QUAD CITIES REAL ESTATE WITH RE/MAX

SERVING THE ENTIRE IOWA AND ILLINOIS QUAD CITIES ............................................................

DAVENPORT - BETTENDORF - ROCK ISLAND - MOLINE AND SURROUNDING COMMUNITIES

TOM & CYNDEE BROWNER

CRS, CRB, ABR, GRI, e-PRO, MRA

BROKER OWNER'S RE/MAX BI-STATE

OLD TOWN MALL - 901 E KIMBERLY, DAVENPORT IOWA

LICENSED REAL ESTATE BROKERS - IOWA & ILLINOIS

563-388-0008 OFFICE - 563-388-0083 FAX - 563-570-7629 CELL - 563-343-1092 CELL

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1724 5th Street - ROCK ISLAND

ALL NEW INSIDE AND OUT. New Siding, Windows, Storm Doors, Kitchen, Dish Washer, Bathroom, Carpet and Paint. Roof is 3 years old, furnace 7 years old. 3 Seasons Porch. On the hill, so a good location, close to 18th Avenue and the highway, downtown and the bridge.

INVESTMENT PROPERTY WORKSHEET

This form is designed to assist in estimating the first year benefits of a real estate investment. It does not consider the effect of selling or exchanging the property in the future. It is not a substitute for legal or tax advice. Anyone contemplating the purchase of real estate forinvestment should seek the services of competent legal and tax advisors. This material is designed to provided information about the subject property. Due to a lack of information, some figures (*) are subjective. Therefore, the information is done to the best of my ability toprotect the prospective investor. However, the accuracy of the information is not guaranteed. The presenter of this information is not engaged in offering legal or accounting services; and recommends that competent professional assistance be sought if needed.

SUBJECT PROPERTY: 1724 5th. STREET – ROCK ISLAND $47,900

OFFER PRICE $47,000 GENERAL DESCRIPTION Single Family Home DOWN PAYMENT $ 4,700 10% DOWN ON OFFER - Expected Rent $575 FINANCING $42,300 INT. RATE 6.5%/30YR. P&I $267.36/MO -YR $ 3,208.38 FINANCING INT. RATE /30 YR P&I $ /MO - YR

LAND VALUE $ 4,000 CAN NOT BE DEPRECIATED DEPRECIATION BUILDING VALUE $43,000 RATE .03485 $ 1,498.55 PERSONAL PROPERTY VALUE 3 YEAR 5 YEAR TOTAL $

ANNUAL RENT $ 6,900 LESS 5% VACANCY = GOI $ 6,555.00

ANNUAL OPERATING EXPENSES

REAL ESTATE TAXES $ 802.48 *INSURANCE $ 450 *REPAIRS $ 500.00 *UTILITIES $ GARBAGE $ *ADVERTISING $ 130 *MANAGEMENT FEES $ *MISCELLANEOUS $ 300 TOTAL OPERATING EXPENSES $ 2,182.48

1) GROSS OPERATING INCOME $ 6,555.00

MINUS: OPERATING EXPENSES - $ 2,182.48

EQUALS: NET OPERATING INCOME = $ 4,372.52

MINUS: ANNUAL DEBT SERVICE - $ 3,208.38

EQUALS: CASH FLOW BEFORE TAX $ 1,164.14

2) PRINCIPLE REDUCTION FOR YEAR $ 472.80

3) NET OPERATING INCOME $ 4,372.52

MINUS: INTEREST - $ 2,735.58

MINUS: DEPRECIATION - $ 1,498.55

TAXABLE INCOME X TAX BRACKET .28% $ 138.39

EQUALS TAX (PAID) OR SAVED $( 38.75)

4) APPRECIATION PURCHSE PRICE X 2% $ 940.00

RETURN: WITH APPRECIATION .54% WITHOUT APPRECIATION .34%

47,000 offer with 1500 closing cost and/or pre-paids For each $25/mo addition to rent, return after tax increases .046% or $650 a month would be a 47.8% return before appreciation.

REAL ESTATE MAIN MENU TO TOUR HOME