Acquisition
Price	$0
-Loans	$0
Down Payment	$0
+Acq Costs	$0
+Loan Points	$0
Investment	$0
Total Units	100
**APOD Projected is the (Jan 03 - Dec 03) cash flow (first 12 months).

Ratios
Capitalization Rate	-∞%
This APOD Capitalization Rate has been calculated by using the First 12 Months NOI -13891 (shown below). Divide by Purchase Price $0 and convert to a percentage equaling -∞%. close
Gross Income Multiplier	0.00
This APOD Gross Income Multiplier has been calculated by using the Purchase Price $0 divided by First 12 Months Gross Income 30623 (shown below). The result equals 0.00. close
Cash on Cash	-∞%
This APOD Cash on Cash has been calculated by using the First 12 Months Net Operating Cash Flow -307810 (shown below). Divide by (Downpayment $0 + Acq Costs $0 + Loan Points $0) and convert to a percentage equaling -∞%. close
Debt Coverage Ratio	-0.047
This APOD Debt Coverage Ratio has been calculated by using the First 12 Months NOI -13891 (shown below). Divide by First 12 Months Total Debt Service 293919 equlaing the ratio of -0.047 close
Price/Unit	$0
This Price/Unit has been calculated by using the Purchase Price $0 divided by Total Units 100 which equals $0. close
Loans to Value	NaN%
This APOD Loans to Value has been calculated by using the loans $0 divided by Purchase Price $0 and convert to a percentage equaling NaN%. close
Loans Constant	∞%
This APOD Loans Constant has been calculated by using the Total Debt Service 293919 divided by loans $0 and convert to a percentage equaling ∞%. close
Loans/Unit	$0
This APOD Loans/Unit has been calculated by using the Loans $0 divided by Total Units 100 which equals $0. close

	$/Unit	% of GI	Annual $
Gross Incomehide
Studio	$35.82	11.7%	$3,582
One Bedroom	$73.05	23.9%	$7,305
2 Bedroom 1 Bath	$115.88	37.8%	$11,588
2 Bedroom 2 Bath	$80.33	26.2%	$8,033
Laundry	$1.26	0.4%	$126

Total Gross Income	$306.33	100.0%	$30,633
Less: Vacancy & Credit Loss	$16.30	5.3%	$1,630
Effective Income	$290.14	94.7%	$29,014
Less: Expenseshide
Management	$14.59	4.8%	$1,459
Utilities	$8.70	2.8%	$870
Property Tax	$352.80	115.2%	$35,280
Gardner	$9.96	3.3%	$996
Insurance	$30.00	9.8%	$3,000
Pool	$9.96	3.3%	$996
Reserve	$2.90	0.9%	$290

Total Operating Expenses	$429.05	140.1%	$42,905
Net Operating Income	($138.81)	-45.3%	($13,881)
Less: Debt Servicehide
Construction Draw	$2,939.29	959.8%	$293,929
Permanent	$0.00	0.0%	$0
Total Debt Service	$2,939.29	959.8%	$293,929
Net Operating Cash Flow	($3,078.00)	-1005.1%	($307,800)