| 2002 | 2003 | 2004 | |
|---|---|---|---|
| Gross Incomehide | |||
| Executive Lots - Interior ( units) | $630,000 | $987,000 | $0 |
| Executive Lots - Golf/Lake ( units) | $99,000 | $396,000 | $66,000 |
| Prestige Lots - Interior ( units) | $148,000 | $666,000 | $148,000 |
| Total Gross Income | $877,000 | $2,049,000 | $214,000 |
| Less: Vacancy & Unit Sale Cost | $52,620 | $122,940 | $12,840 |
| Effective Income | $824,380 | $1,926,060 | $201,160 |
| Less: Expenseshide | |||
| Land | $1,050,000 | $0 | $0 |
| Clearing & Grading | $59,429 | $0 | $0 |
| Paving | $119,663 | $0 | $0 |
| Curb & Gutter | $67,100 | $0 | $0 |
| Sanitary Sewer | $160,554 | $0 | $0 |
| Storm Sewer | $61,950 | $0 | $0 |
| Water | $65,006 | $0 | $0 |
| Entrance | $38,020 | $0 | $0 |
| Power & Street Lighting | $9,402 | $0 | $0 |
| Amenity | $285,150 | $0 | $0 |
| Contingency | $35,000 | $0 | $0 |
| Design | $37,500 | $0 | $0 |
| Layout | $25,552 | $0 | $0 |
| Taxes & Insurance | $11,000 | $1,000 | $0 |
| Legal & Closing | $13,000 | $0 | $0 |
| Appraisal | $5,000 | $0 | $0 |
| Marketing & Advertising | $25,594 | $38,391 | $0 |
| County Fees | $2,000 | $0 | $0 |
| Development Fees | $55,000 | $5,000 | $0 |
| Total Operating Expenses | $2,125,919 | $44,391 | $0 |
| Net Operating Income | ($1,301,539) | $1,881,669 | $201,160 |
| Add: Debt Draw & Repay | $515,021 | ($566,894) | $0 |
| Cash Flow Before Tax | ($786,518) | $1,314,775 | $201,160 |