FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-255934-01 | ||
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-255934) for the offering to which this communication relates. Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the depositor, BMO Capital Markets Corp., KeyBanc Capital Markets Inc., Deutsche Bank Securities Inc. or any other underwriter or dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-866-864-7760.
The information in this file (the “File”) does not contain all information that is required to be included in the prospectus. This File should be reviewed only in conjunction with the entire prospectus. Prospective investors are advised to read carefully, and should rely on, the prospectus relating to the certificates referred to herein in making their investment decision. The information in this File should not be viewed as projections, forecasts, predictions or opinions with respect to value.
The information in this File is preliminary and may be amended and/or supplemented prior to the time of sale. The information in this File supersedes any contrary information contained in any prior File relating to the certificates and will be superseded by any contrary information contained in any subsequent File prior to the time of sale.
The securities related to this File are being offered when, as and if issued. This free writing prospectus is not an offer to sell or a solicitation of an offer to buy such securities in any state or other jurisdiction where such offer, solicitation or sale is not permitted. Such securities do not represent an interest in or obligation of the depositor, the sponsors, the originators, the master servicer, the special servicers, the trustee, the certificate administrator, the operating advisor, the asset representations reviewer, the controlling class representative, the risk retention consultation parties, the companion loan holders (or their representatives), the underwriters or any of their respective affiliates. Neither such securities nor the underlying mortgage loans are insured or guaranteed by any governmental agency or instrumentality or private insurer.
Any legends, disclaimers or other notices that may appear at the bottom of the email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and that these materials may not be updated or (3) these materials possibly being confidential, are, in each case, not applicable to these materials and should be disregarded. Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.
BMO Capital Markets is a trade name used by BMO Financial Group for the wholesale banking businesses of Bank of Montreal, BMO Harris Bank N.A. (member FDIC), Bank of Montreal Europe p.l.c, and Bank of Montreal (China) Co. Ltd, the institutional broker dealer business of BMO Capital Markets Corp. (Member FINRA and SIPC) and the agency broker dealer business of Clearpool Execution Services, LLC (Member FINRA and SIPC) in the U.S., and the institutional broker dealer businesses of BMO Nesbitt Burns Inc. (Member Investment Industry Regulatory Organization of Canada and Member Canadian Investor Protection Fund) in Canada and Asia, Bank of Montreal Europe p.l.c. (authorized and regulated by the Central Bank of Ireland) in Europe and BMO Capital Markets Limited (authorized and regulated by the Financial Conduct Authority) in the UK and Australia.
FILED AS SUPPLEMENTAL INFORMATION IN CONNECTION WITH THE BMO 2022-C1 MORTGAGE TRUST, COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2022-C1
ALL INFORMATION CONTAINED HEREIN IS SUPERSEDED BY ANY SUBSEQUENT INFORMATION DELIVERED TO ANY PROSPECTIVE INVESTOR PRIOR TO THE TIME OF SALE
AMF II Portfolio | |
Property ID: | Varied |
# Units | 3,299 |
Historical and UW Cash Flow Roll Up
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $26,049,636 | $7,896 | 100.0% | $26,890,466 | $8,151 | 100.0% | $27,498,973 | $8,336 | 100.0% | $27,784,826 | $8,422 | 100.0% | $27,905,616 | $8,459 | 100.0% | $28,231,452 | $8,558 | 100.0% | $27,891,556 | $8,455 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Vacancy | ($3,628,718) | ($1,100) | 13.9% | ($3,171,602) | ($961) | 11.8% | ($2,658,986) | ($806) | 9.7% | ($2,523,480) | ($765) | 9.1% | ($2,487,188) | ($754) | 8.9% | ($1,832,877) | ($556) | 6.5% | ($3,051,569) | ($925) | 10.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $22,420,918 | $6,796 | 86.1% | $23,718,864 | $7,190 | 88.2% | $24,839,987 | $7,530 | 90.3% | $25,261,346 | $7,657 | 90.9% | $25,418,428 | $7,705 | 91.1% | $26,398,575 | $8,002 | 93.5% | $24,839,987 | $7,530 | 89.1% | ||
RUBS / Utility Reimbursements | $1,879,525 | $570 | 7.0% | $2,008,201 | $609 | 7.2% | $2,054,790 | $623 | 7.0% | $2,072,754 | $628 | 6.9% | $2,079,292 | $630 | 6.9% | $2,073,277 | $628 | 6.7% | $2,054,790 | $623 | 7.0% | Based on T12 | |
Other Income | $2,561,681 | $777 | 9.5% | $2,336,474 | $708 | 8.3% | $2,496,424 | $757 | 8.5% | $2,625,756 | $796 | 8.8% | $2,678,272 | $812 | 8.9% | $2,249,836 | $682 | 7.3% | $2,496,424 | $757 | 8.5% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $26,862,124 | $8,143 | 100.0% | $28,063,539 | $8,507 | 100.0% | $29,391,201 | $8,909 | 100.0% | $29,959,856 | $9,081 | 100.0% | $30,175,992 | $9,147 | 100.0% | $30,721,688 | $9,312 | 100.0% | $29,391,201 | $8,909 | 100.0% | ||
Real Estate Taxes | $1,622,513 | $492 | 6.0% | $1,762,604 | $534 | 6.3% | $1,762,596 | $534 | 6.0% | $1,762,596 | $534 | 5.9% | $1,762,596 | $534 | 5.8% | $2,057,230 | $624 | 6.7% | $1,964,756 | $596 | 6.7% | Based on current tax bills | |
Insurance | $890,716 | $270 | 3.3% | $1,219,170 | $370 | 4.3% | $1,262,693 | $383 | 4.3% | $1,262,693 | $383 | 4.2% | $1,262,693 | $383 | 4.2% | $1,262,298 | $383 | 4.1% | $1,209,433 | $367 | 4.1% | Based on current insurance premium statements | |
Management Fee | $805,866 | $244 | 3.0% | $841,908 | $255 | 3.0% | $881,739 | $267 | 3.0% | $898,799 | $272 | 3.0% | $905,283 | $274 | 3.0% | $931,974 | $283 | 3.0% | $881,736 | $267 | 3.0% | Based on 3.0% management fee | |
Utilities | $2,219,210 | $673 | 8.3% | $2,315,800 | $702 | 8.3% | $2,370,269 | $718 | 8.1% | $2,370,269 | $718 | 7.9% | $2,370,269 | $718 | 7.9% | $2,386,655 | $723 | 7.8% | $2,370,269 | $718 | 8.1% | Based on T12 | |
Repairs & Maintenance | $1,613,662 | $489 | 6.0% | $1,524,534 | $462 | 5.4% | $1,597,702 | $484 | 5.4% | $1,597,702 | $484 | 5.3% | $1,597,702 | $484 | 5.3% | $1,673,753 | $507 | 5.4% | $1,597,702 | $484 | 5.4% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $579,325 | $176 | 2.2% | $452,282 | $137 | 1.6% | $472,640 | $143 | 1.6% | $472,640 | $143 | 1.6% | $472,640 | $143 | 1.6% | $510,020 | $155 | 1.7% | $472,640 | $143 | 1.6% | Based on T12 | |
Payroll & Benefits | $3,836,810 | $1,163 | 14.3% | $3,911,606 | $1,186 | 13.9% | $3,989,427 | $1,209 | 13.6% | $3,989,427 | $1,209 | 13.3% | $3,989,427 | $1,209 | 13.2% | $3,787,385 | $1,148 | 12.3% | $3,989,427 | $1,209 | 13.6% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $11,568,102 | $3,507 | 43.1% | $12,027,904 | $3,646 | 42.9% | $12,337,066 | $3,740 | 42.0% | $12,354,126 | $3,745 | 41.2% | $12,360,610 | $3,747 | 41.0% | $12,609,315 | $3,822 | 41.0% | $12,485,963 | $3,785 | 42.5% | ||
Net Operating Income | $15,294,022 | $4,636 | 56.9% | $16,035,635 | $4,861 | 57.1% | $17,054,135 | $5,169 | 58.0% | $17,605,730 | $5,337 | 58.8% | $17,815,382 | $5,400 | 59.0% | $18,112,373 | $5,490 | 59.0% | $16,905,238 | $5,124 | 57.5% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $824,750 | $250 | $989,700 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $15,294,022 | $4,636 | 56.9% | $16,035,635 | $4,861 | 57.1% | $17,054,135 | $5,169 | 58.0% | $17,605,730 | $5,337 | 58.8% | $17,815,382 | $5,400 | 59.0% | $17,287,623 | $5,240 | 56.3% | $15,915,538 | $4,824 | 54.2% |
Cedargate Lancaster | |
Property ID: | 6109 |
# Units | 157 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,170,986 | $7,459 | 100.0% | $1,210,939 | $7,713 | 100.0% | $1,236,529 | $7,876 | 100.0% | $1,247,806 | $7,948 | 100.0% | $1,254,472 | $7,990 | 100.0% | $1,253,058 | $7,981 | 100.0% | $1,253,971 | $7,987 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($81,328) | ($518) | 6.9% | ($77,584) | ($494) | 6.4% | ($80,392) | ($512) | 6.5% | ($73,080) | ($465) | 5.9% | ($99,144) | ($631) | 7.9% | ($64,533) | ($411) | 5.2% | ($97,834) | ($623) | 7.8% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $1,089,658 | $6,940 | 93.1% | $1,133,355 | $7,219 | 93.6% | $1,156,137 | $7,364 | 93.5% | $1,174,726 | $7,482 | 94.1% | $1,155,328 | $7,359 | 92.1% | $1,188,525 | $7,570 | 94.8% | $1,156,137 | $7,364 | 92.2% | ||
RUBS / Utility Reimbursements | $122,177 | $778 | 9.3% | $122,942 | $783 | 9.2% | $125,023 | $796 | 9.1% | $127,488 | $812 | 9.0% | $127,344 | $811 | 9.0% | $131,880 | $840 | 9.2% | $125,023 | $796 | 9.1% | Based on T12 | |
Other Income | $97,627 | $622 | 7.5% | $80,004 | $510 | 6.0% | $93,439 | $595 | 6.8% | $114,556 | $730 | 8.1% | $130,472 | $831 | 9.2% | $111,470 | $710 | 7.8% | $93,439 | $595 | 6.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,309,462 | $8,341 | 100.0% | $1,336,301 | $8,511 | 100.0% | $1,374,599 | $8,755 | 100.0% | $1,416,770 | $9,024 | 100.0% | $1,413,144 | $9,001 | 100.0% | $1,431,875 | $9,120 | 100.0% | $1,374,599 | $8,755 | 100.0% | ||
Real Estate Taxes | $61,000 | $389 | 4.7% | $61,000 | $389 | 4.6% | $60,996 | $389 | 4.4% | $60,996 | $389 | 4.3% | $60,996 | $389 | 4.3% | $72,634 | $463 | 5.1% | $66,859 | $426 | 4.9% | Based on current tax bills | |
Insurance | $51,188 | $326 | 3.9% | $64,219 | $409 | 4.8% | $68,126 | $434 | 5.0% | $68,126 | $434 | 4.8% | $68,126 | $434 | 4.8% | $67,923 | $433 | 4.7% | $49,010 | $312 | 3.6% | Based on current insurance premium statements | |
Management Fee | $39,284 | $250 | 3.0% | $40,089 | $255 | 3.0% | $41,239 | $263 | 3.0% | $42,504 | $271 | 3.0% | $42,395 | $270 | 3.0% | $42,956 | $274 | 3.0% | $41,238 | $263 | 3.0% | Based on 3.0% management fee | |
Utilities | $131,481 | $837 | 10.0% | $116,209 | $740 | 8.7% | $125,923 | $802 | 9.2% | $125,923 | $802 | 8.9% | $125,923 | $802 | 8.9% | $124,815 | $795 | 8.7% | $125,923 | $802 | 9.2% | Based on T12 | |
Repairs & Maintenance | $58,731 | $374 | 4.5% | $57,928 | $369 | 4.3% | $56,286 | $359 | 4.1% | $56,286 | $359 | 4.0% | $56,286 | $359 | 4.0% | $53,380 | $340 | 3.7% | $56,286 | $359 | 4.1% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $23,103 | $147 | 1.8% | $16,059 | $102 | 1.2% | $17,907 | $114 | 1.3% | $17,907 | $114 | 1.3% | $17,907 | $114 | 1.3% | $18,055 | $115 | 1.3% | $17,907 | $114 | 1.3% | Based on T12 | |
Payroll & Benefits | $189,400 | $1,206 | 14.5% | $179,636 | $1,144 | 13.4% | $170,612 | $1,087 | 12.4% | $170,612 | $1,087 | 12.0% | $170,612 | $1,087 | 12.1% | $175,840 | $1,120 | 12.3% | $170,612 | $1,087 | 12.4% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $554,187 | $3,530 | 42.3% | $535,140 | $3,409 | 40.0% | $541,089 | $3,446 | 39.4% | $542,354 | $3,454 | 38.3% | $542,245 | $3,454 | 38.4% | $555,603 | $3,539 | 38.8% | $527,836 | $3,362 | 38.4% | ||
Net Operating Income | $755,275 | $4,811 | 57.7% | $801,161 | $5,103 | 60.0% | $833,510 | $5,309 | 60.6% | $874,416 | $5,570 | 61.7% | $870,899 | $5,547 | 61.6% | $876,272 | $5,581 | 61.2% | $846,763 | $5,393 | 61.6% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $39,250 | $250 | $47,100 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $755,275 | $4,811 | 57.7% | $801,161 | $5,103 | 60.0% | $833,510 | $5,309 | 60.6% | $874,416 | $5,570 | 61.7% | $870,899 | $5,547 | 61.6% | $837,022 | $5,331 | 58.5% | $799,663 | $5,093 | 58.2% |
Cedargate Lancaster
Property ID: 6109
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6109bs1 | Studio | 10 | 2,880 | 288 | 9 | 90.0% | $4,756 | $528 | $1.83 | 1 | $530 | $1.84 | $530 | $5,286 | $529 | $1.84 | $63,432 |
One Bed One Bath Standard | 6109a11 | 1 BR | 35 | 20,160 | 576 | 33 | 94.3% | $21,028 | $637 | $1.11 | 2 | $630 | $1.09 | $1,260 | $22,288 | $637 | $1.11 | $267,457 |
One Bed One Bath Galley Ki | 6109b11 | 1 BR | 57 | 32,832 | 576 | 54 | 94.7% | $33,733 | $625 | $1.08 | 3 | $630 | $1.09 | $1,890 | $35,623 | $625 | $1.08 | $427,470 |
Two Bed One Bath (2,1) | 6109a21 | 2 BR | 53 | 45,792 | 864 | 50 | 94.3% | $37,529 | $751 | $0.87 | 3 | $750 | $0.87 | $2,250 | $39,779 | $751 | $0.87 | $477,348 |
Two Bed Two Bath Master | 6109a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,522 | $761 | $0.88 | 0 | $765 | $0.89 | $0 | $1,522 | $761 | $0.88 | $18,264 |
Totals | 157 | 103,392 | 659 | 148 | 94.3% | $98,568 | $666 | $1.01 | 9 | $666 | $1.01 | $5,930 | $104,498 | $666 | $1.01 | $1,253,971 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 10 | 2,880 | 288 | 9 | 90.0% | $5,286 | $529 | |
1 BR | 92 | 52,992 | 576 | 87 | 94.6% | $57,911 | $629 | |
2 BR | 55 | 47,520 | 864 | 52 | 94.5% | $41,301 | $751 | |
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 157 | 103,392 | 659 | 148 | 94.3% | $104,498 | $666 |
Amesbury | |
Property ID: | 6824 |
# Units | 149 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,106,371 | $7,425 | 100.0% | $1,129,107 | $7,578 | 100.0% | $1,163,130 | $7,806 | 100.0% | $1,184,286 | $7,948 | 100.0% | $1,191,976 | $8,000 | 100.0% | $1,237,968 | $8,309 | 100.0% | $1,167,861 | $7,838 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($204,140) | ($1,370) | 18.5% | ($99,890) | ($670) | 8.8% | ($98,185) | ($659) | 8.4% | ($119,668) | ($803) | 10.1% | ($124,940) | ($839) | 10.5% | ($71,183) | ($478) | 5.7% | ($102,916) | ($691) | 8.8% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $902,231 | $6,055 | 81.5% | $1,029,217 | $6,907 | 91.2% | $1,064,945 | $7,147 | 91.6% | $1,064,618 | $7,145 | 89.9% | $1,067,036 | $7,161 | 89.5% | $1,166,785 | $7,831 | 94.3% | $1,064,945 | $7,147 | 91.2% | ||
RUBS / Utility Reimbursements | $75,501 | $507 | 6.9% | $85,608 | $575 | 7.1% | $87,475 | $587 | 7.1% | $88,128 | $591 | 7.1% | $87,836 | $590 | 6.9% | $88,655 | $595 | 6.6% | $87,475 | $587 | 7.1% | Based on T12 | |
Other Income | $119,268 | $800 | 10.9% | $90,537 | $608 | 7.5% | $86,414 | $580 | 7.0% | $87,582 | $588 | 7.1% | $120,640 | $810 | 9.5% | $85,675 | $575 | 6.4% | $86,414 | $580 | 7.0% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,097,000 | $7,362 | 100.0% | $1,205,362 | $8,090 | 100.0% | $1,238,834 | $8,314 | 100.0% | $1,240,328 | $8,324 | 100.0% | $1,275,512 | $8,560 | 100.0% | $1,341,115 | $9,001 | 100.0% | $1,238,834 | $8,314 | 100.0% | ||
Real Estate Taxes | $92,430 | $620 | 8.4% | $102,000 | $685 | 8.5% | $102,000 | $685 | 8.2% | $102,000 | $685 | 8.2% | $102,000 | $685 | 8.0% | $120,343 | $808 | 9.0% | $112,588 | $756 | 9.1% | Based on current tax bills | |
Insurance | $37,244 | $250 | 3.4% | $51,472 | $345 | 4.3% | $52,976 | $356 | 4.3% | $52,976 | $356 | 4.3% | $52,976 | $356 | 4.2% | $53,000 | $356 | 4.0% | $50,501 | $339 | 4.1% | Based on current insurance premium statements | |
Management Fee | $32,910 | $221 | 3.0% | $36,161 | $243 | 3.0% | $37,164 | $249 | 3.0% | $37,209 | $250 | 3.0% | $38,264 | $257 | 3.0% | $40,233 | $270 | 3.0% | $37,165 | $249 | 3.0% | Based on 3.0% management fee | |
Utilities | $83,274 | $559 | 7.6% | $83,598 | $561 | 6.9% | $78,636 | $528 | 6.3% | $78,636 | $528 | 6.3% | $78,636 | $528 | 6.2% | $84,185 | $565 | 6.3% | $78,636 | $528 | 6.3% | Based on T12 | |
Repairs & Maintenance | $72,487 | $486 | 6.6% | $44,426 | $298 | 3.7% | $48,668 | $327 | 3.9% | $48,668 | $327 | 3.9% | $48,668 | $327 | 3.8% | $48,425 | $325 | 3.6% | $48,668 | $327 | 3.9% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $19,628 | $132 | 1.8% | $16,913 | $114 | 1.4% | $16,733 | $112 | 1.4% | $16,733 | $112 | 1.3% | $16,733 | $112 | 1.3% | $14,900 | $100 | 1.1% | $16,733 | $112 | 1.4% | Based on T12 | |
Payroll & Benefits | $123,095 | $826 | 11.2% | $116,987 | $785 | 9.7% | $100,448 | $674 | 8.1% | $100,448 | $674 | 8.1% | $100,448 | $674 | 7.9% | $107,280 | $720 | 8.0% | $100,448 | $674 | 8.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $461,068 | $3,094 | 42.0% | $451,557 | $3,031 | 37.5% | $436,625 | $2,930 | 35.2% | $436,670 | $2,931 | 35.2% | $437,725 | $2,938 | 34.3% | $468,366 | $3,143 | 34.9% | $444,739 | $2,985 | 35.9% | ||
Net Operating Income | $635,932 | $4,268 | 58.0% | $753,805 | $5,059 | 62.5% | $802,209 | $5,384 | 64.8% | $803,658 | $5,394 | 64.8% | $837,787 | $5,623 | 65.7% | $872,749 | $5,857 | 65.1% | $794,096 | $5,330 | 64.1% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $37,250 | $250 | $44,700 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $635,932 | $4,268 | 58.0% | $753,805 | $5,059 | 62.5% | $802,209 | $5,384 | 64.8% | $803,658 | $5,394 | 64.8% | $837,787 | $5,623 | 65.7% | $835,499 | $5,607 | 62.3% | $749,396 | $5,030 | 60.5% |
Amesbury
Property ID: 6824
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6824bs1 | Studio | 43 | 12,384 | 288 | 40 | 93.0% | $22,695 | $567 | $1.97 | 3 | $585 | $2.03 | $1,755 | $24,450 | $569 | $1.97 | $293,399 |
One Bed One Bath Standard | 6824a11 | 1 BR | 95 | 54,720 | 576 | 89 | 93.7% | $59,595 | $670 | $1.16 | 6 | $730 | $1.27 | $4,380 | $63,975 | $673 | $1.17 | $767,698 |
Two Bed One Bath (2,1) | 6824a21 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,262 | $816 | $0.94 | 0 | $820 | $0.95 | $0 | $3,262 | $816 | $0.94 | $39,144 |
Two Bed Two Bath Master | 6824a22 | 2 BR | 7 | 6,048 | 864 | 6 | 85.7% | $4,830 | $805 | $0.93 | 1 | $805 | $0.93 | $805 | $5,635 | $805 | $0.93 | $67,620 |
Totals | 149 | 76,608 | 514 | 139 | 93.3% | $90,382 | $650 | $1.26 | 10 | $694 | $1.35 | $6,940 | $97,322 | $653 | $1.27 | $1,167,861 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 43 | 12,384 | 288 | 40 | 93.0% | $24,450 | $569 | |
1 BR | 95 | 54,720 | 576 | 89 | 93.7% | $63,975 | $673 | |
2 BR | 11 | 9,504 | 864 | 10 | 90.9% | $8,897 | $809 | |
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 149 | 76,608 | 514 | 139 | 93.3% | $97,322 | $653 |
Plumwood | |
Property ID: | 6297 |
# Units | 143 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,165,872 | $8,153 | 100.0% | $1,197,609 | $8,375 | 100.0% | $1,217,782 | $8,516 | 100.0% | $1,234,674 | $8,634 | 100.0% | $1,230,888 | $8,608 | 100.0% | $1,192,956 | $8,342 | 100.0% | $1,219,399 | $8,527 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($213,964) | ($1,496) | 18.4% | ($243,981) | ($1,706) | 20.4% | ($191,026) | ($1,336) | 15.7% | ($215,158) | ($1,505) | 17.4% | ($187,900) | ($1,314) | 15.3% | ($82,774) | ($579) | 6.9% | ($192,643) | ($1,347) | 15.8% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $951,908 | $6,657 | 81.6% | $953,628 | $6,669 | 79.6% | $1,026,756 | $7,180 | 84.3% | $1,019,516 | $7,129 | 82.6% | $1,042,988 | $7,294 | 84.7% | $1,110,182 | $7,764 | 93.1% | $1,026,756 | $7,180 | 84.2% | ||
RUBS / Utility Reimbursements | $80,626 | $564 | 7.1% | $84,920 | $594 | 7.3% | $90,488 | $633 | 7.2% | $90,928 | $636 | 7.3% | $90,452 | $633 | 7.1% | $89,375 | $625 | 6.9% | $90,488 | $633 | 7.2% | Based on T12 | |
Other Income | $107,449 | $751 | 9.4% | $124,586 | $871 | 10.7% | $133,410 | $933 | 10.7% | $137,856 | $964 | 11.0% | $140,904 | $985 | 11.1% | $97,240 | $680 | 7.5% | $133,410 | $933 | 10.7% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,139,983 | $7,972 | 100.0% | $1,163,134 | $8,134 | 100.0% | $1,250,654 | $8,746 | 100.0% | $1,248,300 | $8,729 | 100.0% | $1,274,344 | $8,911 | 100.0% | $1,296,797 | $9,069 | 100.0% | $1,250,654 | $8,746 | 100.0% | ||
Real Estate Taxes | $87,093 | $609 | 7.6% | $95,004 | $664 | 8.2% | $95,004 | $664 | 7.6% | $95,004 | $664 | 7.6% | $95,004 | $664 | 7.5% | $109,497 | $766 | 8.4% | $108,393 | $758 | 8.7% | Based on current tax bills | |
Insurance | $37,794 | $264 | 3.3% | $52,147 | $365 | 4.5% | $53,983 | $378 | 4.3% | $53,983 | $378 | 4.3% | $53,983 | $378 | 4.2% | $54,163 | $379 | 4.2% | $51,671 | $361 | 4.1% | Based on current insurance premium statements | |
Management Fee | $34,199 | $239 | 3.0% | $34,895 | $244 | 3.0% | $37,520 | $262 | 3.0% | $37,449 | $262 | 3.0% | $38,231 | $267 | 3.0% | $38,904 | $272 | 3.0% | $37,520 | $262 | 3.0% | Based on 3.0% management fee | |
Utilities | $84,430 | $590 | 7.4% | $84,104 | $588 | 7.2% | $86,258 | $603 | 6.9% | $86,258 | $603 | 6.9% | $86,258 | $603 | 6.8% | $82,225 | $575 | 6.3% | $86,258 | $603 | 6.9% | Based on T12 | |
Repairs & Maintenance | $81,596 | $571 | 7.2% | $78,328 | $548 | 6.7% | $78,582 | $550 | 6.3% | $78,582 | $550 | 6.3% | $78,582 | $550 | 6.2% | $71,500 | $500 | 5.5% | $78,582 | $550 | 6.3% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $30,157 | $211 | 2.6% | $20,662 | $144 | 1.8% | $17,923 | $125 | 1.4% | $17,923 | $125 | 1.4% | $17,923 | $125 | 1.4% | $17,875 | $125 | 1.4% | $17,923 | $125 | 1.4% | Based on T12 | |
Payroll & Benefits | $129,146 | $903 | 11.3% | $151,533 | $1,060 | 13.0% | $174,947 | $1,223 | 14.0% | $174,947 | $1,223 | 14.0% | $174,947 | $1,223 | 13.7% | $128,700 | $900 | 9.9% | $174,947 | $1,223 | 14.0% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $484,415 | $3,388 | 42.5% | $516,673 | $3,613 | 44.4% | $544,217 | $3,806 | 43.5% | $544,146 | $3,805 | 43.6% | $544,928 | $3,811 | 42.8% | $502,864 | $3,517 | 38.8% | $555,293 | $3,883 | 44.4% | ||
Net Operating Income | $655,568 | $4,584 | 57.5% | $646,461 | $4,521 | 55.6% | $706,437 | $4,940 | 56.5% | $704,154 | $4,924 | 56.4% | $729,416 | $5,101 | 57.2% | $793,933 | $5,552 | 61.2% | $695,361 | $4,863 | 55.6% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $35,750 | $250 | $42,900 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $655,568 | $4,584 | 57.5% | $646,461 | $4,521 | 55.6% | $706,437 | $4,940 | 56.5% | $704,154 | $4,924 | 56.4% | $729,416 | $5,101 | 57.2% | $758,183 | $5,302 | 58.5% | $652,461 | $4,563 | 52.2% |
Plumwood
Property ID: 6297
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6297as1 | Studio | 24 | 6,912 | 288 | 23 | 95.8% | $14,261 | $620 | $2.15 | 1 | $600 | $2.08 | $600 | $14,861 | $619 | $2.15 | $178,332 |
One Bed One Bath Standard | 6297a11 | 1 BR | 23 | 13,248 | 576 | 22 | 95.7% | $15,900 | $723 | $1.25 | 1 | $750 | $1.30 | $750 | $16,650 | $724 | $1.26 | $199,804 |
One Bed One Bath Galley Ki | 6297b11 | 1 BR | 77 | 44,352 | 576 | 68 | 88.3% | $47,222 | $694 | $1.21 | 9 | $750 | $1.30 | $6,750 | $53,972 | $701 | $1.22 | $647,660 |
Two Bed One Bath (2,1) | 6297a21 | 2 BR | 17 | 14,688 | 864 | 16 | 94.1% | $13,523 | $845 | $0.98 | 1 | $850 | $0.98 | $850 | $14,373 | $845 | $0.98 | $172,471 |
Two Bed Two Bath Master (2) | 6297a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,761 | $881 | $1.02 | 0 | $900 | $1.04 | $0 | $1,761 | $881 | $1.02 | $21,132 |
Totals | 143 | 80,928 | 566 | 131 | 91.6% | $92,667 | $707 | $1.25 | 12 | $739 | $1.31 | $8,950 | $101,617 | $711 | $1.26 | $1,219,399 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 24 | 6,912 | 288 | 23 | 95.8% | $14,861 | $619 | |
1 BR | 100 | 57,600 | 576 | 90 | 90.0% | $70,622 | $706 | |
2 BR | 19 | 16,416 | 864 | 18 | 94.7% | $16,134 | $849 | |
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 143 | 80,928 | 566 | 131 | 91.6% | $101,617 | $711 |
Red Deer | |
Property ID: | 6847 |
# Units | 131 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,014,680 | $7,746 | 100.0% | $1,048,529 | $8,004 | 100.0% | $1,069,032 | $8,161 | 100.0% | $1,079,182 | $8,238 | 100.0% | $1,087,208 | $8,299 | 100.0% | $1,094,508 | $8,355 | 100.0% | $1,086,509 | $8,294 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($137,969) | ($1,053) | 13.6% | ($104,077) | ($794) | 9.9% | ($82,803) | ($632) | 7.7% | ($70,704) | ($540) | 6.6% | ($52,412) | ($400) | 4.8% | ($72,785) | ($556) | 6.7% | ($100,280) | ($765) | 9.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $876,711 | $6,692 | 86.4% | $944,452 | $7,210 | 90.1% | $986,229 | $7,528 | 92.3% | $1,008,478 | $7,698 | 93.4% | $1,034,796 | $7,899 | 95.2% | $1,021,723 | $7,799 | 93.3% | $986,229 | $7,528 | 90.8% | ||
RUBS / Utility Reimbursements | $77,718 | $593 | 7.3% | $85,758 | $655 | 7.4% | $86,718 | $662 | 7.2% | $86,936 | $664 | 7.0% | $87,724 | $670 | 7.0% | $88,425 | $675 | 7.2% | $86,718 | $662 | 7.2% | Based on T12 | |
Other Income | $116,513 | $889 | 10.9% | $125,427 | $957 | 10.9% | $131,835 | $1,006 | 10.9% | $139,576 | $1,065 | 11.3% | $133,516 | $1,019 | 10.6% | $116,590 | $890 | 9.5% | $131,835 | $1,006 | 10.9% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,070,942 | $8,175 | 100.0% | $1,155,637 | $8,822 | 100.0% | $1,204,782 | $9,197 | 100.0% | $1,234,990 | $9,427 | 100.0% | $1,256,036 | $9,588 | 100.0% | $1,226,738 | $9,364 | 100.0% | $1,204,782 | $9,197 | 100.0% | ||
Real Estate Taxes | $64,131 | $490 | 6.0% | $63,000 | $481 | 5.5% | $63,000 | $481 | 5.2% | $63,000 | $481 | 5.1% | $63,000 | $481 | 5.0% | $72,430 | $553 | 5.9% | $67,922 | $518 | 5.6% | Based on current tax bills | |
Insurance | $33,616 | $257 | 3.1% | $46,421 | $354 | 4.0% | $47,829 | $365 | 4.0% | $47,829 | $365 | 3.9% | $47,829 | $365 | 3.8% | $47,650 | $364 | 3.9% | $45,671 | $349 | 3.8% | Based on current insurance premium statements | |
Management Fee | $32,128 | $245 | 3.0% | $34,669 | $265 | 3.0% | $36,143 | $276 | 3.0% | $37,049 | $283 | 3.0% | $37,681 | $288 | 3.0% | $36,802 | $281 | 3.0% | $36,143 | $276 | 3.0% | Based on 3.0% management fee | |
Utilities | $64,135 | $490 | 6.0% | $60,689 | $463 | 5.3% | $65,908 | $503 | 5.5% | $65,908 | $503 | 5.3% | $65,908 | $503 | 5.2% | $67,465 | $515 | 5.5% | $65,908 | $503 | 5.5% | Based on T12 | |
Repairs & Maintenance | $57,804 | $441 | 5.4% | $47,306 | $361 | 4.1% | $51,878 | $396 | 4.3% | $51,878 | $396 | 4.2% | $51,878 | $396 | 4.1% | $59,605 | $455 | 4.9% | $51,878 | $396 | 4.3% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $20,711 | $158 | 1.9% | $17,064 | $130 | 1.5% | $19,188 | $146 | 1.6% | $19,188 | $146 | 1.6% | $19,188 | $146 | 1.5% | $19,650 | $150 | 1.6% | $19,188 | $146 | 1.6% | Based on T12 | |
Payroll & Benefits | $156,478 | $1,194 | 14.6% | $157,316 | $1,201 | 13.6% | $161,999 | $1,237 | 13.4% | $161,999 | $1,237 | 13.1% | $161,999 | $1,237 | 12.9% | $160,475 | $1,225 | 13.1% | $161,999 | $1,237 | 13.4% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $429,003 | $3,275 | 40.1% | $426,465 | $3,255 | 36.9% | $445,945 | $3,404 | 37.0% | $446,851 | $3,411 | 36.2% | $447,483 | $3,416 | 35.6% | $464,077 | $3,543 | 37.8% | $448,710 | $3,425 | 37.2% | ||
Net Operating Income | $641,939 | $4,900 | 59.9% | $729,172 | $5,566 | 63.1% | $758,837 | $5,793 | 63.0% | $788,139 | $6,016 | 63.8% | $808,553 | $6,172 | 64.4% | $762,661 | $5,822 | 62.2% | $756,072 | $5,772 | 62.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,750 | $250 | $39,300 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $641,939 | $4,900 | 59.9% | $729,172 | $5,566 | 63.1% | $758,837 | $5,793 | 63.0% | $788,139 | $6,016 | 63.8% | $808,553 | $6,172 | 64.4% | $729,911 | $5,572 | 59.5% | $716,772 | $5,472 | 59.5% |
Red Deer
Property ID: 6847
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6847as1 | Studio | 31 | 8,928 | 288 | 27 | 87.1% | $15,574 | $577 | $2.00 | 4 | $585 | $2.03 | $2,340 | $17,914 | $578 | $2.01 | $214,968 |
One Bed One Bath Standard | 6847a11 | 1 BR | 92 | 52,992 | 576 | 90 | 97.8% | $63,709 | $708 | $1.23 | 2 | $715 | $1.24 | $1,430 | $65,139 | $708 | $1.23 | $781,673 |
Two Bed One Bath (2,1) | 6847a21 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,652 | $913 | $1.06 | 0 | $915 | $1.06 | $0 | $3,652 | $913 | $1.06 | $43,824 |
Two Bed Two Bath Master | 6847a22 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,837 | $959 | $1.11 | 0 | $960 | $1.11 | $0 | $3,837 | $959 | $1.11 | $46,044 |
Totals | 131 | 68,832 | 525 | 125 | 95.4% | $86,772 | $694 | $1.32 | 6 | $698 | $1.33 | $3,770 | $90,542 | $691 | $1.32 | $1,086,509 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 31 | 8,928 | 288 | 27 | 87.1% | $17,914 | $578 | |
1 BR | 92 | 52,992 | 576 | 90 | 97.8% | $65,139 | $708 | |
2 BR | 8 | 6,912 | 864 | 8 | 100.0% | $7,489 | $936 | |
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 131 | 68,832 | 525 | 125 | 95.4% | $90,542 | $691 |
Cedargate | |
Property ID: | 6647 |
# Units | 130 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $976,659 | $7,513 | 100.0% | $1,008,910 | $7,761 | 100.0% | $1,029,236 | $7,917 | 100.0% | $1,039,698 | $7,998 | 100.0% | $1,046,340 | $8,049 | 100.0% | $1,053,420 | $8,103 | 100.0% | $1,050,668 | $8,082 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($112,788) | ($868) | 11.5% | ($67,027) | ($516) | 6.6% | ($45,715) | ($352) | 4.4% | ($54,836) | ($422) | 5.3% | ($51,624) | ($397) | 4.9% | ($54,251) | ($417) | 5.1% | ($67,147) | ($517) | 6.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $863,871 | $6,645 | 88.5% | $941,883 | $7,245 | 93.4% | $983,521 | $7,566 | 95.6% | $984,862 | $7,576 | 94.7% | $994,716 | $7,652 | 95.1% | $999,169 | $7,686 | 94.9% | $983,521 | $7,566 | 93.6% | ||
RUBS / Utility Reimbursements | $71,957 | $554 | 7.0% | $78,044 | $600 | 7.0% | $80,707 | $621 | 7.0% | $81,408 | $626 | 7.0% | $81,996 | $631 | 6.9% | $82,550 | $635 | 7.0% | $80,707 | $621 | 7.0% | Based on T12 | |
Other Income | $93,256 | $717 | 9.1% | $91,267 | $702 | 8.2% | $91,094 | $701 | 7.9% | $95,206 | $732 | 8.2% | $111,772 | $860 | 9.4% | $91,000 | $700 | 7.8% | $91,094 | $701 | 7.9% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,029,084 | $7,916 | 100.0% | $1,111,194 | $8,548 | 100.0% | $1,155,322 | $8,887 | 100.0% | $1,161,476 | $8,934 | 100.0% | $1,188,484 | $9,142 | 100.0% | $1,172,719 | $9,021 | 100.0% | $1,155,322 | $8,887 | 100.0% | ||
Real Estate Taxes | $91,402 | $703 | 8.9% | $95,000 | $731 | 8.5% | $95,004 | $731 | 8.2% | $95,004 | $731 | 8.2% | $95,004 | $731 | 8.0% | $100,361 | $772 | 8.6% | $95,709 | $736 | 8.3% | Based on current tax bills | |
Insurance | $34,294 | $264 | 3.3% | $47,155 | $363 | 4.2% | $48,643 | $374 | 4.2% | $48,643 | $374 | 4.2% | $48,643 | $374 | 4.1% | $48,450 | $373 | 4.1% | $62,603 | $482 | 5.4% | Based on current insurance premium statements | |
Management Fee | $30,873 | $237 | 3.0% | $33,336 | $256 | 3.0% | $34,661 | $267 | 3.0% | $34,846 | $268 | 3.0% | $35,656 | $274 | 3.0% | $35,182 | $271 | 3.0% | $34,660 | $267 | 3.0% | Based on 3.0% management fee | |
Utilities | $58,515 | $450 | 5.7% | $59,905 | $461 | 5.4% | $62,686 | $482 | 5.4% | $62,686 | $482 | 5.4% | $62,686 | $482 | 5.3% | $63,050 | $485 | 5.4% | $62,686 | $482 | 5.4% | Based on T12 | |
Repairs & Maintenance | $55,721 | $429 | 5.4% | $55,386 | $426 | 5.0% | $64,230 | $494 | 5.6% | $64,230 | $494 | 5.5% | $64,230 | $494 | 5.4% | $63,050 | $485 | 5.4% | $64,230 | $494 | 5.6% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $21,728 | $167 | 2.1% | $15,295 | $118 | 1.4% | $14,356 | $110 | 1.2% | $14,356 | $110 | 1.2% | $14,356 | $110 | 1.2% | $14,950 | $115 | 1.3% | $14,356 | $110 | 1.2% | Based on T12 | |
Payroll & Benefits | $183,492 | $1,411 | 17.8% | $182,685 | $1,405 | 16.4% | $188,787 | $1,452 | 16.3% | $188,787 | $1,452 | 16.3% | $188,787 | $1,452 | 15.9% | $171,600 | $1,320 | 14.6% | $188,787 | $1,452 | 16.3% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $476,025 | $3,662 | 46.3% | $488,762 | $3,760 | 44.0% | $508,367 | $3,911 | 44.0% | $508,552 | $3,912 | 43.8% | $509,362 | $3,918 | 42.9% | $496,643 | $3,820 | 42.3% | $523,031 | $4,023 | 45.3% | ||
Net Operating Income | $553,059 | $4,254 | 53.7% | $622,432 | $4,788 | 56.0% | $646,955 | $4,977 | 56.0% | $652,924 | $5,022 | 56.2% | $679,122 | $5,224 | 57.1% | $676,076 | $5,201 | 57.7% | $632,291 | $4,864 | 54.7% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,500 | $250 | $39,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $553,059 | $4,254 | 53.7% | $622,432 | $4,788 | 56.0% | $646,955 | $4,977 | 56.0% | $652,924 | $5,022 | 56.2% | $679,122 | $5,224 | 57.1% | $643,576 | $4,951 | 54.9% | $593,291 | $4,564 | 51.4% |
Cedargate
Property ID: 6647
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6647bs1 | Studio | 27 | 7,776 | 288 | 26 | 96.3% | $14,223 | $547 | $1.90 | 1 | $550 | $1.91 | $550 | $14,773 | $547 | $1.90 | $177,276 |
One Bed One Bath Standard | 6647a11 | 1 BR | 86 | 49,536 | 576 | 82 | 95.3% | $55,607 | $678 | $1.18 | 4 | $685 | $1.19 | $2,740 | $58,347 | $678 | $1.18 | $700,160 |
Two Bed One Bath (2,1) | 6641a21 | 2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $7,562 | $840 | $0.97 | 1 | $840 | $0.97 | $840 | $8,402 | $840 | $0.97 | $100,824 |
Two Bed Two Bath Master | 6647a22 | 2 BR | 6 | 5,184 | 864 | 5 | 83.3% | $4,230 | $846 | $0.98 | 1 | $850 | $0.98 | $850 | $5,080 | $847 | $0.98 | $60,960 |
Three Bed Two Bath Master | 6647a32 | 3 BR | 1 | 864 | 864 | 1 | 100.0% | $954 | $954 | $1.10 | 0 | $955 | $1.11 | $0 | $954 | $954 | $1.10 | $11,448 |
Totals | 130 | 72,000 | 554 | 123 | 94.6% | $82,576 | $671 | $1.21 | 7 | $679 | $1.23 | $4,980 | $87,556 | $674 | $1.22 | $1,050,668 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 27 | 7,776 | 288 | 26 | 96.3% | $14,773 | $547 | |
1 BR | 86 | 49,536 | 576 | 82 | 95.3% | $58,347 | $678 | |
2 BR | 16 | 13,824 | 864 | 14 | 87.5% | $13,482 | $843 | |
3 BR | 1 | 864 | 864 | 1 | 100.0% | $954 | $954 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 130 | 72,000 | 554 | 123 | 94.6% | $87,556 | $674 |
Millburn Court | |||||||||||||||||||||||
Property ID: | 6402 | ||||||||||||||||||||||
# Units | 115 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $884,444 | $7,691 | 100.0% | $917,668 | $7,980 | 100.0% | $938,192 | $8,158 | 100.0% | $944,540 | $8,213 | 100.0% | $950,104 | $8,262 | 100.0% | $954,912 | $8,304 | 100.0% | $956,365 | $8,316 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($116,773) | ($1,015) | 13.2% | ($60,194) | ($523) | 6.6% | ($48,744) | ($424) | 5.2% | ($36,096) | ($314) | 3.8% | ($31,220) | ($271) | 3.3% | ($66,472) | ($578) | 7.0% | ($66,917) | ($582) | 7.0% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $767,671 | $6,675 | 86.8% | $857,474 | $7,456 | 93.4% | $889,448 | $7,734 | 94.8% | $908,444 | $7,900 | 96.2% | $918,884 | $7,990 | 96.7% | $888,440 | $7,726 | 93.0% | $889,448 | $7,734 | 93.0% | ||
RUBS / Utility Reimbursements | $68,322 | $594 | 7.4% | $77,194 | $671 | 7.6% | $79,420 | $691 | 7.6% | $81,586 | $709 | 7.7% | $81,788 | $711 | 7.7% | $80,500 | $700 | 7.7% | $79,420 | $691 | 7.6% | Based on T12 | |
Other Income | $86,962 | $756 | 9.4% | $78,156 | $680 | 7.7% | $76,302 | $663 | 7.3% | $70,548 | $613 | 6.7% | $56,176 | $488 | 5.3% | $72,450 | $630 | 7.0% | $76,302 | $663 | 7.3% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $922,955 | $8,026 | 100.0% | $1,012,824 | $8,807 | 100.0% | $1,045,170 | $9,088 | 100.0% | $1,060,578 | $9,222 | 100.0% | $1,056,848 | $9,190 | 100.0% | $1,041,390 | $9,056 | 100.0% | $1,045,170 | $9,088 | 100.0% | ||
Real Estate Taxes | $91,000 | $791 | 9.9% | $91,000 | $791 | 9.0% | $90,996 | $791 | 8.7% | $90,996 | $791 | 8.6% | $90,996 | $791 | 8.6% | $97,747 | $850 | 9.4% | $107,946 | $939 | 10.3% | Based on current tax bills | |
Insurance | $30,784 | $268 | 3.3% | $42,396 | $369 | 4.2% | $43,941 | $382 | 4.2% | $43,941 | $382 | 4.1% | $43,941 | $382 | 4.2% | $43,482 | $378 | 4.2% | $42,094 | $366 | 4.0% | Based on current insurance premium statements | |
Management Fee | $27,689 | $241 | 3.0% | $30,385 | $264 | 3.0% | $31,356 | $273 | 3.0% | $31,818 | $277 | 3.0% | $31,706 | $276 | 3.0% | $31,242 | $272 | 3.0% | $31,355 | $273 | 3.0% | Based on 3.0% management fee | |
Utilities | $60,205 | $524 | 6.5% | $58,884 | $512 | 5.8% | $56,939 | $495 | 5.4% | $56,939 | $495 | 5.4% | $56,939 | $495 | 5.4% | $54,625 | $475 | 5.2% | $56,939 | $495 | 5.4% | Based on T12 | |
Repairs & Maintenance | $50,688 | $441 | 5.5% | $46,422 | $404 | 4.6% | $52,782 | $459 | 5.1% | $52,782 | $459 | 5.0% | $52,782 | $459 | 5.0% | $54,625 | $475 | 5.2% | $52,782 | $459 | 5.1% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $17,382 | $151 | 1.9% | $14,354 | $125 | 1.4% | $14,180 | $123 | 1.4% | $14,180 | $123 | 1.3% | $14,180 | $123 | 1.3% | $14,375 | $125 | 1.4% | $14,180 | $123 | 1.4% | Based on T12 | |
Payroll & Benefits | $135,428 | $1,178 | 14.7% | $178,184 | $1,549 | 17.6% | $170,658 | $1,484 | 16.3% | $170,658 | $1,484 | 16.1% | $170,658 | $1,484 | 16.1% | $109,250 | $950 | 10.5% | $170,658 | $1,484 | 16.3% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $413,176 | $3,593 | 44.8% | $461,625 | $4,014 | 45.6% | $460,852 | $4,007 | 44.1% | $461,314 | $4,011 | 43.5% | $461,202 | $4,010 | 43.6% | $405,346 | $3,525 | 38.9% | $475,954 | $4,139 | 45.5% | ||
Net Operating Income | $509,779 | $4,433 | 55.2% | $551,199 | $4,793 | 54.4% | $584,318 | $5,081 | 55.9% | $599,264 | $5,211 | 56.5% | $595,646 | $5,180 | 56.4% | $636,044 | $5,531 | 61.1% | $569,216 | $4,950 | 54.5% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $28,750 | $250 | $34,500 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $509,779 | $4,433 | 55.2% | $551,199 | $4,793 | 54.4% | $584,318 | $5,081 | 55.9% | $599,264 | $5,211 | 56.5% | $595,646 | $5,180 | 56.4% | $607,294 | $5,281 | 58.3% | $534,716 | $4,650 | 51.2% |
Millburn Court | ||||||||||||||||||
Property ID: 6402 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6402bs1 | Studio | 3 | 864 | 288 | 3 | 100.0% | $1,705 | $568 | $1.97 | 0 | $625 | $2.17 | $0 | $1,705 | $568 | $1.97 | $20,460 |
Studio Standard (0,1) | 6402as1 | Studio | 16 | 4,608 | 288 | 16 | 100.0% | $9,153 | $572 | $1.99 | 0 | $625 | $2.17 | $0 | $9,153 | $572 | $1.99 | $109,830 |
One Bed One Bath Standard | 6402a11 | 1 BR | 34 | 19,584 | 576 | 34 | 100.0% | $23,853 | $702 | $1.22 | 0 | $750 | $1.30 | $0 | $23,853 | $702 | $1.22 | $286,232 |
One Bed One Bath Galley Ki | 6402b11 | 1 BR | 44 | 25,344 | 576 | 44 | 100.0% | $29,898 | $679 | $1.18 | 0 | $750 | $1.30 | $0 | $29,898 | $679 | $1.18 | $358,772 |
Two Bed One Bath (2,1) | 6402a21 | 2 BR | 17 | 14,688 | 864 | 17 | 100.0% | $14,173 | $834 | $0.96 | 0 | $900 | $1.04 | $0 | $14,173 | $834 | $0.96 | $170,079 |
Three Bed One Bath (3,1) | 6402a31 | 3 BR | 1 | 1,152 | 1152 | 1 | 100.0% | $916 | $916 | $0.80 | 0 | $1,050 | $0.91 | $0 | $916 | $916 | $0.80 | $10,992 |
Totals | 115 | 66,240 | 576 | 115 | 100.0% | $79,697 | $693 | $1.20 | 0 | $754 | $1.31 | $0 | $79,697 | $693 | $1.20 | $956,365 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 19 | 5,472 | 288 | 19 | 100.0% | $10,858 | $571 | |||||||||||
1 BR | 78 | 44,928 | 576 | 78 | 100.0% | $53,750 | $689 | |||||||||||
2 BR | 17 | 14,688 | 864 | 17 | 100.0% | $14,173 | $834 | |||||||||||
3 BR | 1 | 1,152 | 1,152 | 1 | 100.0% | $916 | $916 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 115 | 66,240 | 576 | 115 | 100.0% | $79,697 | $693 |
Camelia Court | |||||||||||||||||||||||
Property ID: | 6505 | ||||||||||||||||||||||
# Units | 110 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $863,581 | $7,851 | 100.0% | $899,582 | $8,178 | 100.0% | $905,882 | $8,235 | 100.0% | $918,064 | $8,346 | 100.0% | $912,760 | $8,298 | 100.0% | $918,984 | $8,354 | 100.0% | $915,708 | $8,325 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($129,874) | ($1,181) | 15.0% | ($124,450) | ($1,131) | 13.8% | ($57,330) | ($521) | 6.3% | ($55,488) | ($504) | 6.0% | ($57,480) | ($523) | 6.3% | ($63,554) | ($578) | 6.9% | ($67,156) | ($611) | 7.3% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $733,707 | $6,670 | 85.0% | $775,132 | $7,047 | 86.2% | $848,552 | $7,714 | 93.7% | $862,576 | $7,842 | 94.0% | $855,280 | $7,775 | 93.7% | $855,430 | $7,777 | 93.1% | $848,552 | $7,714 | 92.7% | ||
RUBS / Utility Reimbursements | $59,109 | $537 | 6.7% | $64,160 | $583 | 7.0% | $67,727 | $616 | 6.8% | $69,572 | $632 | 6.8% | $69,004 | $627 | 6.8% | $68,750 | $625 | 6.9% | $67,727 | $616 | 6.8% | Based on T12 | |
Other Income | $83,267 | $757 | 9.5% | $73,576 | $669 | 8.1% | $78,978 | $718 | 7.9% | $84,800 | $771 | 8.3% | $93,440 | $849 | 9.2% | $71,500 | $650 | 7.2% | $78,978 | $718 | 7.9% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $876,083 | $7,964 | 100.0% | $912,868 | $8,299 | 100.0% | $995,257 | $9,048 | 100.0% | $1,016,948 | $9,245 | 100.0% | $1,017,724 | $9,252 | 100.0% | $995,680 | $9,052 | 100.0% | $995,257 | $9,048 | 100.0% | ||
Real Estate Taxes | $72,983 | $663 | 8.3% | $71,000 | $645 | 7.8% | $71,004 | $645 | 7.1% | $71,004 | $645 | 7.0% | $71,004 | $645 | 7.0% | $72,125 | $656 | 7.2% | $70,859 | $644 | 7.1% | Based on current tax bills | |
Insurance | $29,511 | $268 | 3.4% | $40,539 | $369 | 4.4% | $41,912 | $381 | 4.2% | $41,912 | $381 | 4.1% | $41,912 | $381 | 4.1% | $40,762 | $371 | 4.1% | $40,170 | $365 | 4.0% | Based on current insurance premium statements | |
Management Fee | $26,283 | $239 | 3.0% | $27,386 | $249 | 3.0% | $29,857 | $271 | 3.0% | $30,508 | $277 | 3.0% | $30,531 | $278 | 3.0% | $29,870 | $272 | 3.0% | $29,858 | $271 | 3.0% | Based on 3.0% management fee | |
Utilities | $40,398 | $367 | 4.6% | $45,076 | $410 | 4.9% | $43,587 | $396 | 4.4% | $43,587 | $396 | 4.3% | $43,587 | $396 | 4.3% | $55,000 | $500 | 5.5% | $43,587 | $396 | 4.4% | Based on T12 | |
Repairs & Maintenance | $38,863 | $353 | 4.4% | $39,782 | $362 | 4.4% | $41,654 | $379 | 4.2% | $41,654 | $379 | 4.1% | $41,654 | $379 | 4.1% | $46,750 | $425 | 4.7% | $41,654 | $379 | 4.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $21,241 | $193 | 2.4% | $15,090 | $137 | 1.7% | $14,170 | $129 | 1.4% | $14,170 | $129 | 1.4% | $14,170 | $129 | 1.4% | $13,750 | $125 | 1.4% | $14,170 | $129 | 1.4% | Based on T12 | |
Payroll & Benefits | $98,326 | $894 | 11.2% | $100,326 | $912 | 11.0% | $90,906 | $826 | 9.1% | $90,906 | $826 | 8.9% | $90,906 | $826 | 8.9% | $93,500 | $850 | 9.4% | $90,906 | $826 | 9.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $327,605 | $2,978 | 37.4% | $339,199 | $3,084 | 37.2% | $333,090 | $3,028 | 33.5% | $333,741 | $3,034 | 32.8% | $333,764 | $3,034 | 32.8% | $351,757 | $3,198 | 35.3% | $331,204 | $3,011 | 33.3% | ||
Net Operating Income | $548,478 | $4,986 | 62.6% | $573,669 | $5,215 | 62.8% | $662,167 | $6,020 | 66.5% | $683,207 | $6,211 | 67.2% | $683,960 | $6,218 | 67.2% | $643,923 | $5,854 | 64.7% | $664,053 | $6,037 | 66.7% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $27,500 | $250 | $33,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $548,478 | $4,986 | 62.6% | $573,669 | $5,215 | 62.8% | $662,167 | $6,020 | 66.5% | $683,207 | $6,211 | 67.2% | $683,960 | $6,218 | 67.2% | $616,423 | $5,604 | 61.9% | $631,053 | $5,737 | 63.4% |
Camelia Court | ||||||||||||||||||
Property ID: 6505 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6505as1 | Studio | 18 | 5,184 | 288 | 17 | 94.4% | $9,498 | $559 | $1.94 | 1 | $550 | $1.91 | $550 | $10,048 | $558 | $1.94 | $120,576 |
One Bed One Bath Standard | 6505a11 | 1 BR | 75 | 43,200 | 576 | 71 | 94.7% | $48,959 | $690 | $1.20 | 4 | $800 | $1.39 | $3,200 | $52,159 | $695 | $1.21 | $625,908 |
Two Bed One Bath (2,1) | 6505a21 | 2 BR | 13 | 11,232 | 864 | 13 | 100.0% | $10,780 | $829 | $0.96 | 0 | $900 | $1.04 | $0 | $10,780 | $829 | $0.96 | $129,360 |
Two Bed Two Bath Galley Ki | 6505b22 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,322 | $831 | $0.96 | 0 | $900 | $1.04 | $0 | $3,322 | $831 | $0.96 | $39,864 |
Totals | 110 | 63,072 | 573 | 105 | 95.5% | $72,559 | $691 | $1.21 | 5 | $775 | $1.35 | $3,750 | $76,309 | $694 | $1.21 | $915,708 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 18 | 5,184 | 288 | 17 | 94.4% | $10,048 | $558 | |||||||||||
1 BR | 75 | 43,200 | 576 | 71 | 94.7% | $52,159 | $695 | |||||||||||
2 BR | 17 | 14,688 | 864 | 17 | 100.0% | $14,102 | $830 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 110 | 63,072 | 573 | 105 | 95.5% | $76,309 | $694 |
Winthrop Court | |||||||||||||||||||||||
Property ID: | 6751 | ||||||||||||||||||||||
# Units | 100 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $832,006 | $8,320 | 100.0% | $849,662 | $8,497 | 100.0% | $870,286 | $8,703 | 100.0% | $883,008 | $8,830 | 100.0% | $887,072 | $8,871 | 100.0% | $891,840 | $8,918 | 100.0% | $894,278 | $8,943 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($123,578) | ($1,236) | 14.9% | ($136,047) | ($1,360) | 16.0% | ($67,411) | ($674) | 7.7% | ($66,776) | ($668) | 7.6% | ($42,032) | ($420) | 4.7% | ($60,740) | ($607) | 6.8% | ($91,403) | ($914) | 10.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $708,428 | $7,084 | 85.1% | $713,615 | $7,136 | 84.0% | $802,875 | $8,029 | 92.3% | $816,232 | $8,162 | 92.4% | $845,040 | $8,450 | 95.3% | $831,100 | $8,311 | 93.2% | $802,875 | $8,029 | 89.8% | ||
RUBS / Utility Reimbursements | $55,369 | $554 | 6.6% | $57,756 | $578 | 6.9% | $62,995 | $630 | 6.7% | $64,940 | $649 | 6.8% | $66,108 | $661 | 6.6% | $62,500 | $625 | 6.6% | $62,995 | $630 | 6.7% | Based on T12 | |
Other Income | $79,537 | $795 | 9.4% | $62,128 | $621 | 7.5% | $71,294 | $713 | 7.6% | $75,002 | $750 | 7.8% | $89,272 | $893 | 8.9% | $58,000 | $580 | 6.1% | $71,294 | $713 | 7.6% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $843,334 | $8,433 | 100.0% | $833,499 | $8,335 | 100.0% | $937,164 | $9,372 | 100.0% | $956,174 | $9,562 | 100.0% | $1,000,420 | $10,004 | 100.0% | $951,600 | $9,516 | 100.0% | $937,164 | $9,372 | 100.0% | ||
Real Estate Taxes | $77,345 | $773 | 9.2% | $82,000 | $820 | 9.8% | $81,996 | $820 | 8.7% | $81,996 | $820 | 8.6% | $81,996 | $820 | 8.2% | $94,469 | $945 | 9.9% | $89,971 | $900 | 9.6% | Based on current tax bills | |
Insurance | $27,604 | $276 | 3.3% | $37,901 | $379 | 4.5% | $39,309 | $393 | 4.2% | $39,309 | $393 | 4.1% | $39,309 | $393 | 3.9% | $38,947 | $389 | 4.1% | $37,734 | $377 | 4.0% | Based on current insurance premium statements | |
Management Fee | $25,300 | $253 | 3.0% | $25,005 | $250 | 3.0% | $28,115 | $281 | 3.0% | $28,685 | $287 | 3.0% | $30,013 | $300 | 3.0% | $28,548 | $285 | 3.0% | $28,115 | $281 | 3.0% | Based on 3.0% management fee | |
Utilities | $76,660 | $767 | 9.1% | $95,286 | $953 | 11.4% | $103,094 | $1,031 | 11.0% | $103,094 | $1,031 | 10.8% | $103,094 | $1,031 | 10.3% | $100,000 | $1,000 | 10.5% | $103,094 | $1,031 | 11.0% | Based on T12 | |
Repairs & Maintenance | $56,755 | $568 | 6.7% | $62,161 | $622 | 7.5% | $61,654 | $617 | 6.6% | $61,654 | $617 | 6.4% | $61,654 | $617 | 6.2% | $65,000 | $650 | 6.8% | $61,654 | $617 | 6.6% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $18,726 | $187 | 2.2% | $10,835 | $108 | 1.3% | $14,222 | $142 | 1.5% | $14,222 | $142 | 1.5% | $14,222 | $142 | 1.4% | $12,500 | $125 | 1.3% | $14,222 | $142 | 1.5% | Based on T12 | |
Payroll & Benefits | $71,504 | $715 | 8.5% | $80,537 | $805 | 9.7% | $79,975 | $800 | 8.5% | $79,975 | $800 | 8.4% | $79,975 | $800 | 8.0% | $77,500 | $775 | 8.1% | $79,975 | $800 | 8.5% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $353,894 | $3,539 | 42.0% | $393,725 | $3,937 | 47.2% | $408,365 | $4,084 | 43.6% | $408,935 | $4,089 | 42.8% | $410,263 | $4,103 | 41.0% | $416,964 | $4,170 | 43.8% | $414,765 | $4,148 | 44.3% | ||
Net Operating Income | $489,440 | $4,894 | 58.0% | $439,774 | $4,398 | 52.8% | $528,799 | $5,288 | 56.4% | $547,239 | $5,472 | 57.2% | $590,157 | $5,902 | 59.0% | $534,636 | $5,346 | 56.2% | $522,399 | $5,224 | 55.7% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25,000 | $250 | $30,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $489,440 | $4,894 | 58.0% | $439,774 | $4,398 | 52.8% | $528,799 | $5,288 | 56.4% | $547,239 | $5,472 | 57.2% | $590,157 | $5,902 | 59.0% | $509,636 | $5,096 | 53.6% | $492,399 | $4,924 | 52.5% |
Winthrop Court | ||||||||||||||||||
Property ID: 6751 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6751bs1 | Studio | 10 | 2,880 | 288 | 8 | 80.0% | $4,864 | $608 | $2.11 | 2 | $625 | $2.17 | $1,250 | $6,114 | $611 | $2.12 | $73,368 |
One Bed One Bath Standard | 6751a11 | 1 BR | 70 | 40,320 | 576 | 68 | 97.1% | $48,980 | $720 | $1.25 | 2 | $775 | $1.35 | $1,550 | $50,530 | $722 | $1.25 | $606,360 |
Two Bed One Bath (2,1) | 6751a21 | 2 BR | 11 | 9,504 | 864 | 11 | 100.0% | $9,799 | $891 | $1.03 | 0 | $850 | $0.98 | $0 | $9,799 | $891 | $1.03 | $117,592 |
Two Bed Two Bath Master (2) | 6751a22 | 2 BR | 9 | 7,776 | 864 | 9 | 100.0% | $8,080 | $898 | $1.04 | 0 | $900 | $1.04 | $0 | $8,080 | $898 | $1.04 | $96,958 |
Totals | 100 | 60,480 | 605 | 96 | 96.0% | $71,723 | $747 | $1.24 | 4 | $780 | $1.29 | $2,800 | $74,523 | $745 | $1.23 | $894,278 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 10 | 2,880 | 288 | 8 | 80.0% | $6,114 | $611 | |||||||||||
1 BR | 70 | 40,320 | 576 | 68 | 97.1% | $50,530 | $722 | |||||||||||
2 BR | 20 | 17,280 | 864 | 20 | 100.0% | $17,879 | $894 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 100 | 60,480 | 605 | 96 | 96.0% | $74,523 | $745 |
Parkville | |||||||||||||||||||||||
Property ID: | 6322 | ||||||||||||||||||||||
# Units | 100 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $735,562 | $7,356 | 100.0% | $740,432 | $7,404 | 100.0% | $761,736 | $7,617 | 100.0% | $773,456 | $7,735 | 100.0% | $778,180 | $7,782 | 100.0% | $761,436 | $7,614 | 100.0% | $784,517 | $7,845 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($227,141) | ($2,271) | 30.9% | ($149,200) | ($1,492) | 20.2% | ($105,653) | ($1,057) | 13.9% | ($90,056) | ($901) | 11.6% | ($96,544) | ($965) | 12.4% | ($53,216) | ($532) | 7.0% | ($128,434) | ($1,284) | 16.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $508,421 | $5,084 | 69.1% | $591,232 | $5,912 | 79.8% | $656,083 | $6,561 | 86.1% | $683,400 | $6,834 | 88.4% | $681,636 | $6,816 | 87.6% | $708,220 | $7,082 | 93.0% | $656,083 | $6,561 | 83.6% | ||
RUBS / Utility Reimbursements | $39,167 | $392 | 6.3% | $47,020 | $470 | 6.6% | $49,433 | $494 | 6.2% | $50,994 | $510 | 6.1% | $51,636 | $516 | 6.2% | $50,000 | $500 | 6.0% | $49,433 | $494 | 6.2% | Based on T12 | |
Other Income | $71,152 | $712 | 11.5% | $77,541 | $775 | 10.8% | $92,946 | $929 | 11.6% | $101,870 | $1,019 | 12.2% | $98,140 | $981 | 11.8% | $75,500 | $755 | 9.1% | $92,946 | $929 | 11.6% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $618,740 | $6,187 | 100.0% | $715,793 | $7,158 | 100.0% | $798,462 | $7,985 | 100.0% | $836,264 | $8,363 | 100.0% | $831,412 | $8,314 | 100.0% | $833,720 | $8,337 | 100.0% | $798,462 | $7,985 | 100.0% | ||
Real Estate Taxes | $62,625 | $626 | 10.1% | $70,000 | $700 | 9.8% | $69,996 | $700 | 8.8% | $69,996 | $700 | 8.4% | $69,996 | $700 | 8.4% | $82,467 | $825 | 9.9% | $78,541 | $785 | 9.8% | Based on current tax bills | |
Insurance | $25,129 | $251 | 4.1% | $34,746 | $347 | 4.9% | $35,804 | $358 | 4.5% | $35,804 | $358 | 4.3% | $35,804 | $358 | 4.3% | $35,770 | $358 | 4.3% | $34,137 | $341 | 4.3% | Based on current insurance premium statements | |
Management Fee | $18,562 | $186 | 3.0% | $21,474 | $215 | 3.0% | $23,953 | $240 | 3.0% | $25,087 | $251 | 3.0% | $24,941 | $249 | 3.0% | $25,012 | $250 | 3.0% | $23,954 | $240 | 3.0% | Based on 3.0% management fee | |
Utilities | $68,164 | $682 | 11.0% | $85,251 | $853 | 11.9% | $69,299 | $693 | 8.7% | $69,299 | $693 | 8.3% | $69,299 | $693 | 8.3% | $65,000 | $650 | 7.8% | $69,299 | $693 | 8.7% | Based on T12 | |
Repairs & Maintenance | $61,173 | $612 | 9.9% | $71,708 | $717 | 10.0% | $56,213 | $562 | 7.0% | $56,213 | $562 | 6.7% | $56,213 | $562 | 6.8% | $55,000 | $550 | 6.6% | $56,213 | $562 | 7.0% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $27,065 | $271 | 4.4% | $20,101 | $201 | 2.8% | $20,675 | $207 | 2.6% | $20,675 | $207 | 2.5% | $20,675 | $207 | 2.5% | $12,500 | $125 | 1.5% | $20,675 | $207 | 2.6% | Based on T12 | |
Payroll & Benefits | $63,834 | $638 | 10.3% | $81,273 | $813 | 11.4% | $110,374 | $1,104 | 13.8% | $110,374 | $1,104 | 13.2% | $110,374 | $1,104 | 13.3% | $87,500 | $875 | 10.5% | $110,374 | $1,104 | 13.8% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $326,552 | $3,266 | 52.8% | $384,553 | $3,846 | 53.7% | $386,314 | $3,863 | 48.4% | $387,448 | $3,874 | 46.3% | $387,302 | $3,873 | 46.6% | $363,249 | $3,632 | 43.6% | $393,193 | $3,932 | 49.2% | ||
Net Operating Income | $292,188 | $2,922 | 47.2% | $331,240 | $3,312 | 46.3% | $412,148 | $4,121 | 51.6% | $448,816 | $4,488 | 53.7% | $444,110 | $4,441 | 53.4% | $470,471 | $4,705 | 56.4% | $405,269 | $4,053 | 50.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25,000 | $250 | $30,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $292,188 | $2,922 | 47.2% | $331,240 | $3,312 | 46.3% | $412,148 | $4,121 | 51.6% | $448,816 | $4,488 | 53.7% | $444,110 | $4,441 | 53.4% | $445,471 | $4,455 | 53.4% | $375,269 | $3,753 | 47.0% |
Parkville | ||||||||||||||||||
Property ID: 6322 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6322bs1 | Studio | 27 | 7,776 | 288 | 27 | 100.0% | $14,979 | $555 | $1.93 | 0 | $600 | $2.08 | $0 | $14,979 | $555 | $1.93 | $179,748 |
One Bed One Bath Galley Ki | 6322b11 | 1 BR | 68 | 39,168 | 576 | 64 | 94.1% | $42,887 | $670 | $1.16 | 4 | $800 | $1.39 | $3,200 | $46,087 | $678 | $1.18 | $553,049 |
Two Bed One Bath (2,1) | 6322a21 | 2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,310 | $862 | $1.00 | 0 | $900 | $1.04 | $0 | $4,310 | $862 | $1.00 | $51,720 |
Totals | 100 | 51,264 | 513 | 96 | 96.0% | $62,176 | $648 | $1.26 | 4 | $751 | $1.46 | $3,200 | $65,376 | $654 | $1.28 | $784,517 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 27 | 7,776 | 288 | 27 | 100.0% | $14,979 | $555 | |||||||||||
1 BR | 68 | 39,168 | 576 | 64 | 94.1% | $46,087 | $678 | |||||||||||
2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,310 | $862 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 100 | 51,264 | 513 | 96 | 96.0% | $65,376 | $654 |
Rosewood Apartments | |||||||||||||||||||||||
Property ID: | 6735 | ||||||||||||||||||||||
# Units | 89 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $754,184 | $8,474 | 100.0% | $775,401 | $8,712 | 100.0% | $790,392 | $8,881 | 100.0% | $795,490 | $8,938 | 100.0% | $800,156 | $8,991 | 100.0% | $801,252 | $9,003 | 100.0% | $801,326 | $9,004 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($73,595) | ($827) | 9.8% | ($78,157) | ($878) | 10.1% | ($59,969) | ($674) | 7.6% | ($38,140) | ($429) | 4.8% | ($38,928) | ($437) | 4.9% | ($55,044) | ($618) | 6.9% | ($70,903) | ($797) | 8.8% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $680,589 | $7,647 | 90.2% | $697,244 | $7,834 | 89.9% | $730,423 | $8,207 | 92.4% | $757,350 | $8,510 | 95.2% | $761,228 | $8,553 | 95.1% | $746,208 | $8,384 | 93.1% | $730,423 | $8,207 | 91.2% | ||
RUBS / Utility Reimbursements | $52,887 | $594 | 6.7% | $55,250 | $621 | 6.8% | $57,212 | $643 | 6.7% | $59,508 | $669 | 6.7% | $59,648 | $670 | 6.8% | $55,625 | $625 | 6.5% | $57,212 | $643 | 6.7% | Based on T12 | |
Other Income | $61,442 | $690 | 7.7% | $55,842 | $627 | 6.9% | $63,209 | $710 | 7.4% | $68,470 | $769 | 7.7% | $62,648 | $704 | 7.1% | $60,520 | $680 | 7.0% | $63,209 | $710 | 7.4% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $794,918 | $8,932 | 100.0% | $808,336 | $9,082 | 100.0% | $850,844 | $9,560 | 100.0% | $885,328 | $9,948 | 100.0% | $883,524 | $9,927 | 100.0% | $862,353 | $9,689 | 100.0% | $850,844 | $9,560 | 100.0% | ||
Real Estate Taxes | $63,937 | $718 | 8.0% | $71,000 | $798 | 8.8% | $71,004 | $798 | 8.3% | $71,004 | $798 | 8.0% | $71,004 | $798 | 8.0% | $81,913 | $920 | 9.5% | $78,012 | $877 | 9.2% | Based on current tax bills | |
Insurance | $24,722 | $278 | 3.1% | $33,947 | $381 | 4.2% | $35,203 | $396 | 4.1% | $35,203 | $396 | 4.0% | $35,203 | $396 | 4.0% | $35,209 | $396 | 4.1% | $33,809 | $380 | 4.0% | Based on current insurance premium statements | |
Management Fee | $23,848 | $268 | 3.0% | $24,250 | $272 | 3.0% | $25,527 | $287 | 3.0% | $26,562 | $298 | 3.0% | $26,507 | $298 | 3.0% | $25,871 | $291 | 3.0% | $25,525 | $287 | 3.0% | Based on 3.0% management fee | |
Utilities | $53,715 | $604 | 6.8% | $60,261 | $677 | 7.5% | $59,640 | $670 | 7.0% | $59,640 | $670 | 6.7% | $59,640 | $670 | 6.8% | $60,075 | $675 | 7.0% | $59,640 | $670 | 7.0% | Based on T12 | |
Repairs & Maintenance | $30,954 | $348 | 3.9% | $33,620 | $378 | 4.2% | $37,020 | $416 | 4.4% | $37,020 | $416 | 4.2% | $37,020 | $416 | 4.2% | $37,825 | $425 | 4.4% | $37,020 | $416 | 4.4% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $16,840 | $189 | 2.1% | $6,933 | $78 | 0.9% | $9,951 | $112 | 1.2% | $9,951 | $112 | 1.1% | $9,951 | $112 | 1.1% | $11,125 | $125 | 1.3% | $9,951 | $112 | 1.2% | Based on T12 | |
Payroll & Benefits | $79,161 | $889 | 10.0% | $70,694 | $794 | 8.7% | $65,212 | $733 | 7.7% | $65,212 | $733 | 7.4% | $65,212 | $733 | 7.4% | $64,525 | $725 | 7.5% | $65,212 | $733 | 7.7% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $293,177 | $3,294 | 36.9% | $300,705 | $3,379 | 37.2% | $303,557 | $3,411 | 35.7% | $304,592 | $3,422 | 34.4% | $304,537 | $3,422 | 34.5% | $316,543 | $3,557 | 36.7% | $309,169 | $3,474 | 36.3% | ||
Net Operating Income | $501,741 | $5,638 | 63.1% | $507,631 | $5,704 | 62.8% | $547,287 | $6,149 | 64.3% | $580,736 | $6,525 | 65.6% | $578,987 | $6,505 | 65.5% | $545,810 | $6,133 | 63.3% | $541,675 | $6,086 | 63.7% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $22,250 | $250 | $26,700 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $501,741 | $5,638 | 63.1% | $507,631 | $5,704 | 62.8% | $547,287 | $6,149 | 64.3% | $580,736 | $6,525 | 65.6% | $578,987 | $6,505 | 65.5% | $523,560 | $5,883 | 60.7% | $514,975 | $5,786 | 60.5% |
Rosewood Apartments | ||||||||||||||||||
Property ID: 6735 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6735bs1 | Studio | 8 | 2,304 | 288 | 8 | 100.0% | $4,683 | $585 | $2.03 | 0 | $650 | $2.26 | $0 | $4,683 | $585 | $2.03 | $56,196 |
One Bed One Bath Standard | 6735a11 | 1 BR | 64 | 36,864 | 576 | 63 | 98.4% | $46,502 | $738 | $1.28 | 1 | $725 | $1.26 | $725 | $47,227 | $738 | $1.28 | $566,728 |
Two Bed One Bath (2,1) | 6735a21 | 2 BR | 13 | 11,232 | 864 | 13 | 100.0% | $11,176 | $860 | $1.00 | 0 | $875 | $1.01 | $0 | $11,176 | $860 | $1.00 | $134,110 |
Two Bed Two Bath Master (2) | 6735a22 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,691 | $923 | $1.07 | 0 | $925 | $1.07 | $0 | $3,691 | $923 | $1.07 | $44,292 |
Totals | 89 | 53,856 | 605 | 88 | 98.9% | $66,052 | $751 | $1.24 | 1 | $749 | $1.24 | $725 | $66,777 | $750 | $1.24 | $801,326 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 8 | 2,304 | 288 | 8 | 100.0% | $4,683 | $585 | |||||||||||
1 BR | 64 | 36,864 | 576 | 63 | 98.4% | $47,227 | $738 | |||||||||||
2 BR | 17 | 14,688 | 864 | 17 | 100.0% | $14,867 | $875 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 89 | 53,856 | 605 | 88 | 98.9% | $66,777 | $750 |
Ashford Hills | |||||||||||||||||||||||
Property ID: | 6814 | ||||||||||||||||||||||
# Units | 77 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $602,194 | $7,821 | 100.0% | $627,739 | $8,152 | 100.0% | $647,393 | $8,408 | 100.0% | $657,150 | $8,534 | 100.0% | $662,420 | $8,603 | 100.0% | $665,520 | $8,643 | 100.0% | $663,725 | $8,620 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($46,131) | ($599) | 7.7% | ($42,412) | ($551) | 6.8% | ($33,606) | ($436) | 5.2% | ($37,178) | ($483) | 5.7% | ($37,500) | ($487) | 5.7% | ($39,931) | ($519) | 6.0% | ($49,938) | ($649) | 7.5% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $556,063 | $7,222 | 92.3% | $585,327 | $7,602 | 93.2% | $613,787 | $7,971 | 94.8% | $619,972 | $8,052 | 94.3% | $624,920 | $8,116 | 94.3% | $625,589 | $8,125 | 94.0% | $613,787 | $7,971 | 92.5% | ||
RUBS / Utility Reimbursements | $46,168 | $600 | 7.1% | $48,489 | $630 | 7.0% | $50,840 | $660 | 7.0% | $51,866 | $674 | 7.1% | $51,976 | $675 | 7.1% | $52,745 | $685 | 7.1% | $50,840 | $660 | 7.0% | Based on T12 | |
Other Income | $51,387 | $667 | 7.9% | $56,531 | $734 | 8.2% | $58,853 | $764 | 8.1% | $59,340 | $771 | 8.1% | $52,712 | $685 | 7.2% | $62,755 | $815 | 8.5% | $58,853 | $764 | 8.1% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $653,618 | $8,489 | 100.0% | $690,347 | $8,966 | 100.0% | $723,480 | $9,396 | 100.0% | $731,178 | $9,496 | 100.0% | $729,608 | $9,475 | 100.0% | $741,089 | $9,625 | 100.0% | $723,480 | $9,396 | 100.0% | ||
Real Estate Taxes | $35,000 | $455 | 5.4% | $35,000 | $455 | 5.1% | $35,004 | $455 | 4.8% | $35,004 | $455 | 4.8% | $35,004 | $455 | 4.8% | $77,168 | $1,002 | 10.4% | $72,229 | $938 | 10.0% | Based on current tax bills | |
Insurance | $19,619 | $255 | 3.0% | $27,050 | $351 | 3.9% | $27,825 | $361 | 3.8% | $27,825 | $361 | 3.8% | $27,825 | $361 | 3.8% | $27,725 | $360 | 3.7% | $26,547 | $345 | 3.7% | Based on current insurance premium statements | |
Management Fee | $19,609 | $255 | 3.0% | $20,710 | $269 | 3.0% | $21,705 | $282 | 3.0% | $21,936 | $285 | 3.0% | $21,889 | $284 | 3.0% | $22,233 | $289 | 3.0% | $21,704 | $282 | 3.0% | Based on 3.0% management fee | |
Utilities | $49,130 | $638 | 7.5% | $54,128 | $703 | 7.8% | $50,722 | $659 | 7.0% | $50,722 | $659 | 6.9% | $50,722 | $659 | 7.0% | $50,435 | $655 | 6.8% | $50,722 | $659 | 7.0% | Based on T12 | |
Repairs & Maintenance | $32,829 | $426 | 5.0% | $24,772 | $322 | 3.6% | $30,857 | $401 | 4.3% | $30,857 | $401 | 4.2% | $30,857 | $401 | 4.2% | $28,875 | $375 | 3.9% | $30,857 | $401 | 4.3% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $10,682 | $139 | 1.6% | $10,248 | $133 | 1.5% | $9,456 | $123 | 1.3% | $9,456 | $123 | 1.3% | $9,456 | $123 | 1.3% | $8,085 | $105 | 1.1% | $9,456 | $123 | 1.3% | Based on T12 | |
Payroll & Benefits | $85,932 | $1,116 | 13.1% | $92,802 | $1,205 | 13.4% | $97,657 | $1,268 | 13.5% | $97,657 | $1,268 | 13.4% | $97,657 | $1,268 | 13.4% | $97,790 | $1,270 | 13.2% | $97,657 | $1,268 | 13.5% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $252,801 | $3,283 | 38.7% | $264,710 | $3,438 | 38.3% | $273,226 | $3,548 | 37.8% | $273,457 | $3,551 | 37.4% | $273,410 | $3,551 | 37.5% | $312,311 | $4,056 | 42.1% | $309,173 | $4,015 | 42.7% | ||
Net Operating Income | $400,817 | $5,205 | 61.3% | $425,637 | $5,528 | 61.7% | $450,254 | $5,847 | 62.2% | $457,721 | $5,944 | 62.6% | $456,198 | $5,925 | 62.5% | $428,778 | $5,569 | 57.9% | $414,307 | $5,381 | 57.3% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $19,250 | $250 | $23,100 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $400,817 | $5,205 | 61.3% | $425,637 | $5,528 | 61.7% | $450,254 | $5,847 | 62.2% | $457,721 | $5,944 | 62.6% | $456,198 | $5,925 | 62.5% | $409,528 | $5,319 | 55.3% | $391,207 | $5,081 | 54.1% |
Ashford Hills | ||||||||||||||||||
Property ID: 6814 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6814bs1 | Studio | 23 | 6,624 | 288 | 22 | 95.7% | $13,663 | $621 | $2.16 | 1 | $625 | $2.17 | $625 | $14,288 | $621 | $2.16 | $171,461 |
One Bed One Bath Standard | 6814a11 | 1 BR | 49 | 28,224 | 576 | 47 | 95.9% | $35,021 | $745 | $1.29 | 2 | $750 | $1.30 | $1,500 | $36,521 | $745 | $1.29 | $438,252 |
Two Bed One Bath (2,1) | 6814a21 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,777 | $889 | $1.03 | 0 | $890 | $1.03 | $0 | $1,777 | $889 | $1.03 | $21,324 |
Two Bed Two Bath Master | 6814a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,724 | $908 | $1.05 | 0 | $910 | $1.05 | $0 | $2,724 | $908 | $1.05 | $32,688 |
Totals | 77 | 39,168 | 509 | 74 | 96.1% | $53,185 | $719 | $1.41 | 3 | $723 | $1.42 | $2,125 | $55,310 | $718 | $1.41 | $663,725 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 23 | 6,624 | 288 | 22 | 95.7% | $14,288 | $621 | |||||||||||
1 BR | 49 | 28,224 | 576 | 47 | 95.9% | $36,521 | $745 | |||||||||||
2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,501 | $900 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 77 | 39,168 | 509 | 74 | 96.1% | $55,310 | $718 |
Amberwood - Massillion | |||||||||||||||||||||||
Property ID: | 6946 | ||||||||||||||||||||||
# Units | 63 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $470,780 | $7,473 | 100.0% | $482,093 | $7,652 | 100.0% | $488,097 | $7,748 | 100.0% | $490,604 | $7,787 | 100.0% | $493,044 | $7,826 | 100.0% | $491,724 | $7,805 | 100.0% | $492,156 | $7,812 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($57,464) | ($912) | 12.2% | ($44,824) | ($711) | 9.3% | ($26,572) | ($422) | 5.4% | ($28,062) | ($445) | 5.7% | ($32,184) | ($511) | 6.5% | ($29,503) | ($468) | 6.0% | ($30,631) | ($486) | 6.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $413,316 | $6,561 | 87.8% | $437,269 | $6,941 | 90.7% | $461,525 | $7,326 | 94.6% | $462,542 | $7,342 | 94.3% | $460,860 | $7,315 | 93.5% | $462,221 | $7,337 | 94.0% | $461,525 | $7,326 | 93.8% | ||
RUBS / Utility Reimbursements | $36,812 | $584 | 7.2% | $38,473 | $611 | 7.4% | $39,210 | $622 | 7.2% | $39,492 | $627 | 7.1% | $40,104 | $637 | 7.1% | $39,375 | $625 | 7.2% | $39,210 | $622 | 7.2% | Based on T12 | |
Other Income | $63,282 | $1,004 | 12.3% | $43,553 | $691 | 8.4% | $45,264 | $718 | 8.3% | $53,012 | $841 | 9.6% | $63,876 | $1,014 | 11.3% | $44,100 | $700 | 8.1% | $45,264 | $718 | 8.3% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $513,410 | $8,149 | 100.0% | $519,295 | $8,243 | 100.0% | $545,999 | $8,667 | 100.0% | $555,046 | $8,810 | 100.0% | $564,840 | $8,966 | 100.0% | $545,696 | $8,662 | 100.0% | $545,999 | $8,667 | 100.0% | ||
Real Estate Taxes | $27,000 | $429 | 5.3% | $27,000 | $429 | 5.2% | $27,000 | $429 | 4.9% | $27,000 | $429 | 4.9% | $27,000 | $429 | 4.8% | $32,350 | $513 | 5.9% | $30,809 | $489 | 5.6% | Based on current tax bills | |
Insurance | $16,900 | $268 | 3.3% | $23,205 | $368 | 4.5% | $23,997 | $381 | 4.4% | $23,997 | $381 | 4.3% | $23,997 | $381 | 4.2% | $23,892 | $379 | 4.4% | $23,009 | $365 | 4.2% | Based on current insurance premium statements | |
Management Fee | $15,402 | $244 | 3.0% | $15,579 | $247 | 3.0% | $16,379 | $260 | 3.0% | $16,650 | $264 | 3.0% | $16,944 | $269 | 3.0% | $16,371 | $260 | 3.0% | $16,380 | $260 | 3.0% | Based on 3.0% management fee | |
Utilities | $44,400 | $705 | 8.6% | $47,290 | $751 | 9.1% | $46,732 | $742 | 8.6% | $46,732 | $742 | 8.4% | $46,732 | $742 | 8.3% | $45,990 | $730 | 8.4% | $46,732 | $742 | 8.6% | Based on T12 | |
Repairs & Maintenance | $47,254 | $750 | 9.2% | $37,961 | $603 | 7.3% | $44,655 | $709 | 8.2% | $44,655 | $709 | 8.0% | $44,655 | $709 | 7.9% | $44,100 | $700 | 8.1% | $44,655 | $709 | 8.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $5,441 | $86 | 1.1% | $5,189 | $82 | 1.0% | $4,764 | $76 | 0.9% | $4,764 | $76 | 0.9% | $4,764 | $76 | 0.8% | $5,670 | $90 | 1.0% | $4,764 | $76 | 0.9% | Based on T12 | |
Payroll & Benefits | $75,680 | $1,201 | 14.7% | $79,500 | $1,262 | 15.3% | $82,241 | $1,305 | 15.1% | $82,241 | $1,305 | 14.8% | $82,241 | $1,305 | 14.6% | $81,900 | $1,300 | 15.0% | $82,241 | $1,305 | 15.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $232,077 | $3,684 | 45.2% | $235,724 | $3,742 | 45.4% | $245,768 | $3,901 | 45.0% | $246,039 | $3,905 | 44.3% | $246,333 | $3,910 | 43.6% | $250,273 | $3,973 | 45.9% | $248,591 | $3,946 | 45.5% | ||
Net Operating Income | $281,333 | $4,466 | 54.8% | $283,571 | $4,501 | 54.6% | $300,231 | $4,766 | 55.0% | $309,007 | $4,905 | 55.7% | $318,507 | $5,056 | 56.4% | $295,423 | $4,689 | 54.1% | $297,408 | $4,721 | 54.5% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,750 | $250 | $18,900 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $281,333 | $4,466 | 54.8% | $283,571 | $4,501 | 54.6% | $300,231 | $4,766 | 55.0% | $309,007 | $4,905 | 55.7% | $318,507 | $5,056 | 56.4% | $279,673 | $4,439 | 51.3% | $278,508 | $4,421 | 51.0% |
Amberwood - Massillion | ||||||||||||||||||
Property ID: 6946 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6946bs1 | Studio | 7 | 2,016 | 288 | 7 | 100.0% | $3,773 | $539 | $1.87 | 0 | $540 | $1.88 | $0 | $3,773 | $539 | $1.87 | $45,276 |
One Bed One Bath Standard | 6946a11 | 1 BR | 50 | 28,800 | 576 | 47 | 94.0% | $30,611 | $651 | $1.13 | 3 | $655 | $1.14 | $1,965 | $32,576 | $652 | $1.13 | $390,912 |
Two Bed One Bath (2,1) | 6946a21 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,330 | $777 | $0.90 | 0 | $780 | $0.90 | $0 | $2,330 | $777 | $0.90 | $27,960 |
Two Bed Two Bath Master | 6946a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,334 | $778 | $0.90 | 0 | $780 | $0.90 | $0 | $2,334 | $778 | $0.90 | $28,008 |
Totals | 63 | 36,000 | 571 | 60 | 95.2% | $39,048 | $651 | $1.14 | 3 | $654 | $1.14 | $1,965 | $41,013 | $651 | $1.14 | $492,156 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 7 | 2,016 | 288 | 7 | 100.0% | $3,773 | $539 | |||||||||||
1 BR | 50 | 28,800 | 576 | 47 | 94.0% | $32,576 | $652 | |||||||||||
2 BR | 6 | 5,184 | 864 | 6 | 100.0% | $4,664 | $777 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 63 | 36,000 | 571 | 60 | 95.2% | $41,013 | $651 |
Sherbrook | |||||||||||||||||||||||
Property ID: | 6761 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $489,729 | $8,162 | 100.0% | $500,752 | $8,346 | 100.0% | $514,151 | $8,569 | 100.0% | $520,320 | $8,672 | 100.0% | $524,064 | $8,734 | 100.0% | $525,000 | $8,750 | 100.0% | $524,064 | $8,734 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($48,501) | ($808) | 9.9% | ($29,775) | ($496) | 5.9% | ($26,149) | ($436) | 5.1% | ($28,084) | ($468) | 5.4% | ($43,656) | ($728) | 8.3% | ($36,378) | ($606) | 6.9% | ($36,062) | ($601) | 6.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $441,228 | $7,354 | 90.1% | $470,977 | $7,850 | 94.1% | $488,002 | $8,133 | 94.9% | $492,236 | $8,204 | 94.6% | $480,408 | $8,007 | 91.7% | $488,622 | $8,144 | 93.1% | $488,002 | $8,133 | 93.1% | ||
RUBS / Utility Reimbursements | $33,186 | $553 | 6.4% | $35,901 | $598 | 6.5% | $37,147 | $619 | 6.5% | $37,488 | $625 | 6.5% | $36,936 | $616 | 6.5% | $37,500 | $625 | 6.6% | $37,147 | $619 | 6.5% | Based on T12 | |
Other Income | $46,028 | $767 | 8.8% | $47,456 | $791 | 8.6% | $45,271 | $755 | 7.9% | $44,614 | $744 | 7.8% | $50,260 | $838 | 8.9% | $43,800 | $730 | 7.7% | $45,271 | $755 | 7.9% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $520,442 | $8,674 | 100.0% | $554,334 | $9,239 | 100.0% | $570,420 | $9,507 | 100.0% | $574,338 | $9,572 | 100.0% | $567,604 | $9,460 | 100.0% | $569,922 | $9,499 | 100.0% | $570,420 | $9,507 | 100.0% | ||
Real Estate Taxes | $48,866 | $814 | 9.4% | $56,000 | $933 | 10.1% | $56,004 | $933 | 9.8% | $56,004 | $933 | 9.8% | $56,004 | $933 | 9.9% | $72,931 | $1,216 | 12.8% | $69,458 | $1,158 | 12.2% | Based on current tax bills | |
Insurance | $15,190 | $253 | 2.9% | $20,855 | $348 | 3.8% | $21,426 | $357 | 3.8% | $21,426 | $357 | 3.7% | $21,426 | $357 | 3.8% | $21,431 | $357 | 3.8% | $20,472 | $341 | 3.6% | Based on current insurance premium statements | |
Management Fee | $15,613 | $260 | 3.0% | $16,630 | $277 | 3.0% | $17,111 | $285 | 3.0% | $17,229 | $287 | 3.0% | $17,027 | $284 | 3.0% | $17,098 | $285 | 3.0% | $17,113 | $285 | 3.0% | Based on 3.0% management fee | |
Utilities | $28,577 | $476 | 5.5% | $30,842 | $514 | 5.6% | $35,651 | $594 | 6.2% | $35,651 | $594 | 6.2% | $35,651 | $594 | 6.3% | $36,000 | $600 | 6.3% | $35,651 | $594 | 6.2% | Based on T12 | |
Repairs & Maintenance | $29,350 | $489 | 5.6% | $33,977 | $566 | 6.1% | $29,422 | $490 | 5.2% | $29,422 | $490 | 5.1% | $29,422 | $490 | 5.2% | $30,000 | $500 | 5.3% | $29,422 | $490 | 5.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $17,865 | $298 | 3.4% | $7,860 | $131 | 1.4% | $8,526 | $142 | 1.5% | $8,526 | $142 | 1.5% | $8,526 | $142 | 1.5% | $7,500 | $125 | 1.3% | $8,526 | $142 | 1.5% | Based on T12 | |
Payroll & Benefits | $55,321 | $922 | 10.6% | $73,014 | $1,217 | 13.2% | $96,231 | $1,604 | 16.9% | $96,231 | $1,604 | 16.8% | $96,231 | $1,604 | 17.0% | $57,000 | $950 | 10.0% | $96,231 | $1,604 | 16.9% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $210,782 | $3,513 | 40.5% | $239,178 | $3,986 | 43.1% | $264,371 | $4,406 | 46.3% | $264,489 | $4,408 | 46.1% | $264,287 | $4,405 | 46.6% | $241,960 | $4,033 | 42.5% | $276,873 | $4,615 | 48.5% | ||
Net Operating Income | $309,660 | $5,161 | 59.5% | $315,156 | $5,253 | 56.9% | $306,049 | $5,101 | 53.7% | $309,849 | $5,164 | 53.9% | $303,317 | $5,055 | 53.4% | $327,962 | $5,466 | 57.5% | $293,547 | $4,892 | 51.5% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $309,660 | $5,161 | 59.5% | $315,156 | $5,253 | 56.9% | $306,049 | $5,101 | 53.7% | $309,849 | $5,164 | 53.9% | $303,317 | $5,055 | 53.4% | $312,962 | $5,216 | 54.9% | $275,547 | $4,592 | 48.3% |
Sherbrook | ||||||||||||||||||
Property ID: 6761 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6761as1 | Studio | 15 | 4,320 | 288 | 14 | 93.3% | $8,766 | $626 | $2.17 | 1 | $625 | $2.17 | $625 | $9,391 | $626 | $2.17 | $112,688 |
Studio Open (0,1) | 6761bs1 | Studio | 3 | 864 | 288 | 3 | 100.0% | $2,062 | $687 | $2.39 | 0 | $625 | $2.17 | $0 | $2,062 | $687 | $2.39 | $24,744 |
One Bed One Bath Standard | 6761a11 | 1 BR | 38 | 21,888 | 576 | 35 | 92.1% | $26,301 | $751 | $1.30 | 3 | $775 | $1.35 | $2,325 | $28,626 | $753 | $1.31 | $343,516 |
Two Bed One Bath (2,1) | 6761a21 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,724 | $862 | $1.00 | 0 | $850 | $0.98 | $0 | $1,724 | $862 | $1.00 | $20,688 |
Two Bed Two Bath Master | 6761a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,869 | $935 | $1.08 | 0 | $900 | $1.04 | $0 | $1,869 | $935 | $1.08 | $22,428 |
Totals | 60 | 30,528 | 509 | 56 | 93.3% | $40,722 | $727 | $1.43 | 4 | $737 | $1.45 | $2,950 | $43,672 | $728 | $1.43 | $524,064 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 18 | 5,184 | 288 | 17 | 94.4% | $11,453 | $636 | |||||||||||
1 BR | 38 | 21,888 | 576 | 35 | 92.1% | $28,626 | $753 | |||||||||||
2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,593 | $898 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 30,528 | 509 | 56 | 93.3% | $43,672 | $728 |
Stonehenge Apartments | |||||||||||||||||||||||
Property ID: | 6642 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $436,814 | $7,280 | 100.0% | $450,665 | $7,511 | 100.0% | $459,997 | $7,667 | 100.0% | $464,150 | $7,736 | 100.0% | $466,504 | $7,775 | 100.0% | $464,760 | $7,746 | 100.0% | $465,480 | $7,758 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($53,085) | ($885) | 12.2% | ($29,277) | ($488) | 6.5% | ($39,897) | ($665) | 8.7% | ($41,372) | ($690) | 8.9% | ($40,140) | ($669) | 8.6% | ($27,886) | ($465) | 6.0% | ($45,380) | ($756) | 9.7% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $383,729 | $6,395 | 87.8% | $421,388 | $7,023 | 93.5% | $420,100 | $7,002 | 91.3% | $422,778 | $7,046 | 91.1% | $426,364 | $7,106 | 91.4% | $436,874 | $7,281 | 94.0% | $420,100 | $7,002 | 90.3% | ||
RUBS / Utility Reimbursements | $34,172 | $570 | 7.3% | $36,458 | $608 | 7.2% | $37,212 | $620 | 7.3% | $38,132 | $636 | 7.2% | $38,348 | $639 | 7.1% | $37,500 | $625 | 7.1% | $37,212 | $620 | 7.3% | Based on T12 | |
Other Income | $51,914 | $865 | 11.0% | $46,678 | $778 | 9.3% | $55,197 | $920 | 10.8% | $67,270 | $1,121 | 12.7% | $77,756 | $1,296 | 14.3% | $51,000 | $850 | 9.7% | $55,197 | $920 | 10.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $469,815 | $7,830 | 100.0% | $504,524 | $8,409 | 100.0% | $512,509 | $8,542 | 100.0% | $528,180 | $8,803 | 100.0% | $542,468 | $9,041 | 100.0% | $525,374 | $8,756 | 100.0% | $512,509 | $8,542 | 100.0% | ||
Real Estate Taxes | $24,000 | $400 | 5.1% | $24,000 | $400 | 4.8% | $24,000 | $400 | 4.7% | $24,000 | $400 | 4.5% | $24,000 | $400 | 4.4% | $27,995 | $467 | 5.3% | $24,238 | $404 | 4.7% | Based on current tax bills | |
Insurance | $16,574 | $276 | 3.5% | $22,756 | $379 | 4.5% | $23,717 | $395 | 4.6% | $23,717 | $395 | 4.5% | $23,717 | $395 | 4.4% | $23,590 | $393 | 4.5% | $22,643 | $377 | 4.4% | Based on current insurance premium statements | |
Management Fee | $14,094 | $235 | 3.0% | $15,136 | $252 | 3.0% | $15,376 | $256 | 3.0% | $15,846 | $264 | 3.0% | $16,275 | $271 | 3.0% | $15,761 | $263 | 3.0% | $15,375 | $256 | 3.0% | Based on 3.0% management fee | |
Utilities | $38,487 | $641 | 8.2% | $43,553 | $726 | 8.6% | $47,820 | $797 | 9.3% | $47,820 | $797 | 9.1% | $47,820 | $797 | 8.8% | $46,500 | $775 | 8.9% | $47,820 | $797 | 9.3% | Based on T12 | |
Repairs & Maintenance | $43,801 | $730 | 9.3% | $33,520 | $559 | 6.6% | $38,478 | $641 | 7.5% | $38,478 | $641 | 7.3% | $38,478 | $641 | 7.1% | $36,000 | $600 | 6.9% | $38,478 | $641 | 7.5% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $7,932 | $132 | 1.7% | $7,260 | $121 | 1.4% | $7,755 | $129 | 1.5% | $7,755 | $129 | 1.5% | $7,755 | $129 | 1.4% | $7,800 | $130 | 1.5% | $7,755 | $129 | 1.5% | Based on T12 | |
Payroll & Benefits | $68,859 | $1,148 | 14.7% | $65,055 | $1,084 | 12.9% | $70,188 | $1,170 | 13.7% | $70,188 | $1,170 | 13.3% | $70,188 | $1,170 | 12.9% | $69,000 | $1,150 | 13.1% | $70,188 | $1,170 | 13.7% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $213,747 | $3,562 | 45.5% | $211,280 | $3,521 | 41.9% | $227,334 | $3,789 | 44.4% | $227,804 | $3,797 | 43.1% | $228,233 | $3,804 | 42.1% | $226,646 | $3,777 | 43.1% | $226,497 | $3,775 | 44.2% | ||
Net Operating Income | $256,068 | $4,268 | 54.5% | $293,244 | $4,887 | 58.1% | $285,175 | $4,753 | 55.6% | $300,376 | $5,006 | 56.9% | $314,235 | $5,237 | 57.9% | $298,728 | $4,979 | 56.9% | $286,012 | $4,767 | 55.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $256,068 | $4,268 | 54.5% | $293,244 | $4,887 | 58.1% | $285,175 | $4,753 | 55.6% | $300,376 | $5,006 | 56.9% | $314,235 | $5,237 | 57.9% | $283,728 | $4,729 | 54.0% | $268,012 | $4,467 | 52.3% |
Stonehenge Apartments | ||||||||||||||||||
Property ID: 6642 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6642bs1 | Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,020 | $503 | $1.75 | 0 | $505 | $1.75 | $0 | $3,020 | $503 | $1.75 | $36,240 |
One Bed One Bath Standard | 6642a11 | 1 BR | 42 | 24,192 | 576 | 40 | 95.2% | $25,510 | $638 | $1.11 | 2 | $640 | $1.11 | $1,280 | $26,790 | $638 | $1.11 | $321,480 |
Two Bed One Bath (2,1) | 6642a21 | 2 BR | 9 | 7,776 | 864 | 9 | 100.0% | $6,700 | $744 | $0.86 | 0 | $745 | $0.86 | $0 | $6,700 | $744 | $0.86 | $80,400 |
Two Bed Two Bath Master | 6642a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,280 | $760 | $0.88 | 0 | $760 | $0.88 | $0 | $2,280 | $760 | $0.88 | $27,360 |
Totals | 60 | 36,288 | 605 | 58 | 96.7% | $37,510 | $647 | $1.07 | 2 | $648 | $1.07 | $1,280 | $38,790 | $647 | $1.07 | $465,480 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,020 | $503 | |||||||||||
1 BR | 42 | 24,192 | 576 | 40 | 95.2% | $26,790 | $638 | |||||||||||
2 BR | 12 | 10,368 | 864 | 12 | 100.0% | $8,980 | $748 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 58 | 96.7% | $38,790 | $647 |
Greenglen II | |||||||||||||||||||||||
Property ID: | 6535 | ||||||||||||||||||||||
# Units | 58 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $432,090 | $7,450 | 100.0% | $426,576 | $7,355 | 100.0% | $428,423 | $7,387 | 100.0% | $431,090 | $7,433 | 100.0% | $433,212 | $7,469 | 100.0% | $434,436 | $7,490 | 100.0% | $434,472 | $7,491 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($76,391) | ($1,317) | 17.7% | ($49,471) | ($853) | 11.6% | ($35,004) | ($604) | 8.2% | ($26,044) | ($449) | 6.0% | ($12,952) | ($223) | 3.0% | ($26,066) | ($449) | 6.0% | ($41,053) | ($708) | 9.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $355,699 | $6,133 | 82.3% | $377,105 | $6,502 | 88.4% | $393,419 | $6,783 | 91.8% | $405,046 | $6,984 | 94.0% | $420,260 | $7,246 | 97.0% | $408,370 | $7,041 | 94.0% | $393,419 | $6,783 | 90.6% | ||
RUBS / Utility Reimbursements | $21,111 | $364 | 5.1% | $23,085 | $398 | 5.3% | $24,097 | $415 | 5.2% | $24,786 | $427 | 5.2% | $25,828 | $445 | 5.4% | $24,650 | $425 | 5.1% | $24,097 | $415 | 5.2% | Based on T12 | |
Other Income | $35,073 | $605 | 8.5% | $33,480 | $577 | 7.7% | $48,153 | $830 | 10.3% | $46,136 | $795 | 9.7% | $36,332 | $626 | 7.5% | $46,400 | $800 | 9.7% | $48,153 | $830 | 10.3% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $411,883 | $7,101 | 100.0% | $433,670 | $7,477 | 100.0% | $465,669 | $8,029 | 100.0% | $475,968 | $8,206 | 100.0% | $482,420 | $8,318 | 100.0% | $479,420 | $8,266 | 100.0% | $465,669 | $8,029 | 100.0% | ||
Real Estate Taxes | $39,000 | $672 | 9.5% | $39,000 | $672 | 9.0% | $39,000 | $672 | 8.4% | $39,000 | $672 | 8.2% | $39,000 | $672 | 8.1% | $45,002 | $776 | 9.4% | $41,775 | $720 | 9.0% | Based on current tax bills | |
Insurance | $15,057 | $260 | 3.7% | $20,692 | $357 | 4.8% | $21,297 | $367 | 4.6% | $21,297 | $367 | 4.5% | $21,297 | $367 | 4.4% | $21,215 | $366 | 4.4% | $20,371 | $351 | 4.4% | Based on current insurance premium statements | |
Management Fee | $12,356 | $213 | 3.0% | $13,010 | $224 | 3.0% | $13,971 | $241 | 3.0% | $14,280 | $246 | 3.0% | $14,474 | $250 | 3.0% | $14,383 | $248 | 3.0% | $13,970 | $241 | 3.0% | Based on 3.0% management fee | |
Utilities | $27,643 | $477 | 6.7% | $27,511 | $474 | 6.3% | $24,361 | $420 | 5.2% | $24,361 | $420 | 5.1% | $24,361 | $420 | 5.0% | $27,840 | $480 | 5.8% | $24,361 | $420 | 5.2% | Based on T12 | |
Repairs & Maintenance | $15,853 | $273 | 3.8% | $16,187 | $279 | 3.7% | $19,693 | $340 | 4.2% | $19,693 | $340 | 4.1% | $19,693 | $340 | 4.1% | $18,850 | $325 | 3.9% | $19,693 | $340 | 4.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $11,579 | $200 | 2.8% | $10,506 | $181 | 2.4% | $10,751 | $185 | 2.3% | $10,751 | $185 | 2.3% | $10,751 | $185 | 2.2% | $8,700 | $150 | 1.8% | $10,751 | $185 | 2.3% | Based on T12 | |
Payroll & Benefits | $86,287 | $1,488 | 20.9% | $81,773 | $1,410 | 18.9% | $81,435 | $1,404 | 17.5% | $81,435 | $1,404 | 17.1% | $81,435 | $1,404 | 16.9% | $75,400 | $1,300 | 15.7% | $81,435 | $1,404 | 17.5% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $207,775 | $3,582 | 50.4% | $208,679 | $3,598 | 48.1% | $210,508 | $3,629 | 45.2% | $210,817 | $3,635 | 44.3% | $211,011 | $3,638 | 43.7% | $211,390 | $3,645 | 44.1% | $212,357 | $3,661 | 45.6% | ||
Net Operating Income | $204,108 | $3,519 | 49.6% | $224,991 | $3,879 | 51.9% | $255,161 | $4,399 | 54.8% | $265,151 | $4,572 | 55.7% | $271,409 | $4,679 | 56.3% | $268,030 | $4,621 | 55.9% | $253,312 | $4,367 | 54.4% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14,500 | $250 | $17,400 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $204,108 | $3,519 | 49.6% | $224,991 | $3,879 | 51.9% | $255,161 | $4,399 | 54.8% | $265,151 | $4,572 | 55.7% | $271,409 | $4,679 | 56.3% | $253,530 | $4,371 | 52.9% | $235,912 | $4,067 | 50.7% |
Greenglen II | ||||||||||||||||||
Property ID: 6535 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6535bs1 | Studio | 1 | 288 | 288 | 1 | 100.0% | $555 | $555 | $1.93 | 0 | $505 | $1.75 | $0 | $555 | $555 | $1.93 | $6,660 |
Studio Standard (0,1) | 6535as1 | Studio | 13 | 3,744 | 288 | 13 | 100.0% | $6,504 | $500 | $1.74 | 0 | $505 | $1.75 | $0 | $6,504 | $500 | $1.74 | $78,048 |
One Bed One Bath Standard | 6535a11 | 1 BR | 39 | 22,464 | 576 | 38 | 97.4% | $24,497 | $645 | $1.12 | 1 | $645 | $1.12 | $645 | $25,142 | $645 | $1.12 | $301,704 |
Two Bed One Bath (2,1) | 6535a21 | 2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,005 | $801 | $0.93 | 0 | $805 | $0.93 | $0 | $4,005 | $801 | $0.93 | $48,060 |
Totals | 58 | 30,816 | 531 | 57 | 98.3% | $35,561 | $624 | $1.17 | 1 | $625 | $1.18 | $645 | $36,206 | $624 | $1.17 | $434,472 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 14 | 4,032 | 288 | 14 | 100.0% | $7,059 | $504 | |||||||||||
1 BR | 39 | 22,464 | 576 | 38 | 97.4% | $25,142 | $645 | |||||||||||
2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,005 | $801 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 58 | 30,816 | 531 | 57 | 98.3% | $36,206 | $624 |
Andover Court | |||||||||||||||||||||||
Property ID: | 6531 | ||||||||||||||||||||||
# Units | 51 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $386,803 | $7,584 | 100.0% | $394,732 | $7,740 | 100.0% | $402,876 | $7,900 | 100.0% | $406,692 | $7,974 | 100.0% | $407,604 | $7,992 | 100.0% | $409,740 | $8,034 | 100.0% | $410,749 | $8,054 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($30,582) | ($600) | 7.9% | ($41,421) | ($812) | 10.5% | ($26,343) | ($517) | 6.5% | ($13,634) | ($267) | 3.4% | ($9,388) | ($184) | 2.3% | ($22,536) | ($442) | 5.5% | ($34,216) | ($671) | 8.3% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $356,221 | $6,985 | 92.1% | $353,311 | $6,928 | 89.5% | $376,533 | $7,383 | 93.5% | $393,058 | $7,707 | 96.6% | $398,216 | $7,808 | 97.7% | $387,204 | $7,592 | 94.5% | $376,533 | $7,383 | 91.7% | ||
RUBS / Utility Reimbursements | $27,555 | $540 | 6.6% | $28,197 | $553 | 6.6% | $29,937 | $587 | 6.6% | $31,638 | $620 | 6.7% | $31,836 | $624 | 6.9% | $30,600 | $600 | 6.6% | $29,937 | $587 | 6.6% | Based on T12 | |
Other Income | $35,878 | $703 | 8.5% | $43,888 | $861 | 10.3% | $47,669 | $935 | 10.5% | $44,810 | $879 | 9.5% | $34,612 | $679 | 7.4% | $44,880 | $880 | 9.7% | $47,669 | $935 | 10.5% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $419,654 | $8,229 | 100.0% | $425,396 | $8,341 | 100.0% | $454,139 | $8,905 | 100.0% | $469,506 | $9,206 | 100.0% | $464,664 | $9,111 | 100.0% | $462,684 | $9,072 | 100.0% | $454,139 | $8,905 | 100.0% | ||
Real Estate Taxes | $21,000 | $412 | 5.0% | $21,000 | $412 | 4.9% | $21,000 | $412 | 4.6% | $21,000 | $412 | 4.5% | $21,000 | $412 | 4.5% | $27,870 | $546 | 6.0% | $26,726 | $524 | 5.9% | Based on current tax bills | |
Insurance | $13,941 | $273 | 3.3% | $19,091 | $374 | 4.5% | $19,748 | $387 | 4.3% | $19,748 | $387 | 4.2% | $19,748 | $387 | 4.2% | $19,660 | $385 | 4.2% | $18,959 | $372 | 4.2% | Based on current insurance premium statements | |
Management Fee | $12,590 | $247 | 3.0% | $12,762 | $250 | 3.0% | $13,624 | $267 | 3.0% | $14,085 | $276 | 3.0% | $13,940 | $273 | 3.0% | $13,881 | $272 | 3.0% | $13,624 | $267 | 3.0% | Based on 3.0% management fee | |
Utilities | $34,363 | $674 | 8.2% | $33,651 | $660 | 7.9% | $36,484 | $715 | 8.0% | $36,484 | $715 | 7.8% | $36,484 | $715 | 7.9% | $36,210 | $710 | 7.8% | $36,484 | $715 | 8.0% | Based on T12 | |
Repairs & Maintenance | $31,366 | $615 | 7.5% | $27,374 | $537 | 6.4% | $33,541 | $658 | 7.4% | $33,541 | $658 | 7.1% | $33,541 | $658 | 7.2% | $34,425 | $675 | 7.4% | $33,541 | $658 | 7.4% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $8,354 | $164 | 2.0% | $5,308 | $104 | 1.2% | $5,407 | $106 | 1.2% | $5,407 | $106 | 1.2% | $5,407 | $106 | 1.2% | $5,355 | $105 | 1.2% | $5,407 | $106 | 1.2% | Based on T12 | |
Payroll & Benefits | $67,426 | $1,322 | 16.1% | $59,874 | $1,174 | 14.1% | $69,891 | $1,370 | 15.4% | $69,891 | $1,370 | 14.9% | $69,891 | $1,370 | 15.0% | $67,320 | $1,320 | 14.5% | $69,891 | $1,370 | 15.4% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $189,040 | $3,707 | 45.0% | $179,060 | $3,511 | 42.1% | $199,695 | $3,916 | 44.0% | $200,156 | $3,925 | 42.6% | $200,011 | $3,922 | 43.0% | $204,721 | $4,014 | 44.2% | $204,632 | $4,012 | 45.1% | ||
Net Operating Income | $230,614 | $4,522 | 55.0% | $246,336 | $4,830 | 57.9% | $254,444 | $4,989 | 56.0% | $269,350 | $5,281 | 57.4% | $264,653 | $5,189 | 57.0% | $257,963 | $5,058 | 55.8% | $249,507 | $4,892 | 54.9% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,750 | $250 | $15,300 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $230,614 | $4,522 | 55.0% | $246,336 | $4,830 | 57.9% | $254,444 | $4,989 | 56.0% | $269,350 | $5,281 | 57.4% | $264,653 | $5,189 | 57.0% | $245,213 | $4,808 | 53.0% | $234,207 | $4,592 | 51.6% |
Andover Court | ||||||||||||||||||
Property ID: 6531 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6531as1 | Studio | 9 | 2,592 | 288 | 9 | 100.0% | $4,931 | $548 | $1.90 | 0 | $540 | $1.88 | $0 | $4,931 | $548 | $1.90 | $59,176 |
One Bed One Bath Standard | 6531a11 | 1 BR | 32 | 18,432 | 576 | 30 | 93.8% | $20,350 | $678 | $1.18 | 2 | $680 | $1.18 | $1,360 | $21,710 | $678 | $1.18 | $260,517 |
Two Bed One Bath (2,1) | 6531a21 | 2 BR | 10 | 8,640 | 864 | 10 | 100.0% | $7,588 | $759 | $0.88 | 0 | $760 | $0.88 | $0 | $7,588 | $759 | $0.88 | $91,056 |
Totals | 51 | 29,664 | 582 | 49 | 96.1% | $32,869 | $671 | $1.15 | 2 | $671 | $1.15 | $1,360 | $34,229 | $671 | $1.15 | $410,749 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 9 | 2,592 | 288 | 9 | 100.0% | $4,931 | $548 | |||||||||||
1 BR | 32 | 18,432 | 576 | 30 | 93.8% | $21,710 | $678 | |||||||||||
2 BR | 10 | 8,640 | 864 | 10 | 100.0% | $7,588 | $759 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 51 | 29,664 | 582 | 49 | 96.1% | $34,229 | $671 |
Sandalwood | |||||||||||||||||||||||
Property ID: | 6630 | ||||||||||||||||||||||
# Units | 50 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $395,863 | $7,917 | 100.0% | $395,370 | $7,907 | 100.0% | $397,088 | $7,942 | 100.0% | $399,174 | $7,983 | 100.0% | $401,736 | $8,035 | 100.0% | $402,864 | $8,057 | 100.0% | $403,574 | $8,071 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($69,129) | ($1,383) | 17.5% | ($47,110) | ($942) | 11.9% | ($18,244) | ($365) | 4.6% | ($10,446) | ($209) | 2.6% | ($17,156) | ($343) | 4.3% | ($24,172) | ($483) | 6.0% | ($24,730) | ($495) | 6.1% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $326,734 | $6,535 | 82.5% | $348,260 | $6,965 | 88.1% | $378,844 | $7,577 | 95.4% | $388,728 | $7,775 | 97.4% | $384,580 | $7,692 | 95.7% | $378,692 | $7,574 | 94.0% | $378,844 | $7,577 | 93.9% | ||
RUBS / Utility Reimbursements | $24,098 | $482 | 6.2% | $23,879 | $478 | 6.0% | $25,495 | $510 | 5.9% | $25,962 | $519 | 5.8% | $25,844 | $517 | 5.7% | $25,500 | $510 | 5.9% | $25,495 | $510 | 5.9% | Based on T12 | |
Other Income | $35,998 | $720 | 9.3% | $26,883 | $538 | 6.7% | $28,312 | $566 | 6.5% | $29,876 | $598 | 6.7% | $42,120 | $842 | 9.3% | $28,750 | $575 | 6.6% | $28,312 | $566 | 6.5% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $386,830 | $7,737 | 100.0% | $399,022 | $7,980 | 100.0% | $432,651 | $8,653 | 100.0% | $444,566 | $8,891 | 100.0% | $452,544 | $9,051 | 100.0% | $432,942 | $8,659 | 100.0% | $432,651 | $8,653 | 100.0% | ||
Real Estate Taxes | $42,000 | $840 | 10.9% | $42,000 | $840 | 10.5% | $42,000 | $840 | 9.7% | $42,000 | $840 | 9.4% | $42,000 | $840 | 9.3% | $53,517 | $1,070 | 12.4% | $45,308 | $906 | 10.5% | Based on current tax bills | |
Insurance | $13,988 | $280 | 3.6% | $19,191 | $384 | 4.8% | $19,929 | $399 | 4.6% | $19,929 | $399 | 4.5% | $19,929 | $399 | 4.4% | $19,830 | $397 | 4.6% | $19,152 | $383 | 4.4% | Based on current insurance premium statements | |
Management Fee | $11,605 | $232 | 3.0% | $11,971 | $239 | 3.0% | $12,979 | $260 | 3.0% | $13,336 | $267 | 3.0% | $13,576 | $272 | 3.0% | $12,988 | $260 | 3.0% | $12,980 | $260 | 3.0% | Based on 3.0% management fee | |
Utilities | $29,610 | $592 | 7.7% | $29,764 | $595 | 7.5% | $29,013 | $580 | 6.7% | $29,013 | $580 | 6.5% | $29,013 | $580 | 6.4% | $29,500 | $590 | 6.8% | $29,013 | $580 | 6.7% | Based on T12 | |
Repairs & Maintenance | $32,704 | $654 | 8.5% | $22,023 | $440 | 5.5% | $21,955 | $439 | 5.1% | $21,955 | $439 | 4.9% | $21,955 | $439 | 4.9% | $23,750 | $475 | 5.5% | $21,955 | $439 | 5.1% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $10,539 | $211 | 2.7% | $9,694 | $194 | 2.4% | $10,367 | $207 | 2.4% | $10,367 | $207 | 2.3% | $10,367 | $207 | 2.3% | $8,750 | $175 | 2.0% | $10,367 | $207 | 2.4% | Based on T12 | |
Payroll & Benefits | $48,306 | $966 | 12.5% | $47,577 | $952 | 11.9% | $50,964 | $1,019 | 11.8% | $50,964 | $1,019 | 11.5% | $50,964 | $1,019 | 11.3% | $50,000 | $1,000 | 11.5% | $50,964 | $1,019 | 11.8% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $188,752 | $3,775 | 48.8% | $182,220 | $3,644 | 45.7% | $187,207 | $3,744 | 43.3% | $187,564 | $3,751 | 42.2% | $187,804 | $3,756 | 41.5% | $198,335 | $3,967 | 45.8% | $189,739 | $3,795 | 43.9% | ||
Net Operating Income | $198,078 | $3,962 | 51.2% | $216,802 | $4,336 | 54.3% | $245,444 | $4,909 | 56.7% | $257,002 | $5,140 | 57.8% | $264,740 | $5,295 | 58.5% | $234,607 | $4,692 | 54.2% | $242,912 | $4,858 | 56.1% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,500 | $250 | $15,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $198,078 | $3,962 | 51.2% | $216,802 | $4,336 | 54.3% | $245,444 | $4,909 | 56.7% | $257,002 | $5,140 | 57.8% | $264,740 | $5,295 | 58.5% | $222,107 | $4,442 | 51.3% | $227,912 | $4,558 | 52.7% |
Sandalwood | ||||||||||||||||||
Property ID: 6630 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6630bs1 | Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,204 | $534 | $1.85 | 0 | $535 | $1.86 | $0 | $3,204 | $534 | $1.85 | $38,448 |
One Bed One Bath Standard | 6630a11 | 1 BR | 34 | 19,584 | 576 | 32 | 94.1% | $20,968 | $655 | $1.14 | 2 | $655 | $1.14 | $1,310 | $22,278 | $655 | $1.14 | $267,338 |
Two Bed One Bath (2,1) | 6630a21 | 2 BR | 8 | 6,912 | 864 | 8 | 100.0% | $6,495 | $812 | $0.94 | 0 | $815 | $0.94 | $0 | $6,495 | $812 | $0.94 | $77,940 |
Two Bed Two Bath Master | 6630a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,654 | $827 | $0.96 | 0 | $830 | $0.96 | $0 | $1,654 | $827 | $0.96 | $19,848 |
Totals | 50 | 29,952 | 599 | 48 | 96.0% | $32,321 | $673 | $1.12 | 2 | $673 | $1.12 | $1,310 | $33,631 | $673 | $1.12 | $403,574 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,204 | $534 | |||||||||||
1 BR | 34 | 19,584 | 576 | 32 | 94.1% | $22,278 | $655 | |||||||||||
2 BR | 10 | 8,640 | 864 | 10 | 100.0% | $8,149 | $815 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 50 | 29,952 | 599 | 48 | 96.0% | $33,631 | $673 |
Meadowood - Mansfield | |||||||||||||||||||||||
Property ID: | 6576 | ||||||||||||||||||||||
# Units | 50 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $335,436 | $6,709 | 100.0% | $341,201 | $6,824 | 100.0% | $345,680 | $6,914 | 100.0% | $348,400 | $6,968 | 100.0% | $348,696 | $6,974 | 100.0% | $346,836 | $6,937 | 100.0% | $347,358 | $6,947 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($32,907) | ($658) | 9.8% | ($31,540) | ($631) | 9.2% | ($21,682) | ($434) | 6.3% | ($20,718) | ($414) | 5.9% | ($19,348) | ($387) | 5.5% | ($22,544) | ($451) | 6.5% | ($23,360) | ($467) | 6.7% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $302,529 | $6,051 | 90.2% | $309,661 | $6,193 | 90.8% | $323,998 | $6,480 | 93.7% | $327,682 | $6,554 | 94.1% | $329,348 | $6,587 | 94.5% | $324,292 | $6,486 | 93.5% | $323,998 | $6,480 | 93.3% | ||
RUBS / Utility Reimbursements | $22,790 | $456 | 6.3% | $23,653 | $473 | 6.5% | $24,926 | $499 | 6.5% | $25,632 | $513 | 6.6% | $25,784 | $516 | 6.9% | $26,000 | $520 | 6.8% | $24,926 | $499 | 6.5% | Based on T12 | |
Other Income | $37,907 | $758 | 10.4% | $29,720 | $594 | 8.2% | $32,044 | $641 | 8.4% | $34,912 | $698 | 9.0% | $20,832 | $417 | 5.5% | $33,000 | $660 | 8.6% | $32,044 | $641 | 8.4% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $363,226 | $7,265 | 100.0% | $363,034 | $7,261 | 100.0% | $380,968 | $7,619 | 100.0% | $388,226 | $7,765 | 100.0% | $375,964 | $7,519 | 100.0% | $383,292 | $7,666 | 100.0% | $380,968 | $7,619 | 100.0% | ||
Real Estate Taxes | $23,000 | $460 | 6.3% | $23,000 | $460 | 6.3% | $23,004 | $460 | 6.0% | $23,004 | $460 | 5.9% | $23,004 | $460 | 6.1% | $27,567 | $551 | 7.2% | $26,116 | $522 | 6.9% | Based on current tax bills | |
Insurance | $13,751 | $275 | 3.8% | $18,795 | $376 | 5.2% | $19,473 | $389 | 5.1% | $19,473 | $389 | 5.0% | $19,473 | $389 | 5.2% | $19,382 | $388 | 5.1% | $18,734 | $375 | 4.9% | Based on current insurance premium statements | |
Management Fee | $10,897 | $218 | 3.0% | $10,891 | $218 | 3.0% | $11,430 | $229 | 3.0% | $11,648 | $233 | 3.0% | $11,280 | $226 | 3.0% | $11,499 | $230 | 3.0% | $11,429 | $229 | 3.0% | Based on 3.0% management fee | |
Utilities | $18,956 | $379 | 5.2% | $18,290 | $366 | 5.0% | $20,429 | $409 | 5.4% | $20,429 | $409 | 5.3% | $20,429 | $409 | 5.4% | $17,250 | $345 | 4.5% | $20,429 | $409 | 5.4% | Based on T12 | |
Repairs & Maintenance | $29,871 | $597 | 8.2% | $24,776 | $496 | 6.8% | $45,160 | $903 | 11.9% | $45,160 | $903 | 11.6% | $45,160 | $903 | 12.0% | $30,000 | $600 | 7.8% | $45,160 | $903 | 11.9% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $8,061 | $161 | 2.2% | $5,525 | $111 | 1.5% | $6,644 | $133 | 1.7% | $6,644 | $133 | 1.7% | $6,644 | $133 | 1.8% | $5,000 | $100 | 1.3% | $6,644 | $133 | 1.7% | Based on T12 | |
Payroll & Benefits | $73,407 | $1,468 | 20.2% | $76,582 | $1,532 | 21.1% | $73,382 | $1,468 | 19.3% | $73,382 | $1,468 | 18.9% | $73,382 | $1,468 | 19.5% | $70,000 | $1,400 | 18.3% | $73,382 | $1,468 | 19.3% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $177,943 | $3,559 | 49.0% | $177,859 | $3,557 | 49.0% | $199,522 | $3,990 | 52.4% | $199,740 | $3,995 | 51.4% | $199,372 | $3,987 | 53.0% | $180,698 | $3,614 | 47.1% | $201,894 | $4,038 | 53.0% | ||
Net Operating Income | $185,283 | $3,706 | 51.0% | $185,175 | $3,704 | 51.0% | $181,446 | $3,629 | 47.6% | $188,486 | $3,770 | 48.6% | $176,592 | $3,532 | 47.0% | $202,594 | $4,052 | 52.9% | $179,074 | $3,581 | 47.0% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,500 | $250 | $15,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $185,283 | $3,706 | 51.0% | $185,175 | $3,704 | 51.0% | $181,446 | $3,629 | 47.6% | $188,486 | $3,770 | 48.6% | $176,592 | $3,532 | 47.0% | $190,094 | $3,802 | 49.6% | $164,074 | $3,281 | 43.1% |
Meadowood - Mansfield | ||||||||||||||||||
Property ID: 6576 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6576as1 | Studio | 5 | 1,440 | 288 | 5 | 100.0% | $2,287 | $457 | $1.59 | 0 | $460 | $1.60 | $0 | $2,287 | $457 | $1.59 | $27,444 |
One Bed One Bath Standard | 6576a11 | 1 BR | 35 | 20,160 | 576 | 34 | 97.1% | $19,010 | $559 | $0.97 | 1 | $560 | $0.97 | $560 | $19,570 | $559 | $0.97 | $234,843 |
Two Bed One Bath (2,1) | 6576a21 | 2 BR | 5 | 4,320 | 864 | 4 | 80.0% | $2,792 | $698 | $0.81 | 1 | $700 | $0.81 | $700 | $3,492 | $698 | $0.81 | $41,908 |
Two Bed Two Bath Galley Ki | 6576b22 | 2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $3,597 | $719 | $0.83 | 0 | $720 | $0.83 | $0 | $3,597 | $719 | $0.83 | $43,164 |
Totals | 50 | 30,240 | 605 | 48 | 96.0% | $27,687 | $577 | $0.95 | 2 | $580 | $0.96 | $1,260 | $28,947 | $579 | $0.96 | $347,358 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 5 | 1,440 | 288 | 5 | 100.0% | $2,287 | $457 | |||||||||||
1 BR | 35 | 20,160 | 576 | 34 | 97.1% | $19,570 | $559 | |||||||||||
2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $7,089 | $709 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 50 | 30,240 | 605 | 48 | 96.0% | $28,947 | $579 |
Cambridge Commons | |||||||||||||||||||||||
Property ID: | 6804 | ||||||||||||||||||||||
# Units | 235 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,778,649 | $7,569 | 100.0% | $1,837,659 | $7,820 | 100.0% | $1,885,471 | $8,023 | 100.0% | $1,905,464 | $8,108 | 100.0% | $1,913,620 | $8,143 | 100.0% | $2,003,520 | $8,526 | 100.0% | $1,914,891 | $8,148 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($304,380) | ($1,295) | 17.1% | ($238,462) | ($1,015) | 13.0% | ($243,195) | ($1,035) | 12.9% | ($226,778) | ($965) | 11.9% | ($185,620) | ($790) | 9.7% | ($140,246) | ($597) | 7.0% | ($272,615) | ($1,160) | 14.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $1,474,269 | $6,273 | 82.9% | $1,599,197 | $6,805 | 87.0% | $1,642,276 | $6,988 | 87.1% | $1,678,686 | $7,143 | 88.1% | $1,728,000 | $7,353 | 90.3% | $1,863,274 | $7,929 | 93.0% | $1,642,276 | $6,988 | 85.8% | ||
RUBS / Utility Reimbursements | $124,952 | $532 | 6.9% | $142,315 | $606 | 7.5% | $148,296 | $631 | 7.6% | $150,016 | $638 | 7.4% | $153,776 | $654 | 7.4% | $147,000 | $626 | 6.8% | $148,296 | $631 | 7.6% | Based on T12 | |
Other Income | $200,146 | $852 | 11.1% | $151,466 | $645 | 8.0% | $173,059 | $736 | 8.8% | $195,310 | $831 | 9.6% | $191,736 | $816 | 9.2% | $140,000 | $596 | 6.5% | $173,059 | $736 | 8.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,799,367 | $7,657 | 100.0% | $1,892,978 | $8,055 | 100.0% | $1,963,631 | $8,356 | 100.0% | $2,024,012 | $8,613 | 100.0% | $2,073,512 | $8,823 | 100.0% | $2,150,274 | $9,150 | 100.0% | $1,963,631 | $8,356 | 100.0% | ||
Real Estate Taxes | $91,479 | $389 | 5.1% | $91,000 | $387 | 4.8% | $90,996 | $387 | 4.6% | $90,996 | $387 | 4.5% | $90,996 | $387 | 4.4% | $83,407 | $355 | 3.9% | $87,323 | $372 | 4.4% | Based on current tax bills | |
Insurance | $61,069 | $260 | 3.4% | $84,494 | $360 | 4.5% | $87,405 | $372 | 4.5% | $87,405 | $372 | 4.3% | $87,405 | $372 | 4.2% | $87,500 | $372 | 4.1% | $83,516 | $355 | 4.3% | Based on current insurance premium statements | |
Management Fee | $53,981 | $230 | 3.0% | $56,789 | $242 | 3.0% | $58,909 | $251 | 3.0% | $60,720 | $258 | 3.0% | $62,205 | $265 | 3.0% | $64,508 | $275 | 3.0% | $58,909 | $251 | 3.0% | Based on 3.0% management fee | |
Utilities | $173,705 | $739 | 9.7% | $177,628 | $756 | 9.4% | $183,506 | $781 | 9.3% | $183,506 | $781 | 9.1% | $183,506 | $781 | 8.9% | $181,750 | $773 | 8.5% | $183,506 | $781 | 9.3% | Based on T12 | |
Repairs & Maintenance | $123,332 | $525 | 6.9% | $117,246 | $499 | 6.2% | $114,790 | $488 | 5.8% | $114,790 | $488 | 5.7% | $114,790 | $488 | 5.5% | $122,250 | $520 | 5.7% | $114,790 | $488 | 5.8% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $34,772 | $148 | 1.9% | $29,253 | $124 | 1.5% | $32,524 | $138 | 1.7% | $32,524 | $138 | 1.6% | $32,524 | $138 | 1.6% | $52,875 | $225 | 2.5% | $32,524 | $138 | 1.7% | Based on T12 | |
Payroll & Benefits | $250,262 | $1,065 | 13.9% | $228,163 | $971 | 12.1% | $234,045 | $996 | 11.9% | $234,045 | $996 | 11.6% | $234,045 | $996 | 11.3% | $270,250 | $1,150 | 12.6% | $234,045 | $996 | 11.9% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $788,600 | $3,356 | 43.8% | $784,573 | $3,339 | 41.4% | $802,175 | $3,414 | 40.9% | $803,986 | $3,421 | 39.7% | $805,471 | $3,428 | 38.8% | $862,540 | $3,670 | 40.1% | $794,613 | $3,381 | 40.5% | ||
Net Operating Income | $1,010,767 | $4,301 | 56.2% | $1,108,405 | $4,717 | 58.6% | $1,161,456 | $4,942 | 59.1% | $1,220,026 | $5,192 | 60.3% | $1,268,041 | $5,396 | 61.2% | $1,287,734 | $5,480 | 59.9% | $1,169,018 | $4,975 | 59.5% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $58,750 | $250 | $70,500 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $1,010,767 | $4,301 | 56.2% | $1,108,405 | $4,717 | 58.6% | $1,161,456 | $4,942 | 59.1% | $1,220,026 | $5,192 | 60.3% | $1,268,041 | $5,396 | 61.2% | $1,228,984 | $5,230 | 57.2% | $1,098,518 | $4,675 | 55.9% |
Cambridge Commons | ||||||||||||||||||
Property ID: 6804 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6804bs1 | Studio | 43 | 12,384 | 288 | 41 | 95.3% | $23,796 | $580 | $2.02 | 2 | $610 | $2.12 | $1,220 | $25,016 | $582 | $2.02 | $300,192 |
One Bed One Bath Standard | 6804a11 | 1 BR | 161 | 92,736 | 576 | 149 | 92.5% | $101,144 | $679 | $1.18 | 12 | $710 | $1.23 | $8,520 | $109,664 | $681 | $1.18 | $1,315,964 |
One Bed One Bath Barrier F | 6804c11 | 1 BR | 10 | 5,760 | 576 | 10 | 100.0% | $6,923 | $692 | $1.20 | 0 | $710 | $1.23 | $0 | $6,923 | $692 | $1.20 | $83,076 |
Two Bed One Bath (2,1) | 6804a21 | 2 BR | 7 | 6,048 | 864 | 7 | 100.0% | $6,126 | $875 | $1.01 | 0 | $920 | $1.06 | $0 | $6,126 | $875 | $1.01 | $73,512 |
Two Bed Two Bath Master | 6804a22 | 2 BR | 13 | 11,232 | 864 | 13 | 100.0% | $10,902 | $839 | $0.97 | 0 | $920 | $1.06 | $0 | $10,902 | $839 | $0.97 | $130,819 |
Three Bed Two Bath (3,2) | 6804a32 | 3 BR | 1 | 864 | 864 | 1 | 100.0% | $944 | $944 | $1.09 | 0 | $920 | $1.06 | $0 | $944 | $944 | $1.09 | $11,328 |
Totals | 235 | 129,024 | 549 | 221 | 94.0% | $149,834 | $678 | $1.23 | 14 | $710 | $1.29 | $9,740 | $159,574 | $679 | $1.24 | $1,914,891 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 43 | 12,384 | 288 | 41 | 95.3% | $25,016 | $582 | |||||||||||
1 BR | 171 | 98,496 | 576 | 159 | 93.0% | $116,587 | $682 | |||||||||||
2 BR | 20 | 17,280 | 864 | 20 | 100.0% | $17,028 | $851 | |||||||||||
3 BR | 1 | 864 | 864 | 1 | 100.0% | $944 | $944 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 235 | 129,024 | 549 | 221 | 94.0% | $159,574 | $679 |
Cherry Glen | |||||||||||||||||||||||
Property ID: | 6846 | ||||||||||||||||||||||
# Units | 137 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (07/2021) | T12 (08/2021) | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,065,166 | $7,775 | 100.0% | $1,100,584 | $8,033 | 100.0% | $1,138,057 | $8,307 | 100.0% | $1,155,208 | $8,432 | 100.0% | $1,156,196 | $8,439 | 100.0% | $1,154,340 | $8,426 | 100.0% | $1,131,848 | $8,262 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($183,226) | ($1,337) | 17.2% | ($133,569) | ($975) | 12.1% | ($112,800) | ($823) | 9.9% | ($111,154) | ($811) | 9.6% | ($103,844) | ($758) | 9.0% | ($80,803) | ($590) | 7.0% | ($106,591) | ($778) | 9.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $881,940 | $6,438 | 82.8% | $967,015 | $7,059 | 87.9% | $1,025,257 | $7,484 | 90.1% | $1,044,054 | $7,621 | 90.4% | $1,052,352 | $7,681 | 91.0% | $1,073,537 | $7,836 | 93.0% | $1,025,257 | $7,484 | 90.6% | ||
RUBS / Utility Reimbursements | $68,532 | $500 | 6.5% | $80,453 | $587 | 6.9% | $84,533 | $617 | 7.0% | $86,074 | $628 | 7.0% | $87,352 | $638 | 7.0% | $85,000 | $620 | 6.9% | $84,533 | $617 | 7.0% | Based on T12 | |
Other Income | $109,450 | $799 | 10.3% | $118,454 | $865 | 10.2% | $104,224 | $761 | 8.6% | $100,926 | $737 | 8.2% | $100,264 | $732 | 8.1% | $75,000 | $547 | 6.1% | $104,224 | $761 | 8.6% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,059,922 | $7,737 | 100.0% | $1,165,922 | $8,510 | 100.0% | $1,214,014 | $8,861 | 100.0% | $1,231,054 | $8,986 | 100.0% | $1,239,968 | $9,051 | 100.0% | $1,233,537 | $9,004 | 100.0% | $1,214,014 | $8,861 | 100.0% | ||
Real Estate Taxes | $65,587 | $479 | 6.2% | $69,000 | $504 | 5.9% | $69,000 | $504 | 5.7% | $69,000 | $504 | 5.6% | $69,000 | $504 | 5.6% | $69,395 | $507 | 5.6% | $67,543 | $493 | 5.6% | Based on current tax bills | |
Insurance | $35,580 | $260 | 3.4% | $49,113 | $358 | 4.2% | $50,705 | $370 | 4.2% | $50,705 | $370 | 4.1% | $50,705 | $370 | 4.1% | $50,500 | $369 | 4.1% | $48,434 | $354 | 4.0% | Based on current insurance premium statements | |
Management Fee | $31,798 | $232 | 3.0% | $34,978 | $255 | 3.0% | $36,420 | $266 | 3.0% | $36,931 | $270 | 3.0% | $37,199 | $272 | 3.0% | $37,006 | $270 | 3.0% | $36,420 | $266 | 3.0% | Based on 3.0% management fee | |
Utilities | $89,068 | $650 | 8.4% | $111,348 | $813 | 9.6% | $117,918 | $861 | 9.7% | $117,918 | $861 | 9.6% | $117,918 | $861 | 9.5% | $113,250 | $827 | 9.2% | $117,918 | $861 | 9.7% | Based on T12 | |
Repairs & Maintenance | $65,213 | $476 | 6.2% | $57,682 | $421 | 4.9% | $51,099 | $373 | 4.2% | $51,099 | $373 | 4.2% | $51,099 | $373 | 4.1% | $71,950 | $525 | 5.8% | $51,099 | $373 | 4.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $23,292 | $170 | 2.2% | $21,826 | $159 | 1.9% | $23,363 | $171 | 1.9% | $23,363 | $171 | 1.9% | $23,363 | $171 | 1.9% | $30,825 | $225 | 2.5% | $23,363 | $171 | 1.9% | Based on T12 | |
Payroll & Benefits | $167,736 | $1,224 | 15.8% | $174,169 | $1,271 | 14.9% | $160,894 | $1,174 | 13.3% | $160,894 | $1,174 | 13.1% | $160,894 | $1,174 | 13.0% | $157,550 | $1,150 | 12.8% | $160,894 | $1,174 | 13.3% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $478,274 | $3,491 | 45.1% | $518,116 | $3,782 | 44.4% | $509,399 | $3,718 | 42.0% | $509,910 | $3,722 | 41.4% | $510,178 | $3,724 | 41.1% | $530,476 | $3,872 | 43.0% | $505,671 | $3,691 | 41.7% | ||
Net Operating Income | $581,648 | $4,246 | 54.9% | $647,806 | $4,729 | 55.6% | $704,615 | $5,143 | 58.0% | $721,144 | $5,264 | 58.6% | $729,790 | $5,327 | 58.9% | $703,061 | $5,132 | 57.0% | $708,343 | $5,170 | 58.3% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $34,250 | $250 | $41,100 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $581,648 | $4,246 | 54.9% | $647,806 | $4,729 | 55.6% | $704,615 | $5,143 | 58.0% | $721,144 | $5,264 | 58.6% | $729,790 | $5,327 | 58.9% | $668,811 | $4,882 | 54.2% | $667,243 | $4,870 | 55.0% |
Cherry Glen | ||||||||||||||||||
Property ID: 6846 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6846bs1 | Studio | 28 | 8,064 | 288 | 26 | 92.9% | $15,120 | $582 | $2.02 | 2 | $595 | $2.07 | $1,190 | $16,310 | $583 | $2.02 | $195,720 |
One Bed One Bath Standard | 6846a11 | 1 BR | 93 | 53,568 | 576 | 89 | 95.7% | $62,392 | $701 | $1.22 | 4 | $715 | $1.24 | $2,860 | $65,252 | $702 | $1.22 | $783,020 |
One Bed One Bath Barrier F | 6846c11 | 1 BR | 6 | 3,456 | 576 | 6 | 100.0% | $4,178 | $696 | $1.21 | 0 | $715 | $1.24 | $0 | $4,178 | $696 | $1.21 | $50,136 |
Two Bed One Bath (2,1) | 6846a21 | 2 BR | 5 | 4,320 | 864 | 4 | 80.0% | $3,500 | $875 | $1.01 | 1 | $840 | $0.97 | $840 | $4,340 | $868 | $1.00 | $52,080 |
Two Bed Two Bath Master | 6846a22 | 2 BR | 5 | 4,320 | 864 | 5 | 100.0% | $4,241 | $848 | $0.98 | 0 | $910 | $1.05 | $0 | $4,241 | $848 | $0.98 | $50,892 |
Totals | 137 | 73,728 | 538 | 130 | 94.9% | $89,431 | $688 | $1.28 | 7 | $702 | $1.30 | $4,890 | $94,321 | $688 | $1.28 | $1,131,848 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 28 | 8,064 | 288 | 26 | 92.9% | $16,310 | $583 | |||||||||||
1 BR | 99 | 57,024 | 576 | 95 | 96.0% | $69,430 | $701 | |||||||||||
2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $8,581 | $858 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 137 | 73,728 | 538 | 130 | 94.9% | $94,321 | $688 |
Olivewood | |||||||||||||||||||||||
Property ID: | 6721 | ||||||||||||||||||||||
# Units | 128 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $993,933 | $7,765 | 100.0% | $1,028,213 | $8,033 | 100.0% | $1,052,708 | $8,224 | 100.0% | $1,064,814 | $8,319 | 100.0% | $1,071,968 | $8,375 | 100.0% | $1,084,740 | $8,475 | 100.0% | $1,068,005 | $8,344 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($137,865) | ($1,077) | 13.9% | ($113,133) | ($884) | 11.0% | ($82,786) | ($647) | 7.9% | ($55,604) | ($434) | 5.2% | ($59,844) | ($468) | 5.6% | ($65,084) | ($508) | 6.0% | ($98,083) | ($766) | 9.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $856,068 | $6,688 | 86.1% | $915,080 | $7,149 | 89.0% | $969,922 | $7,578 | 92.1% | $1,009,210 | $7,884 | 94.8% | $1,012,124 | $7,907 | 94.4% | $1,019,656 | $7,966 | 94.0% | $969,922 | $7,578 | 90.8% | ||
RUBS / Utility Reimbursements | $73,314 | $573 | 7.0% | $82,523 | $645 | 7.5% | $85,376 | $667 | 7.4% | $86,406 | $675 | 7.3% | $87,724 | $685 | 7.3% | $86,000 | $672 | 7.2% | $85,376 | $667 | 7.4% | Based on T12 | |
Other Income | $113,020 | $883 | 10.8% | $103,309 | $807 | 9.4% | $102,054 | $797 | 8.8% | $93,180 | $728 | 7.8% | $107,372 | $839 | 8.9% | $86,000 | $672 | 7.2% | $102,054 | $797 | 8.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,042,402 | $8,144 | 100.0% | $1,100,912 | $8,601 | 100.0% | $1,157,352 | $9,042 | 100.0% | $1,188,796 | $9,287 | 100.0% | $1,207,220 | $9,431 | 100.0% | $1,191,656 | $9,310 | 100.0% | $1,157,352 | $9,042 | 100.0% | ||
Real Estate Taxes | $33,000 | $258 | 3.2% | $33,000 | $258 | 3.0% | $33,000 | $258 | 2.9% | $33,000 | $258 | 2.8% | $33,000 | $258 | 2.7% | $44,243 | $346 | 3.7% | $44,243 | $346 | 3.8% | Based on current tax bills | |
Insurance | $33,992 | $266 | 3.3% | $46,886 | $366 | 4.3% | $48,477 | $379 | 4.2% | $48,477 | $379 | 4.1% | $48,477 | $379 | 4.0% | $48,500 | $379 | 4.1% | $46,390 | $362 | 4.0% | Based on current insurance premium statements | |
Management Fee | $31,272 | $244 | 3.0% | $33,027 | $258 | 3.0% | $34,719 | $271 | 3.0% | $35,662 | $279 | 3.0% | $36,215 | $283 | 3.0% | $35,750 | $279 | 3.0% | $34,721 | $271 | 3.0% | Based on 3.0% management fee | |
Utilities | $77,873 | $608 | 7.5% | $76,150 | $595 | 6.9% | $79,106 | $618 | 6.8% | $79,106 | $618 | 6.7% | $79,106 | $618 | 6.6% | $75,000 | $586 | 6.3% | $79,106 | $618 | 6.8% | Based on T12 | |
Repairs & Maintenance | $54,655 | $427 | 5.2% | $58,581 | $458 | 5.3% | $66,933 | $523 | 5.8% | $66,933 | $523 | 5.6% | $66,933 | $523 | 5.5% | $71,500 | $559 | 6.0% | $66,933 | $523 | 5.8% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $26,928 | $210 | 2.6% | $18,030 | $141 | 1.6% | $18,177 | $142 | 1.6% | $18,177 | $142 | 1.5% | $18,177 | $142 | 1.5% | $28,800 | $225 | 2.4% | $18,177 | $142 | 1.6% | Based on T12 | |
Payroll & Benefits | $166,592 | $1,302 | 16.0% | $148,861 | $1,163 | 13.5% | $151,194 | $1,181 | 13.1% | $151,194 | $1,181 | 12.7% | $151,194 | $1,181 | 12.5% | $147,200 | $1,150 | 12.4% | $151,194 | $1,181 | 13.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $424,312 | $3,315 | 40.7% | $414,535 | $3,239 | 37.7% | $431,606 | $3,372 | 37.3% | $432,549 | $3,379 | 36.4% | $433,102 | $3,384 | 35.9% | $450,993 | $3,523 | 37.8% | $440,764 | $3,443 | 38.1% | ||
Net Operating Income | $618,090 | $4,829 | 59.3% | $686,377 | $5,362 | 62.3% | $725,746 | $5,670 | 62.7% | $756,247 | $5,908 | 63.6% | $774,118 | $6,048 | 64.1% | $740,663 | $5,786 | 62.2% | $716,588 | $5,598 | 61.9% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $32,000 | $250 | $38,400 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $618,090 | $4,829 | 59.3% | $686,377 | $5,362 | 62.3% | $725,746 | $5,670 | 62.7% | $756,247 | $5,908 | 63.6% | $774,118 | $6,048 | 64.1% | $708,663 | $5,536 | 59.5% | $678,188 | $5,298 | 58.6% |
Olivewood | ||||||||||||||||||
Property ID: 6721 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6721bs1 | Studio | 25 | 7,200 | 288 | 23 | 92.0% | $13,660 | $594 | $2.06 | 2 | $605 | $2.10 | $1,210 | $14,870 | $595 | $2.07 | $178,440 |
One Bed One Bath Standard | 6721a11 | 1 BR | 80 | 46,080 | 576 | 77 | 96.3% | $53,438 | $694 | $1.20 | 3 | $705 | $1.22 | $2,115 | $55,553 | $694 | $1.21 | $666,635 |
One Bed One Bath Barrier F | 6721c11 | 1 BR | 6 | 3,456 | 576 | 6 | 100.0% | $4,090 | $682 | $1.18 | 0 | $705 | $1.22 | $0 | $4,090 | $682 | $1.18 | $49,080 |
Two Bed One Bath (2,1) | 6721a21 | 2 BR | 11 | 9,504 | 864 | 11 | 100.0% | $9,279 | $844 | $0.98 | 0 | $845 | $0.98 | $0 | $9,279 | $844 | $0.98 | $111,354 |
Two Bed Two Bath Master (2) | 6721a22 | 2 BR | 6 | 5,184 | 864 | 5 | 83.3% | $4,308 | $862 | $1.00 | 1 | $900 | $1.04 | $900 | $5,208 | $868 | $1.00 | $62,496 |
Totals | 128 | 71,424 | 558 | 122 | 95.3% | $84,775 | $695 | $1.25 | 6 | $707 | $1.27 | $4,225 | $89,000 | $695 | $1.25 | $1,068,005 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 25 | 7,200 | 288 | 23 | 92.0% | $14,870 | $595 | |||||||||||
1 BR | 86 | 49,536 | 576 | 83 | 96.5% | $59,643 | $694 | |||||||||||
2 BR | 17 | 14,688 | 864 | 16 | 94.1% | $14,487 | $852 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 128 | 71,424 | 558 | 122 | 95.3% | $89,000 | $695 |
Annhurst | |||||||||||||||||||||||
Property ID: | 6695 | ||||||||||||||||||||||
# Units | 83 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $674,758 | $8,130 | 100.0% | $701,907 | $8,457 | 100.0% | $712,200 | $8,581 | 100.0% | $718,974 | $8,662 | 100.0% | $722,632 | $8,706 | 100.0% | $736,620 | $8,875 | 100.0% | $715,602 | $8,622 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
�� | |||||||||||||||||||||||
Total Vacancy | ($73,361) | ($884) | 10.9% | ($85,327) | ($1,028) | 12.2% | ($81,868) | ($986) | 11.5% | ($98,394) | ($1,185) | 13.7% | ($105,536) | ($1,272) | 14.6% | ($47,880) | ($577) | 6.5% | ($85,270) | ($1,027) | 11.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $601,397 | $7,246 | 89.1% | $616,580 | $7,429 | 87.8% | $630,332 | $7,594 | 88.5% | $620,580 | $7,477 | 86.3% | $617,096 | $7,435 | 85.4% | $688,740 | $8,298 | 93.5% | $630,332 | $7,594 | 88.1% | ||
RUBS / Utility Reimbursements | $51,643 | $622 | 7.1% | $56,357 | $679 | 7.6% | $57,793 | $696 | 7.6% | $58,428 | $704 | 7.7% | $59,392 | $716 | 8.0% | $58,000 | $699 | 7.3% | $57,793 | $696 | 7.6% | Based on T12 | |
Other Income | $71,925 | $867 | 9.9% | $68,730 | $828 | 9.3% | $76,525 | $922 | 10.0% | $81,366 | $980 | 10.7% | $67,556 | $814 | 9.1% | $52,000 | $627 | 6.5% | $76,525 | $922 | 10.0% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $724,965 | $8,735 | 100.0% | $741,667 | $8,936 | 100.0% | $764,650 | $9,213 | 100.0% | $760,374 | $9,161 | 100.0% | $744,044 | $8,964 | 100.0% | $798,740 | $9,623 | 100.0% | $764,650 | $9,213 | 100.0% | ||
Real Estate Taxes | $32,462 | $391 | 4.5% | $33,000 | $398 | 4.4% | $33,000 | $398 | 4.3% | $33,000 | $398 | 4.3% | $33,000 | $398 | 4.4% | $27,627 | $333 | 3.5% | $32,047 | $386 | 4.2% | Based on current tax bills | |
Insurance | $22,880 | $276 | 3.2% | $31,451 | $379 | 4.2% | $32,695 | $394 | 4.3% | $32,695 | $394 | 4.3% | $32,695 | $394 | 4.4% | $33,000 | $398 | 4.1% | $31,389 | $378 | 4.1% | Based on current insurance premium statements | |
Management Fee | $21,749 | $262 | 3.0% | $22,250 | $268 | 3.0% | $22,939 | $276 | 3.0% | $22,811 | $275 | 3.0% | $22,321 | $269 | 3.0% | $23,962 | $289 | 3.0% | $22,940 | $276 | 3.0% | Based on 3.0% management fee | |
Utilities | $57,721 | $695 | 8.0% | $64,984 | $783 | 8.8% | $69,771 | $841 | 9.1% | $69,771 | $841 | 9.2% | $69,771 | $841 | 9.4% | $70,250 | $846 | 8.8% | $69,771 | $841 | 9.1% | Based on T12 | |
Repairs & Maintenance | $36,789 | $443 | 5.1% | $40,327 | $486 | 5.4% | $44,950 | $542 | 5.9% | $44,950 | $542 | 5.9% | $44,950 | $542 | 6.0% | $52,050 | $627 | 6.5% | $44,950 | $542 | 5.9% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $17,151 | $207 | 2.4% | $12,132 | $146 | 1.6% | $17,617 | $212 | 2.3% | $17,617 | $212 | 2.3% | $17,617 | $212 | 2.4% | $18,675 | $225 | 2.3% | $17,617 | $212 | 2.3% | Based on T12 | |
Payroll & Benefits | $94,535 | $1,139 | 13.0% | $94,016 | $1,133 | 12.7% | $92,753 | $1,118 | 12.1% | $92,753 | $1,118 | 12.2% | $92,753 | $1,118 | 12.5% | $95,450 | $1,150 | 12.0% | $92,753 | $1,118 | 12.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $283,287 | $3,413 | 39.1% | $298,160 | $3,592 | 40.2% | $313,725 | $3,780 | 41.0% | $313,597 | $3,778 | 41.2% | $313,107 | $3,772 | 42.1% | $321,014 | $3,868 | 40.2% | $311,466 | $3,753 | 40.7% | ||
Net Operating Income | $441,678 | $5,321 | 60.9% | $443,507 | $5,343 | 59.8% | $450,925 | $5,433 | 59.0% | $446,777 | $5,383 | 58.8% | $430,937 | $5,192 | 57.9% | $477,726 | $5,756 | 59.8% | $453,184 | $5,460 | 59.3% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $20,750 | $250 | $24,900 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $441,678 | $5,321 | 60.9% | $443,507 | $5,343 | 59.8% | $450,925 | $5,433 | 59.0% | $446,777 | $5,383 | 58.8% | $430,937 | $5,192 | 57.9% | $456,976 | $5,506 | 57.2% | $428,284 | $5,160 | 56.0% |
Annhurst | ||||||||||||||||||
Property ID: 6695 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6695bs1 | Studio | 8 | 2,304 | 288 | 8 | 100.0% | $4,747 | $593 | $2.06 | 0 | $600 | $2.08 | $0 | $4,747 | $593 | $2.06 | $56,964 |
One Bed One Bath Standard | 6695a11 | 1 BR | 59 | 33,984 | 576 | 58 | 98.3% | $40,743 | $702 | $1.22 | 1 | $715 | $1.24 | $715 | $41,458 | $703 | $1.22 | $497,496 |
Two Bed One Bath (2,1) | 6695a21 | 2 BR | 12 | 10,368 | 864 | 12 | 100.0% | $9,838 | $820 | $0.95 | 0 | $890 | $1.03 | $0 | $9,838 | $820 | $0.95 | $118,050 |
Two Bed Two Bath Master (2) | 6695a22 | 2 BR | 4 | 3,456 | 864 | 4 | 100.0% | $3,591 | $898 | $1.04 | 0 | $930 | $1.08 | $0 | $3,591 | $898 | $1.04 | $43,092 |
Totals | 83 | 50,112 | 604 | 82 | 98.8% | $58,919 | $719 | $1.19 | 1 | $740 | $1.22 | $715 | $59,634 | $718 | $1.19 | $715,602 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 8 | 2,304 | 288 | 8 | 100.0% | $4,747 | $593 | |||||||||||
1 BR | 59 | 33,984 | 576 | 58 | 98.3% | $41,458 | $703 | |||||||||||
2 BR | 16 | 13,824 | 864 | 16 | 100.0% | $13,429 | $839 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 83 | 50,112 | 604 | 82 | 98.8% | $59,634 | $718 |
Willow Run - New Albany | |||||||||||||||||||||||
Property ID: | 6657 | ||||||||||||||||||||||
# Units | 64 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $526,255 | $8,223 | 100.0% | $542,951 | $8,484 | 100.0% | $557,702 | $8,714 | 100.0% | $565,642 | $8,838 | 100.0% | $567,932 | $8,874 | 100.0% | $567,960 | $8,874 | 100.0% | $565,438 | $8,835 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($50,107) | ($783) | 9.5% | ($49,133) | ($768) | 9.0% | ($39,456) | ($617) | 7.1% | ($37,078) | ($579) | 6.6% | ($45,904) | ($717) | 8.1% | ($42,598) | ($666) | 7.5% | ($47,192) | ($737) | 8.3% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $476,148 | $7,440 | 90.5% | $493,818 | $7,716 | 91.0% | $518,246 | $8,098 | 92.9% | $528,564 | $8,259 | 93.4% | $522,028 | $8,157 | 91.9% | $525,362 | $8,209 | 92.5% | $518,246 | $8,098 | 91.7% | ||
RUBS / Utility Reimbursements | $36,295 | $567 | 6.5% | $40,155 | $627 | 6.8% | $41,408 | $647 | 6.7% | $41,834 | $654 | 6.6% | $42,468 | $664 | 6.9% | $41,472 | $648 | 6.8% | $41,408 | $647 | 6.7% | Based on T12 | |
Other Income | $47,952 | $749 | 8.6% | $53,934 | $843 | 9.2% | $54,115 | $846 | 8.8% | $60,832 | $951 | 9.6% | $51,420 | $803 | 8.3% | $45,312 | $708 | 7.4% | $54,115 | $846 | 8.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $560,395 | $8,756 | 100.0% | $587,907 | $9,186 | 100.0% | $613,769 | $9,590 | 100.0% | $631,230 | $9,863 | 100.0% | $615,916 | $9,624 | 100.0% | $612,146 | $9,565 | 100.0% | $613,769 | $9,590 | 100.0% | ||
Real Estate Taxes | $34,140 | $533 | 6.1% | $34,000 | $531 | 5.8% | $33,996 | $531 | 5.5% | $33,996 | $531 | 5.4% | $33,996 | $531 | 5.5% | $26,244 | $410 | 4.3% | $31,306 | $489 | 5.1% | Based on current tax bills | |
Insurance | $18,002 | $281 | 3.2% | $24,705 | $386 | 4.2% | $25,676 | $401 | 4.2% | $25,676 | $401 | 4.1% | $25,676 | $401 | 4.2% | $25,600 | $400 | 4.2% | $24,684 | $386 | 4.0% | Based on current insurance premium statements | |
Management Fee | $16,812 | $263 | 3.0% | $17,637 | $276 | 3.0% | $18,415 | $288 | 3.0% | $18,939 | $296 | 3.0% | $18,479 | $289 | 3.0% | $24,486 | $383 | 4.0% | $18,413 | $288 | 3.0% | Based on 3.0% management fee | |
Utilities | $17,016 | $266 | 3.0% | $15,856 | $248 | 2.7% | $15,589 | $244 | 2.5% | $15,589 | $244 | 2.5% | $15,589 | $244 | 2.5% | $13,120 | $205 | 2.1% | $15,589 | $244 | 2.5% | Based on T12 | |
Repairs & Maintenance | $25,828 | $404 | 4.6% | $25,156 | $393 | 4.3% | $25,836 | $404 | 4.2% | $25,836 | $404 | 4.1% | $25,836 | $404 | 4.2% | $41,728 | $652 | 6.8% | $25,836 | $404 | 4.2% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $8,171 | $128 | 1.5% | $9,033 | $141 | 1.5% | $8,082 | $126 | 1.3% | $8,082 | $126 | 1.3% | $8,082 | $126 | 1.3% | $17,600 | $275 | 2.9% | $8,082 | $126 | 1.3% | Based on T12 | |
Payroll & Benefits | $100,169 | $1,565 | 17.9% | $97,374 | $1,521 | 16.6% | $95,600 | $1,494 | 15.6% | $95,600 | $1,494 | 15.1% | $95,600 | $1,494 | 15.5% | $89,600 | $1,400 | 14.6% | $95,600 | $1,494 | 15.6% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $220,138 | $3,440 | 39.3% | $223,761 | $3,496 | 38.1% | $223,194 | $3,487 | 36.4% | $223,718 | $3,496 | 35.4% | $223,258 | $3,488 | 36.2% | $238,378 | $3,725 | 38.9% | $219,510 | $3,430 | 35.8% | ||
Net Operating Income | $340,257 | $5,317 | 60.7% | $364,146 | $5,690 | 61.9% | $390,575 | $6,103 | 63.6% | $407,512 | $6,367 | 64.6% | $392,658 | $6,135 | 63.8% | $373,768 | $5,840 | 61.1% | $394,259 | $6,160 | 64.2% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $16,000 | $250 | $19,200 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $340,257 | $5,317 | 60.7% | $364,146 | $5,690 | 61.9% | $390,575 | $6,103 | 63.6% | $407,512 | $6,367 | 64.6% | $392,658 | $6,135 | 63.8% | $357,768 | $5,590 | 58.4% | $375,059 | $5,860 | 61.1% |
Willow Run - New Albany | ||||||||||||||||||
Property ID: 6657 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6657bs1 | Studio | 5 | 1,440 | 288 | 5 | 100.0% | $3,128 | $626 | $2.17 | 0 | $625 | $2.17 | $0 | $3,128 | $626 | $2.17 | $37,536 |
One Bed One Bath Standard | 6657a11 | 1 BR | 46 | 26,496 | 576 | 44 | 95.7% | $31,724 | $721 | $1.25 | 2 | $725 | $1.26 | $1,450 | $33,174 | $721 | $1.25 | $398,086 |
Two Bed One Bath (2,1) | 6657a21 | 2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $7,500 | $833 | $0.96 | 1 | $835 | $0.97 | $835 | $8,335 | $834 | $0.96 | $100,020 |
Two Bed Two Bath Master (2) | 6657a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,483 | $828 | $0.96 | 0 | $835 | $0.97 | $0 | $2,483 | $828 | $0.96 | $29,796 |
Totals | 64 | 39,168 | 612 | 61 | 95.3% | $44,835 | $735 | $1.20 | 3 | $740 | $1.21 | $2,285 | $47,120 | $736 | $1.20 | $565,438 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 5 | 1,440 | 288 | 5 | 100.0% | $3,128 | $626 | |||||||||||
1 BR | 46 | 26,496 | 576 | 44 | 95.7% | $33,174 | $721 | |||||||||||
2 BR | 13 | 11,232 | 864 | 12 | 92.3% | $10,818 | $832 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 64 | 39,168 | 612 | 61 | 95.3% | $47,120 | $736 |
Stonehenge | |||||||||||||||||||||||
Property ID: | 6651 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $501,773 | $8,363 | 100.0% | $521,900 | $8,698 | 100.0% | $530,161 | $8,836 | 100.0% | $535,170 | $8,920 | 100.0% | $540,356 | $9,006 | 100.0% | $555,120 | $9,252 | 100.0% | $537,276 | $8,955 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($48,332) | ($806) | 9.6% | ($37,204) | ($620) | 7.1% | ($35,206) | ($587) | 6.6% | ($28,440) | ($474) | 5.3% | ($38,876) | ($648) | 7.2% | ($33,307) | ($555) | 6.0% | ($42,321) | ($705) | 7.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $453,441 | $7,557 | 90.4% | $484,696 | $8,078 | 92.9% | $494,955 | $8,249 | 93.4% | $506,730 | $8,446 | 94.7% | $501,480 | $8,358 | 92.8% | $521,813 | $8,697 | 94.0% | $494,955 | $8,249 | 92.1% | ||
RUBS / Utility Reimbursements | $36,264 | $604 | 6.9% | $40,670 | $678 | 7.2% | $41,777 | $696 | 7.2% | $42,716 | $712 | 7.2% | $42,940 | $716 | 7.3% | $42,000 | $700 | 7.0% | $41,777 | $696 | 7.2% | Based on T12 | |
Other Income | $35,547 | $592 | 6.8% | $41,367 | $689 | 7.3% | $39,541 | $659 | 6.9% | $45,624 | $760 | 7.7% | $46,752 | $779 | 7.9% | $33,000 | $550 | 5.5% | $39,541 | $659 | 6.9% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $525,252 | $8,754 | 100.0% | $566,733 | $9,446 | 100.0% | $576,273 | $9,605 | 100.0% | $595,070 | $9,918 | 100.0% | $591,172 | $9,853 | 100.0% | $596,813 | $9,947 | 100.0% | $576,273 | $9,605 | 100.0% | ||
Real Estate Taxes | $23,445 | $391 | 4.5% | $24,000 | $400 | 4.2% | $24,000 | $400 | 4.2% | $24,000 | $400 | 4.0% | $24,000 | $400 | 4.1% | $22,592 | $377 | 3.8% | $25,599 | $427 | 4.4% | Based on current tax bills | |
Insurance | $16,730 | $279 | 3.2% | $22,831 | $381 | 4.0% | $23,563 | $393 | 4.1% | $23,563 | $393 | 4.0% | $23,563 | $393 | 4.0% | $23,500 | $392 | 3.9% | $22,800 | $380 | 4.0% | Based on current insurance premium statements | |
Management Fee | $15,758 | $263 | 3.0% | $17,002 | $283 | 3.0% | $17,290 | $288 | 3.0% | $17,854 | $298 | 3.0% | $17,737 | $296 | 3.0% | $17,904 | $298 | 3.0% | $17,288 | $288 | 3.0% | Based on 3.0% management fee | |
Utilities | $42,857 | $714 | 8.2% | $41,401 | $690 | 7.3% | $47,531 | $792 | 8.2% | $47,531 | $792 | 8.0% | $47,531 | $792 | 8.0% | $48,500 | $808 | 8.1% | $47,531 | $792 | 8.2% | Based on T12 | |
Repairs & Maintenance | $30,970 | $516 | 5.9% | $27,463 | $458 | 4.8% | $29,048 | $484 | 5.0% | $29,048 | $484 | 4.9% | $29,048 | $484 | 4.9% | $38,250 | $638 | 6.4% | $29,048 | $484 | 5.0% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $6,079 | $101 | 1.2% | $5,354 | $89 | 0.9% | $6,995 | $117 | 1.2% | $6,995 | $117 | 1.2% | $6,995 | $117 | 1.2% | $13,500 | $225 | 2.3% | $6,995 | $117 | 1.2% | Based on T12 | |
Payroll & Benefits | $98,111 | $1,635 | 18.7% | $96,081 | $1,601 | 17.0% | $85,634 | $1,427 | 14.9% | $85,634 | $1,427 | 14.4% | $85,634 | $1,427 | 14.5% | $69,000 | $1,150 | 11.6% | $85,634 | $1,427 | 14.9% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $233,950 | $3,899 | 44.5% | $234,132 | $3,902 | 41.3% | $234,061 | $3,901 | 40.6% | $234,625 | $3,910 | 39.4% | $234,508 | $3,908 | 39.7% | $233,246 | $3,887 | 39.1% | $234,895 | $3,915 | 40.8% | ||
Net Operating Income | $291,302 | $4,855 | 55.5% | $332,601 | $5,543 | 58.7% | $342,212 | $5,704 | 59.4% | $360,445 | $6,007 | 60.6% | $356,664 | $5,944 | 60.3% | $363,567 | $6,059 | 60.9% | $341,378 | $5,690 | 59.2% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $291,302 | $4,855 | 55.5% | $332,601 | $5,543 | 58.7% | $342,212 | $5,704 | 59.4% | $360,445 | $6,007 | 60.6% | $356,664 | $5,944 | 60.3% | $348,567 | $5,809 | 58.4% | $323,378 | $5,390 | 56.1% |
Stonehenge | ||||||||||||||||||
Property ID: 6651 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6651bs1 | Studio | 6 | 1,728 | 288 | 5 | 83.3% | $3,091 | $618 | $2.15 | 1 | $660 | $2.29 | $660 | $3,751 | $625 | $2.17 | $45,012 |
One Bed One Bath Standard | 6651a11 | 1 BR | 40 | 23,040 | 576 | 39 | 97.5% | $28,155 | $722 | $1.25 | 1 | $740 | $1.28 | $740 | $28,895 | $722 | $1.25 | $346,740 |
One Bed One Bath Barrier F | 6651c11 | 1 BR | 2 | 1,152 | 576 | 2 | 100.0% | $1,451 | $726 | $1.26 | 0 | $740 | $1.28 | $0 | $1,451 | $726 | $1.26 | $17,412 |
Two Bed One Bath (2,1) | 6651a21 | 2 BR | 9 | 7,776 | 864 | 9 | 100.0% | $7,863 | $874 | $1.01 | 0 | $930 | $1.08 | $0 | $7,863 | $874 | $1.01 | $94,356 |
Two Bed Two Bath Master (2) | 6651a22 | 2 BR | 3 | 2,592 | 864 | 2 | 66.7% | $1,863 | $932 | $1.08 | 1 | $950 | $1.10 | $950 | $2,813 | $938 | $1.09 | $33,756 |
Totals | 60 | 36,288 | 605 | 57 | 95.0% | $42,423 | $744 | $1.23 | 3 | $771 | $1.27 | $2,350 | $44,773 | $746 | $1.23 | $537,276 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 5 | 83.3% | $3,751 | $625 | |||||||||||
1 BR | 42 | 24,192 | 576 | 41 | 97.6% | $30,346 | $723 | |||||||||||
2 BR | 12 | 10,368 | 864 | 11 | 91.7% | $10,676 | $890 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 57 | 95.0% | $44,773 | $746 |
Applegate | |||||||||||||||||||||||
Property ID: | 6550 | ||||||||||||||||||||||
# Units | 58 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $513,653 | $8,856 | 100.0% | $532,959 | $9,189 | 100.0% | $542,842 | $9,359 | 100.0% | $545,256 | $9,401 | 100.0% | $547,212 | $9,435 | 100.0% | $543,180 | $9,365 | 100.0% | $541,944 | $9,344 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($105,113) | ($1,812) | 20.5% | ($54,796) | ($945) | 10.3% | ($61,712) | ($1,064) | 11.4% | ($58,426) | ($1,007) | 10.7% | ($59,796) | ($1,031) | 10.9% | ($42,097) | ($726) | 7.8% | ($60,814) | ($1,049) | 11.2% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $408,540 | $7,044 | 79.5% | $478,163 | $8,244 | 89.7% | $481,130 | $8,295 | 88.6% | $486,830 | $8,394 | 89.3% | $487,416 | $8,404 | 89.1% | $501,083 | $8,639 | 92.2% | $481,130 | $8,295 | 88.8% | ||
RUBS / Utility Reimbursements | $33,709 | $581 | 6.8% | $38,881 | $670 | 6.8% | $39,977 | $689 | 6.8% | $40,508 | $698 | 6.8% | $40,960 | $706 | 6.9% | $38,280 | $660 | 6.5% | $39,977 | $689 | 6.8% | Based on T12 | |
Other Income | $51,188 | $883 | 10.4% | $51,175 | $882 | 9.0% | $62,591 | $1,079 | 10.7% | $69,394 | $1,196 | 11.6% | $68,116 | $1,174 | 11.4% | $45,240 | $780 | 7.7% | $62,591 | $1,079 | 10.7% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $493,437 | $8,508 | 100.0% | $568,219 | $9,797 | 100.0% | $583,698 | $10,064 | 100.0% | $596,732 | $10,288 | 100.0% | $596,492 | $10,284 | 100.0% | $584,603 | $10,079 | 100.0% | $583,698 | $10,064 | 100.0% | ||
Real Estate Taxes | $33,000 | $569 | 6.7% | $33,000 | $569 | 5.8% | $33,000 | $569 | 5.7% | $33,000 | $569 | 5.5% | $33,000 | $569 | 5.5% | $36,173 | $624 | 6.2% | $36,045 | $621 | 6.2% | Based on current tax bills | |
Insurance | $16,079 | $277 | 3.3% | $22,002 | $379 | 3.9% | $22,806 | $393 | 3.9% | $22,806 | $393 | 3.8% | $22,806 | $393 | 3.8% | $22,910 | $395 | 3.9% | $21,916 | $378 | 3.8% | Based on current insurance premium statements | |
Management Fee | $14,803 | $255 | 3.0% | $17,047 | $294 | 3.0% | $17,510 | $302 | 3.0% | $17,901 | $309 | 3.0% | $17,894 | $309 | 3.0% | $23,384 | $403 | 4.0% | $17,511 | $302 | 3.0% | Based on 3.0% management fee | |
Utilities | $19,095 | $329 | 3.9% | $20,241 | $349 | 3.6% | $24,812 | $428 | 4.3% | $24,812 | $428 | 4.2% | $24,812 | $428 | 4.2% | $22,620 | $390 | 3.9% | $24,812 | $428 | 4.3% | Based on T12 | |
Repairs & Maintenance | $47,162 | $813 | 9.6% | $38,860 | $670 | 6.8% | $43,997 | $759 | 7.5% | $43,997 | $759 | 7.4% | $43,997 | $759 | 7.4% | $40,310 | $695 | 6.9% | $43,997 | $759 | 7.5% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $13,202 | $228 | 2.7% | $11,834 | $204 | 2.1% | $13,954 | $241 | 2.4% | $13,954 | $241 | 2.3% | $13,954 | $241 | 2.3% | $15,950 | $275 | 2.7% | $13,954 | $241 | 2.4% | Based on T12 | |
Payroll & Benefits | $78,687 | $1,357 | 15.9% | $79,259 | $1,367 | 13.9% | $81,762 | $1,410 | 14.0% | $81,762 | $1,410 | 13.7% | $81,762 | $1,410 | 13.7% | $81,200 | $1,400 | 13.9% | $81,762 | $1,410 | 14.0% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $222,028 | $3,828 | 45.0% | $222,243 | $3,832 | 39.1% | $237,841 | $4,101 | 40.7% | $238,232 | $4,107 | 39.9% | $238,225 | $4,107 | 39.9% | $242,547 | $4,182 | 41.5% | $239,997 | $4,138 | 41.1% | ||
Net Operating Income | $271,409 | $4,679 | 55.0% | $345,976 | $5,965 | 60.9% | $345,857 | $5,963 | 59.3% | $358,500 | $6,181 | 60.1% | $358,267 | $6,177 | 60.1% | $342,056 | $5,898 | 58.5% | $343,701 | $5,926 | 58.9% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $14,500 | $250 | $17,400 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $271,409 | $4,679 | 55.0% | $345,976 | $5,965 | 60.9% | $345,857 | $5,963 | 59.3% | $358,500 | $6,181 | 60.1% | $358,267 | $6,177 | 60.1% | $327,556 | $5,648 | 56.0% | $326,301 | $5,626 | 55.9% |
Applegate | ||||||||||||||||||
Property ID: 6550 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Standard (0,1) | 6550as1 | Studio | 7 | 2,016 | 288 | 5 | 71.4% | $3,390 | $678 | $2.35 | 2 | $670 | $2.33 | $1,340 | $4,730 | $676 | $2.35 | $56,760 |
One Bed One Bath Standard | 6550a11 | 1 BR | 36 | 20,736 | 576 | 36 | 100.0% | $27,491 | $764 | $1.33 | 0 | $770 | $1.34 | $0 | $27,491 | $764 | $1.33 | $329,892 |
One Bed One Bath Barrier F | 6550c11 | 1 BR | 3 | 1,728 | 576 | 3 | 100.0% | $2,422 | $807 | $1.40 | 0 | $815 | $1.41 | $0 | $2,422 | $807 | $1.40 | $29,064 |
Two Bed One Bath (2,1) | 6550a21 | 2 BR | 6 | 5,184 | 864 | 5 | 83.3% | $4,470 | $894 | $1.03 | 1 | $865 | $1.00 | $865 | $5,335 | $889 | $1.03 | $64,020 |
Two Bed Two Bath Gallery Ki | 6550b22 | 2 BR | 6 | 5,184 | 864 | 5 | 83.3% | $4,314 | $863 | $1.00 | 1 | $870 | $1.01 | $870 | $5,184 | $864 | $1.00 | $62,208 |
Totals | 58 | 34,848 | 601 | 54 | 93.1% | $42,087 | $779 | $1.30 | 4 | $780 | $1.30 | $3,075 | $45,162 | $779 | $1.30 | $541,944 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 7 | 2,016 | 288 | 5 | 71.4% | $4,730 | $676 | |||||||||||
1 BR | 39 | 22,464 | 576 | 39 | 100.0% | $29,913 | $767 | |||||||||||
2 BR | 12 | 10,368 | 864 | 10 | 83.3% | $10,519 | $877 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 58 | 34,848 | 601 | 54 | 93.1% | $45,162 | $779 |
Spicewood | |||||||||||||||||||||||
Property ID: | 6786 | ||||||||||||||||||||||
# Units | 49 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $369,660 | $7,544 | 100.0% | $386,990 | $7,898 | 100.0% | $397,817 | $8,119 | 100.0% | $397,622 | $8,115 | 100.0% | $399,492 | $8,153 | 100.0% | $402,840 | $8,221 | 100.0% | $397,728 | $8,117 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($41,266) | ($842) | 11.2% | ($36,533) | ($746) | 9.4% | ($39,622) | ($809) | 10.0% | ($28,464) | ($581) | 7.2% | ($22,724) | ($464) | 5.7% | ($24,170) | ($493) | 6.0% | ($39,533) | ($807) | 9.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $328,394 | $6,702 | 88.8% | $350,457 | $7,152 | 90.6% | $358,195 | $7,310 | 90.0% | $369,158 | $7,534 | 92.8% | $376,768 | $7,689 | 94.3% | $378,670 | $7,728 | 94.0% | $358,195 | $7,310 | 90.1% | ||
RUBS / Utility Reimbursements | $24,178 | $493 | 6.3% | $28,543 | $583 | 6.8% | $29,007 | $592 | 6.8% | $29,584 | $604 | 6.7% | $29,900 | $610 | 6.7% | $29,000 | $592 | 6.6% | $29,007 | $592 | 6.8% | Based on T12 | |
Other Income | $33,043 | $674 | 8.6% | $40,467 | $826 | 9.6% | $40,389 | $824 | 9.4% | $43,378 | $885 | 9.8% | $41,608 | $849 | 9.3% | $29,000 | $592 | 6.6% | $40,389 | $824 | 9.4% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $385,615 | $7,870 | 100.0% | $419,467 | $8,561 | 100.0% | $427,591 | $8,726 | 100.0% | $442,120 | $9,023 | 100.0% | $448,276 | $9,148 | 100.0% | $436,670 | $8,912 | 100.0% | $427,591 | $8,726 | 100.0% | ||
Real Estate Taxes | $22,000 | $449 | 5.7% | $22,000 | $449 | 5.2% | $21,996 | $449 | 5.1% | $21,996 | $449 | 5.0% | $21,996 | $449 | 4.9% | $22,267 | $454 | 5.1% | $22,276 | $455 | 5.2% | Based on current tax bills | |
Insurance | $12,690 | $259 | 3.3% | $17,448 | $356 | 4.2% | $17,945 | $366 | 4.2% | $17,945 | $366 | 4.1% | $17,945 | $366 | 4.0% | $18,000 | $367 | 4.1% | $17,135 | $350 | 4.0% | Based on current insurance premium statements | |
Management Fee | $11,569 | $236 | 3.0% | $12,584 | $257 | 3.0% | $12,828 | $262 | 3.0% | $13,264 | $271 | 3.0% | $13,449 | $274 | 3.0% | $13,100 | $267 | 3.0% | $12,828 | $262 | 3.0% | Based on 3.0% management fee | |
Utilities | $31,752 | $648 | 8.2% | $29,079 | $593 | 6.9% | $32,926 | $672 | 7.7% | $32,926 | $672 | 7.4% | $32,926 | $672 | 7.3% | $36,500 | $745 | 8.4% | $32,926 | $672 | 7.7% | Based on T12 | |
Repairs & Maintenance | $26,062 | $532 | 6.8% | $24,520 | $500 | 5.8% | $29,490 | $602 | 6.9% | $29,490 | $602 | 6.7% | $29,490 | $602 | 6.6% | $32,200 | $657 | 7.4% | $29,490 | $602 | 6.9% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $8,436 | $172 | 2.2% | $6,447 | $132 | 1.5% | $7,076 | $144 | 1.7% | $7,076 | $144 | 1.6% | $7,076 | $144 | 1.6% | $8,575 | $175 | 2.0% | $7,076 | $144 | 1.7% | Based on T12 | |
Payroll & Benefits | $58,015 | $1,184 | 15.0% | $58,307 | $1,190 | 13.9% | $62,657 | $1,279 | 14.7% | $62,657 | $1,279 | 14.2% | $62,657 | $1,279 | 14.0% | $56,350 | $1,150 | 12.9% | $62,657 | $1,279 | 14.7% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $170,524 | $3,480 | 44.2% | $170,385 | $3,477 | 40.6% | $184,918 | $3,774 | 43.2% | $185,354 | $3,783 | 41.9% | $185,539 | $3,787 | 41.4% | $186,992 | $3,816 | 42.8% | $184,388 | $3,763 | 43.1% | ||
Net Operating Income | $215,091 | $4,390 | 55.8% | $249,082 | $5,083 | 59.4% | $242,673 | $4,953 | 56.8% | $256,766 | $5,240 | 58.1% | $262,737 | $5,362 | 58.6% | $249,678 | $5,095 | 57.2% | $243,203 | $4,963 | 56.9% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $12,250 | $250 | $14,700 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $215,091 | $4,390 | 55.8% | $249,082 | $5,083 | 59.4% | $242,673 | $4,953 | 56.8% | $256,766 | $5,240 | 58.1% | $262,737 | $5,362 | 58.6% | $237,428 | $4,845 | 54.4% | $228,503 | $4,663 | 53.4% |
Spicewood | ||||||||||||||||||
Property ID: 6786 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 6786bs1 | Studio | 14 | 4,032 | 288 | 13 | 92.9% | $7,627 | $587 | $2.04 | 1 | $595 | $2.07 | $595 | $8,222 | $587 | $2.04 | $98,664 |
One Bed One Bath Standard | 6786a11 | 1 BR | 30 | 17,280 | 576 | 30 | 100.0% | $20,727 | $691 | $1.20 | 0 | $705 | $1.22 | $0 | $20,727 | $691 | $1.20 | $248,724 |
One Bed One Bath Barrier F | 6786c11 | 1 BR | 2 | 1,152 | 576 | 2 | 100.0% | $1,458 | $729 | $1.27 | 0 | $705 | $1.22 | $0 | $1,458 | $729 | $1.27 | $17,496 |
Two Bed Two Bath Master | 6786a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,758 | $879 | $1.02 | 0 | $890 | $1.03 | $0 | $1,758 | $879 | $1.02 | $21,096 |
Three Bed One Bath (3,1) | 6786a31 | 3 BR | 1 | 1,152 | 1152 | 1 | 100.0% | $979 | $979 | $0.85 | 0 | $900 | $0.78 | $0 | $979 | $979 | $0.85 | $11,748 |
Totals | 49 | 25,344 | 517 | 48 | 98.0% | $32,549 | $678 | $1.31 | 1 | $685 | $1.32 | $595 | $33,144 | $676 | $1.31 | $397,728 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 14 | 4,032 | 288 | 13 | 92.9% | $8,222 | $587 | |||||||||||
1 BR | 32 | 18,432 | 576 | 32 | 100.0% | $22,185 | $693 | |||||||||||
2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,758 | $879 | |||||||||||
3 BR | 1 | 1,152 | 1,152 | 1 | 100.0% | $979 | $979 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 49 | 25,344 | 517 | 48 | 98.0% | $33,144 | $676 |
Indian Lake I | |||||||||||||||||||||||
Property ID: | 8209 | ||||||||||||||||||||||
# Units | 243 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $2,007,810 | $8,263 | 100.0% | $2,086,798 | $8,588 | 100.0% | $2,151,436 | $8,854 | 100.0% | $2,171,600 | $8,937 | 100.0% | $2,173,580 | $8,945 | 100.0% | $2,177,556 | $8,961 | 100.0% | $2,183,244 | $8,985 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($320,822) | ($1,320) | 16.0% | ($303,735) | ($1,250) | 14.6% | ($358,530) | ($1,475) | 16.7% | ($407,786) | ($1,678) | 18.8% | ($480,740) | ($1,978) | 22.1% | ($156,728) | ($645) | 7.2% | ($390,338) | ($1,606) | 17.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $1,686,988 | $6,942 | 84.0% | $1,783,063 | $7,338 | 85.4% | $1,792,906 | $7,378 | 83.3% | $1,763,814 | $7,258 | 81.2% | $1,692,840 | $6,966 | 77.9% | $2,020,828 | $8,316 | 92.8% | $1,792,906 | $7,378 | 82.1% | ||
RUBS / Utility Reimbursements | $136,314 | $561 | 6.8% | $137,369 | $565 | 6.6% | $137,325 | $565 | 6.5% | $136,934 | $564 | 6.6% | $135,956 | $559 | 6.9% | $137,295 | $565 | 5.9% | $137,325 | $565 | 6.5% | Based on T12 | |
Other Income | $185,949 | $765 | 9.3% | $161,438 | $664 | 7.8% | $169,999 | $700 | 8.1% | $161,258 | $664 | 7.8% | $153,240 | $631 | 7.7% | $166,455 | $685 | 7.2% | $169,999 | $700 | 8.1% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $2,009,251 | $8,269 | 100.0% | $2,081,870 | $8,567 | 100.0% | $2,100,230 | $8,643 | 100.0% | $2,062,006 | $8,486 | 100.0% | $1,982,036 | $8,157 | 100.0% | $2,324,578 | $9,566 | 100.0% | $2,100,230 | $8,643 | 100.0% | ||
Real Estate Taxes | $68,048 | $280 | 3.4% | $119,000 | $490 | 5.7% | $119,004 | $490 | 5.7% | $119,004 | $490 | 5.8% | $119,004 | $490 | 6.0% | $166,759 | $686 | 7.2% | $161,902 | $666 | 7.7% | Based on current tax bills | |
Insurance | $66,023 | $272 | 3.3% | $91,005 | $375 | 4.4% | $94,435 | $389 | 4.5% | $94,435 | $389 | 4.6% | $94,435 | $389 | 4.8% | $94,854 | $390 | 4.1% | $90,548 | $373 | 4.3% | Based on current insurance premium statements | |
Management Fee | $60,278 | $248 | 3.0% | $62,456 | $257 | 3.0% | $63,004 | $259 | 3.0% | $61,857 | $255 | 3.0% | $59,458 | $245 | 3.0% | $69,737 | $287 | 3.0% | $63,007 | $259 | 3.0% | Based on 3.0% management fee | |
Utilities | $272,840 | $1,123 | 13.6% | $286,253 | $1,178 | 13.7% | $291,262 | $1,199 | 13.9% | $291,262 | $1,199 | 14.1% | $291,262 | $1,199 | 14.7% | $309,825 | $1,275 | 13.3% | $291,262 | $1,199 | 13.9% | Based on T12 | |
Repairs & Maintenance | $83,015 | $342 | 4.1% | $91,514 | $377 | 4.4% | $110,362 | $454 | 5.3% | $110,362 | $454 | 5.4% | $110,362 | $454 | 5.6% | $108,135 | $445 | 4.7% | $110,362 | $454 | 5.3% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $50,212 | $207 | 2.5% | $39,279 | $162 | 1.9% | $37,486 | $154 | 1.8% | $37,486 | $154 | 1.8% | $37,486 | $154 | 1.9% | $35,235 | $145 | 1.5% | $37,486 | $154 | 1.8% | Based on T12 | |
Payroll & Benefits | $286,148 | $1,178 | 14.2% | $263,419 | $1,084 | 12.7% | $269,130 | $1,108 | 12.8% | $269,130 | $1,108 | 13.1% | $269,130 | $1,108 | 13.6% | $263,655 | $1,085 | 11.3% | $269,130 | $1,108 | 12.8% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $886,564 | $3,648 | 44.1% | $952,926 | $3,922 | 45.8% | $984,683 | $4,052 | 46.9% | $983,536 | $4,047 | 47.7% | $981,137 | $4,038 | 49.5% | $1,048,200 | $4,314 | 45.1% | $1,023,697 | $4,213 | 48.7% | ||
Net Operating Income | $1,122,687 | $4,620 | 55.9% | $1,128,944 | $4,646 | 54.2% | $1,115,547 | $4,591 | 53.1% | $1,078,470 | $4,438 | 52.3% | $1,000,899 | $4,119 | 50.5% | $1,276,378 | $5,253 | 54.9% | $1,076,533 | $4,430 | 51.3% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $60,750 | $250 | $72,900 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $1,122,687 | $4,620 | 55.9% | $1,128,944 | $4,646 | 54.2% | $1,115,547 | $4,591 | 53.1% | $1,078,470 | $4,438 | 52.3% | $1,000,899 | $4,119 | 50.5% | $1,215,628 | $5,003 | 52.3% | $1,003,633 | $4,130 | 47.8% |
Indian Lake I | ||||||||||||||||||
Property ID: 8209 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
One Bed One Bath Standard | 8209a11 | 1 BR | 218 | 125,568 | 576 | 199 | 91.3% | $146,312 | $735 | $1.28 | 19 | $800 | $1.39 | $15,200 | $161,512 | $741 | $1.29 | $1,938,144 |
One Bed One Bath Barrier F | 8209c11 | 1 BR | 11 | 6,336 | 576 | 9 | 81.8% | $6,543 | $727 | $1.26 | 2 | $800 | $1.39 | $1,600 | $8,143 | $740 | $1.29 | $97,716 |
Two Bed One Bath (2,1) | 8209a21 | 2 BR | 3 | 2,592 | 864 | 2 | 66.7% | $1,762 | $881 | $1.02 | 1 | $900 | $1.04 | $900 | $2,662 | $887 | $1.03 | $31,944 |
Two Bed Two Bath Master | 8209a22 | 2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $7,755 | $862 | $1.00 | 1 | $925 | $1.07 | $925 | $8,680 | $868 | $1.00 | $104,160 |
Three Bed One Bath (3,1) | 8209a31 | 3 BR | 1 | 864 | 864 | 1 | 100.0% | $940 | $940 | $1.09 | 0 | $950 | $1.10 | $0 | $940 | $940 | $1.09 | $11,280 |
Totals | 243 | 144,000 | 593 | 220 | 90.5% | $163,312 | $742 | $1.25 | 23 | $807 | $1.36 | $18,625 | $181,937 | $749 | $1.26 | $2,183,244 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
1 BR | 229 | 131,904 | 576 | 208 | 90.8% | $169,655 | $741 | |||||||||||
2 BR | 13 | 11,232 | 864 | 11 | 84.6% | $11,342 | $872 | |||||||||||
3 BR | 1 | 864 | 864 | 1 | 100.0% | $940 | $940 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 243 | 144,000 | 593 | 220 | 90.5% | $181,937 | $749 |
Stewart Way 1 | |||||||||||||||||||||||
Property ID: | 8486 | ||||||||||||||||||||||
# Units | 190 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $1,675,767 | $8,820 | 100.0% | $1,705,314 | $8,975 | 100.0% | $1,722,187 | $9,064 | 100.0% | $1,730,782 | $9,109 | 100.0% | $1,739,572 | $9,156 | 100.0% | $1,841,802 | $9,694 | 100.0% | $1,755,635 | $9,240 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($283,360) | ($1,491) | 16.9% | ($418,203) | ($2,201) | 24.5% | ($360,723) | ($1,899) | 20.9% | ($281,770) | ($1,483) | 16.3% | ($252,244) | ($1,328) | 14.5% | ($135,060) | ($711) | 7.3% | ($394,171) | ($2,075) | 22.5% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $1,392,407 | $7,328 | 83.1% | $1,287,111 | $6,774 | 75.5% | $1,361,464 | $7,166 | 79.1% | $1,449,012 | $7,626 | 83.7% | $1,487,328 | $7,828 | 85.5% | $1,706,742 | $8,983 | 92.7% | $1,361,464 | $7,166 | 77.5% | ||
RUBS / Utility Reimbursements | $145,585 | $766 | 8.5% | $144,057 | $758 | 9.1% | $133,580 | $703 | 8.0% | $123,920 | $652 | 6.9% | $118,740 | $625 | 6.6% | $138,700 | $730 | 6.9% | $133,580 | $703 | 8.0% | Based on T12 | |
Other Income | $173,555 | $913 | 10.1% | $151,216 | $796 | 9.6% | $184,217 | $970 | 11.0% | $211,098 | $1,111 | 11.8% | $200,716 | $1,056 | 11.1% | $168,150 | $885 | 8.4% | $184,217 | $970 | 11.0% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $1,711,547 | $9,008 | 100.0% | $1,582,384 | $8,328 | 100.0% | $1,679,261 | $8,838 | 100.0% | $1,784,030 | $9,390 | 100.0% | $1,806,784 | $9,509 | 100.0% | $2,013,592 | $10,598 | 100.0% | $1,679,261 | $8,838 | 100.0% | ||
Real Estate Taxes | $64,000 | $337 | 3.7% | $64,000 | $337 | 4.0% | $63,996 | $337 | 3.8% | $63,996 | $337 | 3.6% | $63,996 | $337 | 3.5% | $62,836 | $331 | 3.1% | $61,006 | $321 | 3.6% | Based on current tax bills | |
Insurance | $51,162 | $269 | 3.0% | $70,223 | $370 | 4.4% | $72,307 | $381 | 4.3% | $72,307 | $381 | 4.1% | $72,307 | $381 | 4.0% | $72,081 | $379 | 3.6% | $69,276 | $365 | 4.1% | Based on current insurance premium statements | |
Management Fee | $51,346 | $270 | 3.0% | $47,472 | $250 | 3.0% | $50,379 | $265 | 3.0% | $53,522 | $282 | 3.0% | $54,205 | $285 | 3.0% | $60,408 | $318 | 3.0% | $50,378 | $265 | 3.0% | Based on 3.0% management fee | |
Utilities | $154,894 | $815 | 9.0% | $155,650 | $819 | 9.8% | $151,508 | $797 | 9.0% | $151,508 | $797 | 8.5% | $151,508 | $797 | 8.4% | $155,800 | $820 | 7.7% | $151,508 | $797 | 9.0% | Based on T12 | |
Repairs & Maintenance | $91,792 | $483 | 5.4% | $85,093 | $448 | 5.4% | $80,279 | $423 | 4.8% | $80,279 | $423 | 4.5% | $80,279 | $423 | 4.4% | $97,850 | $515 | 4.9% | $80,279 | $423 | 4.8% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $33,034 | $174 | 1.9% | $24,570 | $129 | 1.6% | $24,689 | $130 | 1.5% | $24,689 | $130 | 1.4% | $24,689 | $130 | 1.4% | $28,500 | $150 | 1.4% | $24,689 | $130 | 1.5% | Based on T12 | |
Payroll & Benefits | $231,468 | $1,218 | 13.5% | $267,853 | $1,410 | 16.9% | $268,882 | $1,415 | 16.0% | $268,882 | $1,415 | 15.1% | $268,882 | $1,415 | 14.9% | $271,700 | $1,430 | 13.5% | $268,882 | $1,415 | 16.0% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $677,696 | $3,567 | 39.6% | $714,861 | $3,762 | 45.2% | $712,040 | $3,748 | 42.4% | $715,183 | $3,764 | 40.1% | $715,866 | $3,768 | 39.6% | $749,175 | $3,943 | 37.2% | $706,017 | $3,716 | 42.0% | ||
Net Operating Income | $1,033,851 | $5,441 | 60.4% | $867,523 | $4,566 | 54.8% | $967,221 | $5,091 | 57.6% | $1,068,847 | $5,626 | 59.9% | $1,090,918 | $5,742 | 60.4% | $1,264,417 | $6,655 | 62.8% | $973,244 | $5,122 | 58.0% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $47,500 | $250 | $57,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $1,033,851 | $5,441 | 60.4% | $867,523 | $4,566 | 54.8% | $967,221 | $5,091 | 57.6% | $1,068,847 | $5,626 | 59.9% | $1,090,918 | $5,742 | 60.4% | $1,216,917 | $6,405 | 60.4% | $916,244 | $4,822 | 54.6% |
Stewart Way 1 | ||||||||||||||||||
Property ID: 8486 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8486bs1 | Studio | 36 | 10,368 | 288 | 30 | 83.3% | $19,548 | $652 | $2.26 | 6 | $710 | $2.47 | $4,260 | $23,808 | $661 | $2.30 | $285,696 |
One Bed One Bath Standard | 8486a11 | 1 BR | 129 | 74,304 | 576 | 118 | 91.5% | $90,975 | $771 | $1.34 | 11 | $815 | $1.41 | $8,965 | $99,940 | $775 | $1.35 | $1,199,279 |
Two Bed One Bath (2,1) | 8486a21 | 2 BR | 8 | 6,912 | 864 | 7 | 87.5% | $6,195 | $885 | $1.02 | 1 | $925 | $1.07 | $925 | $7,120 | $890 | $1.03 | $85,440 |
Two Bed Two Bath Master | 8486a22 | 2 BR | 17 | 14,688 | 864 | 17 | 100.0% | $15,435 | $908 | $1.05 | 0 | $950 | $1.10 | $0 | $15,435 | $908 | $1.05 | $185,220 |
Totals | 190 | 106,272 | 559 | 172 | 90.5% | $132,153 | $768 | $1.37 | 18 | $812 | $1.45 | $14,150 | $146,303 | $770 | $1.38 | $1,755,635 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 36 | 10,368 | 288 | 30 | 83.3% | $23,808 | $661 | |||||||||||
1 BR | 129 | 74,304 | 576 | 118 | 91.5% | $99,940 | $775 | |||||||||||
2 BR | 25 | 21,600 | 864 | 24 | 96.0% | $22,555 | $902 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 190 | 106,272 | 559 | 172 | 90.5% | $146,303 | $770 |
Harbinwood | |||||||||||||||||||||||
Property ID: | 8149 | ||||||||||||||||||||||
# Units | 72 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $624,555 | $8,674 | 100.0% | $663,106 | $9,210 | 100.0% | $685,761 | $9,524 | 100.0% | $694,016 | $9,639 | 100.0% | $697,736 | $9,691 | 100.0% | $698,556 | $9,702 | 100.0% | $700,002 | $9,722 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($31,190) | ($433) | 5.0% | ($28,760) | ($399) | 4.3% | ($17,744) | ($246) | 2.6% | ($16,156) | ($224) | 2.3% | ($22,264) | ($309) | 3.2% | ($41,914) | ($582) | 6.0% | ($31,985) | ($444) | 4.6% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $593,365 | $8,241 | 95.0% | $634,346 | $8,810 | 95.7% | $668,017 | $9,278 | 97.4% | $677,860 | $9,415 | 97.7% | $675,472 | $9,382 | 96.8% | $656,642 | $9,120 | 94.0% | $668,017 | $9,278 | 95.4% | ||
RUBS / Utility Reimbursements | $49,909 | $693 | 7.3% | $49,261 | $684 | 6.9% | $48,737 | $677 | 6.6% | $48,338 | $671 | 6.6% | $47,488 | $660 | 6.5% | $48,960 | $680 | 6.7% | $48,737 | $677 | 6.6% | Based on T12 | |
Other Income | $41,928 | $582 | 6.1% | $30,203 | $419 | 4.2% | $23,110 | $321 | 3.1% | $6,642 | $92 | 0.9% | $5,500 | $76 | 0.8% | $24,264 | $337 | 3.3% | $23,110 | $321 | 3.1% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $685,202 | $9,517 | 100.0% | $713,810 | $9,914 | 100.0% | $739,864 | $10,276 | 100.0% | $732,840 | $10,178 | 100.0% | $728,460 | $10,118 | 100.0% | $729,866 | $10,137 | 100.0% | $739,864 | $10,276 | 100.0% | ||
Real Estate Taxes | $30,260 | $420 | 4.4% | $37,000 | $514 | 5.2% | $36,996 | $514 | 5.0% | $36,996 | $514 | 5.0% | $36,996 | $514 | 5.1% | $51,803 | $719 | 7.1% | $50,370 | $700 | 6.8% | Based on current tax bills | |
Insurance | $19,877 | $276 | 2.9% | $27,330 | $380 | 3.8% | $28,390 | $394 | 3.8% | $28,390 | $394 | 3.9% | $28,390 | $394 | 3.9% | $28,454 | $395 | 3.9% | $27,261 | $379 | 3.7% | Based on current insurance premium statements | |
Management Fee | $20,556 | $286 | 3.0% | $21,414 | $297 | 3.0% | $22,195 | $308 | 3.0% | $21,984 | $305 | 3.0% | $21,853 | $304 | 3.0% | $21,896 | $304 | 3.0% | $22,196 | $308 | 3.0% | Based on 3.0% management fee | |
Utilities | $76,902 | $1,068 | 11.2% | $82,812 | $1,150 | 11.6% | $77,620 | $1,078 | 10.5% | $77,620 | $1,078 | 10.6% | $77,620 | $1,078 | 10.7% | $83,880 | $1,165 | 11.5% | $77,620 | $1,078 | 10.5% | Based on T12 | |
Repairs & Maintenance | $38,020 | $528 | 5.5% | $36,356 | $505 | 5.1% | $32,930 | $457 | 4.5% | $32,930 | $457 | 4.5% | $32,930 | $457 | 4.5% | $30,960 | $430 | 4.2% | $32,930 | $457 | 4.5% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $16,045 | $223 | 2.3% | $6,790 | $94 | 1.0% | $5,547 | $77 | 0.7% | $5,547 | $77 | 0.8% | $5,547 | $77 | 0.8% | $5,760 | $80 | 0.8% | $5,547 | $77 | 0.7% | Based on T12 | |
Payroll & Benefits | $90,639 | $1,259 | 13.2% | $108,349 | $1,505 | 15.2% | $118,543 | $1,646 | 16.0% | $118,543 | $1,646 | 16.2% | $118,543 | $1,646 | 16.3% | $117,750 | $1,635 | 16.1% | $118,543 | $1,646 | 16.0% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $292,299 | $4,060 | 42.7% | $320,051 | $4,445 | 44.8% | $322,221 | $4,475 | 43.6% | $322,010 | $4,472 | 43.9% | $321,879 | $4,471 | 44.2% | $340,503 | $4,729 | 46.7% | $334,467 | $4,645 | 45.2% | ||
Net Operating Income | $392,903 | $5,457 | 57.3% | $393,759 | $5,469 | 55.2% | $417,643 | $5,801 | 56.4% | $410,830 | $5,706 | 56.1% | $406,581 | $5,647 | 55.8% | $389,363 | $5,408 | 53.3% | $405,397 | $5,631 | 54.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $18,000 | $250 | $21,600 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $392,903 | $5,457 | 57.3% | $393,759 | $5,469 | 55.2% | $417,643 | $5,801 | 56.4% | $410,830 | $5,706 | 56.1% | $406,581 | $5,647 | 55.8% | $371,363 | $5,158 | 50.9% | $383,797 | $5,331 | 51.9% |
Harbinwood | ||||||||||||||||||
Property ID: 8149 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8149as1 | Studio | 7 | 2,016 | 288 | 7 | 100.0% | $4,659 | $666 | $2.31 | 0 | $670 | $2.33 | $0 | $4,659 | $666 | $2.31 | $55,908 |
One Bed One Bath Standard | 8149a11 | 1 BR | 48 | 27,648 | 576 | 47 | 97.9% | $37,793 | $804 | $1.40 | 1 | $810 | $1.41 | $810 | $38,603 | $804 | $1.40 | $463,240 |
One Bed One Bath Barrier F | 8149c11 | 1 BR | 4 | 2,304 | 576 | 4 | 100.0% | $3,238 | $810 | $1.41 | 0 | $810 | $1.41 | $0 | $3,238 | $810 | $1.41 | $38,856 |
Two Bed One Bath (2,1) | 8149a21 | 2 BR | 10 | 8,640 | 864 | 9 | 90.0% | $8,274 | $919 | $1.06 | 1 | $920 | $1.06 | $920 | $9,194 | $919 | $1.06 | $110,328 |
Two Bed Two Bath Master | 8149a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,639 | $880 | $1.02 | 0 | $875 | $1.01 | $0 | $2,639 | $880 | $1.02 | $31,670 |
Totals | 72 | 43,200 | 600 | 70 | 97.2% | $56,604 | $809 | $1.35 | 2 | $814 | $1.36 | $1,730 | $58,334 | $810 | $1.35 | $700,002 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 7 | 2,016 | 288 | 7 | 100.0% | $4,659 | $666 | |||||||||||
1 BR | 52 | 29,952 | 576 | 51 | 98.1% | $41,841 | $805 | |||||||||||
2 BR | 13 | 11,232 | 864 | 12 | 92.3% | $11,833 | $910 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 72 | 43,200 | 600 | 70 | 97.2% | $58,334 | $810 |
Meadowland | |||||||||||||||||||||||
Property ID: | 8112 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $490,260 | $8,171 | 100.0% | $522,933 | $8,716 | 100.0% | $539,381 | $8,990 | 100.0% | $545,918 | $9,099 | 100.0% | $549,756 | $9,163 | 100.0% | $564,852 | $9,414 | 100.0% | $552,518 | $9,209 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($13,388) | ($223) | 2.7% | ($37,725) | ($629) | 7.2% | ($20,311) | ($339) | 3.8% | ($12,670) | ($211) | 2.3% | ($10,268) | ($171) | 1.9% | ($33,891) | ($565) | 6.0% | ($33,448) | ($557) | 6.1% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $476,872 | $7,948 | 97.3% | $485,208 | $8,087 | 92.8% | $519,070 | $8,651 | 96.2% | $533,248 | $8,887 | 97.7% | $539,488 | $8,991 | 98.1% | $530,961 | $8,849 | 94.0% | $519,070 | $8,651 | 93.9% | ||
RUBS / Utility Reimbursements | $28,655 | $478 | 5.3% | $29,429 | $490 | 5.4% | $28,280 | $471 | 4.9% | $28,206 | $470 | 4.8% | $28,624 | $477 | 4.7% | $27,000 | $450 | 4.6% | $28,280 | $471 | 4.9% | Based on T12 | |
Other Income | $38,411 | $640 | 7.1% | $28,443 | $474 | 5.2% | $33,704 | $562 | 5.8% | $30,546 | $509 | 5.2% | $39,668 | $661 | 6.5% | $32,100 | $535 | 5.4% | $33,704 | $562 | 5.8% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $543,938 | $9,066 | 100.0% | $543,080 | $9,051 | 100.0% | $581,054 | $9,684 | 100.0% | $592,000 | $9,867 | 100.0% | $607,780 | $10,130 | 100.0% | $590,061 | $9,834 | 100.0% | $581,054 | $9,684 | 100.0% | ||
Real Estate Taxes | $27,695 | $462 | 5.1% | $31,000 | $517 | 5.7% | $30,996 | $517 | 5.3% | $30,996 | $517 | 5.2% | $30,996 | $517 | 5.1% | $47,588 | $793 | 8.1% | $36,800 | $613 | 6.3% | Based on current tax bills | |
Insurance | $16,639 | $277 | 3.1% | $22,703 | $378 | 4.2% | $23,477 | $391 | 4.0% | $23,477 | $391 | 4.0% | $23,477 | $391 | 3.9% | $24,562 | $409 | 4.2% | $22,581 | $376 | 3.9% | Based on current insurance premium statements | |
Management Fee | $16,318 | $272 | 3.0% | $16,292 | $272 | 3.0% | $17,433 | $291 | 3.0% | $17,761 | $296 | 3.0% | $18,235 | $304 | 3.0% | $17,702 | $295 | 3.0% | $17,432 | $291 | 3.0% | Based on 3.0% management fee | |
Utilities | $28,428 | $474 | 5.2% | $32,664 | $544 | 6.0% | $33,594 | $560 | 5.8% | $33,594 | $560 | 5.7% | $33,594 | $560 | 5.5% | $35,100 | $585 | 5.9% | $33,594 | $560 | 5.8% | Based on T12 | |
Repairs & Maintenance | $30,193 | $503 | 5.6% | $35,686 | $595 | 6.6% | $31,051 | $518 | 5.3% | $31,051 | $518 | 5.2% | $31,051 | $518 | 5.1% | $30,300 | $505 | 5.1% | $31,051 | $518 | 5.3% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $8,257 | $138 | 1.5% | $6,844 | $114 | 1.3% | $8,008 | $133 | 1.4% | $8,008 | $133 | 1.4% | $8,008 | $133 | 1.3% | $7,200 | $120 | 1.2% | $8,008 | $133 | 1.4% | Based on T12 | |
Payroll & Benefits | $92,244 | $1,537 | 17.0% | $96,938 | $1,616 | 17.8% | $95,639 | $1,594 | 16.5% | $95,639 | $1,594 | 16.2% | $95,639 | $1,594 | 15.7% | $99,600 | $1,660 | 16.9% | $95,639 | $1,594 | 16.5% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $219,774 | $3,663 | 40.4% | $242,127 | $4,035 | 44.6% | $240,198 | $4,003 | 41.3% | $240,526 | $4,009 | 40.6% | $241,000 | $4,017 | 39.7% | $262,052 | $4,368 | 44.4% | $245,105 | $4,085 | 42.2% | ||
Net Operating Income | $324,164 | $5,403 | 59.6% | $300,953 | $5,016 | 55.4% | $340,856 | $5,681 | 58.7% | $351,474 | $5,858 | 59.4% | $366,780 | $6,113 | 60.3% | $328,009 | $5,467 | 55.6% | $335,949 | $5,599 | 57.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $324,164 | $5,403 | 59.6% | $300,953 | $5,016 | 55.4% | $340,856 | $5,681 | 58.7% | $351,474 | $5,858 | 59.4% | $366,780 | $6,113 | 60.3% | $313,009 | $5,217 | 53.0% | $317,949 | $5,299 | 54.7% |
Meadowland | ||||||||||||||||||
Property ID: 8112 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8112bs1 | Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,734 | $622 | $2.16 | 0 | $650 | $2.26 | $0 | $3,734 | $622 | $2.16 | $44,808 |
One Bed One Bath Standard | 8112a11 | 1 BR | 42 | 24,192 | 576 | 41 | 97.6% | $30,900 | $754 | $1.31 | 1 | $775 | $1.35 | $775 | $31,675 | $754 | $1.31 | $380,102 |
Two Bed One Bath (2,1) | 8112a21 | 2 BR | 9 | 7,776 | 864 | 8 | 88.9% | $7,010 | $876 | $1.01 | 1 | $900 | $1.04 | $900 | $7,910 | $879 | $1.02 | $94,920 |
Two Bed Two Bath Master | 8112a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,724 | $908 | $1.05 | 0 | $910 | $1.05 | $0 | $2,724 | $908 | $1.05 | $32,688 |
Totals | 60 | 36,288 | 605 | 58 | 96.7% | $44,368 | $765 | $1.26 | 2 | $788 | $1.30 | $1,675 | $46,043 | $767 | $1.27 | $552,518 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,734 | $622 | |||||||||||
1 BR | 42 | 24,192 | 576 | 41 | 97.6% | $31,675 | $754 | |||||||||||
2 BR | 12 | 10,368 | 864 | 11 | 91.7% | $10,634 | $886 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 58 | 96.7% | $46,043 | $767 |
Oakley Woods | |||||||||||||||||||||||
Property ID: | 8120 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $520,341 | $8,672 | 100.0% | $546,509 | $9,108 | 100.0% | $561,006 | $9,350 | 100.0% | $567,334 | $9,456 | 100.0% | $568,636 | $9,477 | 100.0% | $595,032 | $9,917 | 100.0% | $570,744 | $9,512 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($97,348) | ($1,622) | 18.7% | ($92,545) | ($1,542) | 16.9% | ($63,778) | ($1,063) | 11.4% | ($76,182) | ($1,270) | 13.4% | ($35,136) | ($586) | 6.2% | ($39,677) | ($661) | 6.7% | ($73,516) | ($1,225) | 12.9% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $422,993 | $7,050 | 81.3% | $453,964 | $7,566 | 83.1% | $497,228 | $8,287 | 88.6% | $491,152 | $8,186 | 86.6% | $533,500 | $8,892 | 93.8% | $555,355 | $9,256 | 93.3% | $497,228 | $8,287 | 87.1% | ||
RUBS / Utility Reimbursements | $34,730 | $579 | 6.8% | $35,431 | $591 | 6.7% | $36,481 | $608 | 6.3% | $36,748 | $612 | 6.5% | $37,164 | $619 | 6.1% | $36,000 | $600 | 5.7% | $36,481 | $608 | 6.3% | Based on T12 | |
Other Income | $49,910 | $832 | 9.8% | $43,208 | $720 | 8.1% | $41,483 | $691 | 7.2% | $37,414 | $624 | 6.6% | $40,336 | $672 | 6.6% | $43,500 | $725 | 6.9% | $41,483 | $691 | 7.2% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $507,633 | $8,461 | 100.0% | $532,603 | $8,877 | 100.0% | $575,192 | $9,587 | 100.0% | $565,314 | $9,422 | 100.0% | $611,000 | $10,183 | 100.0% | $634,855 | $10,581 | 100.0% | $575,192 | $9,587 | 100.0% | ||
Real Estate Taxes | $12,985 | $216 | 2.6% | $44,000 | $733 | 8.3% | $44,004 | $733 | 7.7% | $44,004 | $733 | 7.8% | $44,004 | $733 | 7.2% | $46,698 | $778 | 7.4% | $30,547 | $509 | 5.3% | Based on current tax bills | |
Insurance | $16,795 | $280 | 3.3% | $23,051 | $384 | 4.3% | $23,948 | $399 | 4.2% | $23,948 | $399 | 4.2% | $23,948 | $399 | 3.9% | $23,962 | $399 | 3.8% | $23,010 | $384 | 4.0% | Based on current insurance premium statements | |
Management Fee | $15,229 | $254 | 3.0% | $15,978 | $266 | 3.0% | $17,255 | $288 | 3.0% | $16,959 | $283 | 3.0% | $18,329 | $305 | 3.0% | $17,400 | $290 | 2.7% | $17,256 | $288 | 3.0% | Based on 3.0% management fee | |
Utilities | $58,784 | $980 | 11.6% | $86,950 | $1,449 | 16.3% | $82,949 | $1,382 | 14.4% | $82,949 | $1,382 | 14.7% | $82,949 | $1,382 | 13.6% | $79,800 | $1,330 | 12.6% | $82,949 | $1,382 | 14.4% | Based on T12 | |
Repairs & Maintenance | $46,465 | $774 | 9.2% | $39,056 | $651 | 7.3% | $39,822 | $664 | 6.9% | $39,822 | $664 | 7.0% | $39,822 | $664 | 6.5% | $39,900 | $665 | 6.3% | $39,822 | $664 | 6.9% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $14,063 | $234 | 2.8% | $16,320 | $272 | 3.1% | $17,334 | $289 | 3.0% | $17,334 | $289 | 3.1% | $17,334 | $289 | 2.8% | $16,200 | $270 | 2.6% | $17,334 | $289 | 3.0% | Based on T12 | |
Payroll & Benefits | $85,673 | $1,428 | 16.9% | $83,776 | $1,396 | 15.7% | $92,409 | $1,540 | 16.1% | $92,409 | $1,540 | 16.3% | $92,409 | $1,540 | 15.1% | $81,000 | $1,350 | 12.8% | $92,409 | $1,540 | 16.1% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $249,994 | $4,167 | 49.2% | $309,131 | $5,152 | 58.0% | $317,721 | $5,295 | 55.2% | $317,425 | $5,290 | 56.2% | $318,795 | $5,313 | 52.2% | $304,960 | $5,083 | 48.0% | $303,327 | $5,055 | 52.7% | ||
Net Operating Income | $257,639 | $4,294 | 50.8% | $223,472 | $3,725 | 42.0% | $257,471 | $4,291 | 44.8% | $247,889 | $4,131 | 43.8% | $292,205 | $4,870 | 47.8% | $329,895 | $5,498 | 52.0% | $271,865 | $4,531 | 47.3% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $257,639 | $4,294 | 50.8% | $223,472 | $3,725 | 42.0% | $257,471 | $4,291 | 44.8% | $247,889 | $4,131 | 43.8% | $292,205 | $4,870 | 47.8% | $314,895 | $5,248 | 49.6% | $253,865 | $4,231 | 44.1% |
Oakley Woods | ||||||||||||||||||
Property ID: 8120 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8120bs1 | Studio | 6 | 1,728 | 288 | 5 | 83.3% | $3,269 | $654 | $2.27 | 1 | $700 | $2.43 | $700 | $3,969 | $662 | $2.30 | $47,628 |
One Bed One Bath Standard | 8120a11 | 1 BR | 42 | 24,192 | 576 | 39 | 92.9% | $30,400 | $779 | $1.35 | 3 | $815 | $1.41 | $2,445 | $32,845 | $782 | $1.36 | $394,140 |
Two Bed One Bath (2,1) | 8120a21 | 2 BR | 9 | 7,776 | 864 | 7 | 77.8% | $6,029 | $861 | $1.00 | 2 | $935 | $1.08 | $1,870 | $7,899 | $878 | $1.02 | $94,788 |
Two Bed Two Bath Master | 8120a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,849 | $950 | $1.10 | 0 | $975 | $1.13 | $0 | $2,849 | $950 | $1.10 | $34,188 |
Totals | 60 | 36,288 | 605 | 54 | 90.0% | $42,547 | $788 | $1.30 | 6 | $830 | $1.37 | $5,015 | $47,562 | $793 | $1.31 | $570,744 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 5 | 83.3% | $3,969 | $662 | |||||||||||
1 BR | 42 | 24,192 | 576 | 39 | 92.9% | $32,845 | $782 | |||||||||||
2 BR | 12 | 10,368 | 864 | 10 | 83.3% | $10,748 | $896 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 54 | 90.0% | $47,562 | $793 |
Carriage Hill | |||||||||||||||||||||||
Property ID: | 8140 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $430,695 | $7,178 | 100.0% | $447,170 | $7,453 | 100.0% | $457,355 | $7,623 | 100.0% | $459,442 | $7,657 | 100.0% | $461,740 | $7,696 | 100.0% | $471,216 | $7,854 | 100.0% | $461,428 | $7,690 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($44,677) | ($745) | 10.4% | ($35,095) | ($585) | 7.8% | ($31,552) | ($526) | 6.9% | ($22,134) | ($369) | 4.8% | ($33,392) | ($557) | 7.2% | ($24,849) | ($414) | 5.3% | ($35,625) | ($594) | 7.7% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $386,018 | $6,434 | 89.6% | $412,075 | $6,868 | 92.2% | $425,803 | $7,097 | 93.1% | $437,308 | $7,288 | 95.2% | $428,348 | $7,139 | 92.8% | $446,367 | $7,439 | 94.7% | $425,803 | $7,097 | 92.3% | ||
RUBS / Utility Reimbursements | $26,754 | $446 | 5.8% | $26,300 | $438 | 5.4% | $26,202 | $437 | 5.3% | $26,308 | $438 | 5.1% | $26,092 | $435 | 5.2% | $26,400 | $440 | 5.1% | $26,202 | $437 | 5.3% | Based on T12 | |
Other Income | $51,298 | $855 | 11.1% | $50,120 | $835 | 10.3% | $40,240 | $671 | 8.2% | $48,222 | $804 | 9.4% | $49,792 | $830 | 9.9% | $42,360 | $706 | 8.2% | $40,240 | $671 | 8.2% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $464,070 | $7,735 | 100.0% | $488,495 | $8,142 | 100.0% | $492,245 | $8,204 | 100.0% | $511,838 | $8,531 | 100.0% | $504,232 | $8,404 | 100.0% | $515,127 | $8,585 | 100.0% | $492,245 | $8,204 | 100.0% | ||
Real Estate Taxes | $15,600 | $260 | 3.4% | $15,600 | $260 | 3.2% | $15,600 | $260 | 3.2% | $15,600 | $260 | 3.0% | $15,600 | $260 | 3.1% | $17,822 | $297 | 3.5% | $16,973 | $283 | 3.4% | Based on current tax bills | |
Insurance | $16,328 | $272 | 3.5% | $22,370 | $373 | 4.6% | $23,191 | $387 | 4.7% | $23,191 | $387 | 4.5% | $23,191 | $387 | 4.6% | $23,962 | $399 | 4.7% | $22,285 | $371 | 4.5% | Based on current insurance premium statements | |
Management Fee | $13,922 | $232 | 3.0% | $14,655 | $244 | 3.0% | $14,768 | $246 | 3.0% | $15,356 | $256 | 3.0% | $15,128 | $252 | 3.0% | $15,454 | $258 | 3.0% | $14,767 | $246 | 3.0% | Based on 3.0% management fee | |
Utilities | $32,361 | $539 | 7.0% | $29,067 | $484 | 6.0% | $32,750 | $546 | 6.7% | $32,750 | $546 | 6.4% | $32,750 | $546 | 6.5% | $32,520 | $542 | 6.3% | $32,750 | $546 | 6.7% | Based on T12 | |
Repairs & Maintenance | $30,622 | $510 | 6.6% | $32,782 | $546 | 6.7% | $28,369 | $473 | 5.8% | $28,369 | $473 | 5.5% | $28,369 | $473 | 5.6% | $35,700 | $595 | 6.9% | $28,369 | $473 | 5.8% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $6,948 | $116 | 1.5% | $7,793 | $130 | 1.6% | $5,974 | $100 | 1.2% | $5,974 | $100 | 1.2% | $5,974 | $100 | 1.2% | $6,300 | $105 | 1.2% | $5,974 | $100 | 1.2% | Based on T12 | |
Payroll & Benefits | $87,845 | $1,464 | 18.9% | $90,828 | $1,514 | 18.6% | $96,333 | $1,606 | 19.6% | $96,333 | $1,606 | 18.8% | $96,333 | $1,606 | 19.1% | $96,000 | $1,600 | 18.6% | $96,333 | $1,606 | 19.6% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $203,626 | $3,394 | 43.9% | $213,095 | $3,552 | 43.6% | $216,985 | $3,616 | 44.1% | $217,573 | $3,626 | 42.5% | $217,345 | $3,622 | 43.1% | $227,758 | $3,796 | 44.2% | $217,451 | $3,624 | 44.2% | ||
Net Operating Income | $260,444 | $4,341 | 56.1% | $275,400 | $4,590 | 56.4% | $275,260 | $4,588 | 55.9% | $294,265 | $4,904 | 57.5% | $286,887 | $4,781 | 56.9% | $287,369 | $4,789 | 55.8% | $274,794 | $4,580 | 55.8% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $260,444 | $4,341 | 56.1% | $275,400 | $4,590 | 56.4% | $275,260 | $4,588 | 55.9% | $294,265 | $4,904 | 57.5% | $286,887 | $4,781 | 56.9% | $272,369 | $4,539 | 52.9% | $256,794 | $4,280 | 52.2% |
Carriage Hill | ||||||||||||||||||
Property ID: 8140 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8140bs1 | Studio | 6 | 1,728 | 288 | 5 | 83.3% | $2,800 | $560 | $1.94 | 1 | $575 | $2.00 | $575 | $3,375 | $563 | $1.95 | $40,500 |
One Bed One Bath Standard | 8140a11 | 1 BR | 42 | 24,192 | 576 | 38 | 90.5% | $23,818 | $627 | $1.09 | 4 | $650 | $1.13 | $2,600 | $26,418 | $629 | $1.09 | $317,020 |
Two Bed One Bath (2,1) | 8140a21 | 2 BR | 9 | 7,776 | 864 | 8 | 88.9% | $5,706 | $713 | $0.83 | 1 | $735 | $0.85 | $735 | $6,441 | $716 | $0.83 | $77,292 |
Two Bed Two Bath Master | 8140a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,218 | $739 | $0.86 | 0 | $760 | $0.88 | $0 | $2,218 | $739 | $0.86 | $26,616 |
Totals | 60 | 36,288 | 605 | 54 | 90.0% | $34,542 | $640 | $1.06 | 6 | $661 | $1.09 | $3,910 | $38,452 | $641 | $1.06 | $461,428 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 5 | 83.3% | $3,375 | $563 | |||||||||||
1 BR | 42 | 24,192 | 576 | 38 | 90.5% | $26,418 | $629 | |||||||||||
2 BR | 12 | 10,368 | 864 | 11 | 91.7% | $8,659 | $722 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 54 | 90.0% | $38,452 | $641 |
Timberwood | |||||||||||||||||||||||
Property ID: | 8139 | ||||||||||||||||||||||
# Units | 60 | ||||||||||||||||||||||
Historical and UW Cash Flows | |||||||||||||||||||||||
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $441,978 | $7,366 | 100.0% | $459,156 | $7,653 | 100.0% | $472,931 | $7,882 | 100.0% | $478,290 | $7,972 | 100.0% | $484,648 | $8,077 | 100.0% | $496,860 | $8,281 | 100.0% | $486,468 | $8,108 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($39,774) | ($663) | 9.0% | ($30,017) | ($500) | 6.5% | ($27,431) | ($457) | 5.8% | ($23,174) | ($386) | 4.8% | ($29,724) | ($495) | 6.1% | ($24,843) | ($414) | 5.0% | ($40,968) | ($683) | 8.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $402,204 | $6,703 | 91.0% | $429,139 | $7,152 | 93.5% | $445,500 | $7,425 | 94.2% | $455,116 | $7,585 | 95.2% | $454,924 | $7,582 | 93.9% | $472,017 | $7,867 | 95.0% | $445,500 | $7,425 | 91.6% | ||
RUBS / Utility Reimbursements | $30,054 | $501 | 6.1% | $30,606 | $510 | 6.2% | $30,871 | $515 | 5.8% | $31,076 | $518 | 5.6% | $30,980 | $516 | 5.5% | $30,900 | $515 | 5.6% | $30,871 | $515 | 5.8% | Based on T12 | |
Other Income | $56,827 | $947 | 11.6% | $37,622 | $627 | 7.6% | $53,362 | $889 | 10.1% | $66,890 | $1,115 | 12.1% | $79,232 | $1,321 | 14.0% | $49,560 | $826 | 9.0% | $53,362 | $889 | 10.1% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $489,085 | $8,151 | 100.0% | $497,367 | $8,289 | 100.0% | $529,733 | $8,829 | 100.0% | $553,082 | $9,218 | 100.0% | $565,136 | $9,419 | 100.0% | $552,477 | $9,208 | 100.0% | $529,733 | $8,829 | 100.0% | ||
Real Estate Taxes | $14,000 | $233 | 2.9% | $14,000 | $233 | 2.8% | $14,004 | $233 | 2.6% | $14,004 | $233 | 2.5% | $14,004 | $233 | 2.5% | $19,245 | $321 | 3.5% | $22,144 | $369 | 4.2% | Based on current tax bills | |
Insurance | $16,616 | $277 | 3.4% | $22,753 | $379 | 4.6% | $23,604 | $393 | 4.5% | $23,604 | $393 | 4.3% | $23,604 | $393 | 4.2% | $23,962 | $399 | 4.3% | $22,686 | $378 | 4.3% | Based on current insurance premium statements | |
Management Fee | $14,673 | $245 | 3.0% | $14,921 | $249 | 3.0% | $15,891 | $265 | 3.0% | $16,591 | $277 | 3.0% | $16,953 | $283 | 3.0% | $16,574 | $276 | 3.0% | $15,892 | $265 | 3.0% | Based on 3.0% management fee | |
Utilities | $50,954 | $849 | 10.4% | $35,824 | $597 | 7.2% | $47,415 | $790 | 9.0% | $47,415 | $790 | 8.6% | $47,415 | $790 | 8.4% | $43,800 | $730 | 7.9% | $47,415 | $790 | 9.0% | Based on T12 | |
Repairs & Maintenance | $35,158 | $586 | 7.2% | $32,712 | $545 | 6.6% | $37,292 | $622 | 7.0% | $37,292 | $622 | 6.7% | $37,292 | $622 | 6.6% | $39,300 | $655 | 7.1% | $37,292 | $622 | 7.0% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $9,294 | $155 | 1.9% | $9,480 | $158 | 1.9% | $10,102 | $168 | 1.9% | $10,102 | $168 | 1.8% | $10,102 | $168 | 1.8% | $10,200 | $170 | 1.8% | $10,102 | $168 | 1.9% | Based on T12 | |
Payroll & Benefits | $77,361 | $1,289 | 15.8% | $75,556 | $1,259 | 15.2% | $76,752 | $1,279 | 14.5% | $76,752 | $1,279 | 13.9% | $76,752 | $1,279 | 13.6% | $78,000 | $1,300 | 14.1% | $76,752 | $1,279 | 14.5% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $218,056 | $3,634 | 44.6% | $205,246 | $3,421 | 41.3% | $225,060 | $3,751 | 42.5% | $225,760 | $3,763 | 40.8% | $226,122 | $3,769 | 40.0% | $231,081 | $3,851 | 41.8% | $232,282 | $3,871 | 43.8% | ||
Net Operating Income | $271,029 | $4,517 | 55.4% | $292,121 | $4,869 | 58.7% | $304,673 | $5,078 | 57.5% | $327,322 | $5,455 | 59.2% | $339,014 | $5,650 | 60.0% | $321,396 | $5,357 | 58.2% | $297,451 | $4,958 | 56.2% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15,000 | $250 | $18,000 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $271,029 | $4,517 | 55.4% | $292,121 | $4,869 | 58.7% | $304,673 | $5,078 | 57.5% | $327,322 | $5,455 | 59.2% | $339,014 | $5,650 | 60.0% | $306,396 | $5,107 | 55.5% | $279,451 | $4,658 | 52.8% |
Timberwood | ||||||||||||||||||
Property ID: 8139 | ||||||||||||||||||
Unit Mix | ||||||||||||||||||
9/3/2021 | ||||||||||||||||||
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
Studio Open (0,1) | 8139bs1 | Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,306 | $551 | $1.91 | 0 | $600 | $2.08 | $0 | $3,306 | $551 | $1.91 | $39,672 |
One Bed One Bath Standard | 8139a11 | 1 BR | 39 | 22,464 | 576 | 39 | 100.0% | $26,170 | $671 | $1.16 | 0 | $690 | $1.20 | $0 | $26,170 | $671 | $1.16 | $314,034 |
One Bed One Bath Barrier F | 8139c11 | 1 BR | 3 | 1,728 | 576 | 3 | 100.0% | $2,056 | $685 | $1.19 | 0 | $690 | $1.20 | $0 | $2,056 | $685 | $1.19 | $24,672 |
Two Bed One Bath (2,1) | 8139a21 | 2 BR | 9 | 7,776 | 864 | 8 | 88.9% | $5,843 | $730 | $0.85 | 1 | $800 | $0.93 | $800 | $6,643 | $738 | $0.85 | $79,710 |
Two Bed Two Bath Master | 8139a22 | 2 BR | 3 | 2,592 | 864 | 3 | 100.0% | $2,365 | $788 | $0.91 | 0 | $820 | $0.95 | $0 | $2,365 | $788 | $0.91 | $28,380 |
Totals | 60 | 36,288 | 605 | 59 | 98.3% | $39,739 | $674 | $1.11 | 1 | $704 | $1.16 | $800 | $40,539 | $676 | $1.12 | $486,468 | ||
By Basic Unit Type (# BR’s) | ||||||||||||||||||
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||||||||||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |||||||||||
Studio | 6 | 1,728 | 288 | 6 | 100.0% | $3,306 | $551 | |||||||||||
1 BR | 42 | 24,192 | 576 | 42 | 100.0% | $28,226 | $672 | |||||||||||
2 BR | 12 | 10,368 | 864 | 11 | 91.7% | $9,008 | $751 | |||||||||||
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |||||||||||
Totals | 60 | 36,288 | 605 | 59 | 98.3% | $40,539 | $676 |
Barrington | |
Property ID: | 8124 |
# Units | 47 |
Historical and UW Cash Flows
2019 | 2020 | T12 (08/2021) | T6 Income/TTM Expenses | T3 Income/TTM Expenses | Appraisal | UW | |||||||||||||||||
$ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | $ Amt | $/Unit | % | Notes | ||
Gross Potential Rent | $380,329 | $8,092 | 100.0% | $409,350 | $8,710 | 100.0% | $426,056 | $9,065 | 100.0% | $431,510 | $9,181 | 100.0% | $434,104 | $9,236 | 100.0% | $436,044 | $9,278 | 100.0% | $436,604 | $9,289 | 100.0% | Based on 9/3/2021 Unit Mix w/vacant units grossed up at Appraisal’s concluded market rents | |
Total Vacancy | ($19,169) | ($408) | 5.0% | ($20,928) | ($445) | 5.1% | ($17,547) | ($373) | 4.1% | ($13,730) | ($292) | 3.2% | ($6,728) | ($143) | 1.5% | ($26,162) | ($557) | 6.0% | ($28,095) | ($598) | 6.4% | UW Vacancy Loss such that Net Rental Collections Equates to Actual TTM Collections. | |
Net Rental Collections | $361,160 | $7,684 | 95.0% | $388,422 | $8,264 | 94.9% | $408,509 | $8,692 | 95.9% | $417,780 | $8,889 | 96.8% | $427,376 | $9,093 | 98.5% | $409,882 | $8,721 | 94.0% | $408,509 | $8,692 | 93.6% | ||
RUBS / Utility Reimbursements | $29,912 | $636 | 7.1% | $29,064 | $618 | 6.7% | $29,085 | $619 | 6.4% | $29,174 | $621 | 6.3% | $29,544 | $629 | 6.2% | $29,140 | $620 | 6.3% | $29,085 | $619 | 6.4% | Based on T12 | |
Other Income | $27,592 | $587 | 6.6% | $18,069 | $384 | 4.1% | $18,127 | $386 | 4.0% | $18,240 | $388 | 3.9% | $19,484 | $415 | 4.1% | $23,265 | $495 | 5.0% | $18,127 | $386 | 4.0% | Based on T12 (move-In fees, ins waivers, pet rent, etc.) | |
Other Income 3 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 4 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Income 5 | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Effective Gross Income | $418,664 | $8,908 | 100.0% | $435,555 | $9,267 | 100.0% | $455,721 | $9,696 | 100.0% | $465,194 | $9,898 | 100.0% | $476,404 | $10,136 | 100.0% | $462,287 | $9,836 | 100.0% | $455,721 | $9,696 | 100.0% | ||
Real Estate Taxes | $31,000 | $660 | 7.4% | $31,000 | $660 | 7.1% | $30,996 | $659 | 6.8% | $30,996 | $659 | 6.7% | $30,996 | $659 | 6.5% | $44,145 | $939 | 9.5% | $25,173 | $536 | 5.5% | Based on current tax bills | |
Insurance | $13,348 | $284 | 3.2% | $18,227 | $388 | 4.2% | $18,931 | $403 | 4.2% | $18,931 | $403 | 4.1% | $18,931 | $403 | 4.0% | $18,870 | $401 | 4.1% | $18,232 | $388 | 4.0% | Based on current insurance premium statements | |
Management Fee | $12,560 | $267 | 3.0% | $13,067 | $278 | 3.0% | $13,674 | $291 | 3.0% | $13,958 | $297 | 3.0% | $14,295 | $304 | 3.0% | $13,869 | $295 | 3.0% | $13,672 | $291 | 3.0% | Based on 3.0% management fee | |
Utilities | $42,817 | $911 | 10.2% | $35,601 | $757 | 8.2% | $38,830 | $826 | 8.5% | $38,830 | $826 | 8.3% | $38,830 | $826 | 8.2% | $38,775 | $825 | 8.4% | $38,830 | $826 | 8.5% | Based on T12 | |
Repairs & Maintenance | $20,586 | $438 | 4.9% | $23,843 | $507 | 5.5% | $18,726 | $398 | 4.1% | $18,726 | $398 | 4.0% | $18,726 | $398 | 3.9% | $20,210 | $430 | 4.4% | $18,726 | $398 | 4.1% | Based on T12 | |
Contract Services | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Common Area Maintenance | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
General & Administrative | $6,407 | $136 | 1.5% | $12,401 | $264 | 2.8% | $12,737 | $271 | 2.8% | $12,737 | $271 | 2.7% | $12,737 | $271 | 2.7% | $7,285 | $155 | 1.6% | $12,737 | $271 | 2.8% | Based on T12 | |
Payroll & Benefits | $80,243 | $1,707 | 19.2% | $73,309 | $1,560 | 16.8% | $71,293 | $1,517 | 15.6% | $71,293 | $1,517 | 15.3% | $71,293 | $1,517 | 15.0% | $68,500 | $1,457 | 14.8% | $71,293 | $1,517 | 15.6% | Based on T12 | |
Marketing | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Turnover Costs | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Professional Fees | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Other Expense | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | $0 | $0 | 0.0% | ||
Total Expenses | $206,961 | $4,403 | 49.4% | $207,448 | $4,414 | 47.6% | $205,187 | $4,366 | 45.0% | $205,471 | $4,372 | 44.2% | $205,808 | $4,379 | 43.2% | $211,654 | $4,503 | 45.8% | $198,662 | $4,227 | 43.6% | ||
Net Operating Income | $211,703 | $4,504 | 50.6% | $228,107 | $4,853 | 52.4% | $250,534 | $5,331 | 55.0% | $259,723 | $5,526 | 55.8% | $270,596 | $5,757 | 56.8% | $250,633 | $5,333 | 54.2% | $257,059 | $5,469 | 56.4% | ||
Replacement Reserves | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $11,750 | $250 | $14,100 | $300 | Based on $300/unit. PCA Reports concluded an inflated replacement reserve of $259/unit. Lender holding back $500,000 into a Replacement Reserve for future capital needs. | ||||||||
Net Cash Flow | $211,703 | $4,504 | 50.6% | $228,107 | $4,853 | 52.4% | $250,534 | $5,331 | 55.0% | $259,723 | $5,526 | 55.8% | $270,596 | $5,757 | 56.8% | $238,883 | $5,083 | 51.7% | $242,959 | $5,169 | 53.3% |
Barrington
Property ID: 8124
Unit Mix
9/3/2021
Total | Avg RSF | Occ | Total Occ | Avg Occ | Occ | Vac | Market | Market | Vacant | UW GPR | UW GPR | UW GPR | UW GPR | |||||
Unit Type | ID | # BR | # Units | RSF | Per Unit | Units | Occ % | Rent/Mo | Rent/Unit | $/SF/Mo | Units | Rent/Mo | $/SF/Mo | Gross Up | $/Unit | $/Unit/mo | $/SF/Mo | Annual |
One Bed One Bath Standard | 8124a11 | 1 BR | 39 | 22,464 | 576 | 39 | 100.0% | $29,289 | $751 | $1.30 | 0 | $750 | $1.30 | $0 | $29,289 | $751 | $1.30 | $351,464 |
Two Bed One Bath (2,1) | 8124a21 | 2 BR | 6 | 5,184 | 864 | 6 | 100.0% | $5,205 | $868 | $1.00 | 0 | $870 | $1.01 | $0 | $5,205 | $868 | $1.00 | $62,460 |
Two Bed Two Bath Master | 8124a22 | 2 BR | 2 | 1,728 | 864 | 2 | 100.0% | $1,890 | $945 | $1.09 | 0 | $945 | $1.09 | $0 | $1,890 | $945 | $1.09 | $22,680 |
Totals | 47 | 29,376 | 625 | 47 | 100.0% | $36,384 | $774 | $1.24 | 0 | $774 | $1.24 | $0 | $36,384 | $774 | $1.24 | $436,604 |
By Basic Unit Type (# BR’s)
Total | Avg RSF | Occ | UW GPR | UW GPR | ||||
Unit Type | # Units | RSF | Per Unit | Units | Occ % | $/Unit | $/Unit/mo | |
Studio | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
1 BR | 39 | 22,464 | 576 | 39 | 100.0% | $29,289 | $751 | |
2 BR | 8 | 6,912 | 864 | 8 | 100.0% | $7,095 | $887 | |
3 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
4 BR | 0 | 0 | 0 | 0 | 0.0% | $0 | $0 | |
Totals | 47 | 29,376 | 625 | 47 | 100.0% | $36,384 | $774 |
Unit Mix & Occupancy Summary
Unit Mix | # Occ | # Vac | Occ. | EGI | $/Occ | % | GPR | GPR | GPR | % | ||||||||||
# | ID | Property Name | City | State | Yr. Built | Units | Studio | 1 BR | 2 BR | 3 BR | Units | Units | % | Monthly | Unit | In-Place | Monthly | Per Unit | Annual | GPR |
1 | 6109 | Cedargate Lancaster | Lancaster | OH | 1983 | 157 | 10 | 92 | 55 | 0 | 148 | 9 | 94.3% | $98,568 | $666 | 4.5% | $104,498 | $666 | $1,253,971 | 4.5% |
2 | 6824 | Amesbury | Reynoldsburg | OH | 1986 | 149 | 43 | 95 | 11 | 0 | 139 | 10 | 93.3% | $90,382 | $650 | 4.1% | $97,322 | $653 | $1,167,861 | 4.2% |
3 | 6297 | Plumwood | Columbus | OH | 1977 | 143 | 24 | 100 | 19 | 0 | 131 | 12 | 91.6% | $92,667 | $707 | 4.2% | $101,617 | $711 | $1,219,399 | 4.4% |
4 | 6847 | Red Deer | Fairborn | OH | 1988 | 131 | 31 | 92 | 8 | 0 | 125 | 6 | 95.4% | $86,772 | $694 | 4.0% | $90,542 | $691 | $1,086,509 | 3.9% |
5 | 6647 | Cedargate | Clayton | OH | 1984 | 130 | 27 | 86 | 16 | 1 | 123 | 7 | 94.6% | $82,576 | $671 | 3.8% | $87,556 | $674 | $1,050,668 | 3.8% |
6 | 6402 | Millburn Court | Centerville | OH | 1979 | 115 | 19 | 78 | 17 | 1 | 115 | 0 | 100.0% | $79,697 | $693 | 3.6% | $79,697 | $693 | $956,365 | 3.4% |
7 | 6505 | Camelia Court | Dayton | OH | 1982 | 110 | 18 | 75 | 17 | 0 | 105 | 5 | 95.5% | $72,559 | $691 | 3.3% | $76,309 | $694 | $915,708 | 3.3% |
8 | 6751 | Winthrop Court | Columbus | OH | 1985 | 100 | 10 | 70 | 20 | 0 | 96 | 4 | 96.0% | $71,723 | $747 | 3.3% | $74,523 | $745 | $894,278 | 3.2% |
9 | 6322 | Parkville | Columbus | OH | 1978 | 100 | 27 | 68 | 5 | 0 | 96 | 4 | 96.0% | $62,176 | $648 | 2.8% | $65,376 | $654 | $784,517 | 2.8% |
10 | 6735 | Rosewood Apartments | Columbus | OH | 1985 | 89 | 8 | 64 | 17 | 0 | 88 | 1 | 98.9% | $66,052 | $751 | 3.0% | $66,777 | $750 | $801,326 | 2.9% |
11 | 6814 | Ashford Hills | Reynoldsburg | OH | 1986 | 77 | 23 | 49 | 5 | 0 | 74 | 3 | 96.1% | $53,185 | $719 | 2.4% | $55,310 | $718 | $663,725 | 2.4% |
12 | 6946 | Amberwood - Massillion | Massillon | OH | 1987 | 63 | 7 | 50 | 6 | 0 | 60 | 3 | 95.2% | $39,048 | $651 | 1.8% | $41,013 | $651 | $492,156 | 1.8% |
13 | 6761 | Sherbrook | Columbus | OH | 1985 | 60 | 18 | 38 | 4 | 0 | 56 | 4 | 93.3% | $40,722 | $727 | 1.9% | $43,672 | $728 | $524,064 | 1.9% |
14 | 6642 | Stonehenge Apartments | Massillon | OH | 1984 | 60 | 6 | 42 | 12 | 0 | 58 | 2 | 96.7% | $37,510 | $647 | 1.7% | $38,790 | $647 | $465,480 | 1.7% |
15 | 6535 | Greenglen II | Springfield Township | OH | 1982 | 58 | 14 | 39 | 5 | 0 | 57 | 1 | 98.3% | $35,561 | $624 | 1.6% | $36,206 | $624 | $434,472 | 1.6% |
16 | 6531 | Andover Court | Mount Vernon | OH | 1982 | 51 | 9 | 32 | 10 | 0 | 49 | 2 | 96.1% | $32,869 | $671 | 1.5% | $34,229 | $671 | $410,749 | 1.5% |
17 | 6630 | Sandalwood | Toledo | OH | 1983 | 50 | 6 | 34 | 10 | 0 | 48 | 2 | 96.0% | $32,321 | $673 | 1.5% | $33,631 | $673 | $403,574 | 1.4% |
18 | 6576 | Meadowood - Mansfield | Mansfield | OH | 1986 | 50 | 5 | 35 | 10 | 0 | 48 | 2 | 96.0% | $27,687 | $577 | 1.3% | $28,947 | $579 | $347,358 | 1.2% |
19 | 6804 | Cambridge Commons | Indianapolis | IN | 1985 | 235 | 43 | 171 | 20 | 1 | 221 | 14 | 94.0% | $149,834 | $678 | 6.8% | $159,574 | $679 | $1,914,891 | 6.9% |
20 | 6846 | Cherry Glen | Indianapolis | IN | 1986 | 137 | 28 | 99 | 10 | 0 | 130 | 7 | 94.9% | $89,431 | $688 | 4.1% | $94,321 | $688 | $1,131,848 | 4.1% |
21 | 6721 | Olivewood | Indianapolis | IN | 1985 | 128 | 25 | 86 | 17 | 0 | 122 | 6 | 95.3% | $84,775 | $695 | 3.9% | $89,000 | $695 | $1,068,005 | 3.8% |
22 | 6695 | Annhurst | Indianapolis | IN | 1984 | 83 | 8 | 59 | 16 | 0 | 82 | 1 | 98.8% | $58,919 | $719 | 2.7% | $59,634 | $718 | $715,602 | 2.6% |
23 | 6657 | Willow Run - New Albany | New Albany | IN | 1984 | 64 | 5 | 46 | 13 | 0 | 61 | 3 | 95.3% | $44,835 | $735 | 2.0% | $47,120 | $736 | $565,438 | 2.0% |
24 | 6651 | Stonehenge | Indianapolis | IN | 1984 | 60 | 6 | 42 | 12 | 0 | 57 | 3 | 95.0% | $42,423 | $744 | 1.9% | $44,773 | $746 | $537,276 | 1.9% |
25 | 6550 | Applegate | Columbus | IN | 1982 | 58 | 7 | 39 | 12 | 0 | 54 | 4 | 93.1% | $42,087 | $779 | 1.9% | $45,162 | $779 | $541,944 | 1.9% |
26 | 6786 | Spicewood | Indianapolis | IN | 1985 | 49 | 14 | 32 | 2 | 1 | 48 | 1 | 98.0% | $32,549 | $678 | 1.5% | $33,144 | $676 | $397,728 | 1.4% |
27 | 8209 | Indian Lake I | Morrow | GA | 1987 | 243 | 0 | 229 | 13 | 1 | 220 | 23 | 90.5% | $163,312 | $742 | 7.4% | $181,937 | $749 | $2,183,244 | 7.8% |
28 | 8486 | Stewart Way 1 | Hinesville | GA | 1986 | 190 | 36 | 129 | 25 | 0 | 172 | 18 | 90.5% | $132,153 | $768 | 6.0% | $146,303 | $770 | $1,755,635 | 6.3% |
29 | 8149 | Harbinwood | Norcross | GA | 1986 | 72 | 7 | 52 | 13 | 0 | 70 | 2 | 97.2% | $56,604 | $809 | 2.6% | $58,334 | $810 | $700,002 | 2.5% |
30 | 8112 | Meadowland | Bogart | GA | 1984 | 60 | 6 | 42 | 12 | 0 | 58 | 2 | 96.7% | $44,368 | $765 | 2.0% | $46,043 | $767 | $552,518 | 2.0% |
31 | 8120 | Oakley Woods | Union City | GA | 1985 | 60 | 6 | 42 | 12 | 0 | 54 | 6 | 90.0% | $42,547 | $788 | 1.9% | $47,562 | $793 | $570,744 | 2.0% |
32 | 8140 | Carriage Hill | Dublin | GA | 1985 | 60 | 6 | 42 | 12 | 0 | 54 | 6 | 90.0% | $34,542 | $640 | 1.6% | $38,452 | $641 | $461,428 | 1.7% |
33 | 8139 | Timberwood | Perry | GA | 1985 | 60 | 6 | 42 | 12 | 0 | 59 | 1 | 98.3% | $39,739 | $674 | 1.8% | $40,539 | $676 | $486,468 | 1.7% |
34 | 8124 | Barrington | Clarkston | GA | 1984 | 47 | 0 | 39 | 8 | 0 | 47 | 0 | 100.0% | $36,384 | $774 | 1.7% | $36,384 | $774 | $436,604 | 1.6% |
Totals | 3,299 | 508 | 2,330 | 456 | 5 | 3,125 | 174 | 94.7% | $2,196,576 | $703 | 100.0% | $2,324,296 | $705 | $27,891,556 | 100.0% |
* Based on 9/03/21 Unit Mixes
Historical Occupancy by Property
September | |||||||||
# | ID | Property Name | 2017 | 2018 | 2019 | 2020 | 2021 | 2021 | 5-yr Avg |
1 | 6109 | Cedargate Lancaster | 92.4% | 92.1% | 92.1% | 90.3% | 86.5% | 94.3% | 91.3% |
2 | 6824 | Amesbury | 88.1% | 93.3% | 87.3% | 93.7% | 91.4% | 93.3% | 91.2% |
3 | 6297 | Plumwood | 91.3% | 92.2% | 86.7% | 87.1% | 89.7% | 91.6% | 89.8% |
4 | 6847 | Red Deer | 92.8% | 90.9% | 87.5% | 89.0% | 90.6% | 95.4% | 91.1% |
5 | 6647 | Cedargate | 94.8% | 91.2% | 90.0% | 91.0% | 90.4% | 94.6% | 92.0% |
6 | 6402 | Millburn Court | 91.8% | 89.2% | 88.3% | 93.2% | 96.6% | 100.0% | 93.2% |
7 | 6505 | Camelia Court | 87.2% | 85.9% | 85.5% | 87.5% | 88.2% | 95.5% | 88.3% |
8 | 6751 | Winthrop Court | 94.8% | 93.6% | 87.9% | 88.7% | 95.0% | 96.0% | 92.7% |
9 | 6322 | Parkville | 90.6% | 92.7% | 78.4% | 87.2% | 94.1% | 96.0% | 89.8% |
10 | 6735 | Rosewood Apartments | 93.2% | 92.4% | 95.0% | 91.1% | 95.7% | 98.9% | 94.4% |
11 | 6814 | Ashford Hills | 94.9% | 96.1% | 94.5% | 95.0% | 96.1% | 96.1% | 95.5% |
12 | 6946 | Amberwood - Massillion | 93.6% | 92.6% | 90.2% | 92.5% | 93.8% | 95.2% | 93.0% |
13 | 6761 | Sherbrook | 91.7% | 94.2% | 93.0% | 94.0% | 91.9% | 93.3% | 93.0% |
14 | 6642 | Stonehenge Apartments | 90.6% | 87.3% | 88.7% | 90.2% | 90.6% | 96.7% | 90.7% |
15 | 6535 | Greenglen II | 89.0% | 89.5% | 85.5% | 91.7% | 98.3% | 98.3% | 92.0% |
16 | 6531 | Andover Court | 94.4% | 89.5% | 88.8% | 87.3% | 90.8% | 96.1% | 91.1% |
17 | 6630 | Sandalwood | 88.0% | 89.5% | 87.1% | 89.3% | 94.1% | 96.0% | 90.7% |
18 | 6576 | Meadowood - Mansfield | 94.4% | 93.2% | 92.0% | 92.3% | 94.1% | 96.0% | 93.7% |
19 | 6804 | Cambridge Commons | 87.3% | 88.0% | 89.9% | 91.4% | 93.2% | 94.0% | 90.6% |
20 | 6846 | Cherry Glen | 93.5% | 92.3% | 89.7% | 93.1% | 94.9% | 94.9% | 93.1% |
21 | 6721 | Olivewood | 90.5% | 90.0% | 92.0% | 92.4% | 92.4% | 95.3% | 92.1% |
22 | 6695 | Annhurst | 91.8% | 94.3% | 95.5% | 94.5% | 98.8% | 98.8% | 95.6% |
23 | 6657 | Willow Run - New Albany | 86.4% | 86.6% | 90.7% | 91.4% | 92.4% | 95.3% | 90.5% |
24 | 6651 | Stonehenge | 94.4% | 94.3% | 95.2% | 96.9% | 95.0% | 95.0% | 95.1% |
25 | 6550 | Applegate | 92.0% | 89.7% | 85.8% | 91.5% | 91.5% | 93.1% | 90.6% |
26 | 6786 | Spicewood | 90.3% | 93.1% | 93.1% | 95.7% | 98.0% | 98.0% | 94.7% |
27 | 8209 | Indian Lake I | 92.2% | 92.3% | 88.7% | 89.6% | 87.0% | 90.5% | 90.1% |
28 | 8486 | Stewart Way 1 | 87.3% | 82.5% | 86.8% | 78.8% | 85.6% | 90.5% | 85.3% |
29 | 8149 | Harbinwood | 97.4% | 96.8% | 96.2% | 96.5% | 95.9% | 97.2% | 96.7% |
30 | 8112 | Meadowland | 97.1% | 95.6% | 97.9% | 96.6% | 95.1% | 96.7% | 96.5% |
31 | 8120 | Oakley Woods | 96.2% | 94.6% | 91.4% | 92.2% | 90.0% | 90.0% | 92.4% |
32 | 8140 | Carriage Hill | 91.1% | 92.8% | 90.7% | 92.4% | 87.1% | 90.0% | 90.7% |
33 | 8139 | Timberwood | 94.0% | 90.7% | 89.8% | 93.2% | 93.7% | 98.3% | 93.3% |
34 | 8124 | Barrington | 97.9% | 99.2% | 98.5% | 96.0% | 94.0% | 100.0% | 97.6% |
Totals | 91.6% | 91.1% | 89.7% | 90.8% | 91.9% | 94.7% | 91.6% |
ALA Summary
# | FINAL Senior | FINAL Mezz | FINAL Total | % | |||||||
# | ID | Property Name | City | State | Units | ALA | ALA | ALA | UW Stab Expense | UW NCF | Total |
1 | 6109 | Cedargate Lancaster | Lancaster | OH | 157 | $8,716,764 | $658,825 | $9,375,590 | $527,836 | $799,663 | 5.0% |
2 | 6824 | Amesbury | Reynoldsburg | OH | 149 | $8,143,264 | $615,479 | $8,758,744 | $444,739 | $749,396 | 4.7% |
3 | 6297 | Plumwood | Columbus | OH | 143 | $7,015,723 | $530,258 | $7,545,981 | $555,293 | $652,461 | 4.1% |
4 | 6847 | Red Deer | Fairborn | OH | 131 | $7,738,091 | $584,856 | $8,322,947 | $448,710 | $716,772 | 4.5% |
5 | 6647 | Cedargate | Clayton | OH | 130 | $6,384,900 | $482,580 | $6,867,479 | $523,031 | $593,291 | 3.7% |
6 | 6402 | Millburn Court | Centerville | OH | 115 | $5,744,439 | $434,173 | $6,178,611 | $475,954 | $534,716 | 3.4% |
7 | 6505 | Camelia Court | Dayton | OH | 110 | $6,830,258 | $516,240 | $7,346,499 | $331,204 | $631,053 | 4.0% |
8 | 6751 | Winthrop Court | Columbus | OH | 100 | $5,324,881 | $402,462 | $5,727,343 | $414,765 | $492,399 | 3.1% |
9 | 6322 | Parkville | Columbus | OH | 100 | $4,052,081 | $306,262 | $4,358,343 | $393,193 | $375,269 | 2.4% |
10 | 6735 | Rosewood Apartments | Columbus | OH | 89 | $5,597,108 | $423,037 | $6,020,146 | $309,169 | $514,975 | 3.2% |
11 | 6814 | Ashford Hills | Reynoldsburg | OH | 77 | $4,204,287 | $317,766 | $4,522,053 | $309,173 | $391,207 | 2.5% |
12 | 6946 | Amberwood - Massillion | Massillon | OH | 63 | $3,015,071 | $227,883 | $3,242,954 | $248,591 | $278,508 | 1.7% |
13 | 6761 | Sherbrook | Columbus | OH | 60 | $2,965,344 | $224,125 | $3,189,468 | $276,873 | $275,547 | 1.7% |
14 | 6642 | Stonehenge Apartments | Massillon | OH | 60 | $2,897,713 | $219,013 | $3,116,727 | $226,497 | $268,012 | 1.7% |
15 | 6535 | Greenglen II | Springfield Township | OH | 58 | $2,518,304 | $190,337 | $2,708,641 | $212,357 | $235,912 | 1.5% |
16 | 6531 | Andover Court | Mount Vernon | OH | 51 | $2,542,118 | $192,137 | $2,734,255 | $204,632 | $234,207 | 1.5% |
17 | 6630 | Sandalwood | Toledo | OH | 50 | $2,435,099 | $184,048 | $2,619,147 | $189,739 | $227,912 | 1.4% |
18 | 6576 | Meadowood - Mansfield | Mansfield | OH | 50 | $1,728,477 | $130,641 | $1,859,118 | $201,894 | $164,074 | 1.0% |
19 | 6804 | Cambridge Commons | Indianapolis | IN | 235 | $12,004,836 | $907,342 | $12,912,178 | $794,613 | $1,098,518 | 6.9% |
20 | 6846 | Cherry Glen | Indianapolis | IN | 137 | $7,261,790 | $548,856 | $7,810,646 | $505,671 | $667,243 | 4.2% |
21 | 6721 | Olivewood | Indianapolis | IN | 128 | $7,347,948 | $555,368 | $7,903,316 | $440,764 | $678,188 | 4.3% |
22 | 6695 | Annhurst | Indianapolis | IN | 83 | $4,628,218 | $349,807 | $4,978,025 | $311,466 | $428,284 | 2.7% |
23 | 6657 | Willow Run - New Albany | New Albany | IN | 64 | $4,093,189 | $309,369 | $4,402,558 | $219,510 | $375,059 | 2.4% |
24 | 6651 | Stonehenge | Indianapolis | IN | 60 | $3,485,382 | $263,430 | $3,748,812 | $234,895 | $323,378 | 2.0% |
25 | 6550 | Applegate | Columbus | IN | 58 | $3,514,638 | $265,641 | $3,780,279 | $239,997 | $326,301 | 2.1% |
26 | 6786 | Spicewood | Indianapolis | IN | 49 | $2,430,003 | $183,663 | $2,613,666 | $184,388 | $228,503 | 1.4% |
27 | 8209 | Indian Lake I | Morrow | GA | 243 | $10,657,847 | $805,535 | $11,463,382 | $1,023,697 | $1,003,633 | 6.3% |
28 | 8486 | Stewart Way 1 | Hinesville | GA | 190 | $9,885,988 | $747,197 | $10,633,185 | $706,017 | $916,244 | 5.8% |
29 | 8149 | Harbinwood | Norcross | GA | 72 | $4,120,427 | $311,428 | $4,431,854 | $334,467 | $383,797 | 2.4% |
30 | 8112 | Meadowland | Bogart | GA | 60 | $3,405,837 | $257,418 | $3,663,255 | $245,105 | $317,949 | 2.0% |
31 | 8120 | Oakley Woods | Union City | GA | 60 | $2,876,704 | $217,425 | $3,094,129 | $303,327 | $253,865 | 1.6% |
32 | 8140 | Carriage Hill | Dublin | GA | 60 | $2,782,097 | $210,275 | $2,992,372 | $217,451 | $256,794 | 1.6% |
33 | 8139 | Timberwood | Perry | GA | 60 | $3,014,790 | $227,862 | $3,242,652 | $232,282 | $279,451 | 1.8% |
34 | 8124 | Barrington | Clarkston | GA | 47 | $2,636,384 | $199,262 | $2,835,645 | $198,662 | $242,959 | 1.5% |
Totals | 3,299 | $172,000,000 | $13,000,000 | $185,000,000 | $12,485,963 | $15,915,538 | 100.0% |
Appraisal Summary
Appraised | App | ||||||
# | ID | Property Name | Units | Value | $/Unit | Cap Rate | Vac % |
1 | 6109 | Cedargate Lancaster | 157 | $14,000,000 | $89,172 | 6.00% | 5.00% |
2 | 6824 | Amesbury | 149 | $13,900,000 | $93,289 | 6.00% | 5.00% |
3 | 6297 | Plumwood | 143 | $12,600,000 | $88,112 | 5.00% | 5.00% |
4 | 6847 | Red Deer | 131 | $12,200,000 | $93,130 | 6.00% | 5.00% |
5 | 6647 | Cedargate | 130 | $10,700,000 | $82,308 | 6.00% | 5.00% |
6 | 6402 | Millburn Court | 115 | $9,700,000 | $84,348 | 6.25% | 5.00% |
7 | 6505 | Camelia Court | 110 | $9,400,000 | $85,455 | 6.50% | 5.00% |
8 | 6751 | Winthrop Court | 100 | $8,900,000 | $89,000 | 5.75% | 5.00% |
9 | 6322 | Parkville | 100 | $8,500,000 | $85,000 | 5.25% | 5.00% |
10 | 6735 | Rosewood Apartments | 89 | $8,100,000 | $91,011 | 6.50% | 5.00% |
11 | 6814 | Ashford Hills | 77 | $6,800,000 | $88,312 | 6.00% | 5.00% |
12 | 6946 | Amberwood - Massillion | 63 | $4,700,000 | $74,603 | 6.00% | 5.00% |
13 | 6761 | Sherbrook | 60 | $5,400,000 | $90,000 | 5.75% | 5.00% |
14 | 6642 | Stonehenge Apartments | 60 | $4,700,000 | $78,333 | 6.00% | 5.00% |
15 | 6535 | Greenglen II | 58 | $4,200,000 | $72,414 | 6.00% | 5.00% |
16 | 6531 | Andover Court | 51 | $4,100,000 | $80,392 | 6.00% | 5.00% |
17 | 6630 | Sandalwood | 50 | $3,700,000 | $74,000 | 6.00% | 5.00% |
18 | 6576 | Meadowood - Mansfield | 50 | $3,200,000 | $64,000 | 6.00% | 4.00% |
19 | 6804 | Cambridge Commons | 235 | $20,500,000 | $87,234 | 6.00% | 6.00% |
20 | 6846 | Cherry Glen | 137 | $11,100,000 | $81,022 | 6.00% | 6.00% |
21 | 6721 | Olivewood | 128 | $11,800,000 | $92,188 | 6.00% | 5.00% |
22 | 6695 | Annhurst | 83 | $7,600,000 | $91,566 | 6.00% | 5.00% |
23 | 6657 | Willow Run - New Albany | 64 | $5,500,000 | $85,938 | 6.50% | 6.00% |
24 | 6651 | Stonehenge | 60 | $5,800,000 | $96,667 | 6.00% | 5.00% |
25 | 6550 | Applegate | 58 | $5,000,000 | $86,207 | 6.50% | 6.00% |
26 | 6786 | Spicewood | 49 | $4,000,000 | $81,633 | 6.00% | 5.00% |
27 | 8209 | Indian Lake I | 243 | $19,100,000 | $78,601 | 6.36% | 5.00% |
28 | 8486 | Stewart Way 1 | 190 | $16,800,000 | $88,421 | 7.24% | 5.00% |
29 | 8149 | Harbinwood | 72 | $5,975,000 | $82,986 | 6.20% | 5.00% |
30 | 8112 | Meadowland | 60 | $4,900,000 | $81,667 | 6.40% | 5.00% |
31 | 8120 | Oakley Woods | 60 | $5,000,000 | $83,333 | 6.30% | 5.00% |
32 | 8140 | Carriage Hill | 60 | $4,200,000 | $70,000 | 6.50% | 5.00% |
33 | 8139 | Timberwood | 60 | $4,700,000 | $78,333 | 5.75% | 5.00% |
34 | 8124 | Barrington | 47 | $3,850,000 | $81,915 | 6.20% | 5.00% |
Totals | 3,299 | $280,625,000 | $85,064 |
Historical Occupancy by Property
September | ||||||||
# | ID | Property Name | 2017 | 2018 | 2019 | 2020 | 2021 | 5-yr Avg |
1 | 6109 | Cedargate Lancaster | 92.4% | 92.1% | 92.1% | 90.3% | 94.3% | 92.2% |
2 | 6824 | Amesbury | 88.1% | 93.3% | 87.3% | 93.7% | 93.3% | 91.1% |
3 | 6297 | Plumwood | 91.3% | 92.2% | 86.7% | 87.1% | 91.6% | 89.8% |
4 | 6847 | Red Deer | 92.8% | 90.9% | 87.5% | 89.0% | 95.4% | 91.2% |
5 | 6647 | Cedargate | 94.8% | 91.2% | 90.0% | 91.0% | 94.6% | 92.3% |
6 | 6402 | Millburn Court | 91.8% | 89.2% | 88.3% | 93.2% | 100.0% | 92.5% |
7 | 6505 | Camelia Court | 87.2% | 85.9% | 85.5% | 87.5% | 95.5% | 88.3% |
8 | 6751 | Winthrop Court | 94.8% | 93.6% | 87.9% | 88.7% | 96.0% | 92.2% |
9 | 6322 | Parkville | 90.6% | 92.7% | 78.4% | 87.2% | 96.0% | 89.0% |
10 | 6735 | Rosewood Apartments | 93.2% | 92.4% | 95.0% | 91.1% | 98.9% | 94.1% |
11 | 6814 | Ashford Hills | 94.9% | 96.1% | 94.5% | 95.0% | 96.1% | 95.3% |
12 | 6946 | Amberwood - Massillion | 93.6% | 92.6% | 90.2% | 92.5% | 95.2% | 92.8% |
13 | 6761 | Sherbrook | 91.7% | 94.2% | 93.0% | 94.0% | 93.3% | 93.3% |
14 | 6642 | Stonehenge Apartments | 90.6% | 87.3% | 88.7% | 90.2% | 96.7% | 90.7% |
15 | 6535 | Greenglen II | 89.0% | 89.5% | 85.5% | 91.7% | 98.3% | 90.8% |
16 | 6531 | Andover Court | 94.4% | 89.5% | 88.8% | 87.3% | 96.1% | 91.2% |
17 | 6630 | Sandalwood | 88.0% | 89.5% | 87.1% | 89.3% | 96.0% | 90.0% |
18 | 6576 | Meadowood - Mansfield | 94.4% | 93.2% | 92.0% | 92.3% | 96.0% | 93.6% |
19 | 6804 | Cambridge Commons | 87.3% | 88.0% | 89.9% | 91.4% | 94.0% | 90.1% |
20 | 6846 | Cherry Glen | 93.5% | 92.3% | 89.7% | 93.1% | 94.9% | 92.7% |
21 | 6721 | Olivewood | 90.5% | 90.0% | 92.0% | 92.4% | 95.3% | 92.0% |
22 | 6695 | Annhurst | 91.8% | 94.3% | 95.5% | 94.5% | 98.8% | 95.0% |
23 | 6657 | Willow Run - New Albany | 86.4% | 86.6% | 90.7% | 91.4% | 95.3% | 90.1% |
24 | 6651 | Stonehenge | 94.4% | 94.3% | 95.2% | 96.9% | 95.0% | 95.2% |
25 | 6550 | Applegate | 92.0% | 89.7% | 85.8% | 91.5% | 93.1% | 90.4% |
26 | 6786 | Spicewood | 90.3% | 93.1% | 93.1% | 95.7% | 98.0% | 94.1% |
27 | 8209 | Indian Lake I | 92.2% | 92.3% | 88.7% | 89.6% | 90.5% | 90.7% |
28 | 8486 | Stewart Way 1 | 87.3% | 82.5% | 86.8% | 78.8% | 90.5% | 85.2% |
29 | 8149 | Harbinwood | 97.4% | 96.8% | 96.2% | 96.5% | 97.2% | 96.8% |
30 | 8112 | Meadowland | 97.1% | 95.6% | 97.9% | 96.6% | 96.7% | 96.8% |
31 | 8120 | Oakley Woods | 96.2% | 94.6% | 91.4% | 92.2% | 90.0% | 92.9% |
32 | 8140 | Carriage Hill | 91.1% | 92.8% | 90.7% | 92.4% | 90.0% | 91.4% |
33 | 8139 | Timberwood | 94.0% | 90.7% | 89.8% | 93.2% | 98.3% | 93.2% |
34 | 8124 | Barrington | 97.9% | 99.2% | 98.5% | 96.0% | 100.0% | 98.3% |
Totals | 91.6% | 91.1% | 89.7% | 90.8% | 94.7% | 91.6% |
Historical Capex by Property
Capex | ||||||||
# | ID | Property Name | Interior | Exterior | Roof | Other | Totals | $/Unit |
1 | 6109 | Cedargate Lancaster | $123,707 | $82,897 | $63,679 | $23,041 | $293,324 | $1,868 |
2 | 6824 | Amesbury | $106,272 | $27,206 | $73,348 | $4,485 | $211,311 | $1,418 |
3 | 6297 | Plumwood | $141,575 | $46,721 | $12,900 | $16,088 | $217,284 | $1,519 |
4 | 6847 | Red Deer | $102,347 | $16,870 | $32,773 | $11,113 | $163,103 | $1,245 |
5 | 6647 | Cedargate | $94,092 | $20,310 | $8,665 | $445 | $123,512 | $950 |
6 | 6402 | Millburn Court | $100,688 | $16,099 | $35,485 | $3,549 | $155,821 | $1,355 |
7 | 6505 | Camelia Court | $98,420 | $12,423 | $7,100 | $25,967 | $143,910 | $1,308 |
8 | 6751 | Winthrop Court | $97,530 | $39,540 | $15,320 | $5,772 | $158,162 | $1,582 |
9 | 6322 | Parkville | $107,462 | $35,469 | $80,100 | $7,032 | $230,063 | $2,301 |
10 | 6735 | Rosewood Apartments | $55,608 | $28,584 | $73,178 | $26,079 | $183,449 | $2,061 |
11 | 6814 | Ashford Hills | $49,812 | $38,066 | $27,861 | $5,051 | $120,790 | $1,569 |
12 | 6946 | Amberwood - Massillion | $52,964 | $23,761 | $13,155 | $0 | $89,880 | $1,427 |
13 | 6761 | Sherbrook | $36,940 | $12,640 | $26,177 | $22,071 | $97,828 | $1,630 |
14 | 6642 | Stonehenge Apartments | $52,240 | $25,232 | $10,917 | $29,190 | $117,579 | $1,960 |
15 | 6535 | Greenglen II | $33,968 | $14,065 | $16,130 | $8,864 | $73,027 | $1,259 |
16 | 6531 | Andover Court | $29,983 | $9,550 | $35,295 | $12,290 | $87,118 | $1,708 |
17 | 6630 | Sandalwood | $38,251 | $16,441 | $27,466 | $17,369 | $99,527 | $1,991 |
18 | 6576 | Meadowood - Mansfield | $25,323 | $5,045 | $31,308 | $31,224 | $92,900 | $1,858 |
19 | 6804 | Cambridge Commons | $279,420 | $196,122 | $97,315 | $25,367 | $598,224 | $2,546 |
20 | 6846 | Cherry Glen | $134,120 | $46,332 | $8,805 | $0 | $189,257 | $1,381 |
21 | 6721 | Olivewood | $133,133 | $112,259 | $62,507 | $1,086 | $308,985 | $2,414 |
22 | 6695 | Annhurst | $94,721 | $51,096 | $41,975 | $1,072 | $188,864 | $2,275 |
23 | 6657 | Willow Run - New Albany | $54,299 | $40,326 | $40,135 | $15,683 | $150,443 | $2,351 |
24 | 6651 | Stonehenge | $50,799 | $39,825 | $6,815 | $157 | $97,596 | $1,627 |
25 | 6550 | Applegate | $95,924 | $30,119 | $8,440 | $1,962 | $136,445 | $2,353 |
26 | 6786 | Spicewood | $45,485 | $28,866 | $0 | $621 | $74,972 | $1,530 |
27 | 8209 | Indian Lake I | $164,194 | $118,422 | $77,987 | $27,851 | $388,454 | $1,599 |
28 | 8486 | Stewart Way 1 | $191,624 | $45,689 | $20,052 | $43,489 | $300,854 | $1,583 |
29 | 8149 | Harbinwood | $71,611 | $39,740 | $37,293 | $35,954 | $184,598 | $2,564 |
30 | 8112 | Meadowland | $53,879 | $39,698 | $25,123 | $14,330 | $133,030 | $2,217 |
31 | 8120 | Oakley Woods | $71,560 | $23,608 | $0 | $11,591 | $106,759 | $1,779 |
32 | 8140 | Carriage Hill | $55,691 | $45,998 | $14,750 | $1,466 | $117,905 | $1,965 |
33 | 8139 | Timberwood | $69,725 | $14,515 | $34,290 | $12,848 | $131,378 | $2,190 |
34 | 8124 | Barrington | $50,921 | $38,776 | $25,315 | $34,873 | $149,885 | $3,189 |
Totals | $2,964,288 | $1,382,310 | $1,091,659 | $477,980 | $5,916,237 | $1,793 |
PCA Summary
Ongoing Replacement | LENDER | ||||
# | ID | Property Name | Reserves (Inflated) | Ongoing/Unit/Year | RESERVE Ongoing |
1 | 6109 | Cedargate Lancaster | $416,232 | $221 | $300 |
2 | 6824 | Amesbury | $373,065 | $209 | $300 |
3 | 6297 | Plumwood | $363,083 | $212 | $300 |
4 | 6847 | Red Deer | $369,189 | $235 | $300 |
5 | 6647 | Cedargate | $376,478 | $241 | $300 |
6 | 6402 | Millburn Court | $350,872 | $254 | $300 |
7 | 6505 | Camelia Court | $304,829 | $231 | $300 |
8 | 6751 | Winthrop Court | $242,150 | $202 | $300 |
9 | 6322 | Parkville | $361,666 | $301 | $300 |
10 | 6735 | Rosewood Apartments | $231,430 | $217 | $300 |
11 | 6814 | Ashford Hills | $232,343 | $251 | $300 |
12 | 6946 | Amberwood - Massillion | $186,672 | $247 | $300 |
13 | 6761 | Sherbrook | $191,477 | $266 | $300 |
14 | 6642 | Stonehenge Apartments | $169,267 | $235 | $300 |
15 | 6535 | Greenglen II | $190,919 | $274 | $300 |
16 | 6531 | Andover Court | $146,374 | $239 | $300 |
17 | 6630 | Sandalwood | $152,134 | $254 | $300 |
18 | 6576 | Meadowood - Mansfield | $176,373 | $294 | $300 |
19 | 6804 | Cambridge Commons | $633,422 | $225 | $300 |
20 | 6846 | Cherry Glen | $380,146 | $231 | $300 |
21 | 6721 | Olivewood | $356,265 | $232 | $300 |
22 | 6695 | Annhurst | $273,765 | $275 | $300 |
23 | 6657 | Willow Run - New Albany | $205,586 | $268 | $300 |
24 | 6651 | Stonehenge | $165,275 | $230 | $300 |
25 | 6550 | Applegate | $172,871 | $248 | $300 |
26 | 6786 | Spicewood | $153,123 | $260 | $300 |
27 | 8209 | Indian Lake I | $1,078,306 | $370 | $300 |
28 | 8486 | Stewart Way 1 | $696,318 | $305 | $300 |
29 | 8149 | Harbinwood | $287,273 | $332 | $300 |
30 | 8112 | Meadowland | $247,748 | $344 | $300 |
31 | 8120 | Oakley Woods | $191,595 | $266 | $300 |
32 | 8140 | Carriage Hill | $206,817 | $287 | $300 |
33 | 8139 | Timberwood | $220,200 | $306 | $300 |
34 | 8124 | Barrington | $155,878 | $276 | $300 |
Totals | $10,259,141 | $259 | $300 |
Phase I
Report | Total | ||||||||
# | ID | Property Name | Date | REC | CREC | HREC | O & M | Cost | Description / Recommendation |
1 | 6109 | Cedargate Lancaster | 10/01/2021 | None | None | None | ACM, LBP | $0 | N/A |
2 | 6824 | Amesbury | 10/01/2021 | None | None | None | None | $0 | N/A |
3 | 6297 | Plumwood | 10/01/2021 | None | None | None | ACM, LBP | $0 | ST radon testing in all units recommended; Please note, Lender will have Environmental Insurance & a Radon O&M has been implemented at closing. |
4 | 6847 | Red Deer | 10/01/2021 | None | None | None | None | $0 | ST radon testing in all units recommended; Please note, Lender will have Environmental Insurance & a Radon O&M has been implemented at closing. |
5 | 6647 | Cedargate | 10/01/2021 | None | None | None | None | $0 | ST radon testing in all units recommended; Please note, Lender will have Environmental Insurance & a Radon O&M has been implemented at closing. |
6 | 6402 | Millburn Court | 10/01/2021 | None | None | None | ACM, MMP | $0 | Remove suspect mold growth observed around AC/heating unit in Apt 8508. Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. |
7 | 6505 | Camelia Court | 10/01/2021 | None | None | None | None | $0 | N/A |
8 | 6751 | Winthrop Court | 10/01/2021 | None | None | None | None | $0 | Clean up mold growth in bathroom in Apt 2470 and correct the source of the water intrusion. Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. |
9 | 6322 | Parkville | 10/01/2021 | None | None | None | ACM, LBP | $0 | N/A |
10 | 6735 | Rosewood Apartments | 10/01/2021 | None | None | None | None | $0 | N/A |
11 | 6814 | Ashford Hills | 10/01/2021 | None | None | None | None | $0 | Active subterranean pipeline crosses the property; no action recommended |
12 | 6946 | Amberwood - Massillion | 10/01/2021 | None | None | None | None | $0 | N/A |
13 | 6761 | Sherbrook | 10/01/2021 | None | None | None | None | $0 | Wetlands on west/south portions of property. Should development planned, applicable agencies should be contacted |
14 | 6642 | Stonehenge Apartments | 10/01/2021 | None | None | None | None | $0 | N/A |
15 | 6535 | Greenglen II | 10/01/2021 | None | None | None | None | $0 | N/A |
16 | 6531 | Andover Court | 10/01/2021 | None | None | None | None | $0 | N/A |
17 | 6630 | Sandalwood | 10/01/2021 | None | None | None | None | $0 | N/A |
18 | 6576 | Meadowood - Mansfield | 10/01/2021 | None | None | None | None | $0 | N/A |
19 | 6804 | Cambridge Commons | 10/01/2021 | None | None | None | None | $0 | N/A |
20 | 6846 | Cherry Glen | 10/01/2021 | None | None | None | None | $0 | N/A |
21 | 6721 | Olivewood | 10/01/2021 | None | None | None | None | $0 | N/A |
22 | 6695 | Annhurst | 10/01/2021 | None | None | None | None | $0 | Active subterranean pipeline crosses the property; no action recommended |
23 | 6657 | Willow Run - New Albany | 10/01/2021 | None | None | None | None | $0 | N/A |
24 | 6651 | Stonehenge | 10/01/2021 | None | None | None | None | $0 | N/A |
25 | 6550 | Applegate | 10/01/2021 | None | None | None | None | $0 | N/A |
26 | 6786 | Spicewood | 10/01/2021 | None | None | None | ACM | $0 | Minor water damage in apt 362, undergoing reno; damage not widespread/no mold observed; no action recommended. Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. |
27 | 8209 | Indian Lake I | 10/01/2021 | None | None | None | None | $0 | Mold growth/condusive mold conditions in 10 units observed; Mus be removed and repairs to address water intruction recommended. Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. |
28 | 8486 | Stewart Way 1 | 10/01/2021 | None | None | None | MMP | $0 | Remove/remediate mold in 3 units; Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. Decomission the Irrigation Wells at the Property within 180 days if closing. |
29 | 8149 | Harbinwood | 10/01/2021 | None | None | None | MMP | $0 | Cleanup of visible suspect mold in bathroom of Unit 5650. Please note, Lender will require remediation as part of the Post-Closing Agreement and an MMP has been implemented at Closing. In addition, the Environmental Insurance will be in-place at Closing. |
30 | 8112 | Meadowland | 10/01/2021 | None | None | None | None | $0 | N/A |
31 | 8120 | Oakley Woods | 10/01/2021 | None | None | None | MMP | $0 | ST radon testing in all units recommended; remove/remediate mold/condusive mold conditions in units 30, 33, 47. Please note, Lender will have Environmental Insurance & a Radon O&M has been implemented at closing. |
32 | 8140 | Carriage Hill | 10/01/2021 | None | None | None | None | $0 | N/A |
33 | 8139 | Timberwood | 10/01/2021 | None | None | None | None | $0 | N/A |
34 | 8124 | Barrington | 10/01/2021 | None | None | None | None | $0 | N/A |
Totals | $0 |
Line Item | Initial | Monthly |
Real Estate Tax Reserve | $715,487 | $168,641 |
Insurance Reserve | $403,757 | $100,786 |
Immediate Repair Reserve | $756,042 | - |
Replacement Reserve | $500,000 | $82,475 |
Total | $2,375,287 | $351,902 |
Property | Category | Item | Time to Cure | Quantity | Reserve |
Cedargate Lancaster | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs | 240 days | 1 | $14,850 |
Cedargate Lancaster | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway deterioration, cracking and differential settlement throughout the Property. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 1 | $3,850 |
Cedargate Lancaster | Electrical Systems | Due to potential safety considerations and the inability to purchase replacement parts, AEI recommends immediate replacement of all FPE Stab-Lok circuit breaker panels at the Property. | 180 days | 47 | $38,775 |
Cedargate Lancaster | ADA Accessibility | Provide adequate number of handicapped-accessibleparking stalls and signage for vans | 60 days | 1 | $990 |
Amesbury | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs; particularly near the office and the mail boxes | 240 days | 1 | $6,600 |
Amesbury | Sidewalks, Curbing, Site Steps, and Ramps | Repair damaged concrete flatwork; throught property but particularly near the leasing office | 180 days | 500 | $3,575 |
Amesbury | Landscaping, Fencing, Signage, Site Lighting | Trim Trees | 240 days | 1 | $2,750 |
Amesbury | ADA Accessibility | Provide adequate number of handicapped-accessible parking stalls and signage for vans. Provide handicapped access to the leasing office. | 60 days | 1 | $495 |
Plumwood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, cracks supporting weed growth, edge crumbling, potholes, surface ruts, surface depressions, and loose aggregate, in all areas. Pavement repairs are recommended. Due to the severity of the deficiencies it appears that full-depth replacement is warranted. | 240 days | 78,810 SF | $35,760 |
Plumwood | Site Access, Parking, Pavement | Seal coat and restripe after asphalt repairs are made. | 240 days | 78,810 SF | $10,403 |
Plumwood | Landscaping, Fencing, Signage, Site Lighting | Small concrete patios have approximately 24 lineal feet of wood fencing 3 feet high surrounding them. Approximately 10% of the wood fencing members are in need of replacement across the site. | 240 days | 352 | $8,712 |
Plumwood | Landscaping, Fencing, Signage, Site Lighting | AEI observed damaged chain link fencing along the perimeter boundaries. AEI recommends repairing or replacing the damaged chain link fence immediately. | 240 days | 125 | $3,438 |
Plumwood | Cladding | AEI observed damaged masonry in the form of excessively weathered, cracked and cladding in one location, separating from one location and missing and deteriorated bricks were observed at one perimeter wall. Structure Engineer should be hired to evaluate damaged areas. | 240 days | 1 | $3,850 |
Red Deer | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $13,750 |
Red Deer | Site Amenities | The tennis court has reportedly been out of use for at least 8 years. The tennis court should be resurfaced and painted in order to allow for use and limit any potential safety hazards. | 240 days | 1 | $3,850 |
Red Deer | ADA Accessibility | No van accessible signage was identified. Install van accessible sign. | 60 days | 1 | $165 |
Cedargate | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement in isolated areas throughout the Property. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 1 | $1,650 |
Cedargate | Other Site Structures | AEI observed damage to the maintenance shed roofing and siding. Repairs to address damaged components is recommended. | 240 days | 1 | $3,850 |
Cedargate | Cladding | AEI observed isolated areas of wood rot in the wood trim on some buildings. Repair of the damage is recommended. | 240 days | 1 | $2,750 |
Cedargate | Down Units | Restore Unit 20 (Fire damage from a fire in the Spring of 2021). | 240 days | 1 | $16,500 |
Cedargate | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 8,000 SF | $14,520 |
Millburn Court | ADA Accessibility | Install van accessible sign at leasing office, per ADA regulations. | 60 days | 1 | $165 |
Camellia Court | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $13,200 |
Camellia Court | Cladding | AEI observed isolated areas of wood rot and chipped painting throughout the Property. Repair of the damage is recommended. | 240 days | 1 | $3,850 |
Camellia Court | ADA Accessibility | No van accessible signage was identified. Install van accessible signage. | 60 days | 1 | $275 |
Winthrop Court | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, cracks supporting weed growth, edge crumbling, potholes, surface ruts, surface depressions, and loose aggregate, throughout all parking areas. Pavement repairs are recommended. | 240 days | 1 | $34,100 |
Winthrop Court | Landscaping, Fencing, Signage, Site Lighting | AEI observed deteriorated patio fencing in multiple locations. The fencing requires replacement of a number of boards on several fences. Wooden dumpster enclosures were deteriorated and falling down to the extent that they all need to be completely replaced. Replace wood board (3’ high) | 240 days | 1 | $4,950 |
Winthrop Court | Landscaping, Fencing, Signage, Site Lighting | AEI observed deteriorated patio fencing in multiple locations. The fencing requires replacement of a number of boards on several fences. Wooden dumpster enclosures were deteriorated and falling down to the extent that they all need to be completely replaced. Replace wood board (4’ high) | 240 days | 1 | $3,520 |
Winthrop Court | Fire Protection and Life Safety Systems | Install 21 fire extinguishers in following areas; the laundry room, maintenance shed, storage room, the leasing office and at apartment building exterior common areas. | 60 days | 21 | $1,155 |
Winthrop Court | ADA Accessibility | ADA compliance study needs to be done to identify accessibility issues at leasing office and develop recommendations; leasing office has stairs leading up to door and does not have an accessible ADA compliant toilet room | 60 days | 1 | $5,500 |
Parkville | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, cracks supporting weed growth, edge crumbling, potholes, surface ruts, surface depressions, and loose aggregate. Pavement repairs are recommended. | 240 days | 1 | $15,950 |
Parkville | Landscaping, Fencing, Signage, Site Lighting | Small concrete patios have approximately 24 lineal feet of wood fencing 3 feet high surrounding them. Approximately 10% of the wood fencing members are in need of replacement across the site. | 240 days | 1 | $4,180 |
Parkville | Landscaping, Fencing, Signage, Site Lighting | Dumpster enclosures were in fair condition with wood fencing missing and falling down in need of repair and replacing. (4’ high wood board) | 240 days | 1 | $1,375 |
Parkville | Common Area Amenities | Refurbish laundry areas; new flooring and painting recommended | 240 days | 1 | $4,400 |
Parkville | ADA Accessibility | Installation of a ramp leading up to the leasing office is recommended, Installation of a ADA compliant public restroom in leasing office, and Add ADA van signage at leasing office | 60 days | 1 | $3,300 |
Rosewood | Topography, Storm Water Drainage, and Retaining Walls | AEI observed decayed wood railroad ties overgrown with moss at the retaining walls at the southwest perimeter and at elevation changes throughout the property that should be removed | 240 days | 1 | $2,200 |
Rosewood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $12,100 |
Rosewood | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement throughout in particular near the leasing office. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 400 | $2,860 |
Rosewood | Landscaping, Fencing, Signage, Site Lighting | Trim Trees | 240 days | 1 | $3,300 |
Rosewood | ADA Accessibility | Add van accessible parking at leasing office and add ADA signage for vans | 60 days | 1 | $495 |
Ashford Hills | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement throughout in particular near the leasing office. The uneven flatwork represents a trip hazard and repairs are recommended | 180 days | 1 | $2,420 |
Ashford Hills | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including overgrown trees at most of the building. Due to the significant number of mature tress, trimming in order to avoid accelerated deterioration of roofs and facades, is recommended | 240 days | 1 | $3,300 |
Ashford Hills | Cladding | AEI observed warping of the wood siding at one of the buildings. It is recommended to repair the damage in order to avoid water intrusion | 240 days | 1 | $1,650 |
Ashford Hills | ADA Accessibility | Provide adequate number of handicapped-accessibleparking stalls and signage for vans | 60 days | 1 | $990 |
Ashford Hills | ADA Accessibility | The leasing office does not appear to be HC accessible since it is a converted apartment unit. ADA study to design leasing office and restroom needed | 60 days | 1 | $1,650 |
Amberwood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $11,550 |
Amberwood | ADA Accessibility | Provide adequate number of handicapped-accessible parking stalls and signage for vans | 60 days | 1 | $495 |
Sherbrook | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs throughout; particularly at southern section of Guinevere Drive and between buildings 6614 and 6807. | 240 days | 2,000 SF | $6,050 |
Sherbrook | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement throughout in particular near the leasing office. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 500 SF | $3,575 |
Sherbrook | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including overgrown trees at most of the building. Due to the significant number of mature tress, trimming in order to avoid accelerated deterioration of roofs and facades, is recommended. | 240 days | 1 | $2,750 |
Sherbrook | Cladding | AEI observed damaged wood trim elements in the form of weathered, worn and deteriorated trim and fascia wood boards. Repair of the damage is recommended. | 240 days | 1,200 SF | $3,960 |
Sherbrook | ADA Accessibility | Provide adequate number of handicapped-accessible parking stalls and signage for vans. Provide handicapped access to the leasing office. | 60 days | 1 | $495 |
Stonehenge (Ohio) | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $11,000 |
Stonehenge (Ohio) | Cladding | AEI observed isolated areas of wood rot in the wood trim on some building. Repair of the damage is recommended | 240 days | 1 | $2,750 |
Stonehenge (Ohio) | ADA Accessibility | Install van accessible signage | 60 days | 1 | $165 |
Greenglen II | Topography, Storm Water Drainage, and Retaining Walls | AEI observed surface erosion in scattered areas, including west portion of building 2014 and near apartment 119. Improved erosion control measures are recommended where warranted. | 240 days | 500 SF | $1,650 |
Greenglen II | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, surface ruts, and surface depressions. Pavement repairs are recommended. Due to the severity of the deficiencies it appears that partial full-depth replacement is warranted. | 240 days | 12,000 SF | $10,560 |
Greenglen II | Fire Protection and Life Safety Systems | AEI observed no inspection tag on the fire extinguishers. Inspection of the fire extinguishers is recommended. | 240 days | 1 | $550 |
Andover Court | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $9,350 |
Andover Court | ADA Accessibility | Install van accessible signage | 60 days | 1 | $165 |
Sandalwood | Site Access, Parking, Pavement | AEI observed widespread concrete pavement deficiencies including cracking at the north trash pad and south storm drain collar. Pavement repairs are recommended. | 240 days | 500 SF | $3,575 |
Sandalwood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, surface ruts, and surface depressions. Pavement repairs are recommended. Due to the severity of the deficiencies it appears that partial full-depth replacement is warranted. | 240 days | 2,500 SF | $7,563 |
Sandalwood | Landscaping, Fencing, Signage, Site Lighting | AEI observed areas of overgrown vegetation hanging over the roofs at various areas throughout the property. The vegetation should be trimmed to preserve building systems | 240 days | 1 | $2,750 |
Sandalwood | Fire Protection and Life Safety Systems | AEI observed no inspection tag on the fire extinguishers. Inspection of the fire extinguishers is recommended | 240 days | 1 | $550 |
Meadowood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking, surface ruts, and surface depressions. Pavement repairs are recommended. Due to the severity of the deficiencies it appears that partial overlay replacement is warranted. | 240 days | 10,000 SF | $8,800 |
Meadowood | Other Site Structures | The roofing and sliding on the maintenance structure was severely damaged and in need of repair. The structure should be repaired to maintain the integrity of the structure. | 240 days | 1 | $3,850 |
Meadowood | Down Units | Complete renovation/repair of down unit number 40 | 240 days | 1 | $8,250 |
Meadowood | ADA Accessibility | No van accessible signage was identified. “Van Accessible” signage is recommended to be installed. | 60 days | 1 | $330 |
Cherry Glen | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 1 | $26,400 |
Cherry Glen | Down Units | Unit 2662 was damaged by previous tenant; Demolition work for interior finishes, kitchen and bathroom are completed. Interior work to finish the unit into rentable condition is in progress. | 240 days | 1 | $5,500 |
Willow Run | Cladding | There were isolated areas of rotted wood siding observed at most buildings and all elevations. The damaged finishes should be repaired or replaced. | 240 days | 11 | $3,025 |
Stonehenge (Indiana) | Site Access, Parking, Pavement | AEI observed isolated asphalt pavement deficiencies including alligator cracking, cracks supporting weed growth, edge crumbling, potholes, and some surface depressions. Pavement repairs are recommended | 240 days | 6,200 SF | $8,525 |
Applegate | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficiencies including alligator cracking and surface depressions. Perform Full depth Sectional Replacement/ Repairs. | 240 days | 2,500 SF | $4,538 |
Applegate | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements, primarily bare patches of lawn. Replacement of damaged and missing landscaping elements is recommended. | 240 days | 1 | $2,750 |
Spicewood | Site Access, Parking, Pavement | AEI observed a few asphalt pavement deficiencies including alligator cracking, and surface depressions. Limited pavement repairs are recommended. | 240 days | 500 SF | $3,575 |
Spicewood | Site Access, Parking, Pavement | AEI observed a few concrete pavement deficiencies including cracking. Limited concrete repairs are recommended. | 240 days | 1,500 SF | $2,723 |
Spicewood | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement south of buildings 6 and 8. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 200 SF | $1,320 |
Spicewood | Landscaping, Fencing, Signage, Site Lighting | AEI observed deteriorated fencing in multiple locations, including missing wood slats at building 3. Some of the fencing appears to be at or near the end of its EUL, and replacement is recommended. | 240 days | 200 | $1,980 |
Spicewood | Roof Systems | Replace damaged roofs on Blgs 3 and 8. | 240 days | 1 | $11,000 |
Indian Lake | Topography, Storm Water Drainage, and Retaining Walls | Recommend adding splash blocks and installing landscape drains to route stormwater away from buildings 27, 28, 31, and 32. | 240 days | 1 | $3,850 |
Indian Lake | Site Access, Parking, Pavement | Sectional repairs and replacement are recommended at pavement near building 15 and 16, between buildings 10 and 13, and the west perimeter drive. | 240 days | 1,500 SF | $4,125 |
Indian Lake | Landscaping, Fencing, Signage, Site Lighting | Recommend reseeding andscaped areas with sparse groundcover to prevent soil erosion. | 240 days | 1 | $4,400 |
Indian Lake | Framing | Recommend an allowance for the reapir and/or replacement of damaged flooring and structure where applicable. This work should be completed once the cause of the moisture has been addressed. | 240 days | 1 | $17,600 |
Indian Lake | Cladding | AEI observed several sections of damaged and deteriorated compressed wood siding. Based on the tendency of this material to absorb moisture and the observed interior moisture intrusion, sectional replacement is recommended at this time to prevent further moisture intrusion. | 240 days | 5000 SF | $19,250 |
Indian Lake | Cladding | Recommend replacement of damaged sections of fascia board, including buildings 1, 2 and 4, and wherever else present, to prevent moisture intrusion. | 240 days | 1,000 | $4,675 |
Indian Lake | Roof Systems | Recommend that all active roof leaks, including buildings 2 and 16, be repaired as needed to prevent further moisture intrusion. | 240 days | 1 | $16,500 |
Indian Lake | Down Units | Recommend that all repairs are made and moisture damaged is addressed in Unit 331 to bring the unit back to rentable condition. | 240 days | 1 | $11,000 |
Indian Lake | Moisture and Microbial Growth | Recommend a certified mold remediation contractor be consulted to conduct removal of all water-damaged building materials and visible, suspect mold within the affected areas. | 240 days | 1 | $8,250 |
Indian Lake | ADA Accessibility | Recommend adding grab bars adjacent to the toilet area, and modifying where feasible. | 60 days | 1 | $3,300 |
Indian Lake | ADA Accessibility | Recommend installing a van accessible space, striping, and signage. | 60 days | 1 | $990 |
Indian Lake | ADA Accessibility | Recommend installing an alternate entry path. | 60 days | 1 | $330 |
Barrington | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficencies including alligator cracking and surface depressions along the north and northwest sections of the property. Pavement repairs are recommended. | 240 days | 1 | $19,800 |
Barrington | Site Access, Parking, Pavement | The concrete dumpster pads throughout the property exhibited cracking that will require repair during the evaluation period. | 240 days | 1 | $3,080 |
Barrington | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement at multiple buildings (specifically buildings 6 and 4). The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 500 SF | $2,750 |
Barrington | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including bare patches of lawn throughout the property and vegetative overgrowth along the concrete retaining wall at the western section of the property. Replacement of missing landscaping elements and trimming of the vegetative overgrowth is recommended. | 240 days | 1 | $1,733 |
Timberwood | Site Access, Parking, Pavement | There are isolated areas of deterioration, such as alligator cracking, linear cracking, and worn surfaces, located at the parking lot areas. Signs of prior crack-sealing and patch repairs were observed at the paved surfaces. Pavement repairs are recommended to address these deficiencies. | 240 days | 1 | $2,750 |
Timberwood | Cladding | Evidence of wood rot and deterioration was observed at the fascia along some of the roof lines. All buildings should be visually surveyed, and fascia repairs and/or replacement completed for areas of concern along the building exteriors. | 240 days | 150 | $825 |
Carriage Hill | Topography, Storm Water Drainage, and Retaining Walls | The railroad tie retaining wall materials were observed to be in fair to poor condition with signs of rot, deterioration and structural failure. AEI recommends replacement of the deteriorated walls throughout the property. | 240 days | 200 SF | $1,540 |
Carriage Hill | Site Access, Parking, Pavement | There are isolated areas of deterioration, such as alligator cracking and linear cracking located at the parking lot areas. Signs of prior crack-sealing and patch repairs were observed at the paved surfaces. Pavement repairs are recommended to address these deficiencies. | 240 days | 1 | $1,100 |
Carriage Hill | Cladding | Evidence of wood rot and deterioration was observed at the fascia along some of the roof lines. All buildings should be visually surveyed, and fascia repairs and/or replacement completed for areas of concern along the building exteriors. | 240 days | 1 | $1,100 |
Carriage Hill | Fire Protection and Life Safety Systems | No information was provided concerning the last known compliance inspection completed for the extinguishers. AEI recommends that the inspections be performed. | 60 days | 1 | $1,100 |
Oakley Woods | Topography, Storm Water Drainage, and Retaining Walls | AEI observed surface erosion in scattered areas, including near exterior stairs at the corner of building 3. Improved erosion control measures are recommended where warranted. This work commonly involves redirecting flow from downspouts and/or regrading the ground surface and can typically be handled by a landscaping contractor. | 240 days | 250 | $1,925 |
Oakley Woods | Topography, Storm Water Drainage, and Retaining Walls | AEI observed damaged wood timbers in the retaining wall between buildings 6 and 7. Retaining wall repairs are recommended. | 240 days | 1 | $3,850 |
Oakley Woods | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement defincises including alligator cracking and surface depressions along the north and south sections of the property. Pavement repairs are recommended. | 240 days | 1 | $22,000 |
Oakley Woods | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement at multiple buildings (specifically buildings 3 and 6). The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 500 | $2,750 |
Oakley Woods | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including bare patches of lawn throughout the property. Replacement of missing landscaping elements is recommended. | 240 days | 1 | $2,200 |
Oakley Woods | Foundations | Flooring in units 24 and 47 were not stable and will require repair during the evaluation period. The areas in question were in the bathroom and mechanical closets where the domestic water heaters were located. | 240 days | 1 | $2,750 |
Oakley Woods | Roof Systems | Evidence of active roof leaks were observed in apartment unit 30. Immediate repairs to repair roof leaks are recommended. | 240 days | 1 | $1,100 |
Oakley Woods | Down Units | Unit 33: Water damage and suspect mold in the entire apartment unit. Unit 30: Water damage and suspect mold within the bedroom of the apartment unit. Repairs are recommended. | 240 days | 2 | $22,000 |
Oakley Woods | Moisture and Microbial Growth | AEI observed significant evidence of framing deterioration or structural damage due to water intrusion and mold infestation in units 30 and 33. Minor areas mold was also observed in the laundry room and unit 47. Immediate repair and remediation is required during the evaluation period. | 240 days | 1 | $3,300 |
Oakley Woods | ADA Accessibility and Fair Housing | Lever handle hardware is required on leasing office entry doors. | 60 days | 1 | $220 |
Meadowland | Site Access, Parking, Pavement | Deficiencies observed consisted of localized deterioration, pothole formation, and longitudinal cracking. Areas impacted were surfaces near building 3 (east), between buildings 5 and 8, and the northeast corner of the site. Sectional repairs and replacement are recommended. | 240 days | 1 | $2,200 |
Meadowland | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including bare patches of lawn near building 4 with exposed tree roots. Reseeding this area to prevent soil erosion is recommended. | 240 days | 1 | $1,100 |
Meadowland | ADA Accessibility and Fair Housing | Recommend modifying the leasing office toilet room where feasible. | 60 days | 1 | $3,300 |
Harbinwood | Site Access, Parking, Pavement | AEI observed widespread asphalt pavement deficisencies including alligator cracking and surface depressions along the north and southwest sections of the property. Pavement repairs are recommended. Due to the severity of the deficiencies it appears that partial full-depth replacement is warranted. | 240 days | 1 | $20,900 |
Harbinwood | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed that the site steps had no handrails. Handrails are required on both side of stairways of two or more risers. Adding required handrails to approximately 20 sets of stairs throughout the site is recommended as an immediate repair. | 180 days | 240 | $9,240 |
Harbinwood | Landscaping, Fencing, Signage, Site Lighting | AEI observed distressed landscaping elements including bare patches of lawn throughout the property. Replacement of missing landscaping elements is recommended. | 240 days | 1 | $1,733 |
Harbinwood | ADA Accessibility and Fair Housing | Provide accessible signage at leasing office parking space | 60 days | 1 | $330 |
Harbinwood | ADA Accessibility and Fair Housing | Lever handle hardware is required on leasing office entry doors. | 60 days | 1 | $220 |
Stewart Way | Site Access, Parking, Pavement | AEI observed isolated asphalt pavement deficiencies in the form of cracks supporting weed growth and several potholes. Pavement repairs are recommended to address these deficiencies. | 240 days | 500 SF | $1,513 |
Stewart Way | Sidewalks, Curbing, Site Steps, and Ramps | AEI observed concrete walkway cracking and differential settlement in front of unit 10E. The uneven flatwork represents a trip hazard and repairs are recommended. | 180 days | 1 | $1,100 |
Stewart Way | Landscaping, Fencing, Signage, Site Lighting | AEI observed deteriorated patio fencing at unit 11A. The fencing has partially collapsed and appears to be at the end of its EUL. Immediate replacement is recommended. | 240 days | 1 | $550 |
Stewart Way | Fire Protection and Life Safety Systems | AEI observed the inspection tags for the fire extinguishers to be more than one year old. At a minimum, fire extinguishers are typically serviced on an annual basis. AEI recommends that the fire extinguishers be serviced and re-certified, or new fire extinguishers installed at all required locations as an immediate repair. | 60 days | 190 | $10,450 |
Stewart Way | Moisture and Microbial Growth | AEI observed indications of suspected microbial growth in the vacant units #4G, 14D and 22G. A mold assessment to determine the extent of the microbial growth and provide recommendations for remediation is recommended. | 240 days | 3 | $3,300 |
Stewart Way | On Site Wells | Decomission the 6-8 on site Irrigation Wells | 180 days | 6-8 | $15,840 |
Stewart Way | ADA Accessibility and Fair Housing | Modify existing accessible parking space to van accessible | 60 days | 1 | $990 |
Stewart Way | ADA Accessibility and Fair Housing | Existing ramp does not have compliant width, edge protection or handrails. Modifications are recommended. | 60 days | 1 | $1,100 |
Total | $756,042 |
Sources & Uses | |||||||
Initial Sources: | $/Unit | % | Initial Uses: | $/Unit | % | ||
SMC & BMO Loan | $172,000,000 | $52,137 | 93.0% | Existing SASB Loan | $163,321,464 | $49,506 | 88.3% |
Mezzanine Loan | $13,000,000 | $3,941 | 7.0% | Existing Mezz Loan | $10,338,264 | $3,134 | 5.6% |
Closing Costs | $4,259,030 | $1,291 | 2.3% | ||||
First Months Payment | $957,931 | $290 | 0.5% | ||||
Stub Interest | $161,608 | $49 | 0.1% | ||||
Real Estate Tax Reserve | $715,487 | $217 | 0.4% | ||||
Insurance Reserve | $403,757 | $122 | 0.2% | ||||
Immediate Repair Reserve | $756,042 | $229 | 0.4% | ||||
Replacement Reserve | $500,000 | $152 | 0.3% | ||||
Return of Equity | $3,586,417 | $1,087 | 1.9% | ||||
Total Initial Sources: | $185,000,000 | $56,078 | 100.0% | Total Initial Uses: | $185,000,000 | $56,078 | 100.0% |
COMBINED PAYMENT SCHEDULE | MORTGAGE PAYMENT SCHEDULE | MEZZANINE LOAN PAYMENT SCHEDULE | ||||||||||||||||||||
Period | Days | Date | Principal | Interest | Coupon | Total Payment | Period | Days | Date | Principal | Interest | Coupon | Total Payment | Period | Days | Date | Principal | Interest | Coupon | Total Payment | ||
1 | 30 | 12/6/2021 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 1 | 30 | 12/6/2021 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 1 | 30 | 12/6/2021 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
2 | 31 | 1/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 2 | 31 | 1/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 2 | 31 | 1/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
3 | 31 | 2/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 3 | 31 | 2/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 3 | 31 | 2/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
4 | 28 | 3/6/2022 | $0.00 | $565,627.22 | 3.9310% | $565,627.22 | 4 | 28 | 3/6/2022 | $0.00 | $498,163.03 | 3.7238100437993500% | $498,163.03 | 4 | 28 | 3/6/2022 | $0.00 | $67,464.19 | 6.6722824974240200% | $67,464.19 | ||
5 | 31 | 4/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 5 | 31 | 4/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 5 | 31 | 4/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
6 | 30 | 5/6/2022 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 6 | 30 | 5/6/2022 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 6 | 30 | 5/6/2022 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
7 | 31 | 6/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 7 | 31 | 6/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 7 | 31 | 6/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
8 | 30 | 7/6/2022 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 8 | 30 | 7/6/2022 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 8 | 30 | 7/6/2022 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
9 | 31 | 8/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 9 | 31 | 8/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 9 | 31 | 8/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
10 | 31 | 9/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 10 | 31 | 9/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 10 | 31 | 9/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
11 | 30 | 10/6/2022 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 11 | 30 | 10/6/2022 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 11 | 30 | 10/6/2022 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
12 | 31 | 11/6/2022 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 12 | 31 | 11/6/2022 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 12 | 31 | 11/6/2022 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
13 | 30 | 12/6/2022 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 13 | 30 | 12/6/2022 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 13 | 30 | 12/6/2022 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
14 | 31 | 1/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 14 | 31 | 1/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 14 | 31 | 1/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
15 | 31 | 2/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 15 | 31 | 2/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 15 | 31 | 2/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
16 | 28 | 3/6/2023 | $0.00 | $565,627.22 | 3.9310% | $565,627.22 | 16 | 28 | 3/6/2023 | $0.00 | $498,163.03 | 3.7238100437993500% | $498,163.03 | 16 | 28 | 3/6/2023 | $0.00 | $67,464.19 | 6.6722824974240200% | $67,464.19 | ||
17 | 31 | 4/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 17 | 31 | 4/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 17 | 31 | 4/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
18 | 30 | 5/6/2023 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 18 | 30 | 5/6/2023 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 18 | 30 | 5/6/2023 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
19 | 31 | 6/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 19 | 31 | 6/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 19 | 31 | 6/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
20 | 30 | 7/6/2023 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 20 | 30 | 7/6/2023 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 20 | 30 | 7/6/2023 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
21 | 31 | 8/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 21 | 31 | 8/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 21 | 31 | 8/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
22 | 31 | 9/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 22 | 31 | 9/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 22 | 31 | 9/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
23 | 30 | 10/6/2023 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 23 | 30 | 10/6/2023 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 23 | 30 | 10/6/2023 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
24 | 31 | 11/6/2023 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 24 | 31 | 11/6/2023 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 24 | 31 | 11/6/2023 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
25 | 30 | 12/6/2023 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 25 | 30 | 12/6/2023 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 25 | 30 | 12/6/2023 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
26 | 31 | 1/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 26 | 31 | 1/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 26 | 31 | 1/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
27 | 31 | 2/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 27 | 31 | 2/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 27 | 31 | 2/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
28 | 29 | 3/6/2024 | $0.00 | $585,828.19 | 3.9310% | $585,828.19 | 28 | 29 | 3/6/2024 | $0.00 | $515,954.57 | 3.7238100437993500% | $515,954.57 | 28 | 29 | 3/6/2024 | $0.00 | $69,873.63 | 6.6722824974240200% | $69,873.63 | ||
29 | 31 | 4/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 29 | 31 | 4/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 29 | 31 | 4/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
30 | 30 | 5/6/2024 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 30 | 30 | 5/6/2024 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 30 | 30 | 5/6/2024 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
31 | 31 | 6/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 31 | 31 | 6/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 31 | 31 | 6/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
32 | 30 | 7/6/2024 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 32 | 30 | 7/6/2024 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 32 | 30 | 7/6/2024 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
33 | 31 | 8/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 33 | 31 | 8/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 33 | 31 | 8/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
34 | 31 | 9/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 34 | 31 | 9/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 34 | 31 | 9/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
35 | 30 | 10/6/2024 | $0.00 | $606,029.17 | 3.9310% | $606,029.17 | 35 | 30 | 10/6/2024 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 35 | 30 | 10/6/2024 | $0.00 | $72,283.06 | 6.6722824974240300% | $72,283.06 | ||
36 | 31 | 11/6/2024 | $0.00 | $626,230.14 | 3.9310% | $626,230.14 | 36 | 31 | 11/6/2024 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 36 | 31 | 11/6/2024 | $0.00 | $74,692.50 | 6.6722824974240300% | $74,692.50 | ||
37 | 30 | 12/6/2024 | $269,845.82 | $606,029.17 | 3.9310% | $875,874.99 | 37 | 30 | 12/6/2024 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 37 | 30 | 12/6/2024 | $269,845.82 | $72,283.06 | 6.6722824974240300% | $342,128.88 | ||
38 | 31 | 1/6/2025 | $250,558.28 | $625,316.70 | 3.9310% | $875,874.99 | 38 | 31 | 1/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 38 | 31 | 1/6/2025 | $250,558.28 | $73,779.06 | 6.7303904835932000% | $324,337.34 | ||
39 | 31 | 2/6/2025 | $251,406.43 | $624,468.56 | 3.9310% | $875,874.99 | 39 | 31 | 2/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 39 | 31 | 2/6/2025 | $251,406.43 | $72,930.91 | 6.7865950658178400% | $324,337.34 | ||
40 | 28 | 3/6/2025 | $312,607.53 | $563,267.45 | 3.9310% | $875,874.99 | 40 | 28 | 3/6/2025 | $0.00 | $498,163.03 | 3.7238100437993500% | $498,163.03 | 40 | 28 | 3/6/2025 | $312,607.53 | $65,104.42 | 6.8453048987791700% | $377,711.95 | ||
41 | 31 | 4/6/2025 | $253,315.63 | $622,559.35 | 3.9310% | $875,874.99 | 41 | 31 | 4/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 41 | 31 | 4/6/2025 | $253,315.63 | $71,021.71 | 6.9217622356783100% | $324,337.34 | ||
42 | 30 | 5/6/2025 | $274,228.01 | $601,646.97 | 3.9310% | $875,874.99 | 42 | 30 | 5/6/2025 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 42 | 30 | 5/6/2025 | $274,228.01 | $67,900.87 | 6.9867244659226000% | $342,128.88 | ||
43 | 31 | 6/6/2025 | $255,101.38 | $620,773.60 | 3.9310% | $875,874.99 | 43 | 31 | 6/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 43 | 31 | 6/6/2025 | $255,101.38 | $69,235.96 | 7.0603073979255000% | $324,337.34 | ||
44 | 30 | 7/6/2025 | $275,962.01 | $599,912.98 | 3.9310% | $875,874.99 | 44 | 30 | 7/6/2025 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 44 | 30 | 7/6/2025 | $275,962.01 | $66,166.87 | 7.1320127036496000% | $342,128.88 | ||
45 | 31 | 8/6/2025 | $256,899.05 | $618,975.94 | 3.9310% | $875,874.99 | 45 | 31 | 8/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 45 | 31 | 8/6/2025 | $256,899.05 | $67,438.30 | 7.2133758733726300% | $324,337.34 | ||
46 | 31 | 9/6/2025 | $257,768.66 | $618,106.33 | 3.9310% | $875,874.99 | 46 | 31 | 9/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 46 | 31 | 9/6/2025 | $257,768.66 | $66,568.69 | 7.2929261752794600% | $324,337.34 | ||
47 | 30 | 10/6/2025 | $278,551.98 | $597,323.01 | 3.9310% | $875,874.99 | 47 | 30 | 10/6/2025 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 47 | 30 | 10/6/2025 | $278,551.98 | $63,576.90 | 7.3767178458160100% | $342,128.88 | ||
48 | 31 | 11/6/2025 | $259,584.12 | $616,290.87 | 3.9310% | $875,874.99 | 48 | 31 | 11/6/2025 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 48 | 31 | 11/6/2025 | $259,584.12 | $64,753.23 | 7.4720909449153300% | $324,337.34 | ||
49 | 30 | 12/6/2025 | $280,314.82 | $595,560.16 | 3.9310% | $875,874.99 | 49 | 30 | 12/6/2025 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 49 | 30 | 12/6/2025 | $280,314.82 | $61,814.06 | 7.5658480774497900% | $342,128.88 | ||
50 | 31 | 1/6/2026 | $261,411.69 | $614,463.30 | 3.9310% | $875,874.99 | 50 | 31 | 1/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 50 | 31 | 1/6/2026 | $261,411.69 | $62,925.65 | 7.6728322406920400% | $324,337.34 | ||
51 | 31 | 2/6/2026 | $262,296.58 | $613,578.41 | 3.9310% | $875,874.99 | 51 | 31 | 2/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 51 | 31 | 2/6/2026 | $262,296.58 | $62,040.77 | 7.7784370498230100% | $324,337.34 | ||
52 | 28 | 3/6/2026 | $322,477.09 | $553,397.90 | 3.9310% | $875,874.99 | 52 | 28 | 3/6/2026 | $0.00 | $498,163.03 | 3.7238100437993500% | $498,163.03 | 52 | 28 | 3/6/2026 | $322,477.09 | $55,234.86 | 7.8905651576929300% | $377,711.95 | ||
53 | 31 | 4/6/2026 | $264,276.05 | $611,598.93 | 3.9310% | $875,874.99 | 53 | 31 | 4/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 53 | 31 | 4/6/2026 | $264,276.05 | $60,061.29 | 8.0377093695476700% | $324,337.34 | ||
54 | 30 | 5/6/2026 | $284,870.77 | $591,004.21 | 3.9310% | $875,874.99 | 54 | 30 | 5/6/2026 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 54 | 30 | 5/6/2026 | $284,870.77 | $57,258.11 | 8.1667066357746200% | $342,128.88 | ||
55 | 31 | 6/6/2026 | $266,134.93 | $609,740.06 | 3.9310% | $875,874.99 | 55 | 31 | 6/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 55 | 31 | 6/6/2026 | $266,134.93 | $58,202.41 | 8.3151504385340600% | $324,337.34 | ||
56 | 30 | 7/6/2026 | $286,675.78 | $589,199.21 | 3.9310% | $875,874.99 | 56 | 30 | 7/6/2026 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 56 | 30 | 7/6/2026 | $286,675.78 | $55,453.10 | 8.4635500586740600% | $342,128.88 | ||
57 | 31 | 8/6/2026 | $268,006.21 | $607,868.78 | 3.9310% | $875,874.99 | 57 | 31 | 8/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 57 | 31 | 8/6/2026 | $268,006.21 | $56,331.13 | 8.6350682038451000% | $324,337.34 | ||
58 | 31 | 9/6/2026 | $268,913.42 | $606,961.57 | 3.9310% | $875,874.99 | 58 | 31 | 9/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 58 | 31 | 9/6/2026 | $268,913.42 | $55,423.93 | 8.8075873610936300% | $324,337.34 | ||
59 | 30 | 10/6/2026 | $289,373.74 | $586,501.25 | 3.9310% | $875,874.99 | 59 | 30 | 10/6/2026 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 59 | 30 | 10/6/2026 | $289,373.74 | $52,755.14 | 8.9938948187094600% | $342,128.88 | ||
60 | 31 | 11/6/2026 | $270,803.23 | $605,071.75 | 3.9310% | $875,874.99 | 60 | 31 | 11/6/2026 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 60 | 31 | 11/6/2026 | $270,803.23 | $53,534.11 | 9.2109606989649000% | $324,337.34 | ||
61 | 30 | 12/6/2026 | $291,208.78 | $584,666.20 | 3.9310% | $875,874.99 | 61 | 30 | 12/6/2026 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 61 | 30 | 12/6/2026 | $291,208.78 | $50,920.10 | 9.4316606541894300% | $342,128.88 | ||
62 | 31 | 1/6/2027 | $272,705.66 | $603,169.33 | 3.9310% | $875,874.99 | 62 | 31 | 1/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 62 | 31 | 1/6/2027 | $272,705.66 | $51,631.68 | 9.6905478491348700% | $324,337.34 | ||
63 | 31 | 2/6/2027 | $273,628.78 | $602,246.21 | 3.9310% | $875,874.99 | 63 | 31 | 2/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 63 | 31 | 2/6/2027 | $273,628.78 | $50,708.57 | 9.9560998939716200% | $324,337.34 | ||
64 | 28 | 3/6/2027 | $332,747.27 | $543,127.71 | 3.9310% | $875,874.99 | 64 | 28 | 3/6/2027 | $0.00 | $498,163.03 | 3.7238100437993500% | $498,163.03 | 64 | 28 | 3/6/2027 | $332,747.27 | $44,964.68 | 10.2483564468918000% | $377,711.95 | ||
65 | 31 | 4/6/2027 | $275,681.38 | $600,193.61 | 3.9310% | $875,874.99 | 65 | 31 | 4/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 65 | 31 | 4/6/2027 | $275,681.38 | $48,655.97 | 10.6443537941182000% | $324,337.34 | ||
66 | 30 | 5/6/2027 | $295,945.55 | $579,929.44 | 3.9310% | $875,874.99 | 66 | 30 | 5/6/2027 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 66 | 30 | 5/6/2027 | $295,945.55 | $46,183.33 | 11.0121020949399000% | $342,128.88 | ||
67 | 31 | 6/6/2027 | $277,616.35 | $598,258.64 | 3.9310% | $875,874.99 | 67 | 31 | 6/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 67 | 31 | 6/6/2027 | $277,616.35 | $46,720.99 | 11.4545242270657000% | $324,337.34 | ||
68 | 30 | 7/6/2027 | $297,824.44 | $578,050.55 | 3.9310% | $875,874.99 | 68 | 30 | 7/6/2027 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 68 | 30 | 7/6/2027 | $297,824.44 | $44,304.44 | 11.9229284537355000% | $342,128.88 | ||
69 | 31 | 8/6/2027 | $279,564.23 | $596,310.75 | 3.9310% | $875,874.99 | 69 | 31 | 8/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 69 | 31 | 8/6/2027 | $279,564.23 | $44,773.11 | 12.4949168495436000% | $324,337.34 | ||
70 | 31 | 9/6/2027 | $280,510.57 | $595,364.42 | 3.9310% | $875,874.99 | 70 | 31 | 9/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 70 | 31 | 9/6/2027 | $280,510.57 | $43,826.78 | 13.1117003029952000% | $324,337.34 | ||
71 | 30 | 10/6/2027 | $300,634.78 | $575,240.21 | 3.9310% | $875,874.99 | 71 | 30 | 10/6/2027 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 71 | 30 | 10/6/2027 | $300,634.78 | $41,494.10 | 13.8268216605197000% | $342,128.88 | ||
72 | 31 | 11/6/2027 | $282,477.76 | $593,397.23 | 3.9310% | $875,874.99 | 72 | 31 | 11/6/2027 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 72 | 31 | 11/6/2027 | $282,477.76 | $41,859.58 | 14.7281953763277000% | $324,337.34 | ||
73 | 30 | 12/6/2027 | $302,544.95 | $573,330.03 | 3.9310% | $875,874.99 | 73 | 30 | 12/6/2027 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 73 | 30 | 12/6/2027 | $302,544.95 | $39,583.93 | 15.7387638156569000% | $342,128.88 | ||
74 | 31 | 1/6/2028 | $284,458.08 | $591,416.91 | 3.9310% | $875,874.99 | 74 | 31 | 1/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 74 | 31 | 1/6/2028 | $284,458.08 | $39,879.27 | 17.0543023099870000% | $324,337.34 | ||
75 | 31 | 2/6/2028 | $285,420.98 | $590,454.01 | 3.9310% | $875,874.99 | 75 | 31 | 2/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 75 | 31 | 2/6/2028 | $285,420.98 | $38,916.37 | 18.5898533541062000% | $324,337.34 | ||
76 | 29 | 3/6/2028 | $324,418.61 | $551,456.38 | 3.9310% | $875,874.99 | 76 | 29 | 3/6/2028 | $0.00 | $515,954.57 | 3.7238100437993500% | $515,954.57 | 76 | 29 | 3/6/2028 | $324,418.61 | $35,501.81 | 20.5398217100063000% | $359,920.42 | ||
77 | 31 | 4/6/2028 | $287,485.30 | $588,389.69 | 3.9310% | $875,874.99 | 77 | 31 | 4/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 77 | 31 | 4/6/2028 | $287,485.30 | $36,852.04 | 23.4983798599967000% | $324,337.34 | ||
78 | 30 | 5/6/2028 | $307,407.37 | $568,467.62 | 3.9310% | $875,874.99 | 78 | 30 | 5/6/2028 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 78 | 30 | 5/6/2028 | $307,407.37 | $34,721.51 | 27.1660952673073000% | $342,128.88 | ||
79 | 31 | 6/6/2028 | $289,499.03 | $586,375.96 | 3.9310% | $875,874.99 | 79 | 31 | 6/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 79 | 31 | 6/6/2028 | $289,499.03 | $34,838.32 | 32.9904693502888000% | $324,337.34 | ||
80 | 30 | 7/6/2028 | $309,362.73 | $566,512.26 | 3.9310% | $875,874.99 | 80 | 30 | 7/6/2028 | $0.00 | $533,746.11 | 3.7238100437993500% | $533,746.11 | 80 | 30 | 7/6/2028 | $309,362.73 | $32,766.15 | 41.9703544868354000% | $342,128.88 | ||
81 | 31 | 8/6/2028 | $291,526.19 | $584,348.80 | 3.9310% | $875,874.99 | 81 | 31 | 8/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 81 | 31 | 8/6/2028 | $291,526.19 | $32,811.15 | 60.7248442273283000% | $324,337.34 | ||
82 | 31 | 9/6/2028 | $292,513.02 | $583,361.97 | 3.9310% | $875,874.99 | 82 | 31 | 9/6/2028 | $0.00 | $551,537.64 | 3.7238100437993500% | $551,537.64 | 82 | 31 | 9/6/2028 | $292,513.02 | $31,824.33 | 110.0089364720680000% | $324,337.34 | ||
83 | 30 | 10/6/2028 | $312,289.37 | $563,585.62 | 3.9310% | $875,874.99 | 83 | 30 | 10/6/2028 | $268,854.37 | $533,746.11 | 3.7238100437993500% | $802,600.47 | 83 | 30 | 10/6/2028 | $43,435.00 | $29,839.51 | 824.3907830063700000% | $73,274.52 | ||
84 | 31 | 11/6/2028 | $294,560.29 | $581,314.70 | 3.9310% | $875,874.99 | 84 | 31 | 11/6/2028 | $294,560.29 | $581,314.70 | 3.9310000000000000% | $875,874.99 | 84 | 31 | 11/6/2028 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
85 | 30 | 12/6/2028 | $314,277.31 | $561,597.68 | 3.9310% | $875,874.99 | 85 | 30 | 12/6/2028 | $314,277.31 | $561,597.68 | 3.9310000000000000% | $875,874.99 | 85 | 30 | 12/6/2028 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
86 | 31 | 1/6/2029 | $296,621.22 | $579,253.77 | 3.9310% | $875,874.99 | 86 | 31 | 1/6/2029 | $296,621.22 | $579,253.77 | 3.9310000000000000% | $875,874.99 | 86 | 31 | 1/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
87 | 31 | 2/6/2029 | $297,625.29 | $578,249.70 | 3.9310% | $875,874.99 | 87 | 31 | 2/6/2029 | $297,625.29 | $578,249.70 | 3.9310000000000000% | $875,874.99 | 87 | 31 | 2/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
88 | 28 | 3/6/2029 | $354,494.91 | $521,380.07 | 3.9310% | $875,874.99 | 88 | 28 | 3/6/2029 | $354,494.91 | $521,380.07 | 3.9310000000000000% | $875,874.99 | 88 | 28 | 3/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
89 | 31 | 4/6/2029 | $299,832.74 | $576,042.25 | 3.9310% | $875,874.99 | 89 | 31 | 4/6/2029 | $299,832.74 | $576,042.25 | 3.9310000000000000% | $875,874.99 | 89 | 31 | 4/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
90 | 30 | 5/6/2029 | $319,396.95 | $556,478.04 | 3.9310% | $875,874.99 | 90 | 30 | 5/6/2029 | $319,396.95 | $556,478.04 | 3.9310000000000000% | $875,874.99 | 90 | 30 | 5/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
91 | 31 | 6/6/2029 | $301,928.85 | $573,946.14 | 3.9310% | $875,874.99 | 91 | 31 | 6/6/2029 | $301,928.85 | $573,946.14 | 3.9310000000000000% | $875,874.99 | 91 | 31 | 6/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
92 | 30 | 7/6/2029 | $321,432.31 | $554,442.68 | 3.9310% | $875,874.99 | 92 | 30 | 7/6/2029 | $321,432.31 | $554,442.68 | 3.9310000000000000% | $875,874.99 | 92 | 30 | 7/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
93 | 31 | 8/6/2029 | $304,038.94 | $571,836.05 | 3.9310% | $875,874.99 | 93 | 31 | 8/6/2029 | $304,038.94 | $571,836.05 | 3.9310000000000000% | $875,874.99 | 93 | 31 | 8/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
94 | 31 | 9/6/2029 | $305,068.12 | $570,806.87 | 3.9310% | $875,874.99 | 94 | 31 | 9/6/2029 | $305,068.12 | $570,806.87 | 3.9310000000000000% | $875,874.99 | 94 | 31 | 9/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
95 | 30 | 10/6/2029 | $324,480.60 | $551,394.39 | 3.9310% | $875,874.99 | 95 | 30 | 10/6/2029 | $324,480.60 | $551,394.39 | 3.9310000000000000% | $875,874.99 | 95 | 30 | 10/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
96 | 31 | 11/6/2029 | $307,199.16 | $568,675.83 | 3.9310% | $875,874.99 | 96 | 31 | 11/6/2029 | $307,199.16 | $568,675.83 | 3.9310000000000000% | $875,874.99 | 96 | 31 | 11/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
97 | 30 | 12/6/2029 | $326,549.88 | $549,325.11 | 3.9310% | $875,874.99 | 97 | 30 | 12/6/2029 | $326,549.88 | $549,325.11 | 3.9310000000000000% | $875,874.99 | 97 | 30 | 12/6/2029 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
98 | 31 | 1/6/2030 | $309,344.42 | $566,530.57 | 3.9310% | $875,874.99 | 98 | 31 | 1/6/2030 | $309,344.42 | $566,530.57 | 3.9310000000000000% | $875,874.99 | 98 | 31 | 1/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
99 | 31 | 2/6/2030 | $310,391.56 | $565,483.43 | 3.9310% | $875,874.99 | 99 | 31 | 2/6/2030 | $310,391.56 | $565,483.43 | 3.9310000000000000% | $875,874.99 | 99 | 31 | 2/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
100 | 28 | 3/6/2030 | $366,064.77 | $509,810.22 | 3.9310% | $875,874.99 | 100 | 28 | 3/6/2030 | $366,064.77 | $509,810.22 | 3.9310000000000000% | $875,874.99 | 100 | 28 | 3/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
101 | 31 | 4/6/2030 | $312,681.38 | $563,193.60 | 3.9310% | $875,874.99 | 101 | 31 | 4/6/2030 | $312,681.38 | $563,193.60 | 3.9310000000000000% | $875,874.99 | 101 | 31 | 4/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
102 | 30 | 5/6/2030 | $331,873.21 | $544,001.78 | 3.9310% | $875,874.99 | 102 | 30 | 5/6/2030 | $331,873.21 | $544,001.78 | 3.9310000000000000% | $875,874.99 | 102 | 30 | 5/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
103 | 31 | 6/6/2030 | $314,863.22 | $561,011.77 | 3.9310% | $875,874.99 | 103 | 31 | 6/6/2030 | $314,863.22 | $561,011.77 | 3.9310000000000000% | $875,874.99 | 103 | 31 | 6/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
104 | 30 | 7/6/2030 | $333,991.81 | $541,883.18 | 3.9310% | $875,874.99 | 104 | 30 | 7/6/2030 | $333,991.81 | $541,883.18 | 3.9310000000000000% | $875,874.99 | 104 | 30 | 7/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
105 | 31 | 8/6/2030 | $317,059.61 | $558,815.38 | 3.9310% | $875,874.99 | 105 | 31 | 8/6/2030 | $317,059.61 | $558,815.38 | 3.9310000000000000% | $875,874.99 | 105 | 31 | 8/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
106 | 31 | 9/6/2030 | $318,132.87 | $557,742.12 | 3.9310% | $875,874.99 | 106 | 31 | 9/6/2030 | $318,132.87 | $557,742.12 | 3.9310000000000000% | $875,874.99 | 106 | 31 | 9/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
107 | 30 | 10/6/2030 | $337,166.70 | $538,708.29 | 3.9310% | $875,874.99 | 107 | 30 | 10/6/2030 | $337,166.70 | $538,708.29 | 3.9310000000000000% | $875,874.99 | 107 | 30 | 10/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
108 | 31 | 11/6/2030 | $320,351.07 | $555,523.91 | 3.9310% | $875,874.99 | 108 | 31 | 11/6/2030 | $320,351.07 | $555,523.91 | 3.9310000000000000% | $875,874.99 | 108 | 31 | 11/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
109 | 30 | 12/6/2030 | $339,320.62 | $536,554.37 | 3.9310% | $875,874.99 | 109 | 30 | 12/6/2030 | $339,320.62 | $536,554.37 | 3.9310000000000000% | $875,874.99 | 109 | 30 | 12/6/2030 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
110 | 31 | 1/6/2031 | $322,584.08 | $553,290.91 | 3.9310% | $875,874.99 | 110 | 31 | 1/6/2031 | $322,584.08 | $553,290.91 | 3.9310000000000000% | $875,874.99 | 110 | 31 | 1/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
111 | 31 | 2/6/2031 | $323,676.04 | $552,198.95 | 3.9310% | $875,874.99 | 111 | 31 | 2/6/2031 | $323,676.04 | $552,198.95 | 3.9310000000000000% | $875,874.99 | 111 | 31 | 2/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
112 | 28 | 3/6/2031 | $378,104.27 | $497,770.72 | 3.9310% | $875,874.99 | 112 | 28 | 3/6/2031 | $378,104.27 | $497,770.72 | 3.9310000000000000% | $875,874.99 | 112 | 28 | 3/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
113 | 31 | 4/6/2031 | $326,051.58 | $549,823.41 | 3.9310% | $875,874.99 | 113 | 31 | 4/6/2031 | $326,051.58 | $549,823.41 | 3.9310000000000000% | $875,874.99 | 113 | 31 | 4/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
114 | 30 | 5/6/2031 | $344,855.91 | $531,019.08 | 3.9310% | $875,874.99 | 114 | 30 | 5/6/2031 | $344,855.91 | $531,019.08 | 3.9310000000000000% | $875,874.99 | 114 | 30 | 5/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
115 | 31 | 6/6/2031 | $328,322.62 | $547,552.36 | 3.9310% | $875,874.99 | 115 | 31 | 6/6/2031 | $328,322.62 | $547,552.36 | 3.9310000000000000% | $875,874.99 | 115 | 31 | 6/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
116 | 30 | 7/6/2031 | $347,061.13 | $528,813.86 | 3.9310% | $875,874.99 | 116 | 30 | 7/6/2031 | $347,061.13 | $528,813.86 | 3.9310000000000000% | $875,874.99 | 116 | 30 | 7/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
117 | 31 | 8/6/2031 | $330,608.81 | $545,266.17 | 3.9310% | $875,874.99 | 117 | 31 | 8/6/2031 | $330,608.81 | $545,266.17 | 3.9310000000000000% | $875,874.99 | 117 | 31 | 8/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
118 | 31 | 9/6/2031 | $331,727.93 | $544,147.05 | 3.9310% | $875,874.99 | 118 | 31 | 9/6/2031 | $331,727.93 | $544,147.05 | 3.9310000000000000% | $875,874.99 | 118 | 31 | 9/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
119 | 30 | 10/6/2031 | $350,367.75 | $525,507.24 | 3.9310% | $875,874.99 | 119 | 30 | 10/6/2031 | $350,367.75 | $525,507.24 | 3.9310000000000000% | $875,874.99 | 119 | 30 | 10/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 | ||
120 | 31 | 11/6/2031 | $160,069,037.73 | $541,838.14 | 3.9310% | $160,610,875.87 | 120 | 31 | 11/6/2031 | $160,069,037.73 | $541,838.14 | 3.9310000000000000% | $160,610,875.87 | 120 | 31 | 11/6/2031 | $0.00 | $0.00 | 0.0000000000000000% | $0.00 |