The lender requires a minimum Debt Coverage Ratio of 1.3 for the first year of the analysis. All else being equal / unchanged from the original spreadsheet is an 80% Loan to Value possible?

Year		1
Loan		$ 1,325,000
Payment		$9,791.63
EOY Bal.		$1,306,239
Interest		$98,739
Before Tax Cash Flows		1
Gross Income		$ 300,000
Less Vacancy		7%
		$ 21,000
Effective Gross Income		$ 279,000
Less Operating Expenses		$ 120,000
Net Operating Income		$ 159,000
Annual Debt Service		$117,500
Before Tax Cash Flow from Operations		$ 41,500
After Tax Cash Flow
Net Operating Income		$ 159,000
Depreciation		$ 51,394
interest		$98,739
Taxable Income		$ 8,867
Taxes		$ 2,483
After Tax Cash Flow from Operations		$ 39,018
Sales Price		$ 1,715,526
Less Sales Exp-3%		$ 51,466
Gross Proceeds		$ 1,664,061
Basis		$ 1,715,273
Capital Gain		$ (51,212)
Capital Gain Tax		$ (7,682)
Net Gain		$ (43,530)
After-Tax Net Proceeds from Sale
	Equity	Yr 1
Before-Tax CF Operations and Sale	$ (441,667)	$ 41,500
IRR Before Tax Cash Flows	17.6%
NPV	$111,351
After-Tax Cash Flows	$ (441,667)	$ 39,018
IRR ATCF	14.3%
NPV	$52,854
Breakeven Occupancy:		79%
Partition ATIRR:
PV After Tax Cash Flows from Operations		$147,852.68
PV After Tax Sales Proceeds		$293,813.99
		$441,666.67