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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
#1 Real Estate Company in the Gulf South for a REASON.... 2
Purchase AnalysisLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
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
#1 Real Estate Company in the Gulf South for a REASON.... 3
Buy and Hold ProjectionLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
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%
#1 Real Estate Company in the Gulf South for a REASON.... 4
GraphsLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
30
$35,000
$5,000$10,000$15,000$20,000$25,000$30,000
$02520151050
Year
Monthly Cash Flow
30
$4,000,000
$1,000,000
$5,000,000
$2,000,000
$3,000,000
$02520151050
Year
Loan Balance + Equity = Market Value
30
10%
15%
5%
-5%
20%
0%2520151050
Year
Internal Rate of Return (IRR)
#1 Real Estate Company in the Gulf South for a REASON.... 5
Rent RollLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
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
#1 Real Estate Company in the Gulf South for a REASON.... 6
Rent RollLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
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
#1 Real Estate Company in the Gulf South for a REASON.... 7
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 8
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 9
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 10
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 11
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 12
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 13
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 14
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 15
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 16
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 17
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 18
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 19
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 20
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 21
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 22
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 23
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 24
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 25
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 26
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 27
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 28
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 29
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 30
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 31
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 32
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 33
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 34
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 35
PhotosLafayette Single Family Portfolio Latter & Blum Classic Homes & Properties, Inc.
(985) 542-7601matt@latterblumcommercial.comwww.LatterBlumCommercial.com
#1 Real Estate Company in the Gulf South for a REASON.... 36