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Rental

NSP Rental Housing Project Proforma

Per Unit Analysis

NOTE: It is understood that you may do multi projects with varying number
of units. In this section just one proforma is necessary. Use an estimate based on one project (e.g. duplex, four-plex or larger)

           
           
           

Income

         

Anticipated Unit Rent

$ -

per month

   

Estimated Number of Units per project

0

       

Total Rental Income (TRI)

$ -

per year

     
           

Expenses

         

Annual Operations (33% of TRI)

$ -

(utilities, trash, snow, taxes, insurance, etc.)

           

Net Operating Income (NOI)

$ -

       
           

1st Mortgage Debt Service

 

0

years

0.00%

APR

Remaining NOI

         
           

2nd Mortgage Debt Service

 

0

years

0.00%

APR

Remaining NOI

         

Asset Management Fee
(No More than 5% of NOI)

$ -

0%

of NOI

   

Profit

         
           

Calculated Market Value (Based on Net Operating Income)

   

NOI (Before Debt Service)

$ -

       

Cap Rate
(No More than 10%)

0%

0%

     

Estimated Market Value (EMV)

         
           
           

Sources

         

First Mortgage

 

0%

Loan to Value Ratio

Second Mortgage

 

0%

of remaining EMV

 

Total Sources

         
           

Uses

         

Acquisition

$ -

At least 5% less than Appraised Market Value

Rehab (including contingency)

$ -

       

Soft Costs

$ -

       

Total Uses

$ -

       

Total Development Gap

         

Secured Non-NSP Funds

$ -

       

Remaining Gap - Mpls NSP Funded

         

Per Unit Subsidy

         

Last updated Sep. 27, 2011