Your client is interested in purchasing for all cash, Garden Park Apartments, a 100-unit apartment complex in Milford, CT. There are 50 one-bedroom units and 50 two-bedroom units. 47 one- bedroom units are currently rented at $1,500 per month and 45 two-bedroom units at $2,100 per month. Market rent for one -bedroom units is $1,700 per month and two-bedrooms rents are $2,500 per month. All rents are plus utilities. Market vacancy rate is about 4.5%. The property generates laundry income of $20.per month per occupied unit. Operating Expenses are: RE Taxes $2,500 per unit per year, personal property tax is a total of $3,100 per year. Property insurance is $145.00 per unit. Property Management is 5% of Gross operating income. Payroll is $50,000 per year; Expense benefits are $12,000 and payroll taxes are 30% of payroll. Repairs and Maintenance is $175 per unit per year. Water is $1,200 quarterly, sewer tax is $800 semi-annually, common area electric is $750 per month, Common area Gas Heat is $560 per month October to April and $150 May to September. Legal fees and accounting run about $5,500 per year The elevator permit is $450. Advertising runs about $3,100 per year. Supplies run about $50 per unit per year. Snow removal averages about $20,000 per year, Ground care runs about $75,000 per year. Elevator Contract is $2,500 per quarter. What is the NOI in year one and year of sale? Do APOD, NO Cash flow Analysis form or Cash Sale Work sheet