cedar forest apartments 1515 campbell road houston, tx … · cedar forest apartments sales...

CEDAR FOREST APARTMENTS

1515 Campbell RoadHouston, TX 77055

Brian Janak, TX Broker / MBA

[email protected]

TX License 9000402

❖ Hi-Growth Submarket - New High End Construction on All Sides,Value-Add Potential: Current Rents at .74nrsf

❖ Superior Spring Branch Sub-Market located within 10 minutes driveto I-10, US-290, West Loop 610 and Beltway 8

❖ Surrounded by the Highest Growth areas in Houston: EnergyCorridor, Memorial City, City Center, Westchase District

❖ Pitched Roofs, 974sf Unit Avg, 3/2 units W/D connections,Individually Metered, Central HVAC, Certificate of Occupancy

❖ 8.5 CAP-Actuals with 15.4% Return as Covered Land with 7 Acresin Spring Branch - 184 Units - Fully Occupied

Phone: 832-247-6333 ● Fax: 888-424-2075 ● 17419 Astrachan Rd. ● Richmond, TX 77407 ● www.innerloopwest.com

Property DescriptionCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055

Brian Janak, TX Broker / MBA832-247-6333

Highest Density / Lowest Price Large Residential Tract1515 Campbell Road Houston, TX - Spring Branch

Cedar Forest encompasses 7 acres andcontains 184 apartment units with an occupancyin mid 90% range. The tightness of the SpringBranch market for close in residences hascreated a stable performing property with nearlyfull occupancy and no concessions on newleases. Upside exists in the form of higher rentsgoing into Summer 2015 as over 90% of thecurrent tenant base is going month-to-monthsince first year leases have expired, whichcreates a good opportunity for new managementto set course. For Value-add investors, theopportunity for rehab and effective marketing toreposition the asset to capture the underserved gray collar tenants displaced by the growth ofnearby in-fill sub-markets of Houston, should be considered. Such renovated units, which is a trendemerging in areas in the path of growth like Spring Branch, investors are already capturing $1.25 orhigher rents.

This Spring Branch property is sandwiched between all the major new office and retaildevelopments. Major established asset enhancement entities such as Westchase District, WestHouston Energy Corridor, Memorial City District, and Town and Country Center all provide afoundation for the Spring Branch Management District to learn from as growth is happening.Located just North of I-10, this central fast growing Spring Branch sub-market of Houston is situatedalong 1515 Campbell, South of Long Point and just North of Westview. To the North of the subjectproperty, the new Hempstead Highway will emerge, to the South the Houston Galleria, and theInner Loop to the East. From the property, you are within walking distance to several grocerystores and restaurants. To the South, it is situated along one of the most desirable residentialareas of Spring Branch where you find deed restricted single family homes, small businesses likeTexas Rock Gym, and a growing number of new constructed homes. This is an area in transitionresulting in sustainability due to strong occupancies and excellent income growth.

Interested investors must arrange tour through listing broker and proof of funds will be required.

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Property PhotosCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


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Unit Mix ReportCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


UNIT MIXES

Units Type Approx. SqFt Avg. Rents Monthly Mkt Rents Monthly48 1Bdrm 1Bath 750 $650 $31,200 $675 $32,40068 2Bdrm 1Bath 950 $750 $51,000 $775 $52,70040 2Bdrm 2Bath 1100 $850 $34,000 $875 $35,00013 3Bdrm 2Bath 1300 $900 $11,700 $925 $12,02515 3Brdm 2Bath 1300 $900 $13,500 $925 $13,875184 181,000 $141,400 $146,000

UNIT MIX UNIT MIX SQUARE FEET

● 1Bdrm 1Bath● 2Bdrm 1Bath● 2Bdrm 2Bath● 3Bdrm 2Bath● 3Brdm 2Bath


UNIT MIX INCOME UNIT MIX MARKET INCOME



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Pro Forma SummaryCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


UNIT MIX & MONTHLY SCHEDULED INCOME

Type Units Actual Total Market Total

1Bdrm 1Bath 48 $650 $31,200 $675 $32,400

2Bdrm 1Bath 68 $750 $51,000 $775 $52,700

2Bdrm 2Bath 40 $850 $34,000 $875 $35,000

3Bdrm 2Bath 13 $900 $11,700 $925 $12,025

3Brdm 2Bath 15 $900 $13,500 $925 $13,875

TOTALS 184 $141,400 $146,000

ANNUALIZED INCOMEActual Market

Gross Potential Rent $1,696,800 $1,752,000Loss to Lease/Vacancy ($121,364) ($87,600)Misc. Income $45,900 $45,900Effective Gross Income $1,621,336 $1,710,300

Less: Expenses ($762,023) ($785,583)Net Operating Income $859,313 $924,717

Debt Service ($461,489) ($461,489)Net Cash Flow after Debt Service $397,824 $463,228

Principal Reduction $122,444 $122,444Total Return $520,268 $585,672

ANNUALIZED EXPENSES

Actual MarketProperty Management Fee $0 $70,080Admin/Office $2,250 $2,250Bad Debt $54,684 $20,000Building Insurance $64,752 $73,600Grounds Maintenance $7,200 $7,200Legal/Permits $8,236 $4,000Maintenance $36,800 $36,800Maintenance Salary $0 $65,000Management Fee $200,000 $50,000Pest Control $1,500 $1,800Taxes - Real Estate $133,670 $200,000Trash Removal $11,353 $11,353Utility - Electricity $11,092 $12,500Utility - Gas $40,486 $41,000Utility - Water/Sewer $190,000 $190,000

Total Expenses $762,023 $785,583

Expenses Per RSF $4.21 $4.34

Expenses Per Unit $4,141 $4,269

.

INVESTMENT SUMMARY

Price: $10,120,000

Year Built: 1960

Units: 184

Price/Unit: $55,000

RSF: 181,000

Price/RSF: $55.91

Lot Size: 305,470 sf

Floors: 2

Parking Spaces: 1.74:1

Cap Rate: 8.49%

Market Cap Rate: 9.14%

GRM: 5.81

Market GRM: 5.63

FINANCING SUMMARY

Loan Amount: $7,590,000

Down Payment: $2,530,000

Loan Type: Fixed

Interest Rate: 4.5%

Term: 30 years

Monthly Payment: $38,457

DCR: 1.86

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Sales ComparablesCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


Subj 1 2 3 4 5 6 7 9 10 11 12 13

2%

4%

6%

8%

10%

12%

14%

16%

Avg.7.979

Cap Rate

Subj 1 2 4 5 6 7 9 10 11 12 13

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

Avg.6.711

Gross Rent Multiplier

Subj 1 2 3 4 5 6 7 8 9 10 11 12 13

$16,000

$32,000

$48,000

$64,000

$80,000

$96,000

$112,000

$128,000

Avg.$65,502

Price per Unit

Subj 1 2 3 4 5 6 7 8 9 10 11 12 13

$21

$42

$63

$84

$105

$126

$147

$168

Avg.$84.12

Price per Sq. Ft.

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S CEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055

Sale Price $10,120,000Units 184Price/Unit $55,000Price/SqFt $55.91Cap Rate 8.49%Year Built 1960GRM 5.81

# Units Unit Type48 1Bdrm 1Bath

68 2Bdrm 1Bath

40 2Bdrm 2Bath

13 3Bdrm 2Bath

15 3Brdm 2Bath

NOTESLarge Units, Great Location,Individually Metered, Pitched Roofs.

1 PINE VILLAGE9733 NeuensHouston, TX 77080

Sale Price $1,350,000Units 24Price/Unit $56,250Price/SqFt $76.27Cap Rate 9.0%Year Built 1961Sale Date 12/1/2014GRM 6.62

# Units Unit Type6 One Bedroom One Bath

18 Two Bedroom One Bath

NOTESBest in Class Property, window units, has COO, pool.Mostly 2Bdrms (18), Tenant pays electrical and gas.

2 Woodvine7550 Long Point RdHouston, TX 77055


# Units Unit Type34 Studio/Efficiency

28 One Bedroom One Bath


28 Two Bedroom Two Bath

11 Three Bedroom Two Bath

NOTES100% Occupied, $1.03/NRSF Rents ABP, under contract with 1031 Exchange buyer from Colorado.

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3 Spring Lake8800 HammerlyHouston, TX 77080

Sale Price $11,200,000Units 208Price/Unit $53,846Price/SqFt $81.80Cap Rate 6.0%Year Built 1981 ClosedGRM N/A




NOTESOff market. Low $30spsf Land, value add buyer who owns across the street.

4 Pine Chase1717 Pine ChaseHouston, TX 77055


# Units Unit Type

NOTESSold to SFH developer. Zoned to Memorial High, $38.30 per SF land.

5 Crownover Apartments1718 CrownoverHouston, TX 77055

Sale Price $792,000Units 15Price/Unit $52,800Price/SqFt $62.56Cap Rate 9.3%Year Built 1960Sale Date 8/27/2013GRM 7.0

# Units Unit Type

NOTESRecent Sale, Listed at $825,000, 100% full.

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6 Timbergrove Park2205 West 11th StreetHouston, TX 77008


# Units Unit Type

NOTESILW Sale, will be redeveloped in to Apartments. $28psf Land.

7 BERMUDA WOODS1500 Witte RoadHouston, TX 77080






46 Three Bedroom Two Bath

NOTESNorth of Long Point Road, Buyer will operate, add-value of $13K per door upgrades. Large Units with rent increases coming

8 Blalock Woods1111 Blalock RoadHouston, TX 77055

Sale Price $23,000,000Units 316Price/Unit $72,785Price/SqFt $63.79Cap Rate N/AYear Built 1973Sale Date 10/1/2014GRM N/A

# Units Unit Type

NOTESClose to Subject, Notice to tenants to vacate by June 2015. Will develop half into new Apartments, and homes for the northern tracts.

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9 Timbergrove1600 West TC Jester Blvd.Houston, TX 77008




NOTESILW Sale, currently being repositioned, Full Renovation. Purchase price was $52.13 per SF Land, $65,885 a door.

10 Oakwood Manor611 W Cavalcade StreetHouston, TX 77009





NOTESRehab beginning Nov 2014, sold with ILW Listing 500 W Crosstimbers, both being repositioned by same buyer.

11 Byrne Heights935 ByrneHouston, TX 77009




NOTESILW Listing, Sold to International Investor very close to list price.

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12 Pecore Apartments300 PecoreHouston, TX 77009


# Units Unit Type

NOTESSold to investor as a stable renovated/rehabbed property.

13 Crosstimbers Apartments500 W. CrosstimbersHouston, TX 77018





NOTESProject is under going current rehab.

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1 1515 Campbell Road, Houston, TX 77055 ($10,120,000)A 9733 Neuens, Houston, TX 77080 ($1,350,000)B 7550 Long Point Rd, Houston, TX 77055 ($5,200,000)C 8800 Hammerly, Houston, TX 77080 ($11,200,000)D 1717 Pine Chase, Houston, TX 77055 ($5,000,000)E 1718 Crownover, Houston, TX 77055 ($792,000)F 2205 West 11th Street, Houston, TX 77008 ($3,900,000)G 1500 Witte Road, Houston, TX 77080 ($9,400,000)H 1111 Blalock Road, Houston, TX 77055 ($23,000,000)I 1600 West TC Jester Blvd., Houston, TX 77008 ($6,325,000)J 611 W Cavalcade Street, Houston, TX 77009 ($6,025,000)K 935 Byrne, Houston, TX 77009 ($2,300,000)L 300 Pecore, Houston, TX 77009 ($3,750,000)M 500 W. Crosstimbers, Houston, TX 77018 ($5,000,000)

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Rent Comparables ChartsCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


Subject 1 2 3 4 5 6 7 8 9 10 11

10%

20%

30%

40%

50%

60%

70%

80%

90%

100% Avg.98.0

Occupancy

One Bedroom One Bath Two Bedroom One Bath Two Bedroom Two Bath Studio/Efficiency

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$754

$891

$997

$563

Average Rent per Unit Type

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Rent ComparablesCEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055


S CEDAR FOREST APARTMENTS1515 Campbell RoadHouston, TX 77055

Avg Rent/rsf $0.74RSF 181,000Occupancy 100%Units 184Year Built 1960

# Units Unit Type Rent48 1Bdrm 1Bath $65068 2Bdrm 1Bath $75040 2Bdrm 2Bath $85013 3Bdrm 2Bath $90015 3Brdm 2Bath $900

NOTESLarge Units, Great Location,Individually Metered, Pitched Roofs.

1 Oak Forest1370 Afton Houston, TX 77055

Avg Rent/rsf $0.97RSF N/AOccupancy 100%Units N/AYear Built 1971

# Units Unit Type RentOne Bedroom One Bath $630

Two Bedroom One Bath $800

2 Glens, The1502 PechHouston, TX 77055


# Units Unit Type Rent28 One Bedroom One Bath $740

32 Two Bedroom One Bath $935

8 Two Bedroom One Bath $1,000

NOTESGated, updated, well maintained

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3 Shavelson6800 ShavelsonHouston, TX 77055



NOTESRenovated throughout, new Roofs, new Central HVAC, Granite, stainless appliances, gated, landscaping...good rents at or over $1.30 psf.

4 Oaks of Moritz1541 MoritzHouston, TX 77055




8 Two Bedroom Two Bath $825

5 Legends of Memorial Ph II910 SilberHouston, TX 77024


# Units Unit Type RentStudio/Efficiency $545

Studio/Efficiency $580

One Bedroom One Bath $900

One Bedroom One Bath $940

Two Bedroom One Bath $1,075NOTESRenovated units, additional RUBs need to be added on top of rent.

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6 PINE VILLAGE9733 NeuensHouston, TX 77080




NOTESBest in Class Property, window units, has COO, pool.7 offers at or above $1.3M list price.

7 Highcrest Apts7500 HighcrestHouston, TX 77055




NOTES100% Occupied, $0.96/NRSF Rents. Pitched Roofs, Central HVAC, Gas Stoves - Full Price.

8 Woodvine Park Rental1311 Antoine DriveHouston, TX 77055



NOTESUpdated Unit, posted on MLS for Lease

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9 Amberwood1830 JohannaHouston, TX 77055




NOTESAsking rents include $42 & $52 for Water for 1 & 2 bdrm respectively.

10 Westview Court1275 WitteHouston, TX 77055



NOTESTenant is rubbed separately for Water. Rent + Water.

11 Aspenwood2121 PechHouston, TX 77055




32 Two Bedroom Two Bath $1,040

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1 1515 Campbell Road Houston, TX 77055

A 1370 Afton Houston, TX 77055

B 1502 Pech Houston, TX 77055

C 6800 Shavelson Houston, TX 77055

D 1541 Moritz Houston, TX 77055

E 910 Silber Houston, TX 77024

F 9733 Neuens Houston, TX 77080

G 7500 Highcrest Houston, TX 77055

H 1311 Antoine Drive Houston, TX 77055

I 1830 Johanna Houston, TX 77055

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Rent Roll AnalysisProperties: 1515 Campbell

Results As of 4/30/2015

Customer Unit Unit Type RentVacancy

LossMisc

ChargesTotal

Charges BalanceSecurityDeposit

Move-inDate Lease End

Last RentIncrease

IncreaseAmount

1515 CampbellLopez, Miguel Apt 1 950.00 0.00 0.00 950.00 950.00 200.00 10/8/2013 1/31/2015 50.004/1/20153B/2B WDMontoya, Franci Apt 2 950.00 0.00 0.00 950.00 950.00 150.00 4/1/2014 4/30/2014 50.004/1/20153B/2B WDKing, Jerome Apt 3 900.00 0.00 0.00 900.00 900.00 200.00 7/12/2013 7/31/2014 50.0011/1/20143B/2BArroyo, Eduardo Gonzales Apt 4 950.00 0.00 0.00 950.00 0.00 200.00 2/17/2015 4/30/2015 50.002/1/20153B/2BPlake, James Apt 5 900.00 0.00 0.00 900.00 900.00 200.00 10/21/2013 10/31/2014 50.0011/1/20143B/2B WDLeyva, Macario Apt 6 950.00 0.00 0.00 950.00 50.00 150.00 2/27/2014 2/28/2014 50.004/1/20153B/2B WDMartinez, Alexandra Apt 7 900.00 0.00 0.00 900.00 0.00 150.00 7/1/2014 7/31/2014 50.007/1/20143B/2BMaldonado, Nelsy Apt 8 900.00 0.00 0.00 900.00 900.00 0.00 3/1/2013 4/30/2014 131.009/1/20143B/2BGonzales, Angel Apt 9 900.00 0.00 0.00 900.00 900.00 200.00 11/1/2013 11/30/2014 50.0012/1/20143B/2B WDAleman, Arturo Apt 10 850.00 0.00 0.00 850.00 850.00 200.00 1/10/2014 1/31/2015 850.005/1/20133B/2B WDMoralez, Elias Lopez Apt 11 900.00 0.00 0.00 900.00 900.00 0.00 3/22/2012 11/30/2013 185.008/1/20143B/2BRojano, Alberto Apt 12 900.00 0.00 0.00 900.00 900.00 0.00 12/1/2012 12/30/2013 89.0010/1/20143B/2BAlvarado, Denise Apt 13 750.00 0.00 0.00 750.00 750.00 200.00 10/31/2013 10/31/2014 55.0011/1/20142B/1BJohnson, Clyde Apt 14 750.00 0.00 0.00 750.00 750.00 200.00 8/30/2013 7/31/2014 55.0010/1/20142B/1BAbalajon, Khis Adel Apt 15 750.00 0.00 0.00 750.00 750.00 0.00 3/1/2012 3/31/2013 181.008/1/20142B/1BCruz, Issac Avila Apt 16 750.00 0.00 0.00 750.00 -128.00 0.00 8/1/2006 6/30/2014 161.007/1/20142B/1BCarmona, Ivan Apt 17 750.00 0.00 0.00 750.00 0.00 150.00 8/26/2014 8/31/2014 161.007/1/20142B/1BSanchez, Matilde Apt 18 750.00 0.00 0.00 750.00 750.00 150.00 8/7/2014 8/31/2014 55.008/1/20142B/1BSanchez, Eriberto Apt 19 750.00 0.00 0.00 750.00 0.00 275.00 2/1/2015 2/28/2015 55.0010/1/20142B/1BAredondo, Alvaro Reyes Apt 20 760.00 0.00 0.00 760.00 -82.00 200.00 2/19/2015 8/30/2015 10.002/1/20152B/1BAguilar, Rudy Alfonso Apt 21 750.00 0.00 0.00 750.00 -25.00 150.00 9/2/2014 9/30/2014 161.007/1/20142B/1BMoreno, Juan Apt 22 750.00 0.00 0.00 750.00 0.00 0.00 6/1/2011 3/31/2014 152.008/1/20142B/1BEllis, Mathew Apt 23 695.00 0.00 0.00 695.00 640.00 200.00 1/15/2014 2/28/2015 66.001/1/20142B/1BArredondo, Sandra Apt 24 750.00 0.00 0.00 750.00 750.00 150.00 11/10/2014 11/30/2014 55.006/1/20142B/1BAlvarez, Fermin Bonilla Apt 25 750.00 0.00 0.00 750.00 0.00 0.00 4/1/2013 3/31/2014 152.008/1/20142B/1BJackson, Cortoya Apt 26 750.00 0.00 0.00 750.00 0.00 150.00 1/27/2015 1/31/2015 152.008/1/20142B/1BVasquez, Miguel Apt 27 750.00 0.00 0.00 750.00 750.00 200.00 1/30/2015 1/31/2015 156.008/1/20142B/1BEsparza, Guadalupe Apt 28 750.00 0.00 0.00 750.00 -10.00 300.00 3/1/2014 3/31/2014 55.0010/1/20142B/1BGuevera, Ana Lorena Apt 29 750.00 0.00 0.00 750.00 750.00 0.00 4/1/2012 3/31/2014 142.009/1/20142B/1BCruz, Jose Apt 30 750.00 0.00 0.00 750.00 748.00 150.00 2/1/2014 1/31/2015 55.002/1/20152B/1BWilliams, Jasmin Apt 31 750.00 0.00 0.00 750.00 750.00 400.00 8/6/2013 7/31/2014 55.0010/1/20142B/1BDe Jesus Estrada, Jairo Apt 32 750.00 0.00 0.00 750.00 0.00 150.00 7/15/2014 7/31/2014 201.007/1/20132B/1BLazano, Jose Apt 33 750.00 0.00 0.00 750.00 750.00 200.00 2/12/2015 2/28/2015 136.007/1/20142B/1BVargas, Eduardo Apt 34 750.00 0.00 0.00 750.00 750.00 200.00 1/1/2014 1/30/2015 55.0010/1/20142B/1BMandujano, Omar Apt 35 750.00 0.00 0.00 750.00 750.00 150.00 8/5/2014 8/31/2014 55.009/1/20142B/1BFragaso, Rober Apt 36 750.00 0.00 0.00 750.00 746.00 150.00 2/8/2014 12/31/2014 55.001/1/20152B/1BRobles, Minga Apt 37 750.00 0.00 0.00 750.00 750.00 420.00 11/5/2014 11/30/2014 152.008/1/20142B/1B

Rent Roll Analysis 4/3/15 11:02am Page 1 of rentmanager.com - property management systems rev.35235


LossMisc

ChargesTotal



Last RentIncrease

IncreaseAmount

Martinez, Juana Flores Apt 38 750.00 0.00 0.00 750.00 750.00 0.00 9/1/2010 12/31/2013 65.0010/1/20142B/1BRamirez, Javier Apt 39 750.00 0.00 0.00 750.00 -25.00 150.00 11/5/2014 11/30/2014 55.0010/1/20142B/1BPerez, Claudia Apt 40 750.00 0.00 0.00 750.00 750.00 150.00 8/8/2014 8/31/2014 55.008/1/20142B/1BDavila, Julieta Apt 41 850.00 0.00 0.00 850.00 850.00 0.00 8/10/2013 9/30/2015 192.008/1/20142B/2BCamarillo, Ana Laura Apt 42 850.00 0.00 0.00 850.00 850.00 150.00 8/7/2014 8/31/2014 192.007/1/20142B/2BBelmonte, Nelson Apt 43 850.00 0.00 0.00 850.00 0.00 150.00 8/8/2014 8/31/2014 100.007/1/20142B/2BGonzales, Yolanda Apt 44 850.00 0.00 0.00 850.00 850.00 150.00 3/7/2014 3/31/2014 100.0010/1/20142B/2BAlmanza, Robin Apt 45 850.00 0.00 0.00 850.00 847.00 150.00 11/19/2014 11/30/2014 202.008/1/20142B/2BMarconi, Antonio Apt 46 850.00 0.00 0.00 850.00 850.00 150.00 2/1/2014 7/31/2014 55.0010/1/20142B/2BCalles, Hector Apt 47 850.00 0.00 0.00 850.00 -1.33 150.00 9/2/2014 9/30/2014 192.008/1/20142B/2BCaseres, Francia Apt 48 850.00 0.00 0.00 850.00 836.00 150.00 10/28/2014 11/30/2014 250.008/1/20142B/2BLerma, Carlos Apt 49 850.00 0.00 0.00 850.00 850.00 150.00 7/15/2014 7/31/2014 100.007/1/20142B/2BReyes, Rosario Apt 50 850.00 0.00 0.00 850.00 850.00 0.00 2/1/2009 3/31/2014 190.006/1/20142B/2BBrown, Tyrissa Apt 51 850.00 0.00 0.00 850.00 850.00 300.00 3/1/2014 3/31/2014 100.009/1/20142B/2BAmaya, Juan Manuel Apt 52 850.00 0.00 0.00 850.00 -15.00 200.00 10/1/2014 10/31/2014 281.008/1/20142B/2BArroyo, Rosendo Apt 53 650.00 0.00 0.00 650.00 650.00 0.00 9/21/2012 2/28/2014 94.0010/1/20141B/1BVillasana, Hector Apt 54 650.00 0.00 0.00 650.00 0.00 150.00 12/5/2014 12/31/2014 136.009/1/20141B/1BMartinez, Brandon Apt 55 650.00 0.00 0.00 650.00 0.00 150.00 2/17/2014 3/31/2014 50.0011/1/20141B/1BWilliams, Marcos Apt 56 650.00 0.00 0.00 650.00 0.00 200.00 4/1/2015 4/30/2015 50.007/1/20141B/1BEscobar, Reyna Apt 57 950.00 0.00 0.00 950.00 950.00 0.00 10/1/2011 4/30/2012 50.004/1/20153B/2B WDGonzalez, Hernandez Apt 58 900.00 0.00 0.00 900.00 900.00 300.00 9/1/2013 12/31/2014 50.001/1/20153B/2B WDBenitez, Jose O. Apt 59 900.00 0.00 0.00 900.00 0.00 200.00 11/1/2013 11/30/2014 50.0010/1/20143B/2BCastillo, Julian Apt 60 900.00 0.00 0.00 900.00 900.00 150.00 10/1/2014 10/31/2014 160.008/1/20143B/2BContreras, Jake Apt 61 950.00 0.00 0.00 950.00 0.00 250.00 11/1/2014 11/30/2014 200.008/1/20142B/2BLopez, Oneida Apt 62 950.00 0.00 0.00 950.00 950.00 300.00 11/1/2014 11/30/2014 200.008/1/20142B/2BMateo, Jose Orlando Apt 63 850.00 0.00 0.00 850.00 850.00 200.00 2/18/2015 2/28/2015 250.008/1/20142B/2BMontalvo, Carolina Apt 64 850.00 0.00 0.00 850.00 830.00 200.00 11/1/2014 11/30/2014 234.008/1/20142B/2BYonche, Sophia Apt 65 850.00 0.00 0.00 850.00 850.00 200.00 1/23/2015 1/31/2015 191.008/1/20142B/2BGonzales, Eloy Pina Apt 66 850.00 0.00 0.00 850.00 850.00 250.00 11/1/2014 11/30/2014 192.008/1/20142B/2BPuckett, Christopher Apt 67 850.00 0.00 0.00 850.00 850.00 150.00 2/10/2015 2/28/2015 170.008/1/20142B/2BWashington, Rita Apt 68 850.00 0.00 0.00 850.00 840.00 200.00 12/3/2014 12/31/2014 234.008/1/20142B/2BBarlandrano, Pablo Apt 69 850.00 0.00 0.00 850.00 0.00 200.00 11/15/2014 11/30/2014 179.008/1/20142B/2BPerez, Arturo Apt 70 950.00 0.00 0.00 950.00 950.00 200.00 11/16/2014 11/30/2014 100.0011/1/20142B/2BGarcia, Angela Apt 71 850.00 0.00 0.00 850.00 -60.00 200.00 12/12/2014 12/31/2014 222.008/1/20142B/2BGallender, Angelica Apt 72 850.00 0.00 0.00 850.00 -0.26 250.00 12/3/2014 12/31/2014 170.008/1/20142B/2BMoncada, Jose Apt 73 850.00 0.00 0.00 850.00 850.00 0.00 1/1/2014 8/31/2014 209.006/1/20142B/2BSanchez, Rey David Apt 74 850.00 0.00 0.00 850.00 850.00 0.00 1/2/2013 12/30/2013 204.008/1/20142B/2BGutierrez, Miguel Apt 75 850.00 0.00 0.00 850.00 850.00 200.00 2/1/2015 2/28/2015 55.0011/2/20142B/2BNunez, Alicia Apt 76 850.00 0.00 0.00 850.00 224.00 200.00 2/5/2015 2/28/2015 100.0011/1/20142B/2BCamacho, Oscar Apt 77 800.00 0.00 0.00 800.00 800.00 400.00 1/13/2015 1/31/2015 -50.001/1/20152B/1.5BMedrano, Jose Apt 78 850.00 0.00 0.00 850.00 850.00 200.00 1/1/2015 1/31/2015 179.007/1/20142B/2BFeist, Emily Denise Apt 79 850.00 0.00 0.00 850.00 850.00 300.00 8/1/2014 8/31/2014 242.006/1/20142B/2BGarcia, Esteban Apt 80 850.00 0.00 0.00 850.00 -2.00 200.00 12/16/2014 12/31/2014 100.0010/1/20142B/2BTorres, Redro Apt 81 950.00 0.00 0.00 950.00 950.00 0.00 10/17/2011 3/31/2012 50.004/1/20153B/2B WDOchoa, Juan Apt 82 950.00 0.00 0.00 950.00 0.00 100.00 12/1/2012 12/30/2013 50.004/1/20153B/2B WDRent Roll Analysis 4/3/15 11:02am Page 2 of rentmanager.com - property management systems rev.35235


LossMisc

ChargesTotal



Last RentIncrease

IncreaseAmount

Trahan, Tina Michelle Apt 83 900.00 0.00 0.00 900.00 900.00 300.00 11/21/2014 12/31/2014 50.0010/1/20143B/2BAvila, Jose Apt 84 900.00 0.00 0.00 900.00 900.00 150.00 9/1/2014 9/30/2014 50.006/1/20143B/2BRuiz, Graciela Apt 85 900.00 0.00 0.00 900.00 900.00 200.00 2/1/2014 12/31/2014 50.001/1/20153B/2B WDRamos, Miguel Apt 86 900.00 0.00 0.00 900.00 890.00 200.00 11/8/2013 11/30/2014 50.0012/1/20143B/2B WDMathey, Ashley Apt 87 950.00 0.00 0.00 950.00 760.00 200.00 4/7/2015 9/30/2015 100.002/1/20153B/2BFox, Heather Apt 88 925.00 0.00 0.00 925.00 0.00 300.00 7/1/2014 7/31/2014 25.004/1/20153B/2B WDEstrada, Nilsa Apt 89 0.00 0.00 0.00 0.00 0.00 0.00 12/5/2014 -900.0012/1/20143B/2B WDZuniga, Elizabeth Apt 90 900.00 0.00 0.00 900.00 0.00 200.00 1/20/2014 1/31/2015 50.002/1/20153B/2B WDNorales, Hilda Apt 91 950.00 0.00 0.00 950.00 945.00 200.00 1/1/2015 1/30/2015 50.001/1/20153B/2BPalacios, Jennifer Apt 92 900.00 0.00 0.00 900.00 900.00 150.00 7/6/2014 7/31/2014 50.007/1/20143B/2BVACANT Apt 93 750.00 750.00 0.00 750.00 0.00 0.00 121.009/1/2014officeBrownlow, Othelia Apt 94 750.00 0.00 0.00 750.00 750.00 0.00 3/31/2011 3/31/2014 131.009/1/20142B/1BSmith, Brandy Lee Apt 95 750.00 0.00 0.00 750.00 750.00 200.00 10/10/2014 10/31/2014 55.0010/1/20142B/1BGlastonbury, John Apt 96 750.00 0.00 0.00 750.00 -218.00 150.00 12/10/2014 12/31/2014 121.009/1/20142B/1BJimenez, Alma Apt 97 750.00 0.00 0.00 750.00 750.00 0.00 1/1/2012 1/31/2014 160.007/1/20142B/1BDe La Pez, Catalina Apt 98 750.00 0.00 0.00 750.00 0.00 0.00 4/1/2012 4/30/2012 152.009/1/20142B/1BMacanche, Jenny Apt 99 750.00 0.00 0.00 750.00 750.00 0.00 10/1/2012 3/31/2014 136.008/1/20142B/1BRidley, Leshia Apt 100 700.00 0.00 0.00 700.00 700.00 150.00 9/5/2014 9/30/2014 -50.008/1/20141B/1BAubrey, Katherine Apt 101 850.00 0.00 0.00 850.00 0.00 150.00 9/17/2014 9/30/2014 192.007/1/20142B/2BViveros, Concepcion Apt 102 850.00 0.00 0.00 850.00 -0.10 200.00 1/22/2015 1/31/2015 100.007/1/20142B/2BCanpean, Miguel Apt 103 850.00 0.00 0.00 850.00 850.00 200.00 2/1/2015 2/28/2015 192.007/1/20142B/2BHamilton, Kelsey Apt 104 850.00 0.00 0.00 850.00 850.00 150.00 3/2/2015 2/28/2016 55.0012/1/20142B/2BGomez, Janelle Apt 105 850.00 0.00 0.00 850.00 850.00 150.00 11/7/2014 11/30/2014 179.007/1/20142B/2BLopez, Abraham Apt 106 850.00 0.00 0.00 850.00 850.00 150.00 3/31/2012 3/31/2014 192.008/1/20142B/2BVega, J Guadalupe Apt 107 850.00 0.00 0.00 850.00 775.00 200.00 11/7/2014 11/30/2014 100.006/1/20142B/2BCerda, Arturo Apt 108 850.00 0.00 0.00 850.00 0.00 0.00 2/15/2014 2/28/2014 178.008/1/20142B/2BAragon, Irvin Apt 109 750.00 0.00 0.00 750.00 747.00 200.00 9/10/2013 8/31/2014 55.0010/1/20142B/1BBasa, Gildardo Apt 110 750.00 0.00 0.00 750.00 0.00 0.00 7/28/2010 8/31/2012 136.009/1/20142B/1BAlayo, Jose Apt 111 750.00 0.00 0.00 750.00 750.00 300.00 12/11/2014 12/31/2014 55.0012/1/20142B/1BRosales, Noe Apt 112 750.00 0.00 0.00 750.00 745.00 200.00 10/8/2013 9/30/2014 55.0010/1/20142B/1BNarvales, Crystal Gail Apt 113 750.00 0.00 0.00 750.00 750.00 200.00 1/10/2015 1/31/2015 150.009/1/20142B/1BGuzman, Germania Apt 114 750.00 0.00 0.00 750.00 0.00 0.00 7/1/2011 9/30/2013 152.006/1/20142B/1BOrellana, Edgar Apt 115 750.00 0.00 0.00 750.00 749.35 200.00 12/17/2014 12/31/2014 165.008/1/20142B/1BTorres, Angelica Diaz Apt 116 750.00 0.00 0.00 750.00 0.00 0.00 3/24/2011 12/31/2013 156.008/1/20142B/1BJaimes, Ana Caren Apt 117 750.00 0.00 0.00 750.00 725.00 150.00 12/12/2014 1/30/2015 121.009/1/20142B/1BMejia, Debora Apt 118 750.00 0.00 0.00 750.00 -10.00 400.00 4/1/2015 136.006/1/20142B/1BChavez, Jose Luis Apt 119 750.00 0.00 0.00 750.00 0.00 200.00 11/26/2014 2/28/2015 55.006/1/20142B/1BHenry, Edward Lee Apt 120 750.00 0.00 0.00 750.00 0.00 300.00 10/24/2014 10/31/2014 181.006/1/20142B/1BGrajales, Patricia Apt 121 750.00 0.00 0.00 750.00 750.00 0.00 6/1/2011 2/28/2014 152.009/1/20142B/1BAplicano, Maribel Apt 122 750.00 0.00 0.00 750.00 750.00 0.00 12/27/2010 2/28/2014 111.009/1/20142B/1BLopez, Teresa Apt 123 750.00 0.00 0.00 750.00 750.00 150.00 11/5/2014 11/30/2014 55.0010/1/20142B/1BYbanez, Dana Gene Apt 124 750.00 0.00 0.00 750.00 125.00 250.00 4/8/2015 9/30/2015 121.005/1/20142B/1BFuentes, Trujillo Apt 125 750.00 0.00 0.00 750.00 0.00 0.00 3/5/2012 2/28/2015 55.0011/1/20142B/1BNarvaez, Erika Apt 126 750.00 0.00 0.00 750.00 750.00 150.00 3/15/2014 3/31/2014 55.0011/1/20142B/1BBonilla, Lori Ann Apt 127 750.00 0.00 0.00 750.00 703.00 200.00 1/5/2015 1/31/2015 55.0010/1/20142B/1BRent Roll Analysis 4/3/15 11:02am Page 3 of rentmanager.com - property management systems rev.35235


LossMisc

ChargesTotal



Last RentIncrease

IncreaseAmount

Keshlear, Christopher Apt 128 750.00 0.00 0.00 750.00 0.00 150.00 4/18/2014 9/30/2015 55.0010/1/20142B/1BGallegos, Nallely Apt 129 750.00 0.00 0.00 750.00 -10.00 150.00 6/1/2014 6/30/2014 55.0012/1/20142B/1BZuniga, Karen Apt 130 750.00 0.00 0.00 750.00 750.00 200.00 1/31/2014 7/31/2014 55.0010/1/20142B/1BPineda, Delmy Yanira Apt 131 760.00 0.00 0.00 760.00 760.00 0.00 5/28/2013 4/30/2014 10.003/1/20152B/1BAcosta, Noemi Apt 132 750.00 0.00 0.00 750.00 750.00 200.00 9/2/2014 9/30/2014 55.006/1/20142B/1BFrizzeell, Lisa Apt 133 650.00 0.00 0.00 650.00 650.00 150.00 4/1/2014 4/30/2014 50.0010/1/20141B/1BMescia, Nicole Apt 134 650.00 0.00 0.00 650.00 610.00 150.00 12/31/2014 12/31/2014 50.0010/1/20141B/1BAvila, Denis Apt 135 650.00 0.00 0.00 650.00 650.00 200.00 8/2/2013 2/28/2014 50.0010/1/20141B/1BMunoz, Carlos Roberto Apt 136 650.00 0.00 0.00 650.00 645.00 200.00 3/1/2015 8/31/2015 143.008/1/20141B/1BGray, Chrane Apt 137 650.00 0.00 0.00 650.00 650.00 150.00 11/12/2014 11/30/2014 50.0010/1/20141B/1BMiles, Cassandra Apt 138 650.00 0.00 0.00 650.00 649.00 150.00 12/12/2014 12/31/2014 50.004/1/20141B/1BSantana, Javier Apt 139 650.00 0.00 0.00 650.00 -22.00 200.00 3/14/2015 2/28/2016 650.005/1/20131B/1BHorton, Antoinette Apt 140 650.00 0.00 0.00 650.00 650.00 150.00 4/1/2014 4/30/2014 50.0010/1/20141B/1BHutchings, Samuel Apt 141 650.00 0.00 0.00 650.00 650.00 200.00 2/20/2015 7/30/2015 116.009/1/20141B/1BContreras, Raul Apt 142 650.00 0.00 0.00 650.00 0.00 0.00 3/24/2011 4/30/2014 124.006/1/20141B/1BMaradiaga, Sabier Apt 143 650.00 0.00 0.00 650.00 631.00 150.00 8/15/2014 8/31/2014 153.006/1/20141B/1BGallardo, Matthew Apt 144 650.00 0.00 0.00 650.00 645.00 200.00 10/1/2014 10/31/2014 50.007/1/20141B/1BPena, Javier Apt 145 650.00 0.00 0.00 650.00 0.00 0.00 12/3/2012 12/30/2013 87.0010/1/20141B/1BDe La Luz, Catalina Apt 146 650.00 0.00 0.00 650.00 0.00 200.00 1/31/2014 7/31/2014 50.0011/1/20141B/1BCastillo, Carlos Apt 147 650.00 0.00 0.00 650.00 0.00 200.00 7/27/2013 7/31/2014 50.0010/1/20141B/1BMoran, Angelica Apt 148 650.00 0.00 0.00 650.00 650.00 300.00 4/5/2014 4/30/2014 50.0010/1/20141B/1BFlores, Tabitha Apt 149 650.00 0.00 0.00 650.00 650.00 200.00 10/31/2014 11/30/2014 50.0010/1/20141B/1BAdmador, Alejandro Apt 150 650.00 0.00 0.00 650.00 650.00 0.00 7/1/2010 3/31/2014 161.008/1/20141B/1BShapland, Pearl Apt 151 650.00 0.00 0.00 650.00 0.00 100.00 2/5/2015 2/28/2015 50.007/1/20141B/1BSantana, Daniel Apt 152 650.00 0.00 0.00 650.00 0.00 200.00 8/15/2013 7/31/2014 50.0010/1/20141B/1BCoxic, Carlos Apt 153 650.00 0.00 0.00 650.00 650.00 150.00 11/10/2014 11/30/2014 50.005/1/20141B/1BCastro, Maria Apt 154 650.00 0.00 0.00 650.00 -1.00 150.00 11/5/2014 11/30/2014 50.009/1/20141B/1BGarcia, Jose Humberto Apt 155 650.00 0.00 0.00 650.00 607.00 200.00 4/3/2015 4/30/2015 195.004/1/20151B/1BRahman, Christina Apt 156 650.00 0.00 0.00 650.00 650.00 400.00 11/2/2014 11/30/2014 124.009/1/20141B/1BHernandez, Alberto Apt 157 650.00 0.00 0.00 650.00 650.00 0.00 3/29/2011 3/31/2014 94.0010/1/20141B/1BAgreda, Eriberto Apt 158 650.00 0.00 0.00 650.00 650.00 150.00 8/15/2014 8/31/2014 50.008/1/20141B/1BPorsha, Graham Charell Apt 159 650.00 0.00 0.00 650.00 650.00 400.00 3/4/2015 7/31/2015 87.007/1/20141B/1BJavon, Francis Apt 160 650.00 0.00 0.00 650.00 650.00 200.00 2/1/2015 2/28/2015 112.006/1/20141B/1BKilcourse, Douglas Apt 161 650.00 0.00 0.00 650.00 650.00 200.00 2/1/2015 2/28/2015 118.0010/1/20131B/1BOchoa, Celestino Apt 162 650.00 0.00 0.00 650.00 650.00 150.00 5/1/2014 5/31/2014 50.0010/1/20141B/1BRosales, Liliana Apt 163 650.00 0.00 0.00 650.00 0.00 150.00 8/1/2014 8/31/2014 50.008/1/20141B/1BRamirez, Santos Apt 164 650.00 0.00 0.00 650.00 0.00 200.00 10/1/2013 9/30/2014 50.0010/1/20141B/1BAlvarez, Efrain Apt 165 650.00 0.00 0.00 650.00 650.00 0.00 4/2/2011 3/31/2014 112.009/1/20141B/1BMiranda, Maria Apt 166 650.00 0.00 0.00 650.00 0.00 150.00 8/8/2014 1/31/2015 50.006/1/20141B/1BUriostegui, Juana Apt 167 650.00 0.00 0.00 650.00 650.00 0.00 9/7/2010 3/31/2014 125.009/1/20141B/1BSauls, Youla Mae Apt 168 650.00 0.00 0.00 650.00 -1.00 400.00 3/4/2015 3/31/2015 50.0010/1/20141B/1BGarner, Darien Apt 169 650.00 0.00 0.00 650.00 0.00 100.00 2/10/2015 2/28/20151B/1BChavez, Gracy Apt 170 650.00 0.00 0.00 650.00 0.00 150.00 8/1/2014 8/31/2014 119.006/1/20141B/1BVelasquez, Hector Apt 171 650.00 0.00 0.00 650.00 -5.00 200.00 3/1/2015 3/31/2015 112.0010/1/20141B/1BOnwudiwe, Chinwendu Kelly Apt 172 650.00 0.00 0.00 650.00 650.00 400.00 1/13/2015 1/31/2015 162.006/1/20141B/1BRent Roll Analysis 4/3/15 11:02am Page 4 of rentmanager.com - property management systems rev.35235


LossMisc

ChargesTotal



Last RentIncrease

IncreaseAmount

Baptiste, Elaine Living Apt 173 650.00 0.00 0.00 650.00 545.00 200.00 3/6/2015 8/30/2015 50.007/1/20141B/1BRoss, Leonard Apt 174 650.00 0.00 0.00 650.00 0.00 200.00 11/1/2013 9/30/2014 50.0010/1/20141B/1BJones, Tatiana Apt 175 650.00 0.00 0.00 650.00 650.00 400.00 11/5/2013 11/30/2014 50.0012/1/20141B/1BArmstrong, Katie Apt 176 650.00 0.00 0.00 650.00 -50.00 200.00 11/13/2013 11/30/2014 50.0012/1/20141B/1BRojas, Alma Apt 177 750.00 0.00 0.00 750.00 750.00 150.00 9/19/2014 10/31/2014 136.0010/1/20142B/1BAllen, James Apt 178 750.00 0.00 0.00 750.00 -8.00 400.00 12/27/2013 1/31/2015 55.002/1/20152B/1BPalacios, Eva Apt 179 750.00 0.00 0.00 750.00 750.00 150.00 4/2/2014 4/24/2014 55.0010/1/20142B/1BPalacios, Omar Apt 180 750.00 0.00 0.00 750.00 750.00 150.00 3/1/2014 3/31/2014 55.0010/1/20142B/1BGaona, Nellie Apt 181 750.00 0.00 0.00 750.00 745.00 400.00 2/1/2014 2/28/2015 55.003/1/20152B/1BMartinez, Miguel Angel Apt 182 750.00 0.00 0.00 750.00 740.00 200.00 1/1/2014 1/31/2015 55.002/1/20152B/1BRocha, Carlos Apt 183 750.00 0.00 0.00 750.00 745.00 150.00 1/26/2015 2/28/2015 55.0010/1/20142B/1BVasquez, Romel Apt 184 750.00 0.00 0.00 750.00 750.00 150.00 6/13/2014 6/30/2014 55.006/1/20142B/1BLaundry Laundry 0.00 0.00 100.00 100.00 100.00 0.00 8/1/2013Laundry

141,090.00 750.00 100.00 141,190.00 91,673.66 29,945.00Total for Property141,090.00 750.00 100.00 141,190.00 91,673.66 29,945.00Report Totals

Occupied Unit Rent:Vacancy Rent: 750.00

Report SummaryTotal Possible Rent: 141,090.00

# of Units:Vacant Units:Occupancy %:

1

140,340.00

99.46%

185

Rent Roll Analysis 4/3/15 11:02am Page 5 of rentmanager.com - property management systems rev.35235

Profit & Loss Monthly RecapProperties: 1515 Campbell

Monthly recap 4/1/2014-3/31/2015

APR 14 MAY 14 JUN 14 JUL 14 AUG 14 SEP 14 OCT 14 NOV 14 DEC 14 JAN 15 FEB 15 MAR 15 TOTAL

INCOME

4100 Rental Income (non-posting)

4101 Rental Income 101,643.67 103,616.76 105,786.49 112,118.13 121,071.08 123,410.09 125,313.41 133,054.00 132,736.79 131,020.34 136,722.74 139,484.71 1,465,978.21

4102 Risk Fee 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

4103 Pet Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

4107 Eviction Fee 280.00 280.00 560.00 900.00 1,071.00 1,510.00 890.00 771.00 600.00 650.00 290.00 290.00 8,092.00

4108 Application Fees 175.00 70.00 630.00 700.00 805.00 785.00 495.00 658.00 345.00 560.00 455.00 245.00 5,923.00

4109 NSF Fees 0.00 0.00 0.00 35.00 0.00 35.00 35.00 0.00 0.00 0.00 35.00 0.00 140.00

4110 Late Fees 1,696.00 1,636.00 3,371.00 2,450.00 3,251.00 4,220.00 4,175.00 3,359.58 3,527.00 3,040.00 2,757.00 1,879.75 35,362.33

4119 Locks/Key Income 0.00 0.00 0.00 0.00 0.00 60.00 70.00 100.00 5.00 0.00 0.00 50.00 285.00

4100 Total Rental Incom 103,794.67 105,602.76 110,347.49 116,203.13 126,198.08 130,020.09 130,978.41 137,942.58 137,213.79 135,270.34 140,259.74 141,949.46 1,515,780.54

4300 Maintenance Income (non-posting)

4302 Cleaning 0.00 0.00 0.00 100.00 275.00 2,085.00 1,190.81 760.00 740.00 60.00 75.00 100.00 5,385.81

4304 Damages 15.00 25.00 45.00 0.00 25.00 370.00 505.00 135.00 0.00 0.00 0.00 10.00 1,130.00

4300 Total Maintenance 15.00 25.00 45.00 100.00 300.00 2,455.00 1,695.81 895.00 740.00 60.00 75.00 110.00 6,515.81

4400 Utility Income (non-posting)

4403 Electric (242.84) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (242.84)

4404 Garbage 0.00 0.00 0.00 300.00 145.00 170.00 0.00 0.00 0.00 0.00 0.00 0.00 615.00

4400 Total Utility Incom (242.84) 0.00 0.00 300.00 145.00 170.00 0.00 0.00 0.00 0.00 0.00 0.00 372.16

4600 Bad Debts (non-posting)

6121 Bad Debt Expense (610.00) (664.19) (4,691.65) (7,134.00) (10,839.97) (9,306.00) (7,066.59) (9,082.00) (7,553.00) (4,059.87) (1,099.55) (1,283.71) (63,390.53)

6122 Bad Debt Recove 0.00 0.00 250.00 100.00 0.00 0.00 0.00 250.00 0.00 0.00 0.00 0.00 600.00

4600 Total Bad Debts (n (610.00) (664.19) (4,441.65) (7,034.00) (10,839.97) (9,306.00) (7,066.59) (8,832.00) (7,553.00) (4,059.87) (1,099.55) (1,283.71) (62,790.53)

4900 Other Property Income (non-posting)

4901 Security Deposit F 150.00 382.74 124.17 100.00 0.00 1,955.00 810.00 755.00 1,230.00 640.00 950.00 550.00 7,646.91

4904 Laundry Facilities 488.13 633.47 859.82 295.27 267.55 138.22 239.99 126.14 309.89 360.91 309.51 647.42 4,676.32

4906 Vending Machines 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

4908 Administrative Cha 0.00 0.00 0.00 0.00 15.00 50.00 0.00 0.00 0.00 0.00 240.00 0.00 305.00

4900 Total Other Prope 638.13 1,016.21 983.99 395.27 282.55 2,143.22 1,049.99 881.14 1,539.89 1,000.91 1,499.51 1,197.42 12,628.23

TOTA INCOME 103,594.96 105,979.78 106,934.83 109,964.40 116,085.66 125,482.31 126,657.62 130,886.72 131,940.68 132,271.38 140,734.70 141,973.17 1,472,506.21

EXPENSE

5000 Management Fees 15,569.20 15,840.41 16,555.87 17,430.47 18,929.71 19,504.51 19,646.76 20,691.39 20,582.07 20,290.55 21,038.96 21,292.42 227,372.32

5001 Advertising 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25.00 0.00 0.00 0.00 25.00

5030 Cleaning & Maintenance Expense (non-posting)

5031 Pest Control 0.00 0.00 0.00 0.00 0.00 58.23 0.00 372.06 0.00 0.00 0.00 0.00 430.29

5033 Landscaping 600.00 700.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 600.00 7,300.00

5030 Total Cleaning & M 600.00 700.00 600.00 600.00 600.00 658.23 600.00 972.06 600.00 600.00 600.00 600.00 7,730.29

5050 Insurance Expense (non-posting)

5052 Building Insurance 4,408.91 4,408.91 4,408.91 4,408.91 4,408.91 4,408.91 4,408.91 4,408.91 4,408.91 3,622.02 3,622.02 3,622.02 50,546.25

5053 Liability Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 393.15 393.15 393.15 1,179.45

5056 Ins. Exp. - Umbrel 237.67 237.67 237.67 237.67 237.67 237.67 237.67 237.67 237.67 0.00 0.00 0.00 2,139.03

5050 Total Insurance Ex 4,646.58 4,646.58 4,646.58 4,646.58 4,646.58 4,646.58 4,646.58 4,646.58 4,646.58 4,015.17 4,015.17 4,015.17 53,864.73

5060 Legal and Other Professional Fees (non-posting)

5061 Professional Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5062 Legal Fees 380.00 222.00 0.00 1,552.25 937.25 1,199.00 755.00 733.00 552.00 423.00 232.00 0.00 6,985.50

5063 Licenses/Fees/Pe 981.69 125.24 0.00 0.00 0.00 0.00 0.00 95.82 0.00 371.90 120.00 0.00 1,694.65

5060 Total Legal and O 1,361.69 347.24 0.00 1,552.25 937.25 1,199.00 755.00 828.82 552.00 794.90 352.00 0.00 8,680.15

5100 Maintenance & Supplies Expense (non-posting)

5102 Windows 304.61 695.55 546.05 194.26 587.25 144.34 220.28 1,136.82 630.90 729.29 597.80 25.67 5,812.82

5105 Cleaning 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5110 Plumbing 39.72 27.79 389.16 21.00 0.00 470.90 0.00 73.47 99.78 0.00 0.00 0.00 1,121.82

5112 Maintenance 287.95 1,034.74 1,200.00 0.00 0.00 0.00 (1,906.25) 0.00 1,199.17 0.00 0.00 0.00 1,815.61

5201 Painting Supplies 2,017.01 633.30 591.37 455.05 2,087.56 1,085.96 743.89 1,607.31 414.45 1,951.83 875.85 0.00 12,463.58

5202 Lighting Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5203 Electrical Supplies 0.00 0.00 0.00 0.00 0.00 0.00 0.00 17.30 278.30 189.44 378.88 0.00 863.92

5204 Locks & Keys 0.00 164.75 98.67 22.73 13.80 61.62 0.00 31.50 0.00 0.00 0.00 0.00 393.07

5205 Hardware Supplie 3,194.40 2,531.98 1,508.03 2,648.39 2,789.93 813.28 1,940.77 3,181.34 3,231.08 4,656.67 3,522.59 827.86 30,846.32

5100 Total Maintenance 5,843.69 5,088.11 4,333.28 3,341.43 5,478.54 2,576.10 998.69 6,047.74 5,853.68 7,527.23 5,375.12 853.53 53,317.14

5300 Taxes Expense (non-posting)

5301 Property Taxes 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.63 11,026.00 11,026.00 11,026.00 132,309.15

5300 Total Taxes Expen 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.69 11,025.63 11,026.00 11,026.00 11,026.00 132,309.15

5400 Utilities Expense (non-posting)

5401 Gas & Propane 3,180.35 4,037.18 3,031.08 2,446.81 2,000.90 2,250.81 2,920.96 2,997.69 4,306.59 4,785.06 4,517.64 4,206.57 40,681.64

5402 Water & Sewer 12,977.76 15,272.16 12,552.00 17,617.16 14,212.22 15,656.74 21,134.66 5,934.37 14,230.98 15,863.10 14,962.62 16,472.80 176,886.57

5404 Electric 997.08 913.97 912.14 1,009.03 860.45 897.16 1,022.94 924.48 949.25 1,061.99 1,059.58 1,095.18 11,703.25

5405 Garbage 946.11 946.12 946.11 946.11 946.11 946.11 946.11 946.11 946.11 944.58 946.11 946.11 11,351.80

5400 Total Utilities Expe 18,101.30 21,169.43 17,441.33 22,019.11 18,019.68 19,750.82 26,024.67 10,802.65 20,432.93 22,654.73 21,485.95 22,720.66 240,623.26

5600 Office Expense (non-posting)

5601 Supplies 176.90 159.17 135.39 19.98 17.15 105.81 113.68 0.00 68.29 85.31 0.00 0.00 881.68

5602 Internet Services 30.45 30.45 30.45 30.45 30.45 30.45 30.45 30.45 30.45 30.43 44.40 14.84 363.72

5603 Telephone Service 54.13 54.13 54.13 54.13 54.13 54.14 52.62 54.18 54.18 54.23 54.22 54.09 648.31

5605 Postage 0.00 6.49 0.00 0.00 6.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 12.98

5600 Total Office Expen 261.48 250.24 219.97 104.56 108.22 190.40 196.75 84.63 152.92 169.97 98.62 68.93 1,906.69

TOTA EXPENSE 57,409.63 59,067.70 54,822.72 60,720.09 59,745.67 59,551.33 63,894.14 55,099.56 63,870.81 67,078.55 63,991.82 60,576.71 725,828.73

NOI 46,185.33 46,912.08 52,112.11 49,244.31 56,339.99 65,930.98 62,763.48 75,787.16 68,069.87 65,192.83 76,742.88 81,396.46 746,677.48

SPRING BRANCH RENTALS ‐ UPDATED UNITS AUGUST 2014

MLS No. Pic Status Class Office Address Subdivision NRSF List Price KeyMap Bed Bth $/nrsf Sold DOM

84537754 12 Active Rental VTCR01 1518 EARLY LN T 800 $1,050 451X 2 1 $1.31 11

55765874 13 Active Rental GGPR03 1509 Ronson Spring Oaks 1515 $1,950 451S 3 2 $1.29 48*

32127485 11 Active Rental BLVD01 1406 Caywood Ln Shadyvilla A 1406 $2,000 451X 3 1 $1.42 8

97953763 15 Active Rental CREG01 1410 Antoine Dr Shadyvilla A 1261 $2,400 451x 3 2 $1.90 12

90731094 18 Active Rental DGTY01 1301 Bridle Spu Bridle Spur 1490 $2,500 451W 3 2 $1.68 14

9858954 6 Active Rental NEWU01 1136 OAK TREE D W 1814 $2,600 450X 3 2 $1.43 1*

10351834 15 Active Rental GGPP02 8737 Tollis St Timber Creek 1811 $2,600 450z 3 2 $1.44 27

13440165 16 Active Rental ANNT01 1503 Shady Vill Park/Shady V 2268 $2,600 451X 3 3 $1.15 20

43915236 8 Rented Rental JOAL01 1311 Antoine Woodvine Par 432 $900 451x 1 1 $2.08 $0 37

56423010 7 Rented Rental JOAL01 1311 Antoine Woodvine Par 755 $925 451x 1 1 $1.23 $925 6

40609653 10 Rented Rental MCAR01 1529 WIRT Village Wood 840 $1,000 451x 2 1 $1.19 $1,000 56

67165199 18 Rented Rental CREG01 7210 GARY ST SHADY VILLA 1004 $1,200 451X 2 1 $1.20 $1,200 5

34886673 8 Rented Rental CREG01 1510 Early Craig Woods 838 $1,250 451X 2 1 $1.49 $1,350 9

10973244 13 Rented Rental NTGL01 7007 HOUSMAN ST PINE TERRACE 1000 $1,300 451V 3 1 $1.30 $1,300 9

68266974 7 Rented Rental OLIE01 6625 TELUCO ST TER 1150 $1,350 451Y 2 1 $1.17 $1,350 22

54257577 11 Rented Rental RTOP01 9633 Larston W 1086 $1,375 450X 3 1 $1.27 $1,375 40

95468244 9 Rented Rental PBME01 7010 SCHILLER S PINE TERRACE 1084 $1,450 451Y 3 1 $1.34 $1,450 8

25017766 29 Rented Rental CREG01 1311 Antoine Woodvine Par 1040 $1,600 451X 2 2 $1.54 $1,600 0

22516124 17 Rented Rental SWMP01 6611 HOUSMAN ST TER 1294 $1,650 451Y 4 2 $1.28 $1,650 43

24158468 16 Rented Rental ORTZ01 9710 PINE LAKE W 1322 $1,650 450X 3 1 $1.25 $1,650 8

93888093 10 Rented Rental AMTP01 6610 ROLLA ST TER 1188 $1,750 451Y 3 1 $1.47 $1,700 21

46181935 8 Rented Rental PBME01 8901 BACE DR BONNIE OAKS 1324 $1,995 490d 2 2 $1.51 $1,750 15

4060540 14 Rented Rental UPRE01 1522 CAYWOOD LN SHADY VILLA 1500 $2,095 451X 3 2 $1.40 $2,095 70

71707074 25 Rented Rental KWPT01 8309 Merlin Spring Valle 1559 $2,250 z999 3 1 $1.44 $2,200 31 14526472 20 Rented Rental 1214 E OAK TREE D W 1725 $2,395 450x 3 2 $1.39 $2,395 26*

AVERAGES 1260 $1,753 $1.39

EQUAL HOUSINGOPPO RTU N ITY

Approved by the Texas Real Estate Commission for Voluntary Use

efore working with a real estate broker, you shouldBknow that the duties of a broker depend on whomthe broker represents. If you are a prospectiveseller or landlord (owner) or a prospective buyer or

tenant (buyer), you should know that the broker who liststhe property for sale or lease is the owner’s agent. Abroker who acts as a subagent represents the owner incooperation with the listing broker. A broker who acts asa buyer’s agent represents the buyer. A broker may act asan intermediary between the parties if the partiesconsent in writing. A broker can assist you in locating aproperty, preparing a contract or lease, or obtainingfinancing without representing you. A broker is obligatedby law to treat you honestly.IF THE BROKER REPRESENTS THE OWNER:The broker becomes the owner’s agent by entering into anagreement with the owner, usually through a written -listing agreement, or by agreeing to act as a subagent byaccepting an offer of subagency from the listing broker. Asubagent may work in a different real estate office. Alisting broker or subagent can assist the buyer but doesnot represent the buyer and must place the interests ofthe owner first. The buyer should not tell the owner’sagent anything the buyer would not want the owner toknow because an owner’s agent must disclose to theowner any material information known to the agent.IF THE BROKER REPRESENTS THE BUYER:The broker becomes the buyer’s agent by entering into anagreement to represent the buyer, usually through awritten buyer representation agreement. A buyer’s agentcan assist the owner but does not represent the ownerand must place the interests of the buyer first. The ownershould not tell a buyer’s agent anything the owner wouldnot want the buyer to know because a buyer’s agent mustdisclose to the buyer any material information known to theagent.IF THE BROKER ACTS AS AN INTERMEDIARY:A broker may act as an intermediary between the partiesif the broker complies with The Texas Real Estate License

Act. The broker must obtain the written consent of eachparty to the transaction to act as an intermediary. Thewritten consent must state who will pay the broker and, inconspicuous bold or underlined print, set forth the broker’sobligations as an intermediary. The broker is required totreat each party honestly and fairly and to comply withThe Texas Real Estate License Act. A broker who actsas an intermediary in a transaction:

(1) shall treat all parties honestly; (2) may not disclose that the owner will accept aprice less than the asking price unless authorized inwriting to do so by the owner; (3) may not disclose that the buyer will pay a pricegreater than the price submitted in a written offerunless authorized in writing to do so by the buyer; and(4) may not disclose any confidential information orany information that a party specifically instructs thebroker in writing not to disclose unless authorized inwriting to disclose the information or required to do soby The Texas Real Estate License Act or a courtorder or if the information materially relates to thecondition of the property.

With the parties’ consent, a broker acting as anintermediary between the parties may appoint a person whois licensed under The Texas Real Estate License Actand associated with the broker to communicate with andcarry out instructions of one party and another person whois licensed under that Act and associated with the brokerto communicate with and carry out instructions of theother party.If you choose to have a broker represent you, you should enter into a written agreement with the brokerthat clearly establishes the broker’s obligations and yourobligations. The agreement should state how and bywhom the broker will be paid. You have the right tochoose the type of representation, if any, you wish toreceive. Your payment of a fee to a broker does notnecessarily establish that the broker represents you. If youhave any questions regarding the duties andresponsibilities of the broker, you should resolve thosequestions before proceeding.

Texas Real Estate Brokers and Salespersons are licensed and regulated by the Texas Real Estate Commission (TREC). If you have a questionor complaint regarding a real estate licensee, you should contact TREC at P.O. Box 12188, Austin, Texas 78711-2188 or 512-465-3960.

Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords.

Information About Brokerage Services

Real estate licensee asks that you acknowledge receipt of this information about brokerage services for the licensee’s records.

Buyer, Seller, Landlord or Tenant Date

01A TREC No. OP-K

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