Sample Property Apartments 28.

Units Your Your Name

1234 Elm Street, Dallas, Texas 75225 Corporate Your Company

Year 1 - Starting Point Second Year - Stabilized Logo 123 Maple Avenue, Suite 5600
Apart Average Unit Dallas, Texas 75225
Unit S.F. Quant Size current rents Rent Rent Rent 214-555-1212
660 1 1/1 $600 $600 $618 $618 Investment Analysis Summary
800 27 2/1 $725 $19,575 $747 $20,162 ASKING PRICE: $ 1,070,000
Purchase (Offer) Price $ 900,000 CAP Rate
Price per Unit: $ 32,143
Number of Units: 28. Units
Down Payment $180,000 9.37%
Closing/Rehab Costs $10,800 Property Grade
Total Cash Needed $190,800
1st Year ROI
Stablized ROI
15.56%
15.95% C
Monthly Rental Income $20,175 3.00% $20,780 Does This Property Pass the Minimum Criteria?
Total Rentable Square Feet: 23,661 Rent Escalation 2nd Year Performance Ratio Investor Minimums This Property
Average Unit SF: 845 CAP RATE 7.00% 9.37%
Income Year 1 Stabilized GRM 5.00 3.72
Rent (Potential Rental Income) $242,100 $249,363 Net Income ROI -1.00% 2.79%
Utility Reimbursement Cash on Cash ROI 12.00% 15.56%
Miscellaneous $2,201 Total Return on Investment 16.00% 19.78%
Laundry $924 IRR - After Tax - 8 CAP 20.00% 43.35%
minus: Collections, Loss to Lease, Etc. 2% ($4,842) DSCR 1.20 1.54
minus: Vacancy Factor 5% ($12,105) 7% ($17,455) Break-Even Ratio 89.0% 87.0%

Total Effective Gross Income (EGI): $228,278 $231,908 Does This Property Pass the Minimum Criteria? YES
Re-Sale CAP Rate 8.00% Hold in # of Years
Increase /
Expenses % of EGI $/Unit Year 1 Decrease Stabilized Estimated Sale Price $ 1,331,651 5 Years
Property Taxes 10.05% $ 820 $22,950 2.00% $23,409 Loan Information
Franchise Tax 0.71% $ 58 $1,622 $1,654 Down Payment: 20% $180,000
Utilities 26.28% $ 2,143 $60,000 $61,200 Loan Amount: 80% $720,000
Insurance 2.33% $ 190 $5,320 $5,426 Loan Interest Rate: 6.50%
New Loan
On-site Payroll 9.77% $ 797 $22,308 $22,754 Amortization Period 30
Maint./MR Supplies 4.36% $ 355 $9,946 $10,145 Property Information
Admin. / Misc. 2.54% $ 207 $5,796 $5,912 Land Size in Acres: 0.98 Acres
Contract Services 1.95% $ 159 $4,452 $4,541 Land Size in SF: 42,623 SF
Management Fee 5.07% $ 414 $11,584 $11,816 Units/Acre: 28.62 Units per Acre
63.07% Total Expenses: $143,978 IREM $146,857 Leasable Area: 23,661 Square Feet
Expenses per Unit $5,142 $4,228 $5,245 Roofs: Pitched
Expenses per Square Foot $6.09 $5.18 $6.21 Type HVAC: 2-pipe Chiller
Net Operating Income $84,300 $85,050 Metering: Electric: Master
Cap Rate @ $ 900,000 9.37% Gas: Master
Re-sale Value if sold at this CAP Rate & this NOI 7.00% $1,215,002 Water: Master
Misc. Notes about Property
EGI Effective Gross Income $228,278 $231,908 Property Grade C
Expenses Operating Expenses $143,978 $146,857 Area Grade C
NOI Net Operating Income $84,300 $85,050 Actual Current Occupancy 95%
Debt Service Proposed $54,611 $54,611 Neighborhood direction Stable
Cash Flow Net Income $29,689 $30,439 Age of Property 1968
Return on Investment 15.56% 15.95%
See attachments for Budget, Cash Flows, Resale and IRR calculations Buyer's Offer Analysis
Sale Price $ 900,000 Price CAP RATE Note
Down Payment at 20% % down $180,000 $ 1,070,000 7.88% Asking Price
Financing at 6.50% % interest rate - 1st Note $720,000 $ 900,000 9.37% Suggested MAX
Subtotal $900,000 $ 867,900 9.71%
Renovation + Closing Costs $10,800 $ 835,800 10.09%
Total Cost $910,800 $ 803,700 10.49%
$ 771,600 10.93% Suggested Start
Cash Requirement
Offer Price Analysis
Down Payment $180,000
$1,500,000
Est. Closing Costs $10,800 O P Asking Price
Renovation f r
$1,000,000
Total Cash $190,800 Insert Picture(s) Here
f i $500,000
e c
Please see attached Budget, Actual Rent Roll and Financials (if available), Rent Comparables, and Sales Comparables. The above and $-
attached Budget numbers were derived from property actuals, industry and sub-market norms, and over 20 years of multi-family
r e
7.88% 9.37% 9.71% 10.09% 10.49% 10.93%
property management experience. Please read the below Disclaimer.
MAX Offer Price CAP Rates at Different Offer Prices

DISCLAIMER: This analysis is not all inclusive nor do we guarantee any portion. It is to be used as a projection analysis only and is not to be considered fact. A thorough investigation is recommended during the inspection and feasability period. This package has been
prepared for informational purposes only to assist a potential purchaser in determining whether it wishes to proceed with an in depth investigation of the property. The information contained within this investment analysis has been derived from information deemed reliable or
may even be estimated information. However, it is subject to errors, omissions, price change, and/or withdrawal, and no warranty is made as to the accuracy. Further, no warranties or representations shall be made by MBP Capital, Inc. and/or its agents, representatives, or
affiliates regarding oral statements which have been made in the discussion of the above property. This presentation was sent to the recipient under the assumption that he is a buying principal unless otherwise agreed to in writing. Any potential purchaser of this subject

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