Overview

Lease and Income Structure

Property Financials

Bed Data

Total Beds 43.6

Vacancy Rate (estimated) 20%

House Mentors 3.6

Revenue-Producing Beds 31.40

Weekly Rent $175.00

Intake Fee $200.00

Revenue (Annual)

Total Potential Rent Income $396,760.00

Less: Vacancy & Loss $79,352.00

Less: Mentor Rent Credit $32,760.00

Plus: Intake Fee Revenue $14,000.00

Plus: Laundry Service Revenue $7,280.00

Total Revenue $305,928.00

Expenses (Annual)

Operating Expenses $54,570.00

Property Insurance $2,600.00

Operator Compensation $24,000.00

Valuation

Capitalization Rate 8.50%

Work Needed

Planned: keep 22 bedrooms with two beds in the larger rooms (30 beds total); add two full bathrooms (8 total) and a second kitchen; update the basement gym, recreation area and coin-operated laundry; improve the courtyard. Systems: reroute and pressure-test plumbing (frozen/cracked PEX), activate and test boiler and hot water, inspect and update two older electrical panels, professional test of the existing fire alarm. Budget $150,000.