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Investment Proforma
78 Units
Loch Lomond Road, Saint John, NB · Delivery 24 Months · Lending Type: Draw
Multi-Family · 78 Units
- Bonding required — additional cost of $100,000 – $300,000; final cost revealed in DD.
Purchase Price
$22,424,689
CAD
Cap Rate
5.7%
Year 1
Cash on Cash
12.5%
Year 1
DSCR
113.7%
At base rate
I
Acquisition Terms & Eligibility
CAD| Purchase Price | $22,424,689.28 |
| Broker & Bank Fee Roll-in | $2,242,468.93 |
| Total Purchase Price | $24,667,158.21 |
| Deposit (5%) | $1,233,357.91 |
| Closing Fee Allowance | $2,242,468.93 |
| Builder Deposit | 5.00% |
| Delivery Timeline | 24 Months |
| Lending Type | Draw |
| Asset Class | Multi-Family (78u) |
| Min. Liquidity | $4,933,431.64 |
| Min. Net Worth | $7,400,147.46 |
| Includes | Landscape · Fence · Blinds · Appl. |
II
Unit Mix & Rent Roll
Annual| Unit Type | Units | Unit Price | Monthly | Annual |
|---|---|---|---|---|
| 2 Bed / 1 Bath767 – 780 sqft | 6 | $1,845.00 | $11,070.00 | $132,840.00 |
| 2 Bed / 2 Bath896 – 1,060 sqft | 42 | $2,091.07 | $87,824.94 | $1,053,899.28 |
| 3 Bed / 2 Bath1,113 – 1,293 sqft | 18 | $2,318.06 | $41,725.08 | $500,700.96 |
| Affordable UnitsNB program | 12 | $1,200.00 | $14,400.00 | $172,800.00 |
| Garage + Storage Locker100% usage | 31 | $200.00 | $6,200.00 | $74,400.00 |
| Gross Scheduled Income | 78 | — | $161,220.02 | $1,934,640.00 |
III
Operating Expenses
Annual| Property Taxes | $327,600 |
| Insurance | $24,960 |
| Utilities | $54,600 |
| Repairs & Maint. | $47,580 |
| Management & Salaries | $113,338 |
| Other Cost | $37,205 |
| Replacement Reserve | $23,400 |
| Vacancy & Bad Debt (2%) | $37,205 |
| NB Afford. Vacancy Adj. | ($3,456) |
| Total Operating Expense | $628,683 |
IV
Net Operating Income
Year 1| Rental Income | $1,860,240 |
| Other Income (Parking) | $74,400 |
| Gross Income | $1,934,640 |
| (−) Vacancy & Bad Debt | ($37,205) |
| NB Afford. Vacancy Adjust | $3,456 |
| Effective Gross Income | $1,900,891 |
| (−) Operating Expense | ($628,683) |
| Net Operating Income | $1,272,208 |
V
Debt Service
Draw · 50 yr Amortization| Tranche | Amount | Interest | Amort. | Monthly | Annual |
|---|---|---|---|---|---|
| Mortgage | $23,433,800.29 | 3.90% | 50 yr | $89,426.13 | $1,073,113.51 |
| CMHC Premium 5.9% | $1,382,594.22 | 3.90% | 50 yr | $5,276.14 | $63,313.70 |
| NB Loan Forgiveness Prog. | ($900,000.00) | 3.90% | 50 yr | ($1,500.00) | ($18,000.00) |
| Total Loan Size | $23,916,394.51 | 3.94% | 50 yr | $93,202.27 | $1,118,427.21 |
Cash Flow After Debt
$153,781
DSCR
113.7%
Cash on Cash
12.5%
VI
Five-Year Projections
Down Payment $1,233,358 · Original Price $22,424,689| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |
|---|---|---|---|---|---|
| Building Value | $24,667,158 | $25,900,516 | $27,195,542 | $28,555,319 | $29,983,085 |
| Appreciation % | 10.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Appreciation $ | $2,242,469 | $1,233,358 | $1,295,026 | $1,359,777 | $1,427,766 |
| Total Cash Flow | $153,781 | $161,470 | $169,544 | $178,021 | $186,922 |
| Mortgage Paydown | $153,027 | $159,163 | $165,546 | $172,184 | $179,088 |
| Equity Per Year | $2,395,496 | $1,553,991 | $1,630,115 | $1,709,982 | $1,793,776 |
| Return on Down Payment | 194.2% | 126.0% | 132.2% | 138.6% | 145.4% |
Total Equity Gained
$9,083,360
Annualized 5-Yr ROI
147.29%
IRR · No Sale / Sale
−2.22% / 56%
VII
Rate Sensitivity
Δ Cash Flow · DSCR| Δ | Rate | Monthly | Cash Flow | DSCR |
|---|---|---|---|---|
| −0.50% | 3.40% | $86,529.69 | $233,852.12 | 122.5% |
| −0.25% | 3.65% | $90,573.43 | $185,327.28 | 117.1% |
| Base | 3.90% | $94,702.27 | $135,781.19 | 111.9% |
| +0.25% | 4.15% | $98,912.93 | $85,253.23 | 107.2% |
| +0.50% | 4.40% | $103,202.08 | $33,783.46 | 102.7% |
VIII
Rent Sensitivity
Δ Net Rent · NOI| Δ | Net Rent | NOI | Cash Flow | DSCR |
|---|---|---|---|---|
| Base | $1,934,640 | $1,305,957 | $169,530 | 114.9% |
| −5% | $1,837,908 | $1,209,225 | $72,798 | 106.4% |
| −10% | $1,741,176 | $1,112,493 | ($23,934) | 97.9% |
| −15% | $1,644,444 | $1,015,761 | ($120,666) | 89.4% |