Property Information
Projected After Refi Proforma
Sarasota, FL 34232
| Income | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Gross Rent | $41,400 | $42,642 | $43,921 | $45,239 | $46,596 | $47,994 | $49,434 | $50,917 | $52,444 | $54,018 |
| Vacancy Losses | ($3,312) | ($3,411) | ($3,514) | ($3,619) | ($3,728) | ($3,840) | ($3,955) | ($4,073) | ($4,196) | ($4,321) |
| Operating Income | $38,088 | $39,231 | $40,408 | $41,620 | $42,868 | $44,154 | $45,479 | $46,843 | $48,249 | $49,696 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Property Taxes | ($4,292) | ($4,421) | ($4,554) | ($4,690) | ($4,831) | ($4,976) | ($5,125) | ($5,279) | ($5,437) | ($5,600) |
| Insurance | ($1,590) | ($1,637) | ($1,687) | ($1,737) | ($1,789) | ($1,843) | ($1,898) | ($1,955) | ($2,014) | ($2,074) |
| Management Fees | ($3,047) | ($3,138) | ($3,233) | ($3,330) | ($3,429) | ($3,532) | ($3,638) | ($3,747) | ($3,860) | ($3,976) |
| Leasing/Advertising Fees | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Association Fees | ($900) | ($927) | ($955) | ($983) | ($1,013) | ($1,043) | ($1,075) | ($1,107) | ($1,140) | ($1,174) |
| Maintenance | ($828) | ($853) | ($878) | ($905) | ($932) | ($960) | ($989) | ($1,018) | ($1,049) | ($1,080) |
| Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Operating Expenses | ($10,657) | ($10,977) | ($11,306) | ($11,645) | ($11,994) | ($12,354) | ($12,725) | ($13,107) | ($13,500) | ($13,905) |
| Income Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Net Operating Income | $27,431 | $28,254 | $29,102 | $29,975 | $30,874 | $31,800 | $32,754 | $33,737 | $34,749 | $35,791 |
| - Mortgage Payments | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) | ($18,445) |
| = Cash Flow | $8,986 | $9,809 | $10,657 | $11,530 | $12,429 | $13,355 | $14,309 | $15,292 | $16,304 | $17,346 |
| + Principal Reduction | $6,046 | $6,316 | $6,598 | $6,893 | $7,200 | $7,522 | $7,858 | $8,208 | $8,575 | $8,957 |
| + Appreciation | $31,794 | $33,702 | $35,724 | $37,867 | $40,139 | $42,548 | $45,100 | $47,806 | $50,675 | $53,715 |
| = Gross Equity Income | $46,826 | $49,827 | $52,979 | $56,290 | $59,769 | $63,425 | $67,267 | $71,307 | $75,553 | $80,019 |
| Capitalization Rate | 4.9% | 4.7% | 4.6% | 4.5% | 4.4% | 4.2% | 4.1% | 4.0% | 3.9% | 3.8% |
| Cash on Cash Return | 3.5% | 3.9% | 4.2% | 4.5% | 4.9% | 5.3% | 5.6% | 6.0% | 6.4% | 6.8% |
| Return on Equity | 16.6% | 15.5% | 14.6% | 13.8% | 13.1% | 12.5% | 12.0% | 11.6% | 11.2% | 10.9% |
| Loan Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Market Value | $561,694 | $595,396 | $631,119 | $668,987 | $709,126 | $751,673 | $796,774 | $844,580 | $895,255 | $948,970 |
| - Loan Balance | ($280,100) | ($273,783) | ($267,185) | ($260,292) | ($253,092) | ($245,570) | ($237,713) | ($229,504) | ($220,930) | ($211,972) |
| = Equity | $281,594 | $321,612 | $363,934 | $408,694 | $456,034 | $506,103 | $559,061 | $615,076 | $674,325 | $736,998 |
| Loan-to-Value Ratio | 49.9% | 46.0% | 42.3% | 38.9% | 35.7% | 32.7% | 29.8% | 27.2% | 24.7% | 22.3% |
| Potential Cash-Out Refi | $225,425 | $262,073 | $300,822 | $341,795 | $385,121 | $430,936 | $479,384 | $530,618 | $584,800 | $642,101 |
| Sale Analysis | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Year 6 | Year 7 | Year 8 | Year 9 | Year 10 |
|---|
| Equity | $281,594 | $321,612 | $363,934 | $408,694 | $456,034 | $506,103 | $559,061 | $615,076 | $674,325 | $736,998 |
| - Closing Costs | ($39,319) | ($41,678) | ($44,178) | ($46,829) | ($49,639) | ($52,617) | ($55,774) | ($59,121) | ($62,668) | ($66,428) |
| = Proceeds After Sale | $242,276 | $279,935 | $319,756 | $361,865 | $406,395 | $453,486 | $503,287 | $555,955 | $611,657 | $670,570 |
| + Cumulative Cash Flow | $8,986 | $18,795 | $29,452 | $40,982 | $53,410 | $66,766 | $81,075 | $96,367 | $112,671 | $130,017 |
| - Initial Cash Invested | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) | ($254,352) |
| = Net Profit | ($3,090) | $44,378 | $94,856 | $148,495 | $205,453 | $265,900 | $330,010 | $397,970 | $469,976 | $546,235 |
| Internal Rate of Return | -1.2% | 8.5% | 11.5% | 12.7% | 13.3% | 13.5% | 13.6% | 13.6% | 13.5% | 13.4% |
| Return on Investment | -1.2% | 17.4% | 37.3% | 58.4% | 80.8% | 104.5% | 129.7% | 156.5% | 184.8% | 214.8% |
*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.
