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| Gross Potential Rent | $2,880,000 |
| Less: Vacancy (5.0%) | ($144,000) |
| Less: Concessions | ($28,800) |
| Effective Gross Income | $2,707,200 |
| Plus: Other Income | $192,000 |
| Less: Operating Expenses | ($1,073,200) |
| Net Operating Income | $1,026,000 |
| IRR | 3-Year | 5-Year | 7-Year | 10-Year |
|---|---|---|---|---|
| 5.50% Cap | 22.4% | 20.1% | 19.2% | 18.1% |
| 6.00% Cap | 19.8% | 18.7% | 17.5% | 16.8% |
| 6.50% Cap | 15.2% | 14.8% | 14.1% | 13.6% |
| 7.00% Cap | 10.1% | 11.2% | 12.0% | 12.4% |
Unit mix: 120 1BR/1BA ($1,050/mo avg) | 80 2BR/2BA ($1,350/mo avg) | 40 3BR/2BA ($1,650/mo avg)
Current occupancy: 95.8% | Avg rent per SF: $1.72 | Loss to lease: 4.2% ($121,000 annually)
Dallas-Fort Worth MSA. Population growth: 1.8% YoY. Multifamily vacancy: 5.2%. Rent growth: 3.1% trailing 12M.
5 comparable transactions identified within 3-mile radius. Avg cap rate: 6.25%. Avg price/unit: $68,500.
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