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New Construction near TSMC
Surprise, AZ 85361
3bd • 2ba • 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	$24,600	$25,338	$26,098	$26,881	$27,688	$28,518	$29,374	$30,255	$31,163	$32,097
Vacancy Losses	($1,968)	($2,027)	($2,088)	($2,150)	($2,215)	($2,281)	($2,350)	($2,420)	($2,493)	($2,568)
Operating Income	$22,632	$23,311	$24,010	$24,731	$25,473	$26,237	$27,024	$27,835	$28,670	$29,530

Estimated Expenses	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Property Taxes	($1,624)	($1,672)	($1,723)	($1,774)	($1,828)	($1,882)	($1,939)	($1,997)	($2,057)	($2,119)
Insurance	($812)	($836)	($861)	($887)	($914)	($941)	($969)	($999)	($1,028)	($1,059)
Management Fees	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
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	($492)	($507)	($522)	($538)	($554)	($570)	($587)	($605)	($623)	($642)
Other	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Operating Expenses	($4,128)	($4,252)	($4,379)	($4,510)	($4,646)	($4,785)	($4,929)	($5,077)	($5,229)	($5,386)

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	$18,504	$19,059	$19,631	$20,220	$20,827	$21,452	$22,095	$22,758	$23,441	$24,144
- Mortgage Payments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
= Cash Flow	$18,504	$19,059	$19,631	$20,220	$20,827	$21,452	$22,095	$22,758	$23,441	$24,144
+ Principal Reduction	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
+ Appreciation	$24,357	$25,818	$27,367	$29,009	$30,750	$32,595	$34,550	$36,623	$38,821	$41,150
= Gross Equity Income	$42,861	$44,878	$46,998	$49,229	$51,577	$54,046	$56,646	$59,381	$62,262	$65,294
Capitalization Rate	4.3%	4.2%	4.1%	3.9%	3.8%	3.7%	3.6%	3.5%	3.4%	3.3%
Cash on Cash Return	4.5%	4.6%	4.8%	4.9%	5.1%	5.2%	5.4%	5.6%	5.7%	5.9%
Return on Equity	10.0%	9.8%	9.7%	9.6%	9.5%	9.4%	9.3%	9.2%	9.1%	9.0%

Loan Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Market Value	$430,302	$456,120	$483,487	$512,496	$543,246	$575,841	$610,391	$647,015	$685,836	$726,986
- Loan Balance	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
= Equity	$430,302	$456,120	$483,487	$512,496	$543,246	$575,841	$610,391	$647,015	$685,836	$726,986
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	$387,272	$410,508	$435,138	$461,247	$488,921	$518,257	$549,352	$582,313	$617,252	$654,287

Sale Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Equity	$430,302	$456,120	$483,487	$512,496	$543,246	$575,841	$610,391	$647,015	$685,836	$726,986
- Closing Costs	($30,121)	($31,928)	($33,844)	($35,875)	($38,027)	($40,309)	($42,727)	($45,291)	($48,008)	($50,889)
= Proceeds After Sale	$400,181	$424,191	$449,643	$476,621	$505,219	$535,532	$567,664	$601,724	$637,827	$676,097
+ Cumulative Cash Flow	$18,504	$37,564	$57,195	$77,415	$98,242	$119,694	$141,789	$164,547	$187,987	$212,131
- Approximate Cash Invested	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)	($410,004)
= Net Profit	$8,680	$51,751	$96,833	$144,032	$193,456	$245,221	$299,448	$356,266	$415,810	$478,224
Internal Rate of Return	2.1%	6.3%	7.6%	8.3%	8.7%	8.9%	9.1%	9.2%	9.2%	9.3%
Return on Investment	2.1%	12.6%	23.6%	35.1%	47.2%	59.8%	73.0%	86.9%	101.4%	116.6%

*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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