Directions: Fill in the Gold Data Input Area Investment Data: Building Data: Tax Data: Building Ft2 Rent psf $ 40,000 21.00 Purchase Price $ 6,800,000 Other Acqusition Costs $ 25,000 Costs of Sale EOY 5 5.00% Disposition Cap Rate! 8.25% Assessment Land $ 1,000,000 Assessment Building $5,000,000 Assessment Total $ 6,000,000 Other Income $ Operating Expense Ratio YR 1 VACL YR1 2,000 30.00% 5.00% Financing Data: Property Type Commercial Depreciable Life Tax rate 37.0% Gain rate 20.0% Recapture Rate 25.0% Investor Data: : LTV DSCR Loan Points Loan Interest Rate Loan Amort Loan Term 75.00% 1.20 2.00% 7.00% 20 6 12.00% 9.00% Capital Improvements $ Disc Rate Before Tax Disc Rate After Tax Safe Rate for Negative CFS Reinvestment Rate for Positive CFS | 5.00% 10.00% Cost Recovery Tables: Commercial Full Yr % 2.564% 11.5 Mo % 2.461% Residential 3.636% 3.485% Inflation/Variable Rates: YEAR 1 NA YEAR 2 3.00% YEAR 3 3.00% YEAR 4 2.00% YEAR 5 2.00% YEAR 6 2.00% Growth 3.00% 3.00% 3.00% 3.00% 3.00% PGI Increase Rents Per Square Foot OE Increase Operating Expense Ratio Other Income Increase Vacancy/YR 7.00% 7.00% NA NA 7.00% 5.00% 7.00% 5.00% 7.00% 6.00% 6.00% 6.00% Initial Calculations: Initial Equity Investment Price + Acqustion Costs + Loan Fees -Loans =Equity Maximum Loan Amount LTV Loan ADS Constant DCR Loan Max Loan Effective Cost of Borrowing Lender Yield APR Year 1 Ratios: Acqusition Cap Rate Cash-on-Cash Op Expense Ratio Breakeven Occupancy Before Tax Cash Flow Analysis: Before Tax Cash Flows Before Tax Sale Yri Yr2 Yr3 Yr4 Yr5 Yr6 Sales Price Selling Costs -Mtg Ball SPBT Potential Rental Income -Vacancy & Collection + Other Income =Gross Operating Income -Operating Expenses =Net Operating income -Annual Debt Service =Before Tax Cash Flow Before Tax IRR & MIRR Before Tax NPV BTIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV After Tax Cash Flow Analysis: After Tax Cash Flows Yr2 Yr3 Yr1 Yr4 Yr5 NOI Interest -Depreciation -Loan Pts Amort =Taxable income * Tax Ratel Taxes Due After Tax Sale Proceeds Sales Price Selling Costs Mtp Bal SPBT -Tax on Sale SPAT BTCF -Taxes Due ATCF Calculation of Gain & Tax Sales Price Selling Costs Adjusted Basis Total Gain Calculation of Adjusted Basis Original Basis -Dep + Capital Imps Adj Basis Depreciation Net Gain Total Tax Ordinary Income at Sale Total Loan Points - Loan Pts Amortized =Loan Pts Remaining * Tax Rate -Tax Savings After Tax IRR & MIRR After Tax NPV ATIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV Mortgage Analysis: 1 2 3 5 EOY Ending Loan Bal Interest Principal PMTs Remaining Financial Leverage: 1 2 0 3 4 5 BTIRR Unleveraged BTIRR Leveraged Effective Tax: BTIRR ATIRR Effective Tax Directions: Fill in the Gold Data Input Area Investment Data: Building Data: Tax Data: Building Ft2 Rent psf $ 40,000 21.00 Purchase Price $ 6,800,000 Other Acqusition Costs $ 25,000 Costs of Sale EOY 5 5.00% Disposition Cap Rate! 8.25% Assessment Land $ 1,000,000 Assessment Building $5,000,000 Assessment Total $ 6,000,000 Other Income $ Operating Expense Ratio YR 1 VACL YR1 2,000 30.00% 5.00% Financing Data: Property Type Commercial Depreciable Life Tax rate 37.0% Gain rate 20.0% Recapture Rate 25.0% Investor Data: : LTV DSCR Loan Points Loan Interest Rate Loan Amort Loan Term 75.00% 1.20 2.00% 7.00% 20 6 12.00% 9.00% Capital Improvements $ Disc Rate Before Tax Disc Rate After Tax Safe Rate for Negative CFS Reinvestment Rate for Positive CFS | 5.00% 10.00% Cost Recovery Tables: Commercial Full Yr % 2.564% 11.5 Mo % 2.461% Residential 3.636% 3.485% Inflation/Variable Rates: YEAR 1 NA YEAR 2 3.00% YEAR 3 3.00% YEAR 4 2.00% YEAR 5 2.00% YEAR 6 2.00% Growth 3.00% 3.00% 3.00% 3.00% 3.00% PGI Increase Rents Per Square Foot OE Increase Operating Expense Ratio Other Income Increase Vacancy/YR 7.00% 7.00% NA NA 7.00% 5.00% 7.00% 5.00% 7.00% 6.00% 6.00% 6.00% Initial Calculations: Initial Equity Investment Price + Acqustion Costs + Loan Fees -Loans =Equity Maximum Loan Amount LTV Loan ADS Constant DCR Loan Max Loan Effective Cost of Borrowing Lender Yield APR Year 1 Ratios: Acqusition Cap Rate Cash-on-Cash Op Expense Ratio Breakeven Occupancy Before Tax Cash Flow Analysis: Before Tax Cash Flows Before Tax Sale Yri Yr2 Yr3 Yr4 Yr5 Yr6 Sales Price Selling Costs -Mtg Ball SPBT Potential Rental Income -Vacancy & Collection + Other Income =Gross Operating Income -Operating Expenses =Net Operating income -Annual Debt Service =Before Tax Cash Flow Before Tax IRR & MIRR Before Tax NPV BTIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV After Tax Cash Flow Analysis: After Tax Cash Flows Yr2 Yr3 Yr1 Yr4 Yr5 NOI Interest -Depreciation -Loan Pts Amort =Taxable income * Tax Ratel Taxes Due After Tax Sale Proceeds Sales Price Selling Costs Mtp Bal SPBT -Tax on Sale SPAT BTCF -Taxes Due ATCF Calculation of Gain & Tax Sales Price Selling Costs Adjusted Basis Total Gain Calculation of Adjusted Basis Original Basis -Dep + Capital Imps Adj Basis Depreciation Net Gain Total Tax Ordinary Income at Sale Total Loan Points - Loan Pts Amortized =Loan Pts Remaining * Tax Rate -Tax Savings After Tax IRR & MIRR After Tax NPV ATIRR CFO CF1 CF2 CF3 CF4 CF5 Discount Rate Investment Value NPV Mortgage Analysis: 1 2 3 5 EOY Ending Loan Bal Interest Principal PMTs Remaining Financial Leverage: 1 2 0 3 4 5 BTIRR Unleveraged BTIRR Leveraged Effective Tax: BTIRR ATIRR Effective Tax
