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91
<br />Six Unit Cottage Court (133' Lot)
<br />Residential 6 Unit For Rent - New Construction
<br />Residential Unit Rents Rent SF Rent per
<br />SF Units Total Rent Total SF
<br />2 Bedroom Cottage, 1 Story $925 710 $1.30 6 $5,550 4,260
<br />Total Residential 6 $5,550 4,260
<br />Non Rented Space
<br />Porch 50 - -
<br />Total Non Rented Space -
<br />Total Monthly Rent $5,550
<br />Total Building Square Feet 4,260
<br />Site Information
<br />Lot Size 12,600
<br />Building Footprint (Ground Floor SF)30%3,840
<br />Site Area Net of Buildings 8,760
<br />Residential Unit Income Percent of
<br />Income Income
<br />Gross Potential Income (Total Annual Rents)$66,600
<br />Less Vacancy 5%-$3,330
<br />Gross Operating Income $63,270
<br />Operating Expenses 25%-$15,818
<br />Net Operating Income (NOI)$47,453
<br />Residential Unit Cost Percent Cost per SF Cost
<br />Building Hard Cost SF Building $125 $532,500
<br />Site Improvements SF Site $1 $8,760
<br />Connection Fees / Utility Installation Costs $20,028
<br />Total Hard Costs $561,288
<br />Soft Costs 25%$140,322
<br />Land / Acquisition Costs $1,000
<br />Total Project Costs $702,610
<br />Total Cost Per Residential Unit $117,102
<br />Return on Project Cost 6.8%
<br />Loan Information Term
<br />Years
<br />Interest
<br />Rate
<br />Amort
<br />Years % Down Cost
<br />Down Payment 25%$175,653
<br />Loan Amount $526,958
<br />Loan Assumptions 7 5.0%25
<br />Monthly Debt Service -$3,081
<br />Total Annual Debt Service -$36,966
<br />Cash Flow After Debt Service $10,486
<br />Debt Service Coverage Ratio (DSCR)1.28
<br />Cash on Cash Return (Return on Down Payment)6.0%
<br />Value Per Acre $1,940,453
<br />CONSTRUCTION LOAN
<br />Blue cells are INPUTS
<br />Gray cells are CALCULATED
<br />BUILDING PROGRAM AND RENTS
<br />INCOME
<br />COSTS
<br />One Plex (30' Wide Lot)Blue cells are INPUTS
<br />Residential 1 Unit For Sale - New Construction Gray cells are CALCULATED
<br />Per Sq Ft Amount % of Cost
<br />Sales Price $208 $250,000 100%
<br />Hard Costs (125.00)(199,412.00)80%
<br />Soft Costs (16.62)(19,941.00)8%
<br />Land Cost (0.13)(500.00)0%
<br />Construction Interest (0.42)(5,863.00)2%
<br />Marketing/Closing Costs on Sale (12.50)(15,000.00)6%
<br />Overhead/Developer Fee (7.33)(8,794.00)4%
<br />Net Profit $46.34 $490 0.20%
<br />Profit Margin 0.20%
<br />Builder Cash Required $54,963
<br />Builder Cash Required (Net of Overhead)$46,169
<br />Residential Units SF Units Total SF
<br />2 Bedroom / 1 Bath 1,200 1 1,200
<br />3 Bedroom / 2 Bath 1,580 - -
<br />ADU 500 - -
<br />1 1,200
<br />Unfinished Space
<br />Garages (One Car 260, Two Car 520)520 - -
<br />Porch 100 1 100
<br />Basement / Storage 600 1 600
<br />2 700
<br />1,900
<br />Site Utilization
<br />Lot Size 3,900
<br />Building Footprint (Ground Floor SF)43%1,664
<br />Site Area Net of Buildings 2,236
<br />Per Sq Ft Amount
<br />Building Hard Cost $125 $150,000
<br />Unfinished Space $40 $28,000
<br />Site Improvements $4 $8,944
<br />Utility Installation $12,468
<br />$199,412
<br />Soft Costs 10%$19,941.20
<br />Land / Acquisition Costs $500
<br />$219,853
<br />Loan Information Amount
<br />Down Payment 25%$54,963
<br />Loan Amount $164,890
<br />Term Months Interest
<br />Loan Assumptions 12 6.50%
<br />Total Debt Service $5,863
<br />Marketing / Broker Fees (% of Sales Price)5%$12,500
<br />Closing Costs (% of Sales Price)1%$2,500
<br />Total Home Sale Costs $15,000
<br />Total Project Costs $240,716
<br />Overhead / Developer Fee 4%$8,794
<br />Total Developer Fee $8,794
<br />Total Project Costs Plus Fee $249,510
<br />Value Per Acre $2,786,838
<br />SUMMARY
<br />Total Hard + Soft Costs + Land
<br />Total Hard Costs
<br />Total Building Square Feet
<br />Total Unfinished
<br />Total Residential
<br />COSTS FOR SALE OF HOME
<br />DEVELOPER FEE
<br />CONSTRUCTION COSTS
<br />CONSTRUCTION LOAN
<br />BUILDING PROGRAM
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