182 E Aparicio Dr N, Tooele UT 84074

182 E Aparicio Dr N, Tooele, UT 84074

Singlefamily: 4 bedrooms , 2.5 bathrooms

Year built: 1999, Size: 2540 SF

Investment strategy: Rental Property

Don't miss out on this adorable 4 bedroom 2 1/2 bathroom two story!! This great move-in-ready home will not disappoint! Great loft area upstairs with master suite and additional 3 bedrooms Basement is 50% finished as a theater room, Room for storage & bath in the rest. Priced to sale with over 2500 square ft!! See 3D Tour below. Square footage figures are provided as a courtesy estimate only and were obtained from county . Buyer is advised to obtain an independent measurement.

Purchase Price$ 449,888

Rent$ 2,250/mo

Monthly Cash Flow$ 459

Cash on Cash Return2.40 %

Financial Analysis

Cash on Cash Return	2.40 %
Internal Rate of Return (IRR)	7.53 %
Capitalization Rate	4.82 %
Gross Rent Multiplier (GRM)	16.66
Debt-coverage Ratio (DCR)	1.34
Operating Expense Ratio (OER)	18.86 %

Financial Breakdown

Purchase Price	$ 449,888
Purchase Costs	$ 4,500
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).	$ 454,388
Financing	$ 224,944
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 229,444
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.	$ 224,944
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.	$ 4,500

Operating Analysis

Rent	$ 2,250/mo
Gross Operating Income (GOI)	$ 26,730
Total Expenses	$ 5,041
Net Operating Income (NOI)	$ 21,689
Annual Debt Service	$ 16,184
Cash Flow Before Taxes (CFBT)	$ 5,505
Income Tax Liability	$ -1,205
Cash Flow After Taxes (CFAT)	$ 6,710

Purchase Price	$ 449,888
Address	182 E Aparicio Dr N , Tooele, 84074, UT
MLS^® #	1824470
Listing Agent	Shane Hughes
Listing Broker	Abundance Realty Group
Year Built	1999
Type	Singlefamily
Size	2540 SF
Bedrooms	4
Bathrooms	2.5

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.	$ 27,000
Total Gross Income	$ 27,000
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.	$ 270
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.	$ 26,730	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).
Property manager	$ 2,379	8.90 %
Repairs	$ 802	3.00 %
Association fees	$ 960	3.59 %
Insurance	$ 900	3.37 %
Total Expenses	$ 5,041	18.86 %
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.	$ 21,689	81.14 %

Cash Flow (Year 1)

Net Operating Income	$ 21,689	81.14 %
Annual Debt Service	$ 16,184	60.55 %
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.	$ 5,505	20.60 %
Income Tax Liability	$ -1,205	-4.51 %
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.	$ 6,710	25.10 %

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).	18.86 %
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.	79.40 %

Financial Measures

Net Present Value Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog. Net Present Value (NPV) Probably the best measure of any investment thanks to its complexity; taking into account all future cash flows including the selling price, and it converts all these amounts to their present values using discount rate required by the investor. More information and an example on the blog.	$ 163,475
Internal Rate of Return Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero. Internal Rate of Return (IRR) Rate which an investment will return over the estimated period of ownership. It is in fact the discount rate that produces NPV of zero.	7.53 %
Profitability Index Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0 Profitability Index Similar to NPV, also calculates with the present values of future cash flows and discount rate. It shows whether the present value of the cash flows is worth the initial investment. Good investment should be above 1.0	1.71
Annual Depreciation	$ 13,088

Holding period of 30 years and discount rate of 5.00% were used for calculation of NPV and IRR. The rest of the financial measures are for the 1st year only and therefore don't provide such an exact information.

Investment Return Ratios

Cash on Cash Return Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money. Cash on Cash Return Ratio between annual cash flow before taxes and the total initial investment, expressed as a percentage. It does not take in account the future value of money.	2.40 %
Return on Investment Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year. Return on Investment Very similar to Cash on Cash Return, but also takes in account appreciation of the property in the first year.	8.28 %
Capitalization Rate Capitalization Rate Calculated as ratio of the net operating income and the value of the property. Capitalization Rate Calculated as ratio of the net operating income and the value of the property.	4.82 %
Gross Rental Yield Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment. Gross Rental Yield Used for a particular property or also as a market indicator when using median values of rent and house prices - counted from gross scheduled rent and initial investment.	6.00 %
Gross Rent Multiplier Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income. Gross Rent Multiplier (GRM) Counted as a ratio of market value of the property and gross scheduled income.	16.66

Financing
Down Payment		$ 224,944
conventional		$ 224,944
Loan to Value Ratio Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price. Loan to Value Ratio Shows sum of all purchase and rehab loans divided by purchase price.		50.00 %
Loan to Cost Ratio Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs). Loan to Cost Ratio Shows sum of all purchase and rehab loans to construction cost (purchase price + repairs).		50.00 %
Debt Coverage Ratio		1.34

conventional Financing of: Purchase price ($ 449,888)
Type	Amortized
Loan Amount	$ 224,944
Down payment (50%)	$ 224,944
Amortization	30 years
Interest Rate	6.00 %
Monthly Payment	$ 1,348.65

This chart shows the process of accumulation of investor's equity. There is some equity created right at the beginning with the rehab/construction and later investor's equity is rising by paying off the principal of the loan and also by appreciation over the years. All the green parts is the cummulative equity belonging to the investor and the red part belongs to the lender.

Year	0	1	2	3	4	5	6	7	8	9	10	11	12	13	14	15	16	17	18	19	20	21	22	23	24	25	26	27	28	29	30
Operational Analysis
Gross Scheduled Income	0	27,000	27,540	28,091	28,653	29,226	29,810	30,406	31,015	31,635	32,268	32,913	33,571	34,243	34,927	35,626	36,338	37,065	37,807	38,563	39,334	40,121	40,923	41,741	42,576	43,428	44,296	45,182	46,086	47,008	47,948
Vacancy Loss	0	270	275	281	287	292	298	304	310	316	323	329	336	342	349	356	363	371	378	386	393	401	409	417	426	434	443	452	461	470	479
Gross Operating Income	0	26,730	27,265	27,810	28,366	28,933	29,512	30,102	30,704	31,318	31,945	32,584	33,235	33,900	34,578	35,270	35,975	36,695	37,428	38,177	38,941	39,719	40,514	41,324	42,151	42,994	43,853	44,730	45,625	46,538	47,468
Expenses	0	5,041	5,142	5,245	5,349	5,456	5,566	5,677	5,790	5,906	6,024	6,145	6,268	6,393	6,521	6,651	6,784	6,920	7,058	7,200	7,344	7,490	7,640	7,793	7,949	8,108	8,270	8,436	8,604	8,776	8,952
Net Operating Income	0	21,689	22,123	22,565	23,017	23,477	23,947	24,425	24,914	25,412	25,921	26,439	26,968	27,507	28,057	28,618	29,191	29,775	30,370	30,977	31,597	32,229	32,873	33,531	34,202	34,886	35,583	36,295	37,021	37,761	38,517
Loan Payment	0	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184	16,184
Payment Interest Part	0	13,421	13,251	13,070	12,878	12,674	12,458	12,228	11,984	11,725	11,450	11,158	10,848	10,519	10,170	9,799	9,405	8,987	8,543	8,071	7,571	7,040	6,476	5,877	5,242	4,567	3,850	3,089	2,282	1,424	514
Payment Principal Part	0	2,762	2,933	3,114	3,306	3,510	3,726	3,956	4,200	4,459	4,734	5,026	5,336	5,665	6,014	6,385	6,779	7,197	7,641	8,112	8,613	9,144	9,708	10,307	10,942	11,617	12,334	13,094	13,902	14,760	15,670
Cash Flow
Repairs/Construction	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-229,444	5,505	5,939	6,382	6,833	7,293	7,763	8,242	8,730	9,228	9,737	10,255	10,784	11,323	11,873	12,435	13,007	13,591	14,186	14,794	15,413	16,045	16,690	17,347	18,018	18,702	19,399	20,111	20,837	21,577	22,333
Depreciation	0	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088	13,088
Taxes	0	-1,205	-1,054	-898	-737	-571	-400	-223	-40	150	346	548	758	975	1,200	1,433	1,674	1,925	2,185	2,454	2,734	3,025	3,327	3,641	3,968	4,308	4,661	5,029	5,413	5,812	6,229
Cash Flow After Taxes	-229,444	6,710	6,993	7,280	7,570	7,865	8,163	8,464	8,770	9,079	9,391	9,707	10,026	10,348	10,673	11,002	11,332	11,666	12,001	12,339	12,679	13,020	13,362	13,706	14,050	14,394	14,738	15,082	15,424	15,765	16,104

Note: All amounts in the table above are in $

Resale Price Evaluation Methods

The property is sold after 30 years. Below is the resale price calculated using different methods.

Appreciation (3.00%)	$ 1,091,996
Cap Rate (4.82%) & NOI	$ 799,098
Gross Rent Multiplier	$ 798,811

Sale Proceeds

Projected Selling Price	$ 1,091,996
Costs of Sale (6.00%)	$ 65,520
Net Sale Proceeds Before Tax	$ 1,026,476

In the resale analysis we do not include any calculation for taxes that might be owed on sale of the property. The tax laws for the resale are rather complex and subjected to frequent changes.

Net Assets and Yield

Net Assets
Sale Proceeds Before Tax	$ 1,026,476
Investor Cash Outlay	$ 229,444
Net Assets	$ 797,032
Average Yield
Annual Net Assets	$ 26,568
Average Cash Flow (After Taxes)	$ 10,720
Average Annual Gain (After Taxes)	$ 37,288
Average Annual Yield (After Taxes)	8.29 %

This charts shows Net Present Value (NPV) when property is sold in various years, i.e. when sold in 5th year, the NPV is calculated from 5 years of Cash Flow (including the selling price) and this NPV is displayed in year 5. Optimal holding period can be estimated, using this method - when NPV is the highest. Please note that appreciation growth can change these numbers greatly. It sometimes makes sense to sell the property even before the end of the mortgage term.

Property Report: 182 E Aparicio Dr N, Tooele RENTAL

Property Report :

182 E Aparicio Dr N, Tooele, UT 84074

Executive Summary