102-sp sportsman's cove mhp/rv - loopnet · 2018-07-19 · 102-sp sportsman's cove mhp/rv...

Benny Spensieri

813-391-1545

[email protected]

102-Space 55+ Community - 45-MH & 57 RV

102-Sp Sportsman's Cove MHP/RV

5423 Avenue F

McIntosh, FL 32664

Waterfront Canal leads to Orange Lake - Includes Docks & 31-Slips

Presented by

CRES Corp International, LLC1228 E 7th Ave

Current Occupancy 60% - Significant Upside

Asking only $2.1M OBO (POF's must accompany all offers)

8 Park Models - 5 MH's - 3 RV's Owned by Park - City Water/WWTP

Tampa, Fl 33605

Potential Rental Income 323,709$ Purchase/Asking Price 2,100,000$ Property Type Mobile Home Parks

Other Income - Improvements - No. of Units 102

Total Vacancy and Credits (16,185) Other - Price Per Unit 20,588$

Operating Expenses (133,638)$ Closing Costs - Total Sq Ft 1,000

Annual Reserves: $ Finance Points - Price Per Sq Ft 2,100$

Net Operating Income (NOI) 173,886$ Income per Unit 3,174$

MIP Payments $ Total Acquisition Cost 2,100,000$ Expenses per Unit (1,310)$

Annual Reserves: $ Debt Service: $

Mortgage (s) $

Cash Flow Before Taxes 173,886$

- Down Payment / Investment 2,100,000$

Cash Flow After Taxes 173,886$

% of Asking % of Cost

Rental Growth Rate: 20.00% Down Payment: 2,100,000$ 100.00% 100.00%

Expense Growth Rate: 3.00% Initial Loan Balance: $ 0.00% 0.00%

Appreciation Rate 0.00%

Marginal Tax Rate: 0.00% Loan Amount Interest Rate Term Payment

Capital Gain Tax Rate: 0.00% $ 8.00% 30 $0

$ 8.00% 30 $0

$ 8.00% 30 $0

Year 1 Year 3 Year 7

Debt Coverage Ratio (DCR) - - -

Loan-to-Value Ratio (LVR) 0.0% 0.0% 0.0%

Capitalization Rate Based on Cost 8.28% 13.06% 15.69%

Capitalization Rate Based on Resale Price 7.89% 11.29% 12.53%

Gross Rent Multiplier 6.49 5.44 4.99

13.50% (62,347) 29,796 113,924

10.00% 2,487 223,444 525,116

Cash on Cash Return - Before Taxes 8.28% 13.06% 15.69%

Cash on Cash Return - After Taxes 8.28% 13.06% 15.69%

Internal Rate of Return - Before Taxes 14.08% 14.63%

Internal Rate of Return - After Taxes 14.08% 14.63%

13.04% 11.55%

13.04% 11.55%

The information, calculations and data presented in this report are believed to be accurate but are not guaranteed. The information contained in this report shall not be considered as

a substitution for legal, accounting or other professional advice. Please seek proper legal and tax advice as appropriate before making investments.

Modified Internal Rate of Return - Before Taxes

Modified Internal Rate of Return - After Taxes

Net Present Value (NPV) - B/ Taxes

Net Present Value (NPV) - A/Taxes

Disclaimer: All information presented is believed to be accurate.

Benny Spensieri

CRES Corp International, LLC

813-391-1545

Property Overview


5423 Avenue F

McIntosh, FL 32664

Income, Expenses & Cash Flow

Income Taxes: Benefit (Expense) @ 0%

Financial Measurements Notes / Discussion

Loan InformationAssumptions

Benny Spensieri

813-391-1545

[email protected]

0

1228 E 7th Ave


Tampa, Fl 33605

Property Description

Dock and Slips

55+ Community

102-Spaces (45-MH - 57-RV)

Waterfront Canal to Orange Lake

City Water/WWTP

Currently 60% Occupied

102-Sp Sportsman's Cove

MHP/RV5423 Avenue F

McIntosh, FL 32664

HIGHLIGHTS

Sportsman’s Cove 55+MHP/RV Resort

Note: This property is one of 2 MHP's that are available for sale

by the same owner. Contact Benny Spensieri for further

information on these properties - 813-391-1545 or

[email protected].

This park consists of 102-spaces that includes both MHP and RV

spaces. The Seller of the property does not have the time to

continue running the park and is selling it at only $19K-$20Kper

space to a qualified purchaser!

Property includes:

Waterfront ( access to Orange Lake)

31-Boat Slips

11-acres

102-spaces (45-MH’s and 57-RV)

9-Park Models

5-Mobile Homes

3-RV’s

City Water/WWTP

Updated Electrical

60% Occupied

Current GR: $307,524(Annualized 2018)

Current NOI:$173,000- $221,202 (Annualized 2018

Asking Price: $2,100,000 OBO

POF's must accompany all offers!


Park Model

Park Model

RV

Park Model Dock/Slips


5423 Avenue F

McIntosh, FL 32664

Potential Rental Income 323,709$ 388,451$ 446,718$ 491,390$ 506,132$

Less: Vacancy & Credit Losses (16,185) (19,423) (22,336) (24,570) (25,307)

Effective Gross Income 307,524$ 369,028$ 424,382$ 466,821$ 480,825$

Less: Operating Expenses (133,638) (142,049) (150,040) (157,043) (161,754)

Net Operating Income (NOI) 173,886$ 226,979$ 274,343$ 309,778$ 319,071$

Less: Annual Debt Service - - - - -

CASH FLOW Before Taxes 173,886$ 226,979$ 274,343$ 309,778$ 319,071$

Projected Sales Price 2,205,000$ 2,315,250$ 2,431,013$ 2,552,563$ 2,578,089$

Less: Selling Expenses (66,150) (69,458) (72,930) (76,577) (77,343)

Adjusted Projected Sales Price 2,138,850$ 2,245,793$ 2,358,082$ 2,475,986$ 2,500,746$

Less: Mortgage(s) Balance Payoff - - - - -

SALE PROCEEDS Before Taxes 2,138,850$ 2,245,793$ 2,358,082$ 2,475,986$ 2,500,746$

Cash Generated in Current Year 173,886$ 226,979$ 274,343$ 309,778$ 319,071$

Cash Generated in Previous Years n/a 173,886 400,865 675,207 984,985

Cash Generated from Property Sale 2,138,850 2,245,793 2,358,082 2,475,986 2,500,746

Original Initial Investment (2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000)

212,736$ 546,657$ 933,290$ 1,360,972$ 1,704,803$

Capitalization Rate Based on Cost 8.28% 10.81% 13.06% 14.75% 15.19%

Capitalization Rate Based on Resale Price 7.89% 9.80% 11.29% 12.14% 12.38%

Break-Even Ratio 41.28% 36.57% 33.59% 31.96% 31.96%

Operating Expense Ratio 43.46% 38.49% 35.35% 33.64% 33.64%

Cash-on-Cash Return with Equity 10.13% 15.61% 17.22% 18.14% 13.89%

Cash-on-Cash Return - Before Taxes 8.28% 10.81% 13.06% 14.75% 15.19%

Benny Spensieri

813-391-1545

Financial Measurements

Year 4 Year 5

Cash Position

Rental Activity Analysis

Total Potential CASH Generated

Property Resale Analysis

Year 1 Year 2 Year 3

7/17/2018 11:30 AM © 1993 - 2014 Cash Flow Analyzer® http://RentalSoftware.com


5423 Avenue F

McIntosh, FL 32664

Potential Rental Income

Less: Vacancy & Credit Losses

Effective Gross Income

Less: Operating Expenses

Net Operating Income (NOI)

Less: Annual Debt Service

CASH FLOW Before Taxes

Projected Sales Price

Less: Selling Expenses

Adjusted Projected Sales Price

Less: Mortgage(s) Balance Payoff

SALE PROCEEDS Before Taxes

Cash Generated in Current Year

Cash Generated in Previous Years

Cash Generated from Property Sale

Original Initial Investment

Capitalization Rate Based on Cost

Capitalization Rate Based on Resale Price

Break-Even Ratio

Operating Expense Ratio

Cash-on-Cash Return with Equity

Cash-on-Cash Return - Before Taxes

Financial Measurements

Cash Position

Rental Activity Analysis

Total Potential CASH Generated

Property Resale Analysis

521,316$ 526,529$ 531,794$ 537,112$ 542,483$

(26,066) (26,326) (26,590) (26,856) (27,124)

495,250$ 500,203$ 505,205$ 510,257$ 515,359$

(166,607) (170,771) (175,051) (179,452) (183,976)

328,644$ 329,432$ 330,153$ 330,805$ 331,383$

- - - - -

328,644$ 329,432$ 330,153$ 330,805$ 331,383$

2,603,870$ 2,629,908$ 2,656,207$ 2,682,769$ 2,709,597$

(78,116) (78,897) (79,686) (80,483) (81,288)

2,525,754$ 2,551,011$ 2,576,521$ 2,602,286$ 2,628,309$

- - - - -

2,525,754$ 2,551,011$ 2,576,521$ 2,602,286$ 2,628,309$

328,644$ 329,432$ 330,153$ 330,805$ 331,383$

1,304,057 1,632,700 1,962,132 2,292,285 2,623,090

2,525,754 2,551,011 2,576,521 2,602,286 2,628,309

(2,100,000) (2,100,000) (2,100,000) (2,100,000) (2,100,000)

2,058,454$ 2,413,143$ 2,768,807$ 3,125,377$ 3,482,782$

15.65% 15.69% 15.72% 15.75% 15.78%

12.62% 12.53% 12.43% 12.33% 12.23%

31.96% 32.43% 32.92% 33.41% 33.91%

33.64% 34.14% 34.65% 35.17% 35.70%

14.14% 14.04% 13.94% 13.84% 13.73%

15.65% 15.69% 15.72% 15.75% 15.78%

Benny Spensieri

813-391-1545

Year 9Year 6 Year 7 Year 10Year 8

7/17/2018 11:30 AM © 1993 - 2014 Cash Flow Analyzer® http://RentalSoftware.com


5423 Avenue F

McIntosh, FL 32664

% of % of

Expenses Revenue

4,176 3.0% 40.94 4.18 3.1% 1.4%

2,929 3.0% 28.72 2.93 2.2% 1.0%

2,030 3.0% 19.90 2.03 1.5% 0.7%

4,800 3.0% 47.06 4.80 3.6% 1.6%

5,000 3.0% 49.02 5.00 3.7% 1.6%

25,897 253.89 25.90 19.4% 8.4%

1,000 3.0% 9.80 1.00 0.7% 0.3%

5,000 3.0% 49.02 5.00 3.7% 1.6%

2,000 3.0% 19.61 2.00 1.5% 0.7%

19,308 3.0% 189.29 19.31 14.4% 6.3%

14,400 3.0% 141.18 14.40 10.8% 4.7%

16,800 3.0% 164.71 16.80 12.6% 5.5%

2,220 3.0% 21.76 2.22 1.7% 0.7%

10,200 3.0% 100.00 10.20 7.6% 3.3%

6,600 3.0% 64.71 6.60 4.9% 2.1%

1,278 3.0% 12.53 1.28 1.0% 0.4%

10,000 3.0% 98.04 10.00 7.5% 3.3%

133,638$ 1,310$ 1,000 100.0% 43.5%Total Annual Operating Expenses

Repairs

Trash Removal

Septic Pump/WWTP

Credit Card Fees

Miscellaneous

Electricity

Supplies

Water

Property Taxes

Management Fee

Telephone/WIFI

Professional Fees

Annual

Increase

Auto & Travel

Insurance

Per UnitExpense Description

Maintenance

Landscaping

Benny Spensieri

813-391-1545

Per Sq Ft

Advertising

Annual

Amount

Annual Property Operating Data102-Sp Sportsman's Cove MHP/RV

5423 Avenue F

McIntosh, FL 32664 Benny Spensieri

Column 1 813-391-1545

Column 2

Year 1 Sq Ft Per Unit Year 2 Sq Ft Per Unit Year 3 Sq Ft Per Unit Year 4 Sq Ft Per Unit Year 5 Sq Ft Per Unit

Potential Rental Income 323,709$ 26.98 264.47 388,451$ 32.37 317.36 446,718$ 37.23 364.97 491,390$ 40.95 401.46 506,132$ 42.18 413.51

Less: Vacancy & Credit Losses (16,185) -1.35 -13.22 (19,423) -1.62 -15.87 (22,336) -1.86 -18.25 (24,570) -2.05 -20.07 (25,307) -2.11 -20.68

307,524$ 25.63 251.24 369,028$ 30.75 301.49 424,382$ 35.37 346.72 466,821$ 38.90 381.39 480,825$ 40.07 392.83

Advertising 4,176 0.35 3.41 4,301 0.36 3.51 4,430 0.37 3.62 4,563 0.38 3.73 4,700 0.39 3.84

Auto & Travel 2,929 0.24 2.39 3,017 0.25 2.46 3,107 0.26 2.54 3,201 0.27 2.61 3,297 0.27 2.69

Insurance 2,030 0.17 1.66 2,091 0.17 1.71 2,154 0.18 1.76 2,218 0.18 1.81 2,285 0.19 1.87

Landscaping 4,800 0.40 3.92 4,944 0.41 4.04 5,092 0.42 4.16 5,245 0.44 4.29 5,402 0.45 4.41

Maintenance 5,000 0.42 4.08 5,150 0.43 4.21 5,305 0.44 4.33 5,464 0.46 4.46 5,628 0.47 4.60

Management Fee 25,897 2.16 21.16 31,076 2.59 25.39 35,737 2.98 29.20 39,311 3.28 32.12 40,491 3.37 33.08

Professional Fees 1,000 0.08 0.82 1,030 0.09 0.84 1,061 0.09 0.87 1,093 0.09 0.89 1,126 0.09 0.92

Repairs 5,000 0.42 4.08 5,150 0.43 4.21 5,305 0.44 4.33 5,464 0.46 4.46 5,628 0.47 4.60

Supplies 2,000 0.17 1.63 2,060 0.17 1.68 2,122 0.18 1.73 2,185 0.18 1.79 2,251 0.19 1.84

Property Taxes 19,308 1.61 15.77 19,887 1.66 16.25 20,484 1.71 16.74 21,098 1.76 17.24 21,731 1.81 17.75

Trash Removal 14,400 1.20 11.76 14,832 1.24 12.12 15,277 1.27 12.48 15,735 1.31 12.86 16,207 1.35 13.24

Electricity 16,800 1.40 13.73 17,304 1.44 14.14 17,823 1.49 14.56 18,358 1.53 15.00 18,909 1.58 15.45

Telephone/WIFI 2,220 0.19 1.81 2,287 0.19 1.87 2,355 0.20 1.92 2,426 0.20 1.98 2,499 0.21 2.04

Water 10,200 0.85 8.33 10,506 0.88 8.58 10,821 0.90 8.84 11,146 0.93 9.11 11,480 0.96 9.38

Septic Pump/WWTP 6,600 0.55 5.39 6,798 0.57 5.55 7,002 0.58 5.72 7,212 0.60 5.89 7,428 0.62 6.07

Credit Card Fees 1,278 0.11 1.04 1,316 0.11 1.08 1,356 0.11 1.11 1,397 0.12 1.14 1,438 0.12 1.18

Miscellaneous 10,000 0.83 8.17 10,300 0.86 8.42 10,609 0.88 8.67 10,927 0.91 8.93 11,255 0.94 9.20

133,638$ 11.14 109.18 142,049$ 11.84 116.05 150,040$ 12.50 122.58 157,043$ 13.09 128.30 161,754$ 13.48 132.15

173,886$ 14.49 142.06 226,979$ 18.91 185.44 274,343$ 22.86 224.14 309,778$ 25.81 253.09 319,071$ 26.59 260.68

Cash Flow Before Taxes 173,886$ 14.49 142.06 226,979$ 18.91 185.44 274,343$ 22.86 224.14 309,778$ 25.81 253.09 319,071$ 26.59 260.68


Total Operating Expenses

Operating Expenses


© 1993 - 2014 Cash Flow Analyzer® http://RentalSoftware.com

Annual Property Operating Data102-Sp Sportsman's Cove MHP/RV

5423 Avenue F

McIntosh, FL 32664

Column 1

Column 2

Potential Rental Income

Less: Vacancy & Credit Losses

Advertising

Auto & Travel

Insurance

Landscaping

Maintenance

Management Fee

Professional Fees

Repairs

Supplies

Property Taxes

Trash Removal

Electricity

Telephone/WIFI

Water

Septic Pump/WWTP

Credit Card Fees

Miscellaneous

Cash Flow Before Taxes


Total Operating Expenses

Operating Expenses


Benny Spensieri

813-391-1545

Year 6 Sq Ft Per Unit Year 7 Sq Ft Per Unit Year 8 Sq Ft Per Unit Year 9 Sq Ft Per Unit Year 10 Sq Ft Per Unit

521,316$ 43.44 425.91 526,529$ 43.88 430.17 531,794$ 44.32 434.47 537,112$ 44.76 438.82 542,483$ 45.21 443.21

(26,066) -2.17 -21.30 (26,326) -2.19 -21.51 (26,590) -2.22 -21.72 (26,856) -2.24 -21.94 (27,124) -2.26 -22.16

495,250$ 41.27 404.62 500,203$ 41.68 408.66 505,205$ 42.10 412.75 510,257$ 42.52 416.88 515,359$ 42.95 421.05

4,841 0.40 3.96 4,986 0.42 4.07 5,136 0.43 4.20 5,290 0.44 4.32 5,449 0.45 4.45

3,396 0.28 2.77 3,497 0.29 2.86 3,602 0.30 2.94 3,710 0.31 3.03 3,822 0.32 3.12

2,353 0.20 1.92 2,424 0.20 1.98 2,497 0.21 2.04 2,572 0.21 2.10 2,649 0.22 2.16

5,565 0.46 4.55 5,731 0.48 4.68 5,903 0.49 4.82 6,080 0.51 4.97 6,263 0.52 5.12

5,796 0.48 4.74 5,970 0.50 4.88 6,149 0.51 5.02 6,334 0.53 5.17 6,524 0.54 5.33

41,705 3.48 34.07 42,122 3.51 34.41 42,544 3.55 34.76 42,969 3.58 35.11 43,399 3.62 35.46

1,159 0.10 0.95 1,194 0.10 0.98 1,230 0.10 1.00 1,267 0.11 1.03 1,305 0.11 1.07

5,796 0.48 4.74 5,970 0.50 4.88 6,149 0.51 5.02 6,334 0.53 5.17 6,524 0.54 5.33

2,319 0.19 1.89 2,388 0.20 1.95 2,460 0.20 2.01 2,534 0.21 2.07 2,610 0.22 2.13

22,383 1.87 18.29 23,055 1.92 18.84 23,746 1.98 19.40 24,459 2.04 19.98 25,193 2.10 20.58

16,694 1.39 13.64 17,194 1.43 14.05 17,710 1.48 14.47 18,241 1.52 14.90 18,789 1.57 15.35

19,476 1.62 15.91 20,060 1.67 16.39 20,662 1.72 16.88 21,282 1.77 17.39 21,920 1.83 17.91

2,574 0.21 2.10 2,651 0.22 2.17 2,730 0.23 2.23 2,812 0.23 2.30 2,897 0.24 2.37

11,825 0.99 9.66 12,179 1.01 9.95 12,545 1.05 10.25 12,921 1.08 10.56 13,309 1.11 10.87

7,651 0.64 6.25 7,881 0.66 6.44 8,117 0.68 6.63 8,361 0.70 6.83 8,612 0.72 7.04

1,482 0.12 1.21 1,526 0.13 1.25 1,572 0.13 1.28 1,619 0.13 1.32 1,668 0.14 1.36

11,593 0.97 9.47 11,941 1.00 9.76 12,299 1.02 10.05 12,668 1.06 10.35 13,048 1.09 10.66

166,607$ 13.88 136.12 170,771$ 14.23 139.52 175,051$ 14.59 143.02 179,452$ 14.95 146.61 183,976$ 15.33 150.31

328,644$ 27.39 268.50 329,432$ 27.45 269.14 330,153$ 27.51 269.73 330,805$ 27.57 270.27 331,383$ 27.62 270.74

328,644$ 27.39 268.50 329,432$ 27.45 269.14 330,153$ 27.51 269.73 330,805$ 27.57 270.27 331,383$ 27.62 270.74



Benny Spensieri

813-391-1545

Time Net Operating Debt Cash Flow Incomes Cash Flow

Period Income Service Before Tax Taxes After Tax

Int Investment (2,100,000)$ (2,100,000)$

Year 1 173,886 - - 173,886 - 173,886

Year 2 226,979 - - 226,979 - 226,979

Year 3 274,343 - - 274,343 - 274,343

Year 4 309,778 - - 309,778 - 309,778

Year 5 319,071 - - 319,071 - 319,071

Year 6 328,644 - - 328,644 - 328,644

Year 7 329,432 - - 329,432 - 329,432

Year 8 330,153 - - 330,153 - 330,153

Year 9 330,805 - - 330,805 - 330,805

Year 10 331,383 - - 331,383 - 331,383

5423 Avenue F

McIntosh, FL 32664

MIP Payments

$

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

1 2 3 4 5 6 7 8 9 10

Cash Flow After Taxes

Cash Flow Before Taxes



5423 Avenue F

McIntosh, FL 32664Benny Spensieri

813-391-1545

Time Initial Investment Cash Flow Cash on Cash Income Cash Flow Cash on Cash

Period Adj for Refinance Before Taxes Before Taxes Taxes After Taxes After Taxes

Year 1 2,100,000$ 173,886$ 8.28% $ 173,886$ 8.28%

Year 2 2,100,000 226,979 10.81% - 226,979 10.81%

Year 3 2,100,000 274,343 13.06% - 274,343 13.06%

Year 4 2,100,000 309,778 14.75% - 309,778 14.75%

Year 5 2,100,000 319,071 15.19% - 319,071 15.19%

Year 6 2,100,000 328,644 15.65% - 328,644 15.65%

Year 7 2,100,000 329,432 15.69% - 329,432 15.69%

Year 8 2,100,000 330,153 15.72% - 330,153 15.72%

Year 9 2,100,000 330,805 15.75% - 330,805 15.75%

Year 10 2,100,000 331,383 15.78% - 331,383 15.78%

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

1 2 3 4 5 6 7 8 9 10

After Taxes

Before Taxes



5423 Avenue F


813-391-1545

Time Net Operating Cap Rate on Cost Resale

Period Income (NOI) 2,100,000$ Value

Year 1 173,886$ 8.28% 2,205,000$

Year 2 226,979 10.81% 2,315,250

Year 3 274,343 13.06% 2,431,013

Year 4 309,778 14.75% 2,552,563

Year 5 319,071 15.19% 2,578,089

Year 6 328,644 15.65% 2,603,870

Year 7 329,432 15.69% 2,629,908

Year 8 330,153 15.72% 2,656,207

Year 9 330,805 15.75% 2,682,769

Year 10 331,383 15.78% 2,709,597

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

1 2 3 4 5 6 7 8 9 10



5423 Avenue F


813-391-1545

Time Projected Adj Projected Refi Proceeds Mortgage(s) Sale Proceeds Income Taxes Sale Proceeds Property Year / Year

Period Resale Value Increase (if any) Balance Payoff Before Taxes From Sale After Taxes Equity Equity Increase

Year 1 2,138,850$ 1.85% $ $ 2,138,850$ $ 2,138,850$ 2,138,850$ 38,850$

Year 2 2,245,793 5.00% - - 2,245,793 - 2,245,793 2,245,793 106,943

Year 3 2,358,082 5.00% - - 2,358,082 - 2,358,082 2,358,082 112,290

Year 4 2,475,986 5.00% - - 2,475,986 - 2,475,986 2,475,986 117,904

Year 5 2,500,746 1.00% - - 2,500,746 - 2,500,746 2,500,746 24,760

Year 6 2,525,754 1.00% - - 2,525,754 - 2,525,754 2,525,754 25,007

Year 7 2,551,011 1.00% - - 2,551,011 - 2,551,011 2,551,011 25,258

Year 8 2,576,521 1.00% - - 2,576,521 - 2,576,521 2,576,521 25,510

Year 9 2,602,286 1.00% - - 2,602,286 - 2,602,286 2,602,286 25,765

Year 10 2,628,309 1.00% - - 2,628,309 - 2,628,309 2,628,309 26,023

$-

$500,000

$1,000,000

$1,500,000

$2,000,000

$2,500,000

$3,000,000

1 2 3 4 5 6 7 8 9 10



5423 Avenue F


813-391-1545

Rental Annual Change Annual Change Trapped Return on Hold

Cash Flow in Equity in Net Worth Equity Equity (ROE) Sell

6.00% A B (A + B)

Year 1 173,886 38,850 212,736 2,100,000 10.13% Hold

After Year Year 2 226,979 106,943 333,921 2,138,850 15.61% Hold

5 Year 3 274,343 112,290 386,632 2,245,793 17.22% Hold

Year 4 309,778 117,904 427,682 2,358,082 18.14% Hold

Year 5 319,071 24,760 343,831 2,475,986 13.89% Hold

Year 6 328,644 25,007 353,651 2,500,746 14.14% Hold

Year 7 329,432 25,258 354,689 2,525,754 14.04% Hold

Year 8 330,153 25,510 355,663 2,551,011 13.94% Hold

Year 9 330,805 25,765 356,570 2,576,521 13.84% Hold

Year 10 331,383 26,023 357,406 2,602,286 13.73% Hold

Required Return on

EquityTime Period

0.00%

2.00%

4.00%

6.00%

8.00%

10.00%

12.00%

14.00%

16.00%

18.00%

20.00%

1 2 3 4 5 6 7 8 9 10

Return on Equity (ROE)



5423 Avenue F

McIntosh, FL 32664 Benny Spensieri

813-391-1545

Cash on Cash

Time Period Potential Operating, Debt, Occupancy BreakEven Max Vacancy BreakEven Max Vacancy

Requirement Rental Income Reserve Expenses Rate (Existing) Occupancy Rate BreakEven Rate Occupancy Rate BreakEven Rate

6.00% w/ Cash on Cash w/ Cash on Cash

Year 1 323,709 (133,638) 95.00% 41.28% 58.72% 80.21% 19.79%

Year 2 388,451 (142,049) 95.00% 36.57% 63.43% 69.00% 31.00%

Year 3 446,718 (150,040) 95.00% 33.59% 66.41% 61.79% 38.21%

Year 4 491,390 (157,043) 95.00% 31.96% 68.04% 57.60% 42.40%

Year 5 506,132 (161,754) 95.00% 31.96% 68.04% 56.85% 43.15%

Year 6 521,316 (166,607) 95.00% 31.96% 68.04% 56.13% 43.87%

Year 7 526,529 (170,771) 95.00% 32.43% 67.57% 56.36% 43.64%

Year 8 531,794 (175,051) 95.00% 32.92% 67.08% 56.61% 43.39%

Year 9 537,112 (179,452) 95.00% 33.41% 66.59% 56.87% 43.13%

Year 10 542,483 (183,976) 95.00% 33.91% 66.09% 57.14% 42.86%

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BreakEven Occupancy

BreakEven Occupancy with Cash on Cash Requirment



CRES Corp International, LLC1228 E 7th Ave0Tampa, Fl 33605

[email protected]

Benny Spensieri

Commercial Real Estate Services - Financial Services – Management & Leasing Services

CRES Corp International, LLC (CCI) is a Commercial Real Estate firm offering brokerage, finance and

management services.

Our unique business model brings to our property owners and investors the means to get transactions

completed where all parties are satisfied.

CRES Corp International offers the Preferred Investor Program (PIP), where our Clients receive the following

benefits:

Property Owners

No Exclusive Listing Agreement

Property introduced only to Pre-Qualified Investors who:

Have Sufficient Funds for RE Purchases

Have Experience in Investing

Make Reasonable Offers

Investors

Receive Information on “Off-Market” Property

Receive information on “Pre-Listed” Property

Minimal Competition

Great Price on their RE Purchases

CRES Corp International specializes in the following commercial property:

Apartments

Hotels

MHP/RV

Office Buildings/Complexes

Medical Offices & Centers

Vacant Land (Development)

For further information contact Benny Spensieri – 813-391-1545 or [email protected]

Benny Spensieri

813-391-1545

[email protected]

Terms & Definitions

Tampa, Fl 33605

0

CRES Corp International, LLC1228 E 7th Ave

Net Operating Income (NOI) is a property’s gross rental income reduced by all expenses except for loan payments,income taxes, mortgage insurance premium (MIP) payments and sometimes funded reserves.

Debt Coverage Ratio (DCR) is a property’s net operating income divided by the amount of debt payments. Lendersuse this calculation to determine the remaining operating cash flow after the debt payments.

Loan-to-Value Ratio (LTV) is the outstanding debt divided by the value of the property. This ratio is used to determinethe amount of leverage and property equity. The debt balance can be the beginning or end-of-year balance. Theproperty value used can be the contract price or the fair market value at the end of the year.

Capitalization Rate (Cap Rate) is the net operating income (NOI) divided by either the property’s contract purchaseprice or its fair market value.

Cash-on-Cash Return is the net cash flow divided it by the initial investment (down payment). The calculation doesnot take into account the time value of money or change in the property’s equity.

Cash-on-Cash Return with Equity Build-up modifies the cash-on-cash return calculation by adding the property’s netchange in equity for that year to the numerator and adding all previously generated equity to the denominator of thecash-on-cash return ratio. The calculation calculates the return on the property equity, i.e. the return on the cash thatis “tied up” in the property.

Net Present Value (NPV) converts future dollars into present-day dollars by discounting (reducing) the future cash flowof a property by a given rate or percentage. The initial investment (down payment) is subtracted from the discounteddollars to derive the NPV. A positive NPV means that the property will generate a higher return than the given rate orpercentage used to calculate the NPV amount.

Gross Rent Multiplier (GRM) is a property’s fair market value divided by its gross rental income.

Mortgage Insurance Premium (MIP) Payments are insurance premiums charged by a lender to protect that lenderagainst loss from a mortgager's default. The rates are charged on the balance of the loan and may be paid annually,monthly, or in some combination of the two (split premiums).

Internal Rate-of-Return (IRR) is the most widely used method of valuing a property’s annual cash flow stream. Sincea property’s cash flow is earned in the future, those future dollars must be converted to present-day dollars. The IRRcalculation discounts (reduces) the property’s future cash flow at a rate (i.e. percentage) so that the sum of all cashflow for a specified time period is equal to the initial investment. The rate or percentage needed to do that is the IRR.In other words, IRR is the discount rate at which Net Present Value (NPV) is zero.

Modified Internal Rate-of-Return (MIRR) modifies the IRR to avoid the drawbacks of the traditional IRR. The IRRimplicitly assumes that all cash flow is either reinvested or discounted at the computed IRR rate. In reality, a property’scash flow probably will not be reinvested at the computed IRR rate, but rather earn zero or a small amount of interest.The MIRR eliminates the reinvestment assumption by utilizing user stipulated reinvestment and borrowing rates.

102-sp sportsman's cove mhp/rv - loopnet · 2018-07-19 · 102-sp sportsman's cove mhp/rv...

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