Wasatch St.

8 Plex, Midvale, UT

www.712wwasatchst.epropertysites.com

TEXT: 48068 to 79564

MLS 971542 or 971546

				LEASES
Name of Lessee		Apt. #		Starting Lease Date		Ending Lease Date		Rent		Deposit		# of Bedrooms
Matthew Hartker		24		1/6/2010		12/31/2010		$ 600.00		$ 450.00		2
Jose Jimenez		26		yearly				$ 525.00		$ 150.00		1
Felipe Zakapala		28		9/18/2010		8/31/2011		$ 500.00		$ 350.00		1
Juan Arrendondo		30		11/1/2009		10/31/2010		$ 500.00		$ -		1
Janet Escobar		32		9/11/2010		annual		$ 600.00		$ 450.00		2
Jose A. Hernandez		34		9/1/2009		8/31/2010		$ 600.00		$ 350.00		2
Abel Jose Soto		36		3/7/2010		2/28/2011		$ 500.00		$ 350.00		1
Gregorio Soto		38		9/1/2009		8/31/2010		$ 500.00		$ 350.00		1
Total Rents								$ 4,325.00		$ 2,450.00
Laundry income								$ 115.00
Monthly income								$ 4,440.00
Annually Income								$ 53,280.00

Property Name

Mr. Jordan

Annual Property Operating Data

Location

712 Wasatch

Type of Property

Apt.

464,900

Size of Property

8 Plex

(Sq. Ft./Units)

Purpose of analysis

349,675

115,225

Assessed/Appraised Values

Land

0

15%

Improvements

0

85%

Amort

Loan

Personal Property

0

0%

Balance

Periodic Pmt

Pmts/Yr

Interest

Period

Term

Total

0

100%

1st

$349,675

$2,095

12

5.25%

25

25

2nd

12

Adjusted Basis as of:

7-Jan-11

$464,900

$/SQ FT

%

ALL FIGURES ARE ANNUAL

or $/Unit

of GOI

COMMENTS/FOOTNOTES

POTENTIAL RENTAL INCOME

$4,325

51,900

100% occupied/always rented!

Less: Vacancy & Cr. Losses

(

3.%

of PRI )

1,557

EFFECTIVE RENTAL INCOME

50,343

Plus: Other Income (collectable)

1,380

115.00 monthly laundry (web service)

GROSS OPERATING INCOME

51,723

OPERATING EXPENSES:

Real Estate Taxes

2,960

2,009

Personal Property Taxes

Property Insurance

1,401

On Site Management

100.00

1,200

Manager # 26

Payroll

Expenses/Benefits

Taxes/Worker's Compensation

Repairs and Maintenance

Utilities:

Water

160.00

1,920

Gas

354.00

4,248

Garbage

113.00

1,356

Electric Common

63.00

756

Accounting and Legal

Licenses/Permits

Advertising

Supplies

TOTAL OPERATING EXPENSES

13,841

NET OPERATING INCOME

37,882

Less: Annual Debt Service

2095.45x12 = $25,145.03

Less: Participation Payments (from Assumptions)

-

Less: Leasing Commissions

-

Less: Funded Reserves

-

8% cap rate

CASH FLOW BEFORE TAXES

37,882

$12,737 a year in cash flow after apx debt.

Prepared for:

The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative.

Prepared by:

Terrilee Fitz

 

			UTILITIES	2009
712 Wasatch
WATER			WASTE			ELECTRIC			GAS
DATE	Amount		DATE	Amount		DATE	Amount		DATE	Amount
2009-12	$ 171.50		2009-12	$ 122.25		2009-12	$ 69.01		2009-12	$ 293.20
2009-11	$ 198.74		2009-11	$ 112.40		2009-11	$ 51.40		2009-11	$ 175.11
2009-10	$ 164.08		2009-10	$ 112.55		2009-10	$ 63.26		2009-10	$ 153.68
2009-9	$ 166.70		2009-9	$ 107.15		2009-9	$ 59.67		2009-9	$ 125.34
2009-8	$ 206.00		2009-8	$ 117.25		2009-8	$ 45.67		2009-8	$ 176.01
2009-7	$ 172.36		2009-7	$ 110.27		2009-7	$ 93.76		2009-7	$ 186.48
2009-6	$ 161.35		2009-6	$ 110.53		2009-6	$ 65.73		2009-6	$ 406.80
2009-5	$ 132.11		2009-5	$ 110.27		2009-5	$ 54.42		2009-5	$ 933.32
2009-4	$ 128.67		2009-4	$ 110.37		2009-4	$ 54.86		2009-4	$ 200.00
2009-3	$ 125.23		2009-3	$ 110.73		2009-3	$ 63.63		2009-3	$ 544.36
2009-2	$ 149.31		2009-2	$ 112.25		2009-2	$ 71.37		2009-2	$ 607.70
2009-1	$ 144.15		2009-1	$ 119.64		2009-1	$ 68.28		2009-1	$ 440.38
	$ 1,920.20			$ 1,355.66			$ 761.06			$ 4,242.38
AVERAGE cost per month	$ 160.02			$ 112.97			$ 63.42			$ 353.53

2010
WATER			WASTE			ELECTRIC			GAS
DATE	Amount		DATE	Amount		DATE	Amount		DATE	Amount
2010-1	$160.70		2010-1	$124.06		2010-1	$104.18		2010-1	$415.21
2010-2	$155.30		2010-2	$118.90		2010-2	$69.01		2010-2	$469.67
2010-3	$162.17		2010-3	$119.43		2010-3	$68.91		2010-3	$371.27
2010-4	$171.51		2010-4	$119.22		2010-4	$74.16
						2010-5	$59.09
	$162.42			$120.40			$75.07			$418.72

Name of Lessee		Apt. #		Starting Lease Date		Ending Lease Date		Rent		Deposit		# of Bedrooms
Matthew Hartker		24		1/6/2010		12/31/2010		$ 600.00		$ 450.00		2
Jose Jimenez		26		Month to Month		M/M		$ 525.00		$ 150.00		1
Felipe Zakapala		28		9/18/2010		8/31/2011		$ 500.00		$ 350.00		1
Juan Arrendondo		30		11/1/2009		10/31/2010		$ 500.00		$ -		1
Janet Escobar		32		9/11/2010		annual		$ 600.00		$ 450.00		2
Jose A. Hernandez		34		9/1/2009		8/31/2010		$ 600.00		$ 350.00		2
Abel Jose Soto		36		3/7/2010		2/28/2011		$ 500.00		$ 350.00		1
Gregorio Soto		38		9/1/2009		8/31/2010		$ 500.00		$ 350.00		1
Laundry Income Total Rents								$ 4325.00.		$ 2,450.
Plus Laundry Income $115/month								$4440.00.

	2008 SCHEDULE E
Rents Received:		$ 48,345.00
Laundry Income:		$ 1,342.00
Total of income			$ 49,687.00
Expenses:
	Cleaning & Maintenance:	$ (4,822.00)
	Repairs:	$ (2,009.00)
Total of Maintenance/Repairs
	Insurance:	$ (1,559.00)
	Mgmt Regiment:	$ (900.00)
	Supplies:	$ (2,141.00)
Taxes:		$ (2,960.00)
Utilities:		$ (7,801.00)
Total expenses			$ (22,192.00)
Total Income:		$ 27,495.00

	2009 SCHEDULE E				Maintenance items	Apt #	Apt #	Apt #	Apt #
					1 water heater 2008	used for all apts.
Rents Received:		$49,754.00			Web Laundry contract
Laundry Income:		$ 942.00			Out side stairs 2007
Total income			$50,696.00		2 Refrigerators	28	38
					2 stoves	28	34
Expenses:					4 Dishwashers	24	30	34	38
	Cleaning & Maintenance:	$(3,296.00)
	Repairs:	$(4,526.00)			4 Garbage disposals	$24.00	26	28	30
Total Main/Repairs			$(7,822.00)		Bathroom Ceiling fans	32	34	26
	Insurance:	$(1,401.00)			Ceiling fan	38
	Mgmt Regiment:	$(1,200.00)
	Supplies:	$(1,756.00)
Taxes:		$(2,960.00)			Dishwasher	36
Utilities:		$(7,863.00)			not working but tenant doesn't want one
Total Espenses	(Tax deduction)		$(23,002.00
Total Income:		$27,694.00

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