Brazoria County, Angleton, TX 77515

300–308 Rice St, Angleton TX 8-Plex Pro Forma Analysis 1. Income Current Gross Scheduled Income: $90,300 per year Stabilized at $1,250 average rent: $120,000 per year Stabilized at $1,300 average rent: $124,800 per year 2. Vacancy and Credit Loss (5 Percent) Current Effective Gross Income: $85,785 Stabilized at $1,250 average rent Effective Gross Income: $114,000 Stabilized at $1,300 average rent Effective Gross Income: $118,560 3. Operating Expenses (38 Percent of EGI) Current Operating Expenses: $32,598 Stabilized at $1,250 average rent Operating Expenses: $43,320 Stabilized at $1,300 average rent Operating Expenses: $45,053 4. Net Operating Income Current NOI: $53,187 Stabilized at $1,250 average rent NOI: $70,680 Stabilized at $1,300 average rent NOI: $73,507 5. Valuation at 7 Percent Cap Rate Current Value: $759,814 approximately $760,000 Stabilized at $1,250 average rent Value: $1,009,714 approximately $1.01 million Stabilized at $1,300 average rent Value: $1,050,100 approximately $1.05 million 6. Buyer Metrics at $875,000 Ask Price per Unit: $109,375 Price per Square Foot: $91 Cap Rate Current: 6.1 Percent Cap Rate Stabilized at $1,250 average rent: 8.1 Percent Cap Rate Stabilized at $1,300 average rent: 8.4 Percent 7. Buyer Financing Illustration Assumptions Loan to Value 70 Percent Loan Amount $612,500 Interest Rate 7 Percent Amortization 30 years Annual Debt Service $49,000 Cash Flow Current NOI $53,187 Debt Service $49,000 Cash Flow $4,187 per year $349 per month Debt Service Coverage Ratio 1.09 Cash Flow Stabilized at $1,250 average rent NOI $70,680 Debt Service $49,000 Cash Flow $21,680 per year $1,807 per month Debt Service Coverage Ratio 1.44 Cash Flow Stabilized at $1,300 average rent NOI $73,507 Debt Service $49,000 Cash Flow $24,507 per year $2,042 per month Debt Service Coverage Ratio 1.50