Michael Collins

602-308-4881

michael@moveupaz.com

Completely Remodeled

Almeria One Brochure

1717 E. Almeria Rd

Phx, AZ 85006

Prepared for

Prospective Buyer

Four large 2 bed, 1 ba unitsTwo units with private patios

Presented by

DeLex Realty

Large common area with BBQ & tablesOwner Agent

Gross Scheduled Income 40,800$ Purchase/Asking Price 450,000$ Property Type ApartmentsTotal Vacancy and Credits (816)$ Improvements - No. of Units 4Operating Expenses (8,640)$ Other - Price Per Unit 112,500$ Annual Reserves: $ Closing Costs - Total Sq Ft 2,800 Net Operating Income (NOI) 31,344$ Finance Points - Price Per Sq Ft 160.71$

Income per Unit 10,200$ MIP Payments $ Total Acquisition Cost 450,000$ Expenses per Unit (2,160)$ Annual Reserves: $ Debt Service: $

Mortgage (s) -$ Cash Flow Before Taxes 31,344$

- Down Payment / Investment 450,000$

Cash Flow After Taxes 31,344$

% of Asking % of CostRental Growth Rate: 2.00% Down Payment: 450,000$ 100.00% 100.00%Expense Growth Rate: 1.00% Initial Loan Balance: $ 0.00% 0.00%Capitalization Rate (Resale): 6.50%Marginal Tax Rate: 0.00% Loan Amount Interest Rate Term PaymentCapital Gain Tax Rate: 0.00% $ 0.00% 20 $0

$ 4.50% 20 $0$ 4.50% 20 $0

Year 1 Year 3 Year 7

Debt Coverage Ratio (DCR) - - - Loan-to-Value Ratio (LVR) 0.0% 0.0% 0.0%

Capitalization Rate Based on Cost 6.97% 7.29% 7.97%Capitalization Rate Based on Resale Price 6.50% 6.50% 6.50%

Gross Rent Multiplier 11.03 11.88 12.01

13.50% (23,016) (50,803) (91,782) 10.00% (9,430) (14,157) (21,898)

Cash on Cash Return - Before Taxes 6.97% 7.29% 7.97%Cash on Cash Return - After Taxes 6.97% 7.29% 7.97%

Internal Rate of Return - Before Taxes 8.76% 9.05%Internal Rate of Return - After Taxes 8.76% 9.05%

8.22% 7.64%8.22% 7.64%

The information, calculations and data presented in this report are believed to be accurate but are not guaranteed. The information contained in this report shall not be considered as a substitution for legal, accounting or other professional advice. Please seek proper legal and tax advice as appropriate before making investments.

Modified Internal Rate of Return - Before TaxesModified Internal Rate of Return - After Taxes

Net Present Value (NPV) - B/ TaxesNet Present Value (NPV) - A/Taxes

Disclaimer: All information presented is believed to be accurate.

Michael CollinsDeLex Realty602-308-4881

Property Overview

Almeria One Brochure

1717 E. Almeria RdPhx, AZ 85006

Income, Expenses & Cash Flow

Loan InformationAssumptions

Income Taxes: Benefit (Expense) @ 0%

Financial Measurements Projected Cash Flow Before Taxes

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$30,000

$35,000

1 2 3 4 5 6 7

© 1993 - 2017 Cash Flow AnalyzerŒ RentalSoftware.com

Almeria One Brochure

1717 E. Almeria RdPhx, AZ 85006

Year 1 Sq Ft Year 2 Sq Ft Year 3 Sq Ft Year 4 Sq Ft Year 5 Sq Ft

Potential Rental Income 40,800$ 14.57 41,616$ 14.86 42,448$ 15.16 43,297$ 15.46 44,163$ 15.77Less: Vacancy & Credit Losses (816) -0.29 (832) -0.30 (849) -0.30 (866) -0.31 (883) -0.32

39,984$ 14.28 40,784$ 14.57 41,599$ 14.86 42,431$ 15.15 43,280$ 15.46

39,984$ 14.28 40,784$ 14.57 41,599$ 14.86 42,431$ 15.15 43,280$ 15.46

Insurance 770 0.28 778 0.28 785 0.28 793 0.28 801 0.29Maintenance 384 0.14 388 0.14 392 0.14 396 0.14 400 0.14Professional Fees 1,302 0.47 1,315 0.47 1,328 0.47 1,341 0.48 1,355 0.48Repairs 384 0.14 388 0.14 392 0.14 396 0.14 400 0.14Property Taxes 1,200 0.43 1,212 0.43 1,224 0.44 1,236 0.44 1,249 0.45Water/Gas/Internet 3,600 1.29 3,636 1.30 3,672 1.31 3,709 1.32 3,746 1.34Miscellaneous 1,000 0.36 1,010 0.36 1,020 0.36 1,030 0.37 1,041 0.37

8,640$ 3.09 8,726$ 3.12 8,814$ 3.15 8,902$ 3.18 8,991$ 3.21

31,344$ 11.19 32,057$ 11.45 32,786$ 11.71 33,530$ 11.97 34,289$ 12.25

Cash Flow Before Taxes 31,344$ 11.19 32,057$ 11.45 32,786$ 11.71 33,530$ 11.97 34,289$ 12.25

Gross Operating Income

Michael Collins

Net Operating Income (NOI)

Total Operating Expenses

Operating Expenses

Effective Rental Income

602-308-4881

© 1993 - 2017 Cash Flow AnalyzerŒ RentalSoftware.com

Almeria One Brochure

Michael Collins

602-308-4881

Time Net Operating Debt Cash Flow Incomes Cash FlowPeriod Income Service Before Tax Taxes After Tax

Int Investment (450,000)$ (450,000)$ Year 1 31,344 - - 31,344 - 31,344 Year 2 32,057 - - 32,057 - 32,057 Year 3 32,786 - - 32,786 - 32,786 Year 4 33,530 - - 33,530 - 33,530 Year 5 34,289 - - 34,289 - 34,289

1717 E. Almeria Rd

Phx, AZ 85006

Reserves & MIP Payments

$29,500

$30,000

$30,500

$31,000

$31,500

$32,000

$32,500

$33,000

$33,500

$34,000

$34,500

1 2 3 4 5

Cash Flow After Taxes

Cash Flow Before Taxes