Assume the following for a stablized real estate project:
Number of Apartments:		20	units.
Monthly Rent (Year 1):		$2,500	per month.
Rental Growth Rate:		4.0000%	per year.
Expense Ratio:		53.0000%	(of rental revenues)
Miscellaneous Income:		$12,000	per year
Misc. Income Growth Rate:		2.0000%	per year.
Going-In Cap Rate:		5.7500%	per year.
Going-Out Cap Rate:		6.0000%	per year.
Holding Period:		5	years.

Question
Assume an interest-only loan at 6% and the following underwriting constraints. What is the maximum amount that will be lent?
Maximum Loan Amount Given the Following Constraints:
Maximum Loan-To-Value:			75.0%
Minimum Debt Service Coverage Ratio:			1.35
Minimum Debt Yield:			7.0%

Question:
Construct an income statement and calculate the following:
Unleverage Yield
Cash on Cash (Leveraged) Yield.
Annual DSCR
Unleveraged Holding Period Return
Unleveraged Holding Period Profit
Unleveraged Holding Period Investment Mulitple
Leveraged Holding Period Return
Leveraged Holding Period Profit
Leveraged Holding Period Investment Mulitple