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Colony Manor

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Submitted By marcellophd
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APT COMPLEX | Colony Manor | | | | | | | | | | | | | | | | ADDRESS | 2520 Beatty Street | | | | | | | | | | | | | | | | CITY,STATE, ZIP | Houston, TX | | | | | | | | | | | | | | | | KEY MAP | | | | | | | | | | | | | | | | | Purchase Price | | $1,900,000 | | | | | | | Rental Grid | | | | | | | Rehab | | $158,562 | | | | | | | TYPE | SQ FT | # | Rent | SF | Mthly | Annual | | TOTAL PURCHASE PRICE | $2,058,562 | | | | | | | Total | 780 | 72 | 678 | 0.87 | 48783 | 585396 | | #/UNITS | | 122 | | | VACANCY RATE | | | 56,192 | Total SqFt | | | | | | | $/UNIT | | $26,389 | | | Actual | 8.50% | | | | | | | | | | | | | | Total Capital Req'd | | Yr1 | 9% | | | | | | | | | | | DOWN PAYMENT | 30.00% | $570,000 | $652,500 | | Yr 2 | 9% | | | Assumptions | | | | LOAN | | $1,488,562 | | | Yr 3 | 9% | | | T-12 thru July 2012 | | | | | | | INTEREST RATE % | | 4.5 | | | Yr 4 | 9% | | | Underwritten Expenses | | | | | | | TERM IN YEARS | | 30 | | | Yr 5 | 9% | | | August 2012 Rent Roll | | | | | | | ANNUAL DEBT SERVICE (P&I) | $90,507.90 | | | | | | | | | | | | | | | | | | | | Capital Improvements | | | Lender Fees | | | ASSUMPTIONS | | Actual | Yr1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | | Siding/Paint | $0 | | Lenders Fees | $8,000 | | Gross Rental Income | | $585,396 | $585,396 | $591,250 | $597,162 | $603,134 | $609,165 | | HVAC replacement | $50,000 | | LMI Capital | | $16,562 | | Vacancy | | $49,759 | $52,686 | $53,212 | $53,745 | $54,282 | $54,825 | | Gates | | $0 | | Total | | $24,562 | | Net Rental Income | | $535,637 | $532,710 | $538,037 | $543,418 | $548,852 | $554,341 | | Trim Trees | $0 | | | | | | Laundry | | $5,500 |

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