Property Report :

1521 Lenox Ave #105

1521 Lenox Ave Apt 105, Miami Beach, FL 33139

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Real Estate Analysis

Created on: Apr 15, 2025

Author: Jester Nino

1521 Lenox Ave Apt 105, Miami Beach, FL 33139

Condominium: , 1 bathroom

Year built: 1925, Size: 448 SF

Investment strategy: Rental Property

Purchase Price$ 245,000

Rent$ 2,000/mo

Monthly Cash Flow$ 312

Cash on Cash Return3.40 %

Financial Analysis

Cash on Cash Return	3.40 %
Internal Rate of Return (IRR)	7.60 %
Capitalization Rate	5.91 %
Gross Rent Multiplier (GRM)	10.21
Debt-coverage Ratio (DCR)	1.35
Operating Expense Ratio (OER)	39.62 %

Financial Breakdown

Purchase Price	$ 245,000
Purchase Costs	$ 12,250
Repair/Construction Costs	$ 0
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 257,250
Financing	$ 147,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 110,250
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 98,000
Cash During Rehab Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction. Cash During Rehab Shows the cash amount remaining to fund the purchase and rehab/construction.	$ 12,250

Operating Analysis

Rent	$ 2,000/mo
Gross Operating Income (GOI)	$ 24,000
Total Expenses	$ 9,509
Net Operating Income (NOI)	$ 14,491
Annual Debt Service	$ 10,747
Cash Flow Before Taxes (CFBT)	$ 3,744
Income Tax Liability	$ -407
Cash Flow After Taxes (CFAT)	$ 4,151

Annual Property Operating Data

Incomes		% of GOI
Gross Scheduled Income Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents. Gross Scheduled Income (GSI) Represents the total of monthly rents for the particular property, including the potential rents from vacant units and uncollectable rents.	$ 24,000
Total Gross Income	$ 24,000
Vacancy loss Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants. Vacancy and Credit Loss Part of the potential rental income that is lost because of unoccupied units or uncollectable rent from tenants.	$ 0
Gross Operating Income Gross Operating Income (GOI) An actual income which is expected to be collected in the property. Gross Operating Income (GOI) An actual income which is expected to be collected in the property.	$ 24,000	100.00 %
Expenses Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation). Operating Expenses Expenses necessary for maintaining the property and ensuring its continued ability to produce income (doesn't include mortgage payments or depreciation).
Realtor	$ 2,000	8.33 %
Association fees	$ 3,936	16.40 %
Property tax	$ 2,469	10.29 %
Insurance	$ 1,104	4.60 %
Total Expenses	$ 9,509	39.62 %
Net Operating Income Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses. Net Operating Income (NOI) Important measurement calculated as gross operating income minus operating expenses.	$ 14,491	60.38 %

Cash Flow (Year 1)

Net Operating Income	$ 14,491	60.38 %
Annual Debt Service	$ 10,747	44.78 %
Cash Flow Before Taxes (CFBT) Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash for a certain property (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 3,744	15.60 %
Income Tax Liability	$ -407	-1.70 %
Cash Flow After Taxes (CFAT) Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property. Cash Flow All the inflows and outflows of cash (including mortgage payments). We can calculate cash flow before taxes (CFBT) or cash flow after taxes (CFAT) which is CFBT minus any tax liability arising from the operation of the property.	$ 4,151	17.30 %

Operating Ratios

Operating Expense Ratio Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI). Operating Expense Ratio Ratio of the operating expenses to the gross operating income (GOI).	39.62 %
Break-Even Ratio Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less. Break-Even Ratio (BER) Another benchmark used by mortgage lenders, estimating how vulnerable is a certain property to defaulting on its mortgage if part of the rental income is declined. Most of the lenders are looking for BER of 85% or less.	84.40 %

Year	0	1	2	3	4	5
Operational Analysis
Gross Scheduled Income	0	24,000	24,480	24,970	25,469	25,978
Vacancy Loss	0	0	0	0	0	0
Gross Operating Income	0	24,000	24,480	24,970	25,469	25,978
Expenses	0	9,509	9,699	9,893	10,091	10,293
Net Operating Income	0	14,491	14,781	15,076	15,378	15,686
Loan Payment	0	10,747	10,747	10,747	10,747	10,747
Payment Interest Part	0	8,992	8,881	8,762	8,637	8,503
Payment Principal Part	0	1,755	1,866	1,984	2,110	2,243
Cash Flow
Repairs/Construction	0	0	0	0	0	0
Cash Flow Before Taxes	-110,250	3,744	4,034	4,330	4,631	4,939
Depreciation	0	7,127	7,127	7,127	7,127	7,127
Taxes	0	-407	-307	-203	-96	14
Cash Flow After Taxes	-110,250	4,151	4,341	4,533	4,728	4,925

Note: All amounts in the table above are in $

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