Woodcliff Pro Forma by yaofenji

VIEWS: 0 PAGES: 2

									                    Woodcliff Condos Pro Forma 42% Expense Ratio w/current expenses and average rents
Unit Number                                                                      1             50                100
Income                                 Rental Income                        $   693.28 $      34,664.00     $    69,328.00
                                       Water Income                         $     52.00 $      2,600.00     $     5,200.00
                                       Trash Income                         $     18.00 $        900.00     $     1,800.00
                                       Monthly Income                       $   763.28 $      38,164.00     $    76,328.00
                                       Annual Gross Income                  $ 9,159.36 $ 457,968.00         $   915,936.00
Monthly Expenses
                                      Taxes                                 $      40.00    $    2,000.00   $     4,000.00
                                      Insurance                             $      20.00    $    1,000.00   $     2,000.00
                                      HOA                                   $      60.00    $    3,000.00   $     6,000.00
                                      Vacancy (5%)                          $      38.16    $    1,908.20   $     3,816.40
                                      Collection Loss (5%)                  $      34.66    $    1,733.20   $     3,466.40
                                      Management/Payroll/Staff (6%)         $      45.80    $    2,289.84   $     4,579.68
                                      Maintenance Material (3%)             $      22.90    $    1,144.92   $     2,289.84
                                      Marketing/Advertising Expense               $10.90         $545.00         $1,090.00
                                      Utility - Trash                             $22.00        $1,100.00        $2,200.00
                                      Utility - Water                             $28.65        $1,432.50        $2,865.00

Total Monthly Expenses                                                      $      323.07   $    16,153.66 $    32,307.32
Monthly NOI                                                                 $      440.21   $    22,010.34 $    44,020.68
Annual NOI                                                                  $    5,282.48   $ 264,124.08 $ 528,248.16
Monthly Debt Service                  1st Mortgage (80% @ 5.25% 25 yrs)     $      216.00   $    10,800.00 $    21,600.00
Monthly Cashflow after Debt Service                                         $      224.21   $    11,210.34 $    22,420.68
Annual Cashflow after Debt Service                                          $    2,690.48   $ 134,524.08 $ 269,048.16
Purchase Price                                                              $   43,900.00   $ 2,195,000.00 $ 4,390,000.00
Down Payment (20%)                                                          $    8,780.00   $ 439,000.00 $ 878,000.00
Cash on Cash ROI                                                                      31%              31%            31%
Cap Rate                                                           12.03%          12.03%           12.03%         12.03%
                          *Payroll includes 3 employees for 117 units
                                               Hourly         Annual Payroll Monthly Payroll
Mainenance Man                                 $      10.00 $       20,000.00      $1,666.67
Leasing agent                                  $      10.00 $       20,000.00      $1,666.67
Property Manager                               $      12.00 $       24,000.00      $2,000.00
Total Payroll                                  $      32.00 $       64,000.00 $     5,333.33

                         Marketing/Advertising Expense
Actual Marketing Budget                         Monthly Cost Annual Cost
Craigslist                                                $0             $0
Apartment Finder - OR - For Rent Magazine               $595         $7,140
Columbus Dispatch                                       $680         $8,160
Total                                                 $1,275        $15,300
Marketing Expense per unit @ 117 units                $10.90           $131

								
To top