9 Property Name 10 Purchase Price 11 12 Unit Mix 13 Unit Type 14 1BR/1BA 15 2BR/1.5BA 16 3BR/2BA 17 Total 18 Annual Rent (PGI) 19 20 Operating Information 21 22 Annual Other Income Monthly Other Income Per Unit 23 Annual Rent/Income Increase % 24 Vacancy and Collection Loss % 25 OPEX % of EGI 26 27 Investor Criteria 28 Target Yield (Discount Rate) 29 Holding Period 30 Terminal OAR Broadmore Apartments where applicable. $6,250,000 # Monthly Rent 40 $675 40 $895 25 $950 105 $86,550 $1,038,600 $25 $2,625 5.00% 2.00% 30% 13% 5 8.75% 1 Cash Flow Analysis 2 Unlevered Before Tax Cash Flow 455AWNH 3 Potential Gross Income (PGI) Less: Vacancy and Collection Loss 6 Other Income 7 Effective Gross Income (EGI) 8 Operating Expenses (OPEX) 9 Net Operating income (NOI) 10 Purchase Price 11 12 Total 13 14 Property Metrics 15 Unlevered NPV 16 17 A Net Proceeds from Sale Unlevered IRR OAR at Acquisition B C Year D E 1 $1,090,530 $20,772 $2,625 $311,580 F LL 2 $1,145,057 $21,811 $2,625 $327,159 G 3 $1,202,309 $22,901 $2,625 $343,517 H 4 $1,262,425 $24,046 $2,625 $360,693 5 $1,325,546 $25,248 $2,625 $378,727 J 6 $1,391,823 -$27,836 $2,756 $1,366,743 -$410,023 $956,720 A 1 Reversion 2 Unlevered Before Tax Reversion 3 NOI 4 Terminal OAR 5 Anticipated Sale Price 6 Less: Cost of Sale (4%) 7 Net Proceeds from Sale B 8.75% $0 234 1 2 3 5 4 6 5 7 6 8 7 9 8 10 9 11 10 12 Bonus 37 What is the NPV? Is this investment worth pursuing? What is the IRR? What is the NOI in year 4? What was the PGI in Year 3? What is the anticipated sale price at the end of the holding period? What is the OAR at acquisition? How much was paid in selling costs at the end of the holding period? What was the OPEX in Year 5? What was lost to vacancy and collection in Year 2? What is the annual compound rate of growth for the NOI over the holding period? 9 Property Name 10 Purchase Price 11 12 Unit Mix 13 Unit Type 14 1BR/1BA 15 2BR/1.5BA 16 3BR/2BA 17 Total 18 Annual Rent (PGI) 19 20 Operating Information 21 22 Annual Other Income Monthly Other Income Per Unit 23 Annual Rent/Income Increase % 24 Vacancy and Collection Loss % 25 OPEX % of EGI 26 27 Investor Criteria 28 Target Yield (Discount Rate) 29 Holding Period 30 Terminal OAR Broadmore Apartments where applicable. $6,250,000 # Monthly Rent 40 $675 40 $895 25 $950 105 $86,550 $1,038,600 $25 $2,625 5.00% 2.00% 30% 13% 5 8.75% 1 Cash Flow Analysis 2 Unlevered Before Tax Cash Flow 455AWNH 3 Potential Gross Income (PGI) Less: Vacancy and Collection Loss 6 Other Income 7 Effective Gross Income (EGI) 8 Operating Expenses (OPEX) 9 Net Operating income (NOI) 10 Purchase Price 11 12 Total 13 14 Property Metrics 15 Unlevered NPV 16 17 A Net Proceeds from Sale Unlevered IRR OAR at Acquisition B C Year D E 1 $1,090,530 $20,772 $2,625 $311,580 F LL 2 $1,145,057 $21,811 $2,625 $327,159 G 3 $1,202,309 $22,901 $2,625 $343,517 H 4 $1,262,425 $24,046 $2,625 $360,693 5 $1,325,546 $25,248 $2,625 $378,727 J 6 $1,391,823 -$27,836 $2,756 $1,366,743 -$410,023 $956,720 A 1 Reversion 2 Unlevered Before Tax Reversion 3 NOI 4 Terminal OAR 5 Anticipated Sale Price 6 Less: Cost of Sale (4%) 7 Net Proceeds from Sale B 8.75% $0 234 1 2 3 5 4 6 5 7 6 8 7 9 8 10 9 11 10 12 Bonus 37 What is the NPV? Is this investment worth pursuing? What is the IRR? What is the NOI in year 4? What was the PGI in Year 3? What is the anticipated sale price at the end of the holding period? What is the OAR at acquisition? How much was paid in selling costs at the end of the holding period? What was the OPEX in Year 5? What was lost to vacancy and collection in Year 2? What is the annual compound rate of growth for the NOI over the holding period