Escolar Documentos
Profissional Documentos
Cultura Documentos
Instructions :
Property Assumptions
1 Name Drug Store Tenant
2 Location Main and Main
3 Type of Property Retail
4 Purpose of Analysis Risk Analysis
5 Prepared By Scottsdale Analysts
6 Size (Square feet or Number of Units) 15,000
7 Assessed/Appraised Value of Land $3,200,000
8 Assessed/Appraised Value of Improvements $1,800,000
9 Assessed/Appraised Value of Personal Property
10 Useful Life of Improvements (Years) 39.0
11 Useful Life of Personal Property (Years)
12 Acquisition Price $1,000,000
13 Acquisition Costs
14 Potential Rental Income and Escalations Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
15 Potential Rental Income Yr 1 total amount and annual % changes 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
16 Other Income (Collectable)
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
17 Annual Vacancy Rates (Percent of Potential Rental Income) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
18 Operating Expenses and Escalations Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
19 Total Operating Expenses
Investor/Owner Assumptions
26 Ordinary Income Marginal Tax Rate 35.00%
27 Capital Gains Tax Rate 15.00%
28 Cost Recovery Recapture Tax Rate 25.00%
29 Total Capital to Invest $5,000,000
30 After Tax Reinvestment Rates $0 To 5.00%
31 $0 To 5.00%
$0 And above 5.00%
31 Anticipated Holding Period (1 - 10 Years) 10
32 Disposition Price Cap Rate 7.50%
33 Disposition Cost of Sale 3.50%
Note: Do not enter any information on this sheet.
All values are derived from Input Sheet.
TAXABLE INCOME
End of Year 1 2 3 4 5 6 7 8 9 10 11
1 POTENTIAL RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
2 -Vacancy & Credit Losses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
3 EFFECTIVE RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
4 +Other Income (collectable) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
5 GROSS OPERATING INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
6 TOTAL OPERATING EXPENSES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
7 NET OPERATING INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
8 -Interest-First Mortgage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
9 -Interest-Second Mortgage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
10 -Cost Recovery-Improvements $44,226 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $44,226
11 -Cost Recovery-Personal Property $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
12 -Loan Costs Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
13 -
14 -
15 REAL ESTATE TAXABLE INCOME ($44,226) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($44,226)
16 Tax Liability (Savings) at 35% ($15,479) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($15,479)
CASH FLOW
17 NET OPERATING INCOME (LINE 8) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
18 -Annual Debt Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
19 -
20 -
21 -
22 CASH FLOW BEFORE TAXES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
23 -Tax Liability (Savings) (Line 17 ) ($15,479) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($15,479)
24 CASH FLOW AFTER TAXES $15,479 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $15,479
Note: Do not enter any information on this sheet.
All values are derived from other sheets.
O ($1,000,000) O ($1,000,000)
1 $0 1 $15,479
2 $0 2 $16,153
3 $0 3 $16,153
4 $0 4 $16,153
5 $0 5 $16,153
6 $0 6 $16,153
7 $0 7 $16,153
8 $0 8 $16,153
9 $0 9 $16,153
10 $0 10 $15,479
Note: Do not enter any information on this sheet.
All values are derived from other
sheets.
TAXABLE INCOME
End of Year 1 2 3 4 5 6 7 8 9 10 11
1 POTENTIAL RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
2 -Vacancy & Credit Losses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
3 EFFECTIVE RENTAL INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
4 +Other Income (collectable) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
5 GROSS OPERATING INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
6 TOTAL OPERATING EXPENSES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
7 NET OPERATING INCOME $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
8 -Interest-First Mortgage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
9 -Interest-Second Mortgage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
10 -Cost Recovery-Improvements $44,226 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $46,152 $44,226
11 -Cost Recovery-Personal Property $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
12 -Loan Costs Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
13 -
14 -
15 REAL ESTATE TAXABLE INCOME ($44,226) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($46,152) ($44,226)
16 Tax Liability (Savings) at 35% ($15,479) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($15,479)
CASH FLOW
17 NET OPERATING INCOME (LINE 8) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
18 -Annual Debt Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
19 -
20 -
21 -
22 CASH FLOW BEFORE TAXES $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
23 -Tax Liability (Savings) (Line 17 ) ($15,479) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($16,153) ($15,479)
24 CASH FLOW AFTER TAXES $15,479 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $16,153 $15,479
Note: Do not enter any information on this sheet.
All values are derived from other sheets.
O ($1,000,000) O ($1,000,000)
1 $0 1 $15,479
2 $0 2 $16,153
3 $0 3 $16,153
4 $0 4 $16,153
5 $0 5 $16,153
6 $0 6 $16,153
7 $0 7 $16,153
8 $0 8 $16,153
9 $0 9 $16,153
10 $0 10 $15,479
Note: Do not enter any information on this sheet.
All values are derived from other sheets.
Mortgage
Portfolio
Before Tax Yield Err:523
act
$0 120 $0.00 + $0
Prorperty Yield
Property Yield
Err:523 Err:523
Err:523 Err:523
Err:523 Err:523
Note: Do not enter any information on this sheet.
All values are derived from other sheets.
EOY $
0 ($1,000,000)
1 $15,479 $0
5.00%
2 $16,153 + $16,253 = $32,406
5.00%
3 $16,153 $0 + $34,027 =
4 $16,153 $0 +
5 $16,153 $0
6 $16,153 $0
7 $16,153 $0
8 $16,153 $0
9 $16,153 $0
10 $15,479 + $0
IRR = Err:523
Total Capital
$5,000,000
Invested
ncing
($4,000,000) 5.00%
$50,180
5.00%
$52,689 = $68,842
5.00%
+ $72,284 = $88,437
5.00%
+ $92,859 = $109,012
5.00%
+ $114,463 = $130,616
5.00%
+ $137,147 =
Capital Acc
Capital
10 Years $6,717,032
Accumulation
$0
$0
$0
$0
$0
$0
$0
$153,300 $0
5.00%
$160,965 = $177,118 $0
5.00%
+ $185,974 = $201,453
EOY $
0 ($1,000,000) ($4,000,000)
1 $15,479 $0
5.00%
2 $16,153 + $16,253 = $32,406
5.00%
3 $16,153 $0 + $34,027 = $50,180
5.00%
4 $16,153 $0 + $52,689
5 $16,153 $0
6 $16,153 $0
7 $16,153 $0
8 $16,153 $0
9 $16,153 $0
10 $15,479 + $0
IRR = Err:523
Total Capital
$5,000,000
Invested
5.00%
= $68,842
5.00%
+ $72,284 = $88,437
5.00%
+ $92,859 = $109,012
5.00%
+ $114,463 = $130,616
5.00%
+ $137,147 = $153,300
5.00%
+ $160,965 =
Capital Accumulatio
Capital
10 Years $6,717,032
Accumulation
$0
$0
$0
$0
$0
$0
$0
$0
$177,118 $0
5.00%
$185,974 = $201,453
Summary
Measures of Investment Performance
Without
Financing
Before Tax IRR Err:523
After Tax IRR Err:523
After Tax Capital Accumulation $6,717,032
After Tax Annual Growth Rate of Capital 3.00%
ation on this sheet.
om other sheets.
With
Financing
Err:523
Err:523
$6,717,032
3.00%