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QUAD - 3/4 Units Occupied
Jacksonville, FL 32244
8bd • 8ba • Built: 2024

Projected Income	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Projected Rent	$60,000	$61,800	$63,654	$65,564	$67,531	$69,556	$71,643	$73,792	$76,006	$78,286
Vacancy Losses	($4,800)	($4,944)	($5,092)	($5,245)	($5,402)	($5,565)	($5,731)	($5,903)	($6,080)	($6,263)
Operating Income	$55,200	$56,856	$58,562	$60,319	$62,128	$63,992	$65,912	$67,889	$69,926	$72,023

Estimated Expenses	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Property Taxes	($6,080)	($6,262)	($6,450)	($6,644)	($6,843)	($7,048)	($7,260)	($7,478)	($7,702)	($7,933)
Insurance	($2,280)	($2,348)	($2,419)	($2,491)	($2,566)	($2,643)	($2,722)	($2,804)	($2,888)	($2,975)
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	($5,244)	($5,401)	($5,563)	($5,730)	($5,902)	($6,079)	($6,262)	($6,449)	($6,643)	($6,842)
Maintenance	($1,200)	($1,236)	($1,273)	($1,311)	($1,351)	($1,391)	($1,433)	($1,476)	($1,520)	($1,566)
Other	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Operating Expenses	($14,804)	($15,248)	($15,706)	($16,177)	($16,662)	($17,162)	($17,677)	($18,207)	($18,753)	($19,316)

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	$40,396	$41,608	$42,856	$44,142	$45,466	$46,830	$48,235	$49,682	$51,172	$52,708
- Mortgage Payments	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)	($34,580)
= Cash Flow	$5,816	$7,028	$8,276	$9,562	$10,886	$12,250	$13,655	$15,102	$16,592	$18,128
+ Principal Reduction	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
+ Appreciation	$45,600	$48,336	$51,236	$54,310	$57,569	$61,023	$64,684	$68,566	$72,679	$77,040
= Gross Equity Income	$51,416	$55,364	$59,512	$63,872	$68,455	$73,273	$78,339	$83,667	$89,272	$95,168
Capitalization Rate	5.0%	4.9%	4.7%	4.6%	4.5%	4.3%	4.2%	4.1%	4.0%	3.9%
Cash on Cash Return	2.3%	2.8%	3.3%	3.8%	4.3%	4.8%	5.4%	5.9%	6.5%	7.1%
Return on Equity	18.8%	17.2%	15.9%	14.9%	14.1%	13.4%	12.8%	12.3%	11.9%	11.5%

Loan Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Market Value	$805,600	$853,936	$905,172	$959,482	$1,017,051	$1,078,075	$1,142,759	$1,211,325	$1,284,004	$1,361,044
- Loan Balance	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)	($532,000)
= Equity	$273,600	$321,936	$373,172	$427,482	$485,051	$546,075	$610,759	$679,325	$752,004	$829,044
Loan-to-Value Ratio	66.0%	62.3%	58.8%	55.4%	52.3%	49.3%	46.6%	43.9%	41.4%	39.1%
Potential Cash-Out Refi	$193,040	$236,542	$282,655	$331,534	$383,346	$438,267	$496,483	$558,192	$623,604	$692,940

Sale Analysis	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9	Year 10
Equity	$273,600	$321,936	$373,172	$427,482	$485,051	$546,075	$610,759	$679,325	$752,004	$829,044
- Closing Costs	($56,392)	($59,776)	($63,362)	($67,164)	($71,194)	($75,465)	($79,993)	($84,793)	($89,880)	($95,273)
= Proceeds After Sale	$217,208	$262,160	$309,810	$360,319	$413,858	$470,609	$530,766	$594,532	$662,124	$733,771
+ Cumulative Cash Flow	$5,816	$12,844	$21,120	$30,682	$41,568	$53,818	$67,473	$82,574	$99,167	$117,294
- Approximate Cash Invested	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)	($253,840)
= Net Profit	($30,816)	$21,164	$77,090	$137,160	$201,585	$270,587	$344,398	$423,266	$507,451	$597,226
Internal Rate of Return	-12.1%	4.1%	9.4%	11.8%	12.9%	13.5%	13.8%	13.9%	13.9%	13.9%
Return on Investment	-12.1%	8.3%	30.4%	54.0%	79.4%	106.6%	135.7%	166.7%	199.9%	235.3%

*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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