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Category > Business & Finance Posted 12 Dec 2017 My Price 10.00

Estimating vacancy and collection losses at 5 percent

  1. Given the following owner’s income and expense estimates for an apartment property, formulate a reconstructed operating statement. The building consists of 10 units that could rent for $550 per month each.

 

 

Owner’s Income Statement

Rental income (last year)

  

$60,600

Less: Expenses

    

Power

$2,200

  

Heat

1,700

  

Janitor

4,600

  

Water

3,700

  

Maintenance

4,800

  

Reserves for replacement

2,800

  

Management

3,000

  

Depreciation

5,000

  

Mortgage payments

6,300

34,100

Net income

  

$26,500

 

 

Estimating vacancy and collection losses at 5 percent of potential gross income, reconstruct the operating statement to obtain an estimate of NOI. Remember, there may be items in the owner’s statement that should not be included in the reconstructed operating statement. Using the NOI and a Ro of 11.0 percent, calculate the property’s indicated market value. Round your answer to the nearest $500.

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CourseLover
(12)
Status NEW Posted 12 Dec 2017 01:12 PM My Price 10.00

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