Spring Hill Apartments - Somerville

INVESTMENT HI GHLI GHTS 23

Cash Flow Analysis

CURRENT

PROJECTED

INCOME

$/MONTH $/YEAR $/MONTH $/YEAR

44 Central St. / 151-153 Summer St.

$12,975

$155,700

$15,200

$189,600

155-157 Summer St.

$107,640 $1,291,680

$134,000 $1,588,800

163 Summer Street

$52,550

$630,600

$61,900

$758,400

Storage $25/mth (155-157 & 163) (est. @ 75% rented)

$675

$8,100

$675.00

$8,100

Laundry Income (est. @ $200/unit) POTENTIAL GROSS REVENUE

$1,767

$21,200 $1,766.67

$21,200

$2,107,280

$2,566,100

Vacancy Rate (% of EGI)

0.00%

0

3% (76,983)

EFFECTIVE GROSS REVENUE (EGR)

$2,107,280

$2,489,117

OPERATING EXPENSES

$/Unit

$/Year

$/Unit

$/Year

Utilities

$1,320

$139,892

$1,359

$144,089

Landscaping

$123

13,010

$126

13,401

Trash Removal

$130

13,797

$134

14,211

Snow Removal

$31

3,300

$32

3,399

Wages & Payroll

$854

90,523

$880

93,238

Office

$15

1,609

$16

1,657

Telephone

$22

2,338

$23

2,408

Real Estate Taxes

$1,255

133,000

$1,292

136,990

Insurance

$526

55,741

$542

57,413

Management

$522

55,302

$537

56,961

Cleaning & Pest Control

$326

34,556

$336

35,592

Repairs & Maintenance (5% of EGR)

$994

105,364

$1,174

124,456

Capital Reserve ($400/unit est.)

$400

42,400

$400

42,400

TOTAL OPERATING EXPENSES NET OPERATING INCOME

$6,517

$690,829

$6,451

$726,213

$1,416,451

$1,762,904