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New Construction near TSMC
Surprise, AZ 85361
3bd • 2.5ba • Built: 2025

Projected Income	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Projected Rent	$24,000	$24,720	$25,462	$26,225	$27,012	$27,823	$28,657	$29,517	$30,402	$31,315
Vacancy Losses	($1,920)	($1,978)	($2,037)	($2,098)	($2,161)	($2,226)	($2,293)	($2,361)	($2,432)	($2,505)
Operating Income	$22,080	$22,742	$23,425	$24,127	$24,851	$25,597	$26,365	$27,156	$27,970	$28,809

Estimated Expenses	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Property Taxes	($1,480)	($1,524)	($1,570)	($1,617)	($1,666)	($1,716)	($1,767)	($1,820)	($1,875)	($1,931)
Insurance	($740)	($762)	($785)	($809)	($833)	($858)	($884)	($910)	($937)	($966)
Management Fees	($1,766)	($1,819)	($1,874)	($1,930)	($1,988)	($2,048)	($2,109)	($2,172)	($2,238)	($2,305)
Leasing/Advertising Fees	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Association Fees	($1,200)	($1,236)	($1,273)	($1,311)	($1,351)	($1,391)	($1,433)	($1,476)	($1,520)	($1,566)
Maintenance	($480)	($494)	($509)	($525)	($540)	($556)	($573)	($590)	($608)	($626)
Other	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Operating Expenses	($5,666)	($5,836)	($6,011)	($6,192)	($6,378)	($6,569)	($6,766)	($6,969)	($7,178)	($7,393)

Income Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Net Operating Income	$16,414	$16,906	$17,413	$17,936	$18,474	$19,028	$19,599	$20,187	$20,792	$21,416
- Mortgage Payments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
= Cash Flow	$16,414	$16,906	$17,413	$17,936	$18,474	$19,028	$19,599	$20,187	$20,792	$21,416
+ Principal Reduction	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
+ Appreciation	$22,200	$23,532	$24,944	$26,441	$28,027	$29,709	$31,491	$33,381	$35,383	$37,506
= Gross Equity Income	$38,614	$40,438	$42,357	$44,376	$46,501	$48,736	$51,090	$53,567	$56,176	$58,922
Capitalization Rate	4.2%	4.1%	4.0%	3.8%	3.7%	3.6%	3.5%	3.4%	3.3%	3.2%
Cash on Cash Return	4.4%	4.5%	4.7%	4.8%	4.9%	5.1%	5.2%	5.4%	5.6%	5.7%
Return on Equity	9.8%	9.7%	9.6%	9.5%	9.4%	9.3%	9.2%	9.1%	9.0%	8.9%

Loan Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Market Value	$392,200	$415,732	$440,676	$467,116	$495,143	$524,852	$556,343	$589,724	$625,107	$662,614
- Loan Balance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
= Equity	$392,200	$415,732	$440,676	$467,116	$495,143	$524,852	$556,343	$589,724	$625,107	$662,614
Loan-to-Value Ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Potential Cash-Out Refi	$352,980	$374,159	$396,608	$420,405	$445,629	$472,367	$500,709	$530,751	$562,596	$596,352

Sale Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Equity	$392,200	$415,732	$440,676	$467,116	$495,143	$524,852	$556,343	$589,724	$625,107	$662,614
- Closing Costs	($27,454)	($29,101)	($30,847)	($32,698)	($34,660)	($36,740)	($38,944)	($41,281)	($43,758)	($46,383)
= Proceeds After Sale	$364,746	$386,631	$409,829	$434,418	$460,483	$488,112	$517,399	$548,443	$581,350	$616,231
+ Cumulative Cash Flow	$16,414	$33,320	$50,733	$68,668	$87,142	$106,170	$125,769	$145,955	$166,748	$188,164
- Approximate Cash Invested	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)	($373,700)
= Net Profit	$7,460	$46,250	$86,861	$129,387	$173,925	$220,582	$269,468	$320,698	$374,397	$430,694
Internal Rate of Return	2.0%	6.1%	7.5%	8.2%	8.6%	8.8%	8.9%	9.0%	9.1%	9.2%
Return on Investment	2.0%	12.4%	23.2%	34.6%	46.5%	59.0%	72.1%	85.8%	100.2%	115.3%

*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.

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