New prospect- 13 unit asking 550k 续 part2

13 unit asking 550k, after a month long counter and couter offer,final accepted price 456k, 56k cash down less tax credit and deposit, 400k owner finance at 7% amortize over 20 years, 5 year balloon.



Gross Income (Year) $77,400.00

Vacancy
Vacancy Rate @ 10% $7,740.00

Operating Expenses
Fixed
Property taxes $7,800.00
Insurance $4,200.00

Variable
Property management
Maintenance $4,200.00
Legal Fees $200.00
Accounting fees $800.00
Advertising $300.00
Administrative expenses $600.00
Utilities $600.00


Total Expenses $26,440.00


Net Operating Income $50,960.00


Mortgage
- First Mortgage 20yr@7% $37,212
- Second Mortgage

Profit or Lost $13,748

Ratios
Debt Coverage Ratio 1.37
Cap Rate 11.75%
Cash on Cash Return 24.55%

所有跟帖： 

• Great deal. Thanks for sharing. -cultuslake- ♂ (61 bytes) () 08/02/2007 postreply 22:21:16

• 回复：New prospect- 13 unit asking 550k 续 part2 -cJng- ♀ (257 bytes) () 08/03/2007 postreply 00:02:28

• Property management=0？ -basicenglish- ♂ (16 bytes) () 08/03/2007 postreply 00:10:06

• this will put me at 91 units, I have 2 full time -jy101- ♂ (51 bytes) () 08/03/2007 postreply 08:12:15

• Cap Rate 11.75%, 幸福啊。 -bayfamily- ♂ (22 bytes) () 08/03/2007 postreply 07:28:38

• additional information - google map -jy101- ♂ (641 bytes) () 08/03/2007 postreply 08:04:35

• 你这个Cap Rate别是怎么算出来的? -温柔虎- ♂ (16 bytes) () 08/03/2007 postreply 08:59:43

• 明白了, -温柔虎- ♂ (44 bytes) () 08/03/2007 postreply 09:10:22

• Good deal, 恭喜！ -芦苇葱葱- ♀ (0 bytes) () 08/03/2007 postreply 09:54:52