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Distribution |
|
Demographics |
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|
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Studios | 3 |
|
Existing Tenants | 2 |
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One Bedrooms | 13 |
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Low/Moderate Income | 20 |
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|
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Two Bedrooms | 4 |
|
Total | 22 |
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|
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Three Bedrooms | 2 |
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|
|
Total | 22 |
|
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*3 commercial spaces not included
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|
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Development Costs |
|
Financing |
|
||
|
|
Acquisition | 432,000 |
|
Private: 52/10th Associates LLC | 4,555,662 |
|
|
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Soft Costs | 707,500 |
|
Total | 4,555,662 |
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|
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Construction | 3,370,500 |
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Capital Reserves | 45,662 |
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Total
|
4,555,662
|
|
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||
|
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Construction Cost per Unit: 153,205 Total Development cost per unit: 207,076
|
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Annual Expense |
|
Annual Income |
|
||
|
|
Operating | 186,388 |
|
Rental Income | 214,365 |
|
|
|
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Commercial Income | 9,460 |
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|
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Interest Income | 366 |
|
||
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|
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Net Revenue
|
224,191
|
|
||
|
|
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Surplus/Deficit | 37,803 |
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|
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Operating Coverage | 120% |
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