Acquisition
Price	$1,550,000
-Loans	$1,240,000
Down Payment	$310,000
+Acq Costs	$77,500
+Loan Points	$18,600
Investment	$406,100
Total Units	42
**APOD Projected is the (Jan 12 - Dec 12) cash flow (first 12 months).

Ratios
Capitalization Rate	8.70%
This APOD Capitalization Rate has been calculated by using the First 12 Months NOI 134916 (shown below). Divide by Purchase Price $1,550,000 and convert to a percentage equaling 8.70%. close
Gross Income Multiplier	7.73
This APOD Gross Income Multiplier has been calculated by using the Purchase Price $1,550,000 divided by First 12 Months Gross Income 200400 (shown below). The result equals 7.73. close
Cash on Cash	1.07%
This APOD Cash on Cash has been calculated by using the First 12 Months Net Operating Cash Flow 4332 (shown below). Divide by (Downpayment $310,000 + Acq Costs $77,500 + Loan Points $18,600) and convert to a percentage equaling 1.07%. close
Debt Coverage Ratio	1.033
This APOD Debt Coverage Ratio has been calculated by using the First 12 Months NOI 134916 (shown below). Divide by First 12 Months Total Debt Service 130584 equlaing the ratio of 1.033 close
Price/Unit	$36,905
This Price/Unit has been calculated by using the Purchase Price $1,550,000 divided by Total Units 42 which equals $36,905. close
Loans to Value	80.00%
This APOD Loans to Value has been calculated by using the loans $1,240,000 divided by Purchase Price $1,550,000 and convert to a percentage equaling 80.00%. close
Loans Constant	10.53%
This APOD Loans Constant has been calculated by using the Total Debt Service 130584 divided by loans $1,240,000 and convert to a percentage equaling 10.53%. close
Loans/Unit	$29,524
This APOD Loans/Unit has been calculated by using the Loans $1,240,000 divided by Total Units 42 which equals $29,524. close

	$/Unit	% of GI	Annual $
Gross Incomehide
1 Bedroom Units (10 units)	$3,937.00	19.6%	$39,370
2 Bedroom Units (32 units)	$4,920.00	78.6%	$157,440
Laundry	$85.71	1.8%	$3,600

Total Gross Income	$4,771.67	100.0%	$200,410
Less: Vacancy & Credit Loss	$238.81	5.0%	$10,030
Effective Income	$4,533.10	95.0%	$190,390
Less: Expenseshide
Property Taxes	$443.10	9.3%	$18,610
Insurance	$71.43	1.5%	$3,000
Pool	$28.57	0.6%	$1,200
Gardener	$18.00	0.4%	$756
Utilities	$114.29	2.4%	$4,800
Resident Manager	$238.00	5.0%	$9,996
Maintenance	$76.29	1.6%	$3,204
Reserve	$76.29	1.6%	$3,204
Miscellaneous	$28.57	0.6%	$1,200
Management Fee	$226.57	4.7%	$9,516

Total Operating Expenses	$1,320.81	27.7%	$55,474
Net Operating Income	$3,212.52	67.3%	$134,926
Less: Debt Service	$3,109.38	65.2%	$130,594
Net Operating Cash Flow	$103.38	2.2%	$4,342