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| 2002 | 2003 | 2004 | |
| Gross Income | |||
| Executive Lots - Interior | 220,000 | 945,000 | 462,000 |
| Executive Lots - Golf/Lake | 96,000 | 475,000 | 0 |
| Prestige Lots - Interior | 468,000 | 492,000 | 0 |
| Total Gross Income | $784,000 | $1,912,000 | $462,000 |
| Less: Vacancy & Unit Sale Cost | 47,040 | 114,720 | 27,720 |
| Effective Income | $736,960 | $1,797,280 | $434,280 |
| Less: Operating Expenses | |||
| Land | 1,050,000 | 0 | 0 |
| Clearing & Grading | 59,429 | 0 | 0 |
| Paving | 114,549 | 0 | 0 |
| Curb & Gutter | 64,232 | 0 | 0 |
| Sanitary Sewer | 158,810 | 0 | 0 |
| Storm Sewer | 61,277 | 0 | 0 |
| Water | 63,602 | 0 | 0 |
| Entrance | 36,000 | 0 | 0 |
| Power & Street Lighting | 9,300 | 0 | 0 |
| Amenity | 270,000 | 0 | 0 |
| Contingency | 35,000 | 0 | 0 |
| Design | 37,500 | 0 | 0 |
| Layout | 25,000 | 0 | 0 |
| Taxes & Insurance | 11,000 | 1,000 | 0 |
| Legal & Closing | 13,000 | 0 | 0 |
| Appraisal | 5,000 | 0 | 0 |
| Marketing & Advertising | 24,500 | 36,750 | 0 |
| County Fees | 2,000 | 0 | 0 |
| Development Fees | 55,000 | 5,000 | 0 |
| Total Operating Expenses | $2,095,199 | $42,750 | $0 |
| Net Operating Income | ($1,358,239) | $1,754,530 | $434,280 |
| Add: Debt Draw & Repay | 1,468,783 | (1,484,938) | (216,369) |
| Cash Flow Before Tax | $110,544 | $269,592 | $217,911 |
| Taxable Income and Taxes | |||
| (Losses Taken Currently) | |||
| Taxable Revenues | $736,960 | $1,797,280 | $434,280 |
| Less: Deducted Expenses | 555,017 | 1,285,601 | 297,331 |
| Less: Interest Expense | 113,010 | 114,194 | 5,320 |
| Ordinary Income | $68,933 | $397,485 | $131,629 |
| Taxable Income | 68,933 | 397,485 | 131,629 |
| Taxes Due (- = Savings) | 27,297 | 157,404 | 52,125 |
| Cash Flow After Tax | $83,247 | $112,188 | $165,786 |
The data and calculations presented herein, while not guaranteed,
have been obtained from sources we believe to be reliable.
Produced by planEASe from Analytic Associates (800) 959-3273
The data and calculations presented herein, while not guaranteed,
have been obtained from sources we believe to be reliable.
Produced by planEASe from Analytic Associates (800) 959-3273