | 2,432 | 2,465 | 2,499 | ||||||||||||||||
| Effective Gross Income | $ 228,570 | $ 231,687 | $ 234,861 | |||||||||||||||||
| Real Estate Taxes | 1.00% increase per yr | $ 3,332 | $ 3,365 | $ 3,399 | ||||||||||||||||
| Property Insurance | 1.00% increase per yr | 1,428 | 1,442 | 1,457 | ||||||||||||||||
| Property Maintenance | 1.00% increase per yr | 2,250 | 2,273 | 2,295 | ||||||||||||||||
| Property Management | 10.00% | $ 22,857 | $ 23,169 | $ 23,486 | ||||||||||||||||
| Total | $ 29,867 | $ 30,249 | $ 30,637 | |||||||||||||||||
| Net Operating Income | $ 198,703 | $ 201,438 | $ 204,224 | |||||||||||||||||
| Debt Service | $ 17,812 | $ 17,812 | $ 17,812 | |||||||||||||||||
| Cash Flow After Debt Service | $ 180,891 | $ 183,626 | $ 186,412 | |||||||||||||||||
| CASH ON CASH RETURN FOR EQUITY | 180.713% | 183.445% | 186.228% | |||||||||||||||||
| Terminal Cap Rate | 9.00% | |||||||||||||||||||
| NOI | Year Three | $ 204,224 | ||||||||||||||||||
| Reversion | 2,269,156 | |||||||||||||||||||
| Less Cost of Sale | 7.00% | 158,841 | ||||||||||||||||||
| Net Reversion | $ 2,110,315 | |||||||||||||||||||
| Less Debt Balance EOY 3 | $ 78,891 | |||||||||||||||||||
| Net Proceeds | $ 2,031,424 | |||||||||||||||||||
| Leveraged IRR | $ (100,099) | $ - | $ 183,626 | $ 2,217,836 | ||||||||||||||||
| 202.60% | ||||||||||||||||||||
Amort
| 808 South Saint Bernard St. Investment Property | ||||||||||||||
| AMORTIZATION (P&I) SCHEDULE | ||||||||||||||
| Loan Amount | $ 83,395 | * | Loan Amount | $83,395 | ||||||||||
| Annual Interest Rate | 4.29% | * | Monthly Interest Rate | 0.36% | ||||||||||
| Years | 30 | * | Term in months | 360 | ||||||||||
| Number of Payments per Year | 12 | * | Debt Serv. Monthly | $412 | ||||||||||
| Debt Serv. Yearly | $4,947 | |||||||||||||
| Amount | Debt | Periods | Accum | Accum | ||||||||||
| Period | Outstanding | Service | Principal | Interest | Remain | Principal | Interest | Year | ||||||
| 0 | 83,395.00 | 360 | ||||||||||||
| 1 | 83,280.93 | 412.21 | 114.07 | 298.14 | 359 | $114 | $298 | Annual Totals | ||||||
| 2 | 83,166.45 | 412.21 | 114.48 | 297.73 | 358 | $229 | $596 | Interest | Principal | P&I | ||||
| 3 | 83,051.56 | 412.21 | 114.89 | 297.32 | 357 | $343 | $893 | 1 | 3,550.41 | 1,396.09 | 4,946.50 | |||
| 4 | 82,936.26 | 412.21 | 115.30 | 296.91 | 356 | $459 | $1,190 | 2 | 3,489.32 | 1,457.18 | 4,946.50 | |||
| 5 | 82,820.55 | 412.21 | 115.71 | 296.50 | 355 | $574 | $1,487 | 3 | 3,425.57 | 1,520.94 | 4,946.50 | |||
| 6 | 82,704.43 | 412.21 | 116.13 | 296.08 | 354 | $691 | $1,783 | 4 | 3,359.02 | 1,587.48 | 4,946.50 | |||
| 7 | 82,587.89 | 412.21 | 116.54 | 295.67 | 353 | $807 | $2,078 | 5 | 3,289.56 | 1,656.94 | 4,946.50 | |||
| 8 | 82,470.93 | 412.21 | 116.96 | 295.25 | 352 | $924 | $2,374 | 6 | 3,217.06 | 1,729.44 | 4,946.50 | |||
| 9 | 82,353.55 | 412.21 | 117.37 | 294.83 | 351 | $1,041 | $2,668 | 7 | 3,141.39 | 1,805.11 | 4,946.50 | |||
| 10 | 82,235.76 | 412.21 | 117.79 | 294.41 | 350 | $1,159 | $2,963 | 8 | 3,062.41 | 1,884.09 | 4,946.50 | |||
| 11 | 82,117.54 | 412.21 | 118.22 | 293.99 | 349 | $1,277 | $3,257 | Principal | Interest | 9 | 2,979.98 | 1,966.52 | 4,946.50 | |
| 12 | 81,998.91 | 412.21 | 118.64 | 293.57 | 348 | $1,396 | $3,550 | 1 | $119 | $294 | 10 | 2,893.94 | 2,052.57 | 4,946.50 |
| 13 | 81,879.84 | 412.21 | 119.06 | 293.15 | 347 | $1,515 | $3,844 | $124 | $288 | 11 | 2,804.13 | 2,142.37 | 4,946.50 | |
| 14 | 81,760.35 | 412.21 | 119.49 | 292.72 | 346 | $1,635 | $4,136 | $129 | $283 | |||||
| 15 | 81,640.44 | 412.21 | 119.92 | 292.29 | 345 | $1,755 | $4,429 | $135 | $277 | |||||
| 16 | 81,520.10 | 412.21 | 120.34 | 291.86 | 344 | $1,875 | $4,720 | $141 | $271 | |||||
| 17 | 81,399.32 | 412.21 | 120.77 | 291.43 | 343 | $1,996 | $5,012 | $147 | $265 | |||||
| 18 | 81,278.12 | 412.21 | 121.21 | 291.00 | 342 | $2,117 | $5,303 | $153 | $259 | |||||
| 19 | 81,156.48 | 412.21 | 121.64 | 290.57 | 341 | $2,239 | $5,593 | $160 | $252 | |||||
| 20 | 81,034.40 | 412.21 | 122.07 | 290.13 | 340 | $2,361 | $5,884 | $167 | $245 | |||||
| 21 | 80,911.89 | 412.21 | 122.51 | 289.70 | 339 | $2,483 | $6,173 | $174 | $238 | |||||
| 22 | 80,788.94 | 412.21 | 122.95 | 289.26 | 338 | $2,606 | $6,463 | $182 | $230 | |||||
| 23 | 80,665.55 | 412.21 | 123.39 | 288.82 | 337 | $2,729 | $6,751 | |||||||
| 24 | 80,541.73 | 412.21 | 123.83 | 288.38 | 336 | $2,853 | $7,040 | 2 | ||||||
| 25 | 80,417.45 | 412.21 | 124.27 | 287.94 | 335 | $2,978 | $7,328 | |||||||
| 26 | 80,292.74 | 412.21 | 124.72 | 287.49 | 334 | $3,102 | $7,615 | |||||||
| 27 | 80,167.58 | 412.21 | 125.16 | 287.05 | 333 | $3,227 | $7,902 | |||||||
| 28 | 80,041.97 | 412.21 | 125.61 | 286.60 | 332 | $3,353 | $8,189 | |||||||
| 29 | 79,915.91 | 412.21 | 126.06 | 286.15 | 331 | $3,479 | $8,475 | |||||||
| 30 | 79,789.40 | 412.21 | 126.51 | 285.70 | 330 | $3,606 | $8,761 | |||||||
| 31 | 79,662.44 | 412.21 | 126.96 | 285.25 | 329 | $3,733 | $9,046 | |||||||
| 32 | 79,535.02 | 412.21 | 127.42 | 284.79 | 328 | $3,860 | $9,331 | |||||||
| 33 | 79,407.15 | 412.21 | 127.87 | 284.34 | 327 | $3,988 | $9,615 | |||||||
| 34 | 79,278.82 | 412.21 | 128.33 | 283.88 | 326 | $4,116 | $9,899 | |||||||
| 35 | 79,150.04 | 412.21 | 128.79 | 283.42 | 325 | $4,245 | $10,182 | |||||||
| 36 | 79,020.79 | 412.21 | 129.25 | 282.96 | 324 | $4,374 | $10,465 | 3 | ||||||
| 37 | 78,891.08 | 412.21 | 129.71 | 282.50 | 323 | $4,504 | $10,748 | |||||||
| 38 | 78,760.91 | 412.21 | 130.17 | 282.04 | 322 | $4,634 | $11,030 | |||||||
| 39 | 78,630.27 | 412.21 | 130.64 | 281.57 | 321 | $4,765 | $11,311 | |||||||
| 40 | 78,499.16 | 412.21 | 131.11 | 281.10 | 320 | $4,896 | $11,593 | |||||||
| 41 | 78,367.59 | 412.21 | 131.57 | 280.63 | 319 | $5,027 | $11,873 | |||||||
| 42 | 78,235.55 | 412.21 | 132.04 | 280.16 | 318 | $5,159 | $12,153 | |||||||
| 43 | 78,103.03 | 412.21 | 132.52 | 279.69 | 317 | $5,292 | $12,433 | |||||||
| 44 | 77,970.04 | 412.21 | 132.99 | 279.22 | 316 | $5,425 | $12,712 | |||||||
| 45 | 77,836.57 | 412.21 | 133.47 | 278.74 | 315 | $5,558 | $12,991 | |||||||
| 46 | 77,702.63 | 412.21 | 133.94 | 278.27 | 314 | $5,692 | $13,269 | |||||||
| 47 | 77,568.21 | 412.21 | 134.42 | 277.79 | 313 | $5,827 | $13,547 | |||||||
| 48 | 77,433.31 | 412.21 | 134.90 | 277.31 | 312 | $5,962 | $13,824 | 4 | ||||||
| 49 | 77,297.92 | 412.21 | 135.38 | 276.82 | 311 | $6,097 | $14,101 | |||||||
| 50 | 77,162.05 | 412.21 | 135.87 | 276.34 | 310 | $6,233 | $14,377 | |||||||
| 51 | 77,025.70 | 412.21 | 136.35 | 275.85 | 309 | $6,369 | $14,653 | |||||||
| 52 | 76,888.86 | 412.21 | 136.84 | 275.37 | 308 | $6,506 | $14,929 | |||||||
| 53 | 76,751.53 | 412.21 | 137.33 | 274.88 | 307 | $6,643 | $15,204 | |||||||
| 54 | 76,613.71 | 412.21 | 137.82 | 274.39 | 306 | $6,781 | $15,478 | |||||||
| 55 | 76,475.39 | 412.21 | 138.31 | 273.89 | 305 | $6,920 | $15,752 | |||||||
| 56 | 76,336.58 | 412.21 | 138.81 | 273.40 | 304 | $7,058 | $16,025 | |||||||
| 57 | 76,197.28 | 412.21 | 139.31 | 272.90 | 303 | $7,198 | $16,298 | |||||||
| 58 | 76,057.47 | 412.21 | 139.80 | 272.41 | 302 | $7,338 | $16,571 | |||||||
| 59 | 75,917.17 | 412.21 | 140.30 | 271.91 | 301 | $7,478 | $16,842 | |||||||
| 60 | 75,776.37 | 412.21 | 140.80 | 271.40 | 300 | $7,619 | $17,114 | 5 | ||||||
| 61 | 75,635.06 | 412.21 | 141.31 | 270.90 | 299 | $7,760 | $17,385 | |||||||
| 62 | 75,493.25 | 412.21 | 141.81 | 270.40 | 298 | $7,902 | $17,655 | |||||||
| 63 | 75,350.93 | 412.21 | 142.32 | 269.89 | 297 | $8,044 | $17,925 | |||||||
| 64 | 75,208.10 | 412.21 | 142.83 | 269.38 | 296 | $8,187 | $18,194 | |||||||
| 65 | 75,064.76 | 412.21 | 143.34 | 268.87 | 295 | $8,330 | $18,463 | |||||||
| 66 | 74,920.90 | 412.21 | 143.85 | 268.36 | 294 | $8,474 | $18,732 | |||||||
| 67 | 74,776.54 | 412.21 | 144.37 | 267.84 | 293 | $8,618 | $19,000 | |||||||
| 68 | 74,631.66 | 412.21 | 144.88 | 267.33 | 292 | $8,763 | $19,267 | |||||||
| 69 | 74,486.26 | 412.21 | 145.40 | 266.81 | 291 | $8,909 | $19,534 | |||||||
| 70 | 74,340.34 | 412.21 | 145.92 | 266.29 | 290 | $9,055 | $19,800 | |||||||
| 71 | 74,193.89 | 412.21 | 146.44 | 265.77 | 289 | $9,201 | $20,066 | |||||||
| 72 | 74,046.93 | 412.21 | 146.97 | 265.24 | 288 | $9,348 | $20,331 | 6 | ||||||
| 73 | 73,899.44 | 412.21 | 147.49 | 264.72 | 287 | $9,496 | $20,596 | |||||||
| 74 | 73,751.42 | 412.21 | 148.02 | 264.19 | 286 | $9,644 | $20,860 | |||||||
| 75 | 73,602.87 | 412.21 | 148.55 | 263.66 | 285 | $9,792 | $21,124 | |||||||
| 76 | 73,453.79 | 412.21 | 149.08 | 263.13 | 284 | $9,941 | $21,387 | |||||||
| 77 | 73,304.18 | 412.21 | 149.61 | 262.60 | 283 | $10,091 | $21,649 | |||||||
| 78 | 73,154.04 | 412.21 | 150.15 | 262.06 | 282 | $10,241 | $21,911 | |||||||
| 79 | 73,003.35 | 412.21 | 150.68 | 261.53 | 281 | $10,392 | $22,173 | |||||||
| 80 | 72,852.13 | 412.21 | 151.22 | 260.99 | 280 | $10,543 | $22,434 | |||||||
| 81 | 72,700.37 | 412.21 | 151.76 | 260.45 | 279 | $10,695 | $22,694 | |||||||
| 82 | 72,548.07 | 412.21 | 152.30 | 259.90 | 278 | $10,847 | $22,954 | |||||||
| 83 | 72,395.22 | 412.21 | 152.85 | 259.36 | 277 | $11,000 | $23,214 | |||||||
| 84 | 72,241.82 | 412.21 | 153.40 | 258.81 | 276 | $11,153 | $23,472 | 7 | ||||||
| 85 | 72,087.88 | 412.21 | 153.94 | 258.26 | 275 | $11,307 | $23,731 | |||||||
| 86 | 71,933.38 | 412.21 | 154.49 | 257.71 | 274 | $11,462 | $23,988 | |||||||
| 87 | 71,778.34 | 412.21 | 155.05 | 257.16 | 273 | $11,617 | $24,245 | |||||||
| 88 | 71,622.74 | 412.21 | 155.60 | 256.61 | 272 | $11,772 | $24,502 | |||||||
| 89 | 71,466.58 | 412.21 | 156.16 | 256.05 | 271 | $11,928 | $24,758 | |||||||
| 90 | 71,309.86 | 412.21 | 156.72 | 255.49 | 270 | $12,085 | $25,014 | |||||||
| 91 | 71,152.59 | 412.21 | 157.28 | 254.93 | 269 | $12,242 | $25,269 | |||||||
| 92 | 70,994.75 | 412.21 | 157.84 | 254.37 | 268 | $12,400 | $25,523 | |||||||
| 93 | 70,836.35 | 412.21 | 158.40 | 253.81 | 267 | $12,559 | $25,777 | |||||||
| 94 | 70,677.38 | 412.21 | 158.97 | 253.24 | 266 | $12,718 | $26,030 | |||||||
| 95 | 70,517.84 | 412.21 | 159.54 | 252.67 | 265 | $12,877 | $26,283 | |||||||
| 96 | 70,357.73 | 412.21 | 160.11 | 252.10 | 264 | $13,037 | $26,535 | 8 | ||||||
| 97 | 70,197.05 | 412.21 | 160.68 | 251.53 | 263 | $13,198 | $26,786 | |||||||
| 98 | 70,035.80 | 412.21 | 161.25 | 250.95 | 262 | $13,359 | $27,037 | |||||||
| 99 | 69,873.97 | 412.21 | 161.83 | 250.38 | 261 | $13,521 | $27,288 | |||||||
| 100 | 69,711.56 | 412.21 | 162.41 | 249.80 | 260 | $13,683 | $27,537 | |||||||
| 101 | 69,548.57 | 412.21 | 162.99 | 249.22 | 259 | $13,846 | $27,787 | |||||||
| 102 | 69,385.00 | 412.21 | 163.57 | 248.64 | 258 | $14,010 | $28,035 | |||||||
| 103 | 69,220.84 | 412.21 | 164.16 | 248.05 | 257 | $14,174 | $28,283 | |||||||
| 104 | 69,056.10 | 412.21 | 164.74 | 247.46 | 256 | $14,339 | $28,531 | |||||||
| 105 | 68,890.76 | 412.21 | 165.33 | 246.88 | 255 | $14,504 | $28,778 | |||||||
| 106 | 68,724.84 | 412.21 | 165.92 | 246.28 | 254 | $14,670 | $29,024 | |||||||
| 107 | 68,558.32 | 412.21 | 166.52 | 245.69 | 253 | $14,837 | $29,270 | |||||||
| 108 | 68,391.21 | 412.21 | 167.11 | 245.10 | 252 | $15,004 | $29,515 | 9 | ||||||
| 109 | 68,223.50 | 412.21 | 167.71 | 244.50 | 251 | $15,171 | $29,759 | |||||||
| 110 | 68,055.19 | 412.21 | 168.31 | 243.90 | 250 | $15,340 | $30,003 | |||||||
| 111 | 67,886.28 | 412.21 | 168.91 | 243.30 | 249 | $15,509 | $30,246 | |||||||
| 112 | 67,716.77 | 412.21 | 169.52 | 242.69 | 248 | $15,678 | $30,489 | |||||||
| 113 | 67,546.64 | 412.21 | 170.12 | 242.09 | 247 | $15,848 | $30,731 | |||||||
| 114 | 67,375.91 | 412.21 | 170.73 | 241.48 | 246 | $16,019 | $30,973 | |||||||
| 115 | 67,204.58 | 412.21 | 171.34 | 240.87 | 245 | $16,190 | $31,214 | |||||||
| 116 | 67,032.62 | 412.21 | 171.95 | 240.26 | 244 | $16,362 | $31,454 | |||||||
| 117 | 66,860.06 | 412.21 | 172.57 | 239.64 | 243 | $16,535 | $31,693 | |||||||
| 118 | 66,686.87 | 412.21 | 173.18 | 239.02 | 242 | $16,708 | $31,932 | |||||||
| 119 | 66,513.07 | 412.21 | 173.80 | 238.41 | 241 | $16,882 | $32,171 | |||||||
| 120 | 66,338.65 | 412.21 | 174.42 | 237.78 | 240 | $17,056 | $32,409 | 10 | ||||||
| 121 | 66,163.60 | 412.21 | 175.05 | 237.16 | 239 | $17,231 | $32,646 | |||||||
| 122 | 65,987.92 | 412.21 | 175.67 | 236.53 | 238 | $17,407 | $32,882 | |||||||
| 123 | 65,811.62 | 412.21 | 176.30 | 235.91 | 237 | $17,583 | $33,118 | |||||||
| 124 | 65,634.69 | 412.21 | 176.93 | 235.28 | 236 | $17,760 | $33,354 | |||||||
| 125 | 65,457.13 | 412.21 | 177.56 | 234.64 | 235 | $17,938 | $33,588 | |||||||
| 126 | 65,278.93 | 412.21 | 178.20 | 234.01 | 234 | $18,116 | $33,822 | |||||||
| 127 | 65,100.09 | 412.21 | 178.84 | 233.37 | 233 | $18,295 | $34,056 | |||||||
| 128 | 64,920.61 | 412.21 | 179.48 | 232.73 | 232 | $18,474 | $34,288 | |||||||
| 129 | 64,740.50 | 412.21 | 180.12 | 232.09 | 231 | $18,655 | $34,520 | |||||||
| 130 | 64,559.74 | 412.21 | 180.76 | 231.45 | 230 | $18,835 | $34,752 | |||||||
| 131 | 64,378.33 | 412.21 | 181.41 | 230.80 | 229 | $19,017 | $34,983 | |||||||
| 132 | 64,196.27 | 412.21 | 182.06 | 230.15 | 228 | $19,199 | $35,213 | 11 | ||||||
| 133 | 64,013.57 | 412.21 | 182.71 | 229.50 | 227 | $19,381 | $35,442 | |||||||
| 134 | 63,830.21 | 412.21 | 183.36 | 228.85 | 226 | $19,565 | $35,671 | |||||||
| 135 | 63,646.19 | 412.21 | 184.02 | 228.19 | 225 | $19,749 | $35,899 | |||||||
| 136 | 63,461.52 | 412.21 | 184.67 | 227.54 | 224 | $19,933 | $36,127 | |||||||
| 137 | 63,276.18 | 412.21 | 185.33 | 226.87 | 223 | $20,119 | $36,354 | |||||||
| 138 | 63,090.19 | 412.21 | 186.00 | 226.21 | 222 | $20,305 | $36,580 | |||||||
| 139 | 62,903.53 | 412.21 | 186.66 | 225.55 | 221 | $20,491 | $36,806 | |||||||
| 140 | 62,716.20 | 412.21 | 187.33 | 224.88 | 220 | $20,679 | $37,030 | |||||||
| 141 | 62,528.20 | 412.21 | 188.00 | 224.21 | 219 | $20,867 | $37,255 | |||||||
| 142 | 62,339.53 | 412.21 | 188.67 | 223.54 | 218 | $21,055 | $37,478 | |||||||
| 143 | 62,150.18 | 412.21 | 189.34 | 222.86 | 217 | $21,245 | $37,701 | |||||||
| 144 | 61,960.16 | 412.21 | 190.02 | 222.19 | 216 | $21,435 | $37,923 | |||||||
| 145 | 61,769.46 | 412.21 | 190.70 | 221.51 | 215 | $21,626 | $38,145 | |||||||
| 146 | 61,578.08 | 412.21 | 191.38 | 220.83 | 214 | $21,817 | $38,366 | |||||||
| 147 | 61,386.01 | 412.21 | 192.07 | 220.14 | 213 | $22,009 | $38,586 | |||||||
| 148 | 61,193.26 | 412.21 | 192.75 | 219.45 | 212 | $22,202 | $38,805 | |||||||
| 149 | 60,999.82 | 412.21 | 193.44 | 218.77 | 211 | $22,395 | $39,024 | |||||||
| 150 | 60,805.68 | 412.21 | 194.13 | 218.07 | 210 | $22,589 | $39,242 | |||||||
| 151 | 60,610.85 | 412.21 | 194.83 | 217.38 | 209 | $22,784 | $39,459 | |||||||
| 152 | 60,415.33 | 412.21 | 195.52 | 216.68 | 208 | $22,980 | $39,676 | |||||||
| 153 | 60,219.11 | 412.21 | 196.22 | 215.98 | 207 | $23,176 | $39,892 | |||||||
| 154 | 60,022.18 | 412.21 | 196.93 | 215.28 | 206 | $23,373 | $40,107 | |||||||
| 155 | 59,824.55 | 412.21 | 197.63 | 214.58 | 205 | $23,570 | $40,322 | |||||||
| 156 | 59,626.22 | 412.21 | 198.34 | 213.87 | 204 | $23,769 | $40,536 | |||||||
| 157 | 59,427.17 | 412.21 | 199.04 | 213.16 | 203 | $23,968 | $40,749 | |||||||
| 158 | 59,227.41 | 412.21 | 199.76 | 212.45 | 202 | $24,168 | $40,961 | |||||||
| 159 | 59,026.94 | 412.21 | 200.47 | 211.74 | 201 | $24,368 | $41,173 | |||||||
| 160 | 58,825.76 | 412.21 | 201.19 | 211.02 | 200 | $24,569 | $41,384 | |||||||
| 161 | 58,623.85 | 412.21 | 201.91 | 210.30 | 199 | $24,771 | $41,594 | |||||||
| 162 | 58,421.22 | 412.21 | 202.63 | 209.58 | 198 | $24,974 | $41,804 | |||||||
| 163 | 58,217.87 | 412.21 | 203.35 | 208.86 | 197 | $25,177 | $42,013 | |||||||
| 164 | 58,013.79 | 412.21 | 204.08 | 208.13 | 196 | $25,381 | $42,221 | |||||||
| 165 | 57,808.98 | 412.21 | 204.81 | 207.40 | 195 | $25,586 | $42,428 | |||||||
| 166 | 57,603.44 | 412.21 | 205.54 | 206.67 | 194 | $25,792 | $42,635 | |||||||
| 167 | 57,397.16 | 412.21 | 206.28 | 205.93 | 193 | $25,998 | $42,841 | |||||||
| 168 | 57,190.15 | 412.21 | 207.01 | 205.19 | 192 | $26,205 | $43,046 | |||||||
| 169 | 56,982.40 | 412.21 | 207.75 | 204.45 | 191 | $26,413 | $43,251 | |||||||
| 170 | 56,773.90 | 412.21 | 208.50 | 203.71 | 190 | $26,621 | $43,454 | |||||||
| 171 | 56,564.66 | 412.21 | 209.24 | 202.97 | 189 | $26,830 | $43,657 | |||||||
| 172 | 56,354.67 | 412.21 | 209.99 | 202.22 | 188 | $27,040 | $43,860 | |||||||
| 173 | 56,143.93 | 412.21 | 210.74 | 201.47 | 187 | $27,251 | $44,061 | |||||||
| 174 | 55,932.43 | 412.21 | 211.49 | 200.71 | 186 | $27,463 | $44,262 | |||||||
| 175 | 55,720.18 | 412.21 | 212.25 | 199.96 | 185 | $27,675 | $44,462 | |||||||
| 176 | 55,507.17 | 412.21 | 213.01 | 199.20 | 184 | $27,888 | $44,661 | |||||||
| 177 | 55,293.40 | 412.21 | 213.77 | 198.44 | 183 | $28,102 | $44,859 | |||||||
| 178 | 55,078.87 | 412.21 | 214.53 | 197.67 | 182 | $28,316 | $45,057 | |||||||
| 179 | 54,863.57 | 412.21 | 215.30 | 196.91 | 181 | $28,531 | $45,254 | |||||||
| 180 | 54,647.50 | 412.21 | 216.07 | 196.14 | 180 | $28,748 | $45,450 | |||||||
| 181 | 54,430.65 | 412.21 | 216.84 | 195.36 | 179 | $28,964 | $45,645 | |||||||
| 182 | 54,213.03 | 412.21 | 217.62 | 194.59 | 178 | $29,182 | $45,840 | |||||||
| 183 | 53,994.64 | 412.21 | 218.40 | 193.81 | 177 | $29,400 | $46,034 | |||||||
| 184 | 53,775.46 | 412.21 | 219.18 | 193.03 | 176 | $29,620 | $46,227 | |||||||
| 185 | 53,555.50 | 412.21 | 219.96 | 192.25 | 175 | $29,840 | $46,419 | |||||||
| 186 | 53,334.75 | 412.21 | 220.75 | 191.46 | 174 | $30,060 | $46,611 | |||||||
| 187 | 53,113.21 | 412.21 | 221.54 | 190.67 | 173 | $30,282 | $46,801 | |||||||
| 188 | 52,890.89 | 412.21 | 222.33 | 189.88 | 172 | $30,504 | $46,991 | |||||||
| 189 | 52,667.76 | 412.21 | 223.12 | 189.08 | 171 | $30,727 | $47,180 | |||||||
| 190 | 52,443.84 | 412.21 | 223.92 | 188.29 | 170 | $30,951 | $47,368 | |||||||
| 191 | 52,219.12 | 412.21 | 224.72 | 187.49 | 169 | $31,176 | $47,556 | |||||||
| 192 | 51,993.59 | 412.21 | 225.53 | 186.68 | 168 | $31,401 | $47,743 | |||||||
| 193 | 51,767.26 | 412.21 | 226.33 | 185.88 | 167 | $31,628 | $47,929 | |||||||
| 194 | 51,540.12 | 412.21 | 227.14 | 185.07 | 166 | $31,855 | $48,114 | |||||||
| 195 | 51,312.17 | 412.21 | 227.95 | 184.26 | 165 | $32,083 | $48,298 | |||||||
| 196 | 51,083.40 | 412.21 | 228.77 | 183.44 | 164 | $32,312 | $48,481 | |||||||
| 197 | 50,853.82 | 412.21 | 229.59 | 182.62 | 163 | $32,541 | $48,664 | |||||||
| 198 | 50,623.41 | 412.21 | 230.41 | 181.80 | 162 | $32,772 | $48,846 | |||||||
| 199 | 50,392.18 | 412.21 | 231.23 | 180.98 | 161 | $33,003 | $49,027 | |||||||
| 200 | 50,160.12 | 412.21 | 232.06 | 180.15 | 160 | $33,235 | $49,207 | |||||||
| 201 | 49,927.24 | 412.21 | 232.89 | 179.32 | 159 | $33,468 | $49,386 | |||||||
| 202 | 49,693.52 | 412.21 | 233.72 | 178.49 | 158 | $33,701 | $49,565 | |||||||
| 203 | 49,458.96 | 412.21 | 234.55 | 177.65 | 157 | $33,936 | $49,742 | |||||||
| 204 | 49,223.57 | 412.21 | 235.39 | 176.82 | 156 | $34,171 | $49,919 | |||||||
| 205 | 48,987.34 | 412.21 | 236.23 | 175.97 | 155 | $34,408 | $50,095 | |||||||
| 206 | 48,750.26 | 412.21 | 237.08 | 175.13 | 154 | $34,645 | $50,270 | |||||||
| 207 | 48,512.33 | 412.21 | 237.93 | 174.28 | 153 | $34,883 | $50,444 | |||||||
| 208 | 48,273.56 | 412.21 | 238.78 | 173.43 | 152 | $35,121 | $50,618 | |||||||
| 209 | 48,033.93 | 412.21 | 239.63 | 172.58 | 151 | $35,361 | $50,791 | |||||||
| 210 | 47,793.44 | 412.21 | 240.49 | 171.72 | 150 | $35,602 | $50,962 | |||||||
| 211 | 47,552.09 | 412.21 | 241.35 | 170.86 | 149 | $35,843 | $51,133 | |||||||
| 212 | 47,309.88 | 412.21 | 242.21 | 170.00 | 148 | $36,085 | $51,303 | |||||||
| 213 | 47,066.81 | 412.21 | 243.08 | 169.13 | 147 | $36,328 | $51,472 | |||||||
| 214 | 46,822.86 | 412.21 | 243.94 | 168.26 | 146 | $36,572 | $51,640 | |||||||
| 215 | 46,578.04 | 412.21 | 244.82 | 167.39 | 145 | $36,817 | $51,808 | |||||||
| 216 | 46,332.35 | 412.21 | 245.69 | 166.52 | 144 | $37,063 | $51,974 | |||||||
| 217 | 46,085.78 | 412.21 | 246.57 | 165.64 | 143 | $37,309 | $52,140 | |||||||
| 218 | 45,838.33 | 412.21 | 247.45 | 164.76 | 142 | $37,557 | $52,305 | |||||||
| 219 | 45,589.99 | 412.21 | 248.34 | 163.87 | 141 | $37,805 | $52,469 | |||||||
| 220 | 45,340.77 | 412.21 | 249.22 | 162.98 | 140 | $38,054 | $52,632 | |||||||
| 221 | 45,090.65 | 412.21 | 250.12 | 162.09 | 139 | $38,304 | $52,794 | |||||||
| 222 | 44,839.64 | 412.21 | 251.01 | 161.20 | 138 | $38,555 | $52,955 | |||||||
| 223 | 44,587.74 | 412.21 | 251.91 | 160.30 | 137 | $38,807 | $53,115 | |||||||
| 224 | 44,334.93 | 412.21 | 252.81 | 159.40 | 136 | $39,060 | $53,275 | |||||||
| 225 | 44,081.22 | 412.21 | 253.71 | 158.50 | 135 | $39,314 | $53,433 | |||||||
| 226 | 43,826.60 | 412.21 | 254.62 | 157.59 | 134 | $39,568 | $53,591 | |||||||
| 227 | 43,571.07 | 412.21 | 255.53 | 156.68 | 133 | $39,824 | $53,747 | |||||||
| 228 | 43,314.63 | 412.21 | 256.44 | 155.77 | 132 | $40,080 | $53,903 | |||||||
| 229 | 43,057.27 | 412.21 | 257.36 | 154.85 | 131 | $40,338 | $54,058 | |||||||
| 230 | 42,798.99 | 412.21 | 258.28 | 153.93 | 130 | $40,596 | $54,212 | |||||||
| 231 | 42,539.79 | 412.21 | 259.20 | 153.01 | 129 | $40,855 | $54,365 | |||||||
| 232 | 42,279.66 | 412.21 | 260.13 | 152.08 | 128 | $41,115 | $54,517 | |||||||
| 233 | 42,018.60 | 412.21 | 261.06 | 151.15 | 127 | $41,376 | $54,668 | |||||||
| 234 | 41,756.61 | 412.21 | 261.99 | 150.22 | 126 | $41,638 | $54,818 | |||||||
| 235 | 41,493.68 | 412.21 | 262.93 | 149.28 | 125 | $41,901 | $54,968 | |||||||
| 236 | 41,229.81 | 412.21 | 263.87 | 148.34 | 124 | $42,165 | $55,116 | |||||||
| 237 | 40,965.00 | 412.21 | 264.81 | 147.40 | 123 | $42,430 | $55,263 | |||||||
| 238 | 40,699.24 | 412.21 | 265.76 | 146.45 | 122 | $42,696 | $55,410 | |||||||
| 239 | 40,432.54 | 412.21 | 266.71 | 145.50 | 121 | $42,962 | $55,555 | |||||||
| 240 | 40,164.87 | 412.21 | 267.66 | 144.55 | 120 | $43,230 | $55,700 | |||||||
| 241 | 39,896.25 | 412.21 | 268.62 | 143.59 | 119 | $43,499 | $55,844 | |||||||
| 242 | 39,626.67 | 412.21 | 269.58 | 142.63 | 118 | $43,768 | $55,986 | |||||||
| 243 | 39,356.13 | 412.21 | 270.54 | 141.67 | 117 | $44,039 | $56,128 | |||||||
| 244 | 39,084.62 | 412.21 | 271.51 | 140.70 | 116 | $44,310 | $56,268 | |||||||
| 245 | 38,812.14 | 412.21 | 272.48 | 139.73 | 115 | $44,583 | $56,408 | |||||||
| 246 | 38,538.69 | 412.21 | 273.46 | 138.75 | 114 | $44,856 | $56,547 | |||||||
| 247 | 38,264.25 | 412.21 | 274.43 | 137.78 | 113 | $45,131 | $56,685 | |||||||
| 248 | 37,988.84 | 412.21 | 275.41 | 136.79 | 112 | $45,406 | $56,822 | |||||||
| 249 | 37,712.44 | 412.21 | 276.40 | 135.81 | 111 | $45,683 | $56,957 | |||||||
| 250 | 37,435.05 | 412.21 | 277.39 | 134.82 | 110 | $45,960 | $57,092 | |||||||
| 251 | 37,156.68 | 412.21 | 278.38 | 133.83 | 109 | $46,238 | $57,226 | |||||||
| 252 | 36,877.30 | 412.21 | 279.37 | 132.84 | 108 | $46,518 | $57,359 | |||||||
| 253 | 36,596.93 | 412.21 | 280.37 | 131.84 | 107 | $46,798 | $57,491 | |||||||
| 254 | 36,315.56 | 412.21 | 281.37 | 130.83 | 106 | $47,079 | $57,622 | |||||||
| 255 | 36,033.18 | 412.21 | 282.38 | 129.83 | 105 | $47,362 | $57,751 | |||||||
| 256 | 35,749.79 | 412.21 | 283.39 | 128.82 | 104 | $47,645 | $57,880 | |||||||
| 257 | 35,465.38 | 412.21 | 284.40 | 127.81 | 103 | $47,930 | $58,008 | |||||||
| 258 | 35,179.96 | 412.21 | 285.42 | 126.79 | 102 | $48,215 | $58,135 | |||||||
| 259 | 34,893.52 | 412.21 | 286.44 | 125.77 | 101 | $48,501 | $58,261 | |||||||
| 260 | 34,606.06 | 412.21 | 287.46 | 124.74 | 100 | $48,789 | $58,385 | |||||||
| 261 | 34,317.57 | 412.21 | 288.49 | 123.72 | 99 | $49,077 | $58,509 | |||||||
| 262 | 34,028.04 | 412.21 | 289.52 | 122.69 | 98 | $49,367 | $58,632 | |||||||
| 263 | 33,737.49 | 412.21 | 290.56 | 121.65 | 97 | $49,658 | $58,753 | |||||||
| 264 | 33,445.89 | 412.21 | 291.60 | 120.61 | 96 | $49,949 | $58,874 | |||||||
| 265 | 33,153.25 | 412.21 | 292.64 | 119.57 | 95 | $50,242 | $58,994 | |||||||
| 266 | 32,859.56 | 412.21 | 293.69 | 118.52 | 94 | $50,535 | $59,112 | |||||||
| 267 | 32,564.83 | 412.21 | 294.74 | 117.47 | 93 | $50,830 | $59,229 | |||||||
| 268 | 32,269.04 | 412.21 | 295.79 | 116.42 | 92 | $51,126 | $59,346 | |||||||
| 269 | 31,972.19 | 412.21 | 296.85 | 115.36 | 91 | $51,423 | $59,461 | |||||||
| 270 | 31,674.28 | 412.21 | 297.91 | 114.30 | 90 | $51,721 | $59,576 | |||||||
| 271 | 31,375.31 | 412.21 | 298.97 | 113.24 | 89 | $52,020 | $59,689 | |||||||
| 272 | 31,075.27 | 412.21 | 300.04 | 112.17 | 88 | $52,320 | $59,801 | |||||||
| 273 | 30,774.15 | 412.21 | 301.11 | 111.09 | 87 | $52,621 | $59,912 | |||||||
| 274 | 30,471.96 | 412.21 | 302.19 | 110.02 | 86 | $52,923 | $60,022 | |||||||
| 275 | 30,168.69 | 412.21 | 303.27 | 108.94 | 85 | $53,226 | $60,131 | |||||||
| 276 | 29,864.34 | 412.21 | 304.36 | 107.85 | 84 | $53,531 | $60,239 | |||||||
| 277 | 29,558.89 | 412.21 | 305.44 | 106.77 | 83 | $53,836 | $60,346 | |||||||
| 278 | 29,252.36 | 412.21 | 306.54 | 105.67 | 82 | $54,143 | $60,451 | |||||||
| 279 | 28,944.73 | 412.21 | 307.63 | 104.58 | 81 | $54,450 | $60,556 | |||||||
| 280 | 28,636.00 | 412.21 | 308.73 | 103.48 | 80 | $54,759 | $60,659 | |||||||
| 281 | 28,326.16 | 412.21 | 309.83 | 102.37 | 79 | $55,069 | $60,762 | |||||||
| 282 | 28,015.22 | 412.21 | 310.94 | 101.27 | 78 | $55,380 | $60,863 | |||||||
| 283 | 27,703.16 | 412.21 | 312.05 | 100.15 | 77 | $55,692 | $60,963 | |||||||
| 284 | 27,389.99 | 412.21 | 313.17 | 99.04 | 76 | $56,005 | $61,062 | |||||||
| 285 | 27,075.71 | 412.21 | 314.29 | 97.92 | 75 | $56,319 | $61,160 | |||||||
| 286 | 26,760.29 | 412.21 | 315.41 | 96.80 | 74 | $56,635 | $61,257 | |||||||
| 287 | 26,443.75 | 412.21 | 316.54 | 95.67 | 73 | $56,951 | $61,353 | |||||||
| 288 | 26,126.08 | 412.21 | 317.67 | 94.54 | 72 | $57,269 | $61,447 | |||||||
| 289 | 25,807.27 | 412.21 | 318.81 | 93.40 | 71 | $57,588 | $61,541 | |||||||
| 290 | 25,487.32 | 412.21 | 319.95 | 92.26 | 70 | $57,908 | $61,633 | |||||||
| 291 | 25,166.23 | 412.21 | 321.09 | 91.12 | 69 | $58,229 | $61,724 | |||||||
| 292 | 24,843.99 | 412.21 | 322.24 | 89.97 | 68 | $58,551 | $61,814 | |||||||
| 293 | 24,520.60 | 412.21 | 323.39 | 88.82 | 67 | $58,874 | $61,903 | |||||||
| 294 | 24,196.06 | 412.21 | 324.55 | 87.66 | 66 | $59,199 | $61,990 | |||||||
| 295 | 23,870.35 | 412.21 | 325.71 | 86.50 | 65 | $59,525 | $62,077 | |||||||
| 296 | 23,543.48 | 412.21 | 326.87 | 85.34 | 64 | $59,852 | $62,162 | |||||||
| 297 | 23,215.44 | 412.21 | 328.04 | 84.17 | 63 | $60,180 | $62,246 | |||||||
| 298 | 22,886.22 | 412.21 | 329.21 | 83.00 | 62 | $60,509 | $62,329 | |||||||
| 299 | 22,555.83 | 412.21 | 330.39 | 81.82 | 61 | $60,839 | $62,411 | |||||||
| 300 | 22,224.26 | 412.21 | 331.57 | 80.64 | 60 | $61,171 | $62,492 | |||||||
| 301 | 21,891.50 | 412.21 | 332.76 | 79.45 | 59 | $61,503 | $62,571 | |||||||
| 302 | 21,557.56 | 412.21 | 333.95 | 78.26 | 58 | $61,837 | $62,650 | |||||||
| 303 | 21,222.42 | 412.21 | 335.14 | 77.07 | 57 | $62,173 | $62,727 | |||||||
| 304 | 20,886.08 | 412.21 | 336.34 | 75.87 | 56 | $62,509 | $62,802 | |||||||
| 305 | 20,548.54 | 412.21 | 337.54 | 74.67 | 55 | $62,846 | $62,877 | |||||||
| 306 | 20,209.79 | 412.21 | 338.75 | 73.46 | 54 | $63,185 | $62,951 | |||||||
| 307 | 19,869.83 | 412.21 | 339.96 | 72.25 | 53 | $63,525 | $63,023 | |||||||
| 308 | 19,528.66 | 412.21 | 341.17 | 71.03 | 52 | $63,866 | $63,094 | |||||||
| 309 | 19,186.26 | 412.21 | 342.39 | 69.81 | 51 | $64,209 | $63,164 | |||||||
| 310 | 18,842.65 | 412.21 | 343.62 | 68.59 | 50 | $64,552 | $63,232 | |||||||
| 311 | 18,497.80 | 412.21 | 344.85 | 67.36 | 49 | $64,897 | $63,300 | |||||||
| 312 | 18,151.72 | 412.21 | 346.08 | 66.13 | 48 | $65,243 | $63,366 | |||||||
| 313 | 17,804.41 | 412.21 | 347.32 | 64.89 | 47 | $65,591 | $63,431 | |||||||
| 314 | 17,455.85 | 412.21 | 348.56 | 63.65 | 46 | $65,939 | $63,494 | |||||||
| 315 | 17,106.04 | 412.21 | 349.80 | 62.40 | 45 | $66,289 | $63,557 | |||||||
| 316 | 16,754.99 | 412.21 | 351.05 | 61.15 | 44 | $66,640 | $63,618 | |||||||
| 317 | 16,402.68 | 412.21 | 352.31 | 59.90 | 43 | $66,992 | $63,678 | |||||||
| 318 | 16,049.11 | 412.21 | 353.57 | 58.64 | 42 | $67,346 | $63,736 | |||||||
| 319 | 15,694.28 | 412.21 | 354.83 | 57.38 | 41 | $67,701 | $63,794 | |||||||
| 320 | 15,338.18 | 412.21 | 356.10 | 56.11 | 40 | $68,057 | $63,850 | |||||||
| 321 | 14,980.80 | 412.21 | 357.37 | 54.83 | 39 | $68,414 | $63,905 | |||||||
| 322 | 14,622.15 | 412.21 | 358.65 | 53.56 | 38 | $68,773 | $63,958 | |||||||
| 323 | 14,262.22 | 412.21 | 359.93 | 52.27 | 37 | $69,133 | $64,011 | |||||||
| 324 | 13,901.00 | 412.21 | 361.22 | 50.99 | 36 | $69,494 | $64,062 | |||||||
| 325 | 13,538.48 | 412.21 | 362.51 | 49.70 | 35 | $69,857 | $64,111 | |||||||
| 326 | 13,174.67 | 412.21 | 363.81 | 48.40 | 34 | $70,220 | $64,160 | |||||||
| 327 | 12,809.57 | 412.21 | 365.11 | 47.10 | 33 | $70,585 | $64,207 | |||||||
| 328 | 12,443.15 | 412.21 | 366.41 | 45.79 | 32 | $70,952 | $64,253 | |||||||
| 329 | 12,075.43 | 412.21 | 367.72 | 44.48 | 31 | $71,320 | $64,297 | |||||||
| 330 | 11,706.39 | 412.21 | 369.04 | 43.17 | 30 | $71,689 | $64,340 | |||||||
| 331 | 11,336.03 | 412.21 | 370.36 | 41.85 | 29 | 72,058.97 | 64,382.04 | |||||||
| 332 | 10,964.35 | 412.21 | 371.68 | 40.53 | 28 | 72,430.65 | 64,422.57 | |||||||
| 333 | 10,591.34 | 412.21 | 373.01 | 39.20 | 27 | 72,803.66 | 64,461.77 | |||||||
| 334 | 10,216.99 | 412.21 | 374.34 | 37.86 | 26 | 73,178.01 | 64,499.63 | |||||||
| 335 | 9,841.31 | 412.21 | 375.68 | 36.53 | 25 | 73,553.69 | 64,536.16 | |||||||
| 336 | 9,464.28 | 412.21 | 377.03 | 35.18 | 24 | 73,930.72 | 64,571.34 | |||||||
| 337 | 9,085.91 | 412.21 | 378.37 | 33.83 | 23 | 74,309.09 | 64,605.17 | |||||||
| 338 | 8,706.18 | 412.21 | 379.73 | 32.48 | 22 | 74,688.82 | 64,637.66 | |||||||
| 339 | 8,325.10 | 412.21 | 381.08 | 31.12 | 21 | 75,069.90 | 64,668.78 | |||||||
| 340 | 7,942.65 | 412.21 | 382.45 | 29.76 | 20 | 75,452.35 | 64,698.54 | |||||||
| 341 | 7,558.84 | 412.21 | 383.81 | 28.39 | 19 | 75,836.16 | 64,726.94 | |||||||
| 342 | 7,173.65 | 412.21 | 385.19 | 27.02 | 18 | 76,221.35 | 64,753.96 | |||||||
| 343 | 6,787.09 | 412.21 | 386.56 | 25.65 | 17 | 76,607.91 | 64,779.61 | |||||||
| 344 | 6,399.15 | 412.21 | 387.94 | 24.26 | 16 | 76,995.85 | 64,803.87 | |||||||
| 345 | 6,009.82 | 412.21 | 389.33 | 22.88 | 15 | 77,385.18 | 64,826.75 | |||||||
| 346 | 5,619.09 | 412.21 | 390.72 | 21.49 | 14 | 77,775.91 | 64,848.23 | |||||||
| 347 | 5,226.97 | 412.21 | 392.12 | 20.09 | 13 | 78,168.03 | 64,868.32 | |||||||
| 348 | 4,833.45 | 412.21 | 393.52 | 18.69 | 12 | 78,561.55 | 64,887.01 | |||||||
| 349 | 4,438.52 | 412.21 | 394.93 | 17.28 | 11 | 78,956.48 | 64,904.29 | |||||||
| 350 | 4,042.18 | 412.21 | 396.34 | 15.87 | 10 | 79,352.82 | 64,920.15 | |||||||
| 351 | 3,644.42 | 412.21 | 397.76 | 14.45 | 9 | 79,750.58 | 64,934.61 | |||||||
| 352 | 3,245.24 | 412.21 | 399.18 | 13.03 | 8 | 80,149.76 | 64,947.63 | |||||||
| 353 | 2,844.64 | 412.21 | 400.61 | 11.60 | 7 | 80,550.36 | 64,959.24 | |||||||
| 354 | 2,442.60 | 412.21 | 402.04 | 10.17 | 6 | 80,952.40 | 64,969.41 | |||||||
| 355 | 2,039.12 | 412.21 | 403.48 | 8.73 | 5 | 81,355.88 | 64,978.14 | |||||||
| 356 | 1,634.20 | 412.21 | 404.92 | 7.29 | 4 | 81,760.80 | 64,985.43 | |||||||
| 357 | 1,227.84 | 412.21 | 406.37 | 5.84 | 3 | 82,167.16 | 64,991.27 | |||||||
| 358 | 820.02 | 412.21 | 407.82 | 4.39 | 2 | 82,574.98 | 64,995.66 | |||||||
| 359 | 410.74 | 412.21 | 409.28 | 2.93 | 1 | 82,984.26 | 64,998.59 | |||||||
| 360 | 0.00 | 412.21 | 410.74 | 1.47 | 0 | 83,395.00 | 65,000.06 | |||||||
Case #1 - Interest Only Loan
Group question...what are the advantages and disadvantages of securing an INTEREST only loan? If interested...here's an additional learning opportunity...feel free to setup an Interest Only Schedule here and then run thru your model...WHAT ARE THE LEVERAGED IRR RESULTS?
FYI only Another JV Structure
| Project Cash Flows | Year | #ERROR! | 2 | 3 | 4 | ||||
| Total Equity | 360,000 | ||||||||
| Sponsor | 5.00% | 18,000 | |||||||
| Investor 2 | 95.00% | 342,000 | |||||||
| Total Equity | 100% | 360,000 | |||||||
| Total Free Cash Flow | (360,000) | 61,000 | 61,000 | 61,000 | 682,000 | ||||
| Net Cash Flow | 865,000 | 61,000 | 61,000 | 61,000 | 682,000 | ||||
| Net Profit | 505,000 | ||||||||
| IRR | 28.85% | ||||||||
| Tier I | |||||||||
| BoP Balance | - 0 | #ERROR! | #ERROR! | #ERROR! | |||||
| Equity Contribution | (360,000) | ||||||||
| Accrual | 10.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Pay down | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||||
| EoP Balance | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||||
| Overflow | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||||
| IRR | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Cash Flows to Each Tier | |||||||||
| 1. Pref Rate | 10.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Sponsor | 5.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Investor | 95.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Tier 1 Overflow | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Residual | 100.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Sponsor | 15.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Investor | 85.00% | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | |||
| Investor Cash Flows | |||||||||
| Sponsor | |||||||||
| Equity Investment(s) | (18,000) | ||||||||
| Distribution(s) | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Total Cash Flow | (18,000) | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Total Profits | #ERROR! | ||||||||
| % of Total Profits | #ERROR! | ||||||||
| IRR | #ERROR! | ||||||||
| Investor | |||||||||
| Equity Investment(s) | (342,000) | ||||||||
| Distribution(s) | #ERROR! | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Total Cash Flow | (342,000) | #ERROR! | #ERROR! | #ERROR! | #ERROR! | ||||
| Total Profits | #ERROR! | ||||||||
| % of Total Profits | #ERROR! | ||||||||
| IRR | #ERROR! | ||||||||
Informational only...JUST ANOTHER EXAMPLE...there are numerous waterfall structures others include Look back IRR's.
After Tx addl learning
| AFTER TAX ANALYSIS | not graded and not part of your case… | |||||||
| CASH FLOW (Pre-Tax Cash Flow) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| NET OPERATING INCOME | $ 62,000 | $ 88,000 | $ 91,000 | $ 40,000 | $ 86,000 | |||
| Less: Tenant Improvements | 10,000 : from Rollover tab | - | - | - | - | |||
| Less: Leasing Commissions | 12,000 : from Rollover tab | - | - | - | - | |||
| Less: Structural Reserves | 600 | 600 | 600 | 600 | 600 | |||
| Sub Total - Capital Expenses | $ 22,600 | $ 600 | $ 600 | $ 600 | $ 600 | |||
| CASH FLOW from OPERATIONS (CFO) | 39,400 | 87,400 | 90,400 | 39,400 | 85,400 | |||
| Less: Debt Service | 35,000 | 35,000 | 35,000 | 35,000 | 35,000 | |||
| CASH FLOW AFTER FINANCING | $ 4,400 | $ 52,400 | $ 55,400 | $ 4,400 | $ 50,400 | |||
| TAX CALCULATION | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| Pre-Tax Cash Flow | $ 62,000 | $ 88,000 | $ 91,000 | $ 40,000 | $ 86,000 | |||
| Add: Reserves | 600 | 600 | 600 | 600 | 600 | |||
| Less: Interest | 29,000 | 29,000 | 29,000 | 29,000 | 29,000 | |||
| Less: Depreciation - Building : Typically it's your purchase price less 15% for land = depreciable basis over 27.5 years |
: from Rollover tab |
: from Rollover tab | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | |
| Less: Depreciation - Tenant Improvements | 4,400 | 4,400 | 4,400 | 4,400 | 4,400 | |||
| TAXABLE INCOME | $ 13,200 | $ 39,200 | $ 42,200 | $ (8,800) | $ 37,200 | |||
| Tax | 28.0% | 3,696 | 10,976 | 11,816 | - | 10,416 | ||
| BEFORE TAX OPERATING CASH FLOW | 4,400 | 52,400 | 55,400 | 4,400 | 50,400 | |||
| Less: Tax | 3,696 | 10,976 | 11,816 | - | 10,416 | |||
| AFTER TAX OPERATING CASH FLOW | $ 704 | $ 41,424 | $ 43,584 | $ 4,400 | $ 39,984 | |||
| TAXABLE INCOME (from Property Sale) | ||||||||
| Original Purchase Price (see Buyers Basic Cash Flow Valu) | $ 700,000 | |||||||
| Add: Capital Expenditures | - 0 | |||||||
| Less: Accumulated Depreciation Building | 80,000 | |||||||
| Less: Accumulated Depreciation TI | 22,000 | |||||||
| NET BOOK VALUE | $ 598,000 | |||||||
| TAX LIABILITY | ||||||||
| Net Sale - Reversion Value in Y. 6 Net of Commissions | $ 800,000 | |||||||
| Net Book Value | 598,000 | |||||||
| TOTAL TAXABLE GAIN ON SALE | $ 202,000 | |||||||
| Tax Rate on Capital Gain | 20.0% | |||||||
| TAX LIABILITY | 40,400 | |||||||
| Net Sale Price - Reversion Yr. 6 Less Commission | $ 800,000 | |||||||
| Less: Outstanding Mortgage Balance at Time of Sale | 400,000 | |||||||
| Less: Tax on Gain | 40,400 | |||||||
| Net Proceeds From Sale | $ 359,600 | |||||||
| TOTAL AFTER TAX INCOME | ||||||||
| from Operations | $ 704 | $ 41,424 | $ 43,584 | $ 4,400 | $ 39,984 | |||
| from Reversion | 359,600 | |||||||
| TOTAL AFTER TAX INCOME | $ 704 | $ 41,424 | $ 43,584 | $ 4,400 | $ 399,584 | |||
| AFTER TAX EQUITY IRR ANALYSIS | 1 | 2 | Year 3 | Year 4 | Year 5 | |||
| Upfront Equity Investment | ($400,000) | $ 704 | $ 41,424 | $ 43,584 | $ 4,400 | $ 399,584 | ||
| Return on Equity (ROE) | 0.18% | 10.36% | 10.90% | 1.10% | NA | |||
| IRR | 4.57% | |||||||
Cash Inflow
Cash Outflow
Cash Inflow
Cash Outflow
An example for discussion purposes only that is NOT graded...view as an additional learning enhancement...try achieving this model for FO...assume depreciation is 80% of your concluded purchase price...land cannot be depreciated...try it...arrive at a leveraged after tax IRR for FO as reported below.
