103 NE 59th St 103 NE 59th St OM - Final | Page 22

FINANCIAL OVERVIEW
Historic Vs. Projected
INCOME T-12 per unit FY 1 per unit
Current Market Rent $175,416 $10,319 $214,200 $12,600
Proj Market Rent Increase 0 0 0 0
Projected Market Rent 175,416 10,319 214,200 12,600
Gain/Loss-To-Lease 0 0 -2,142 -126
Gross Potential Rent 175,416 10,319 212,058 12,474
Vacancy Loss 0 0 -10,603 -624
Net Bad Debt Expense 0 0 -2,121 -125
Effective Rental Income 175,416 10,319 199,335 11,726
Economic Occupancy 100% Effective Rent Per Sf(Excl Vacancy) 2.02 Effective Gross Income 175,416 10,319 199,335 11,726
Repairs & Maintenance 4,000 235 4,000 235
Landscaping / Contract Services 125 7 125 7
Utilities 5,770 339 5,770 339
Controllable Expenses 10,778 634 10,778 634
Insurance 5,233 308 5,233 308
Real Estate Taxes 8,032 472 42,097 0
Management Fees 0 0 5,980 0
Fixed Expenses 13,265 780 53,310 3,136
Total Operating Expenses 24,043 1,414 64,088 3,770
Capital Reserves 0.00 0.00 2,550 150
Total Expenses 24,043 1,414 66,638 3,920
Net Operating Income $151,373 $8,904 $132,696 $7,806
94%
2.42
FY 1 Income Analysis
FY NOI
Purchase Price
In-Place Cap Rate
103 NE 59TH STREET | OFFERING MEMORANDUM
$132,696
$2,300,000
5.77%
COLLIERS INTERNATIONAL P. 22