Embed Size (px)
Citation preview
John Flask
REALTOR
216.403.1235
Russell Real Estate Services - Commercial Division
Mobile Home Park Norwalk, Ohio 44857
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
Real Estate Investment Details………………………………………………………………3
Property Photos………………………………………………………………………………4 - 5
Maps and Aerials……………………………………………………………………………5 - 6
Executive Summary…………………………………………………………………………7 -9
TABLE OF CONTENTS Norwalk, Ohio 44857
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
REAL ESTATE INVESTMENT DETAILS Norwalk, Ohio 44857
ANALYSIS
Analysis Date November 2018
PROPERTY
Property Mobile Home Park
Address
Norwalk, Ohio 44857
PURCHASE INFORMATION FINANCIAL INFORMATION
Property Type Zoned Residential Down Payment $129,800
Purchase Price $649,000
Units 39
Total Rentable Sq. Ft. 0
LOANS
DEBT TERM AMORTIZATION RATE PAYMENT LO COSTS
FIXED $519,200 25 Years 25 Years 5.0% $3,036
INCOME & EXPENSES
Gross Operating Income $136,656
Monthly GOI $11,388
Total Annual Expenses ($63,016)
Monthly Expenses ($5,251)
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
PROPERTY PHOTOS Norwalk, Ohio 44857
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
PROPERTY PHOTOS Norwalk, Ohio 44857
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
MAPS AND AERIALS Norwalk, Ohio 44857
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
EXECUTIVE SUMMARY Norwalk, Ohio 44857
ACQUISITION COSTS
Purchase Price, Points and Closing Costs $649,000
Investment—Cash $129,800
First Loan $519,200
INVESTMENT INFORMATION
Purchase Price $649,000
Price per Unit $19,667
Price per Sq. Ft. NA
Income per Unit $3,127
Expenses per Unit $1,624
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income $136,656
Total Vacancy and Credits ($21,793)
Operating Expenses ($63,016)
Net Operating Income $51,847
Debt Service ($36,432)
Cash Flow Before Taxes $15,415
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes 11.88%
Debt Coverage Ratio .86
Capitalization Rate 7.99%
Gross Rent Multiplier 4.75
Gross Income/Square Feet $0
Gross Expenses/Square Feet $0
Operating Expense Ratio 37.94%
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
EXECUTIVE SUMMARY Norwalk, Ohio 44857
Number of Sites 39
Number of Homes Owned by Residents
33 Average Lot Rent $261/281
Number of Vacant Lots 6 Number of Vacant Homes 0
Homes Sold on Contract 0
Number of Rentals 0
Monthly Trash Removal $380
Current Monthly Income $9,572 Monthly Income Annualized $114,863
Last Rent Increase September 1, 2018 Amount of Increase $25
GENERAL INFORMATION
Age of Community 1980’s
Average Age of Homes 25-35 Years Old
Average Size of Homes 14x70
Manager Onsite Yes
Type of Community Family & Seniors
Total Acres 22.907
Unused Acres 17.368
John Flask REALTOR
216.403.1235 [email protected]
Russell Real Estate Services - Commercial Division able but not guaranteed and should
EXECUTIVE SUMMARY Norwalk, Ohio 44857
Type of Water System Public
Type of Sewer System Private
Individual Meters Yes
Type of Gas Propane
Electric Ampage 100
Roads Asphalt
Pool No
Club House No
Playground No
Basketball Court No
Laundry Room No
