lafayette single family portfolio matthew j. galofaro ......lafayette single family portfolio latter...

Property Report

Lafayette Single Family Portfolio

Presented by:

Matthew J. Galofaro, CCIM Latter & Blum Classic Homes & Properties, Inc.

14454 University Ave. Hammond, Louisiana 70401

Office: (985) 542-7601Mobile: (985) 969-8473

Fax: (985) 542-7760matt@latterblumcommercial.comwww.LatterBlumCommercial.com

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

#1 Real Estate Company in the Gulf South for a REASON.... 1

OverviewLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.

(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com

Purchase InfoTotal Number of Units 35Purchase Price $2,100,000Initial Cash Invested $567,000

Income Analysis Monthly AnnualNet Operating Income $15,253 $183,038Cash Flow $4,195 $50,344

Financial MetricsCap Rate (Purchase Price) 8.7%Cash on Cash Return (Year 1) 8.9%Internal Rate of Return (Year 10) 19.4%Sale Price (Year 10) $2,822,224


Purchase AnalysisLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.


Purchase InfoPurchase Price $2,100,000- First Mortgage -$1,575,000- Second Mortgage -$0= Downpayment $525,000+ Buying Costs $42,000+ Initial Improvements $0= Initial Cash Invested $567,000Total Number of Units 35Cost per Unit $60,000Average Monthly Rent per Unit $677

Mortgages First SecondLoan-To-Cost Ratio 75% 0%Loan-To-Value Ratio 75% 0%Loan Amount $1,575,000 $0Loan Type AmortizingTerm 20 YearsInterest Rate 5.75%Payment $11,057.82 $0.00

Financial Metrics (Year 1)Annual Gross Rent Multiplier 7.4Operating Expense Ratio 30.0%Debt Coverage Ratio 1.38Cap Rate (Purchase Price) 8.7%Cash on Cash Return 8.9%

AssumptionsAppreciation Rate 3.0%Vacancy Rate 8.0%Income Inflation Rate 3.0%Expense Inflation Rate 3.0%LTV for Refinance 70.0%Selling Costs $147,000

Income Monthly AnnualGross Rent $23,685 $284,220Vacancy Loss -$1,895 -$22,738Operating Income $21,790 $261,482

Expenses (% of Income) Monthly AnnualOperating Expenses (30%) -$6,537 -$78,445Operating Expenses (30%) -$6,537 -$78,445

Net Performance Monthly AnnualNet Operating Income $15,253 $183,038- Mortgage Payments -$11,058 -$132,694- Year 1 Improvements -$0 -$0= Cash Flow $4,195 $50,344


Buy and Hold ProjectionLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.


Income Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30Gross Rent $284,220 $292,747 $301,529 $319,892 $370,843 $498,381 $669,783Vacancy Loss -$22,738 -$23,420 -$24,122 -$25,591 -$29,667 -$39,871 -$53,583Operating Income $261,482 $269,327 $277,407 $294,301 $341,175 $458,511 $616,200

Expenses Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30Operating Expenses -$78,445 -$80,798 -$83,222 -$88,290 -$102,353 -$137,553 -$184,860Operating Expenses -$78,445 -$80,798 -$83,222 -$88,290 -$102,353 -$137,553 -$184,860

Income Analysis Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30Net Operating Income $183,038 $188,529 $194,185 $206,011 $238,823 $320,958 $431,340- Mortgage Payments -$132,694 -$132,694 -$132,694 -$132,694 -$132,694 -$132,692 -$0- Improvements -$0 -$0 -$0 -$0 -$0 -$0 -$0= Cash Flow $50,344 $55,835 $61,491 $73,317 $106,129 $188,266 $431,340Cap Rate (Purchase Price) 8.7% 9.0% 9.2% 9.8% 11.4% 15.3% 20.5%Cap Rate (Market Value) 8.5% 8.5% 8.5% 8.5% 8.5% 8.5% 8.5%Cash on Cash Return 8.9% 9.8% 10.8% 12.9% 18.7% 33.2% 76.1%Return on Equity 8.0% 7.5% 7.2% 6.6% 5.8% 5.0% 8.5%

Loan Analysis Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30Market Value $2,163,000 $2,227,890 $2,294,727 $2,434,476 $2,822,224 $3,792,834 $5,097,251- Loan Balance -$1,531,740 -$1,485,927 -$1,437,408 -$1,331,609 -$1,007,369 -$0 -$0= Equity $631,260 $741,963 $857,318 $1,102,867 $1,814,856 $3,792,834 $5,097,251Loan-to-Value Ratio 70.8% 66.7% 62.6% 54.7% 35.7% 0.0% 0.0%Potential Cash-Out Refi -$17,640 $73,596 $168,900 $372,524 $968,188 $2,654,984 $3,568,076

Sale Analysis Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30Equity $631,260 $741,963 $857,318 $1,102,867 $1,814,856 $3,792,834 $5,097,251- Selling Costs -$151,410 -$155,952 -$160,631 -$170,413 -$197,556 -$265,498 -$356,808= Proceeds After Sale $479,850 $586,011 $696,688 $932,454 $1,617,300 $3,527,335 $4,740,444+ Cumulative Cash Flow $50,344 $106,179 $167,670 $308,303 $771,383 $2,264,416 $6,054,219- Initial Cash Invested -$567,000 -$567,000 -$567,000 -$567,000 -$567,000 -$567,000 -$567,000= Net Profit -$36,807 $125,190 $297,357 $673,756 $1,821,684 $5,224,752 $10,227,663Internal Rate of Return -6.5% 10.9% 16.3% 19.3% 19.4% 17.8% 17.1%Return on Investment -6% 22% 52% 119% 321% 921% 1,804%


GraphsLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.


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Rent RollLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.


Unit Description Square Feet Units of This Type Rent (Per Unit)101 Narcisse 0 1 $700 Per Month

102 Gilbert 0 1 $600 Per Month

109 Jomar 0 1 $1,195 Per Month

111 Lucy 0 1 $800 Per Month

112 Griggs 0 1 $700 Per Month

113 Sonny 0 1 $675 Per Month

115 Griggs 0 1 $750 Per Month

116 Harmony 0 1 $625 Per Month

117 Griggs - Empty Lot 0 1 $0 Per Month

120 Harmony 0 1 $575 Per Month

125 Carlton 0 1 $800 Per Month

138 Arizona 0 1 $680 Per Month

203 Lacobie 0 1 $675 Per Month

203 Odile 0 1 $685 Per Month

209 Maclyn 0 1 $675 Per Month

209 Olile 0 1 $650 Per Month

302 Zilia 0 1 $800 Per Month

303 Duhon 0 1 $825 Per Month

310 Anne 0 1 $600 Per Month

311 Anne 0 1 $700 Per Month

315 Morse 0 1 $650 Per Month

322 Sonny 0 1 $650 Per Month

418 Joan 0 1 $725 Per Month

423 Sampson 0 1 $875 Per Month

432 Sampson 0 1 $425 Per Month

600 Elizabeth 0 1 $750 Per Month

614 Orchid 0 1 $650 Per Month

619 Cedar Crese Court 0 1 $800 Per Month

843 E Convent 0 1 $350 Per Month

845 E Convent 0 1 $700 Per Month

1012 S. Magnolia 0 1 $650 Per Month

Continued on the following page


Rent RollLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.


Unit Description Square Feet Units of This Type Rent (Per Unit)1306 Martin Luther King 0 1 $625 Per Month

1331 SE EV THRU 0 1 $655 Per Month

3503 W. Congress 0 1 $675 Per Month

7419 Johnston 0 1 $795 Per Month

Totals for Year 1Total Number of Units 35Total Area (Sum of Units) 0 Square FeetTotal Rent (Sum of Units) $23,685 Per Month, $284,220 Per Year


PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.



lafayette single family portfolio matthew j. galofaro ......lafayette single family portfolio latter...

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