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90
<br />Duplex (30' Lot)
<br />Residential 2 Units For Rent - New Construction
<br />Residential Unit Rents Rent SF Rent per
<br />SF Units Total Rent Total SF
<br />2 Bedroom, 2 Bathrooms $925 800 $1.16 2 $1,850 1,600
<br />Total Residential 2 $1,850 1,600
<br />Non Rented Space
<br />Porch 50 1 50
<br />Total Non Rented Space 50
<br />Total Monthly Rent $1,850
<br />Total Building Square Feet 1,650
<br />Site Information
<br />Lot Size 3,780
<br />Building Footprint (Ground Floor SF)22%850
<br />Site Area Net of Buildings 2,930
<br />Residential Unit Income Percent of
<br />Income Income
<br />Gross Potential Income (Total Annual Rents)$22,200
<br />Less Vacancy 5%-$1,110
<br />Gross Operating Income $21,090
<br />Operating Expenses 25%-$5,273
<br />Net Operating Income (NOI)$15,818
<br />Residential Unit Cost Percent Cost per SF Cost
<br />Building Hard Cost SF Building $125 $206,250
<br />Site Improvements SF Site $1 $2,930
<br />Connection Fees / Utility Installation Costs $12,468
<br />Total Hard Costs $221,648
<br />Soft Costs 20%$44,330
<br />Land / Acquisition Costs $500
<br />Total Project Costs $266,478
<br />Total Cost Per Residential Unit $133,239
<br />Return on Project Cost 5.9%
<br />Loan Information Term
<br />Years
<br />Interest
<br />Rate
<br />Amort
<br />Years % Down Cost
<br />Down Payment 30%$79,943
<br />Loan Amount $186,534
<br />Loan Assumptions 3 5.0%25
<br />Monthly Debt Service -$1,090
<br />Total Annual Debt Service -$13,086
<br />Cash Flow After Debt Service $2,732
<br />Debt Service Coverage Ratio (DSCR)1.21
<br />Cash on Cash Return (Return on Down Payment)3.4%
<br />Value Per Acre $2,554,229
<br />CONSTRUCTION LOAN
<br />Blue cells are INPUTS
<br />Gray cells are CALCULATED
<br />BUILDING PROGRAM AND RENTS
<br />INCOME
<br />COSTS
<br />Four Plex (50' Lot)
<br />Residential 4 Unit For Rent - New Construction
<br />Residential Unit Rents Rent SF Rent per
<br />SF Units Total Rent Total SF
<br />2 Bedroom, 2 Bathrooms $925 800 $1.16 4 $3,700 3,200
<br />Total Residential 4 $3,700 3,200
<br />Non Rented Space
<br />Porch 50 1 50
<br />Common Area 150 1 150
<br />Total Non Rented Space 200
<br />Total Monthly Rent $3,700
<br />Total Building Square Feet 3,400
<br />Site Information
<br />Lot Size 6,000
<br />Building Footprint (Ground Floor SF)28%1,650
<br />Site Area Net of Buildings 4,350
<br />Residential Unit Income Percent of
<br />Income Income
<br />Gross Potential Income (Total Annual Rents)$44,400
<br />Less Vacancy 5%-$2,220
<br />Gross Operating Income $42,180
<br />Operating Expenses 25%-$10,545
<br />Net Operating Income (NOI)$31,635
<br />Residential Unit Cost Percent Cost per SF Cost
<br />Building Hard Cost SF Building $130 $442,000
<br />Site Improvements SF Site $1 $4,350
<br />Connection Fees / Utility Installation Costs $12,468
<br />Total Hard Costs $458,818
<br />Soft Costs 20%$91,764
<br />Land / Acquisition Costs $500
<br />Total Project Costs $551,082
<br />Total Cost Per Residential Unit $137,770
<br />Return on Project Cost 5.7%
<br />Loan Information Term
<br />Years
<br />Interest
<br />Rate
<br />Amort
<br />Years % Down Cost
<br />Down Payment 32%$176,346
<br />Loan Amount $374,735
<br />Loan Assumptions 3 5.0%25
<br />Monthly Debt Service -$2,191
<br />Total Annual Debt Service -$26,288
<br />Cash Flow After Debt Service $5,347
<br />Debt Service Coverage Ratio (DSCR)1.20
<br />Cash on Cash Return (Return on Down Payment)3.0%
<br />Value Per Acre $3,331,019
<br />CONSTRUCTION LOAN
<br />Blue cells are INPUTS
<br />Gray cells are CALCULATED
<br />BUILDING PROGRAM AND RENTS
<br />INCOME
<br />COSTS
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