Property Report :

Brush Praire 1

19012 NE 139th St, Brush Prairie, WA 98606

Real Estate Analysis

Created on: Apr 16, 2025

Author: Joshua Vukelich

19012 NE 139th St, Brush Prairie, WA 98606

Singlefamily: 5 bedrooms , 3.5 bathrooms

Year built: 1985, Size: 2972 SF

Investment strategy: Rental Property

Purchase Price$ 645,000

Rent$ 3,300/mo

Monthly Cash Flow$ -102

Cash on Cash Return-0.15 %

Financial Analysis

Cash on Cash Return	-0.15 %
Internal Rate of Return (IRR)	7.70 %
Capitalization Rate	1.22 %
Gross Rent Multiplier (GRM)	45.45
Debt-coverage Ratio (DCR)	0.95
Operating Expense Ratio (OER)	34.51 %
After Repair Value	$ 1,800,000
Profit/Equity From Rehab	$ 567,400

Financial Breakdown

Purchase Price	$ 645,000
Purchase Costs	$ 0
Repair/Construction Costs	$ 587,600
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 1,232,600
Financing	$ 425,138
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 807,462
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.	$ 0
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.	$ 807,462

Operating Analysis

Rent	$ 3,300/mo
Gross Operating Income (GOI)	$ 33,660
Total Expenses	$ 11,617
Net Operating Income (NOI)	$ 22,043
Annual Debt Service	$ 23,266
Cash Flow Before Taxes (CFBT)	$ -1,223
Income Tax Liability	$ -3,000
Cash Flow After Taxes (CFAT)	$ 1,777

19012 Ne 139th St, Brush Prairie, WA 98606 is a single family home built in 1985. This property was last sold for $645,000 in 2019 and currently has an estimated value of $815,600. According to the Brush Prairie public records, the property at 19012 Ne 139th St, Brush Prairie, WA 98606 has approximately 2972 square feet, 5 beds, 3 full and 1 half baths with a lot size of 7.00 acres. Nearby schools include Hockinson High School and Hockinson Middle School.

Purchase Price	$ 645,000
Address	19012 NE 139th St , Brush Prairie, 98606, WA
Listing Agent	Fiona Fu
Listing Broker	Mal & Seitz
Year Built	1985
Type	Singlefamily
Size	2972 SF
Bedrooms	5
Bathrooms	3.5

Property History

Date	Price	Change	Event
8/7/2019
2/22/2019
7/5/2018
5/11/2018
5/7/2018
5/1/2018
4/2/2018
3/31/2018
1/5/2018
11/3/2017
10/25/2017
10/2/2017
7/7/2017
4/27/2012
1/3/2012
10/27/2011
9/12/2011
3/24/2011
8/19/1981

Breakdown by Scope of Work

Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	$ 55,000	Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	$ 35,000	Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	$ 25,000	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	$ 17,000
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	$ 35,000	Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	$ 3,000	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	$ 27,000	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	$ 5,500
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	$ 55,000	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	$ 25,000	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	$ 3,600
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	$ 55,000	Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	$ 5,000	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	$ 15,000	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	$ 12,000
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	$ 12,000	Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	$ 25,000	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	$ 75,000	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	$ 2,500
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	$ 25,000	Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	$ 50,000	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	$ 25,000
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	$ 55,000	Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	$ 55,000	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	$ 75,000
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	$ 35,000	Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	$ 5,000	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	$ 25,000
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	$ 25,000	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	$ 17,000
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	$ 55,000	Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	$ 50,000	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	$ 5,500
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	$ 12,000	Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	$ 25,000	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	$ 3,600
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	$ 25,000	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	$ 27,000	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	$ 12,000
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	$ 35,000	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	$ 25,000	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	$ 2,500
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	$ 3,000	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	$ 15,000
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	$ 55,000	Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	$ 25,000
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	$ 35,000	HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	$ 27,000
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A	Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	$ 25,000
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	$ 55,000	Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	$ 15,000
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	$ 12,000	Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	$ 75,000
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	$ 25,000	Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	$ 25,000
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	$ 35,000	Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	$ 17,000
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	$ 3,000	Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	$ 5,500
Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	$ 55,000	Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	$ 3,600
Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	$ 5,000	Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	$ 12,000
Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	$ 25,000	Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	$ 2,500
Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	$ 50,000
Foundation Foundation Includes excavation, foundation, structural concrete. Foundation Includes excavation, foundation, structural concrete.	$ 55,000
Concrete Concrete Includes conrete and flatwork such as asphalt and pavers. Concrete Includes conrete and flatwork such as asphalt and pavers.	$ 35,000
Masonry Masonry Includes natural stone, bricks, chimney repairs. Masonry Includes natural stone, bricks, chimney repairs.	N/A
Siding & Paint Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting. Siding & Paint Includes vinyl, fiber cement, wood siding or exterior painting.	$ 55,000
Decks & Porches Decks & Porches Includes decking, patios, porches and railing. Decks & Porches Includes decking, patios, porches and railing.	$ 12,000
Roofing Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement. Roofing Includes roof materials, gutters, soffits, fascias repairs or replacement.	$ 25,000
Doors & Windows Doors & Windows Includes exterior doors, windows, screens, skylights. Doors & Windows Includes exterior doors, windows, screens, skylights.	$ 35,000
Garage Garage Includes garage doors and repairs. Garage Includes garage doors and repairs.	$ 3,000
Landscaping Landscaping Includes landscaping, fencing, ext. structures, pools. Landscaping Includes landscaping, fencing, ext. structures, pools.	$ 55,000
Demolition Demolition Includes room and building demolition, asbestos and mold abatement. Demolition Includes room and building demolition, asbestos and mold abatement.	$ 5,000
Framing & Drywall Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing. Framing & Drywall Includes framing, insulation, walls/ceiling drywall and texturing.	$ 25,000
Electrical Electrical Includes various electrical repairs, light fixtures, smoke detectors. Electrical Includes various electrical repairs, light fixtures, smoke detectors.	$ 50,000
Plumbing Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets. Plumbing Includes kitchen and bathroom faucets, bathtubs, shower stalls and toilets.	$ 25,000
HVAC HVAC Includes replacement of AC units, air-grilles, heaters. HVAC Includes replacement of AC units, air-grilles, heaters.	$ 27,000
Tiling Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling. Tiling Includes tiles and backsplashes in kitchen, bathroom and fireplace tiling.	$ 25,000
Doors & Trim Doors & Trim Includes interior and closet doors, crown molding and trims. Doors & Trim Includes interior and closet doors, crown molding and trims.	$ 15,000
Flooring Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing Flooring Includes carpeting, sheet vinyl, vinyl tiles, laminate, hardwood flooring and refinishing	$ 75,000
Cabinets Cabinets Includes countertops, cabinets in kitchen and bathrooms. Cabinets Includes countertops, cabinets in kitchen and bathrooms.	$ 25,000
Painting Painting Includes interior painting of walls, doors & frames. Painting Includes interior painting of walls, doors & frames.	$ 17,000
Appliances Appliances Includes refrigerators, ranges, dishwashers, microwaves Appliances Includes refrigerators, ranges, dishwashers, microwaves	$ 5,500
Dumpster Dumpster Includes dumpster rental, storage container, etc. Dumpster Includes dumpster rental, storage container, etc.	$ 3,600
Permits & Fees Permits & Fees Includes building permits, architect and engineering fees. Permits & Fees Includes building permits, architect and engineering fees.	$ 12,000
Miscellaneous Miscellaneous Includes fuel/gas expense, final cleaning. Miscellaneous Includes fuel/gas expense, final cleaning.	$ 2,500
								Total Rehab Estimate	$ 587,600

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.	$ 39,600
Total Gross Income	$ 39,600
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.	$ 5,940
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.	$ 33,660	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).
Utilities	$ 2,640	7.84 %
Insurance	$ 1,800	5.35 %
Property tax	$ 7,177	21.32 %
Total Expenses	$ 11,617	34.51 %
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.	$ 22,043	65.49 %

Cash Flow (Year 1)

Net Operating Income	$ 22,043	65.49 %
Annual Debt Service	$ 23,266	69.12 %
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.	$ -1,223	-3.63 %
Income Tax Liability	$ -3,000	-8.91 %
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.	$ 1,777	5.28 %

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).	34.51 %
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.	103.63 %

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.	$ 366,925
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.	7.70 %
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	1.45
Annual Depreciation	$ 18,764

Holding period of 15 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.	-0.15 %
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.	2.24 %
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.	1.22 %
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.	6.14 %
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.	45.45

Financing		% of ARV
Down Payment	$ 0	0.00 %
Wells Fargo Conentional	$ 425,138	23.62 %
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.		65.91 %
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).		34.49 %
Debt Coverage Ratio		0.95

Wells Fargo Conentional Financing of: Specific amount ($ 425,138)
Type	Amortized
Loan Amount	$ 425,138
Down payment (0%)	$ 0
Amortization	30 years
Interest Rate	3.63 %
Monthly Payment	$ 1,938.85

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
Operational Analysis
Gross Scheduled Income	0	39,600	40,392	41,200	42,024	42,864	43,722	44,596	45,488	46,398	47,326	48,272	49,238	50,222	51,227	52,251
Vacancy Loss	0	5,940	6,059	6,180	6,304	6,430	6,558	6,689	6,823	6,960	7,099	7,241	7,386	7,533	7,684	7,838
Gross Operating Income	0	33,660	34,333	35,020	35,720	36,435	37,163	37,907	38,665	39,438	40,227	41,031	41,852	42,689	43,543	44,414
Expenses	0	11,617	11,849	12,086	12,328	12,575	12,826	13,083	13,344	13,611	13,883	14,161	14,444	14,733	15,028	15,328
Net Operating Income	0	22,043	22,484	22,934	23,392	23,860	24,337	24,824	25,320	25,827	26,343	26,870	27,408	27,956	28,515	29,085
Loan Payment	0	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266	23,266
Payment Interest Part	0	15,279	14,985	14,680	14,363	14,035	13,695	13,342	12,976	12,597	12,204	11,796	11,373	10,935	10,481	10,009
Payment Principal Part	0	7,987	8,281	8,586	8,903	9,231	9,571	9,924	10,290	10,669	11,062	11,470	11,893	12,331	12,786	13,257
Cash Flow
Repairs/Construction	587,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flow Before Taxes	-807,462	-1,223	-782	-333	126	594	1,071	1,558	2,054	2,561	3,077	3,604	4,142	4,690	5,249	5,819
Depreciation	0	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764	18,764
Taxes	0	-3,000	-2,816	-2,628	-2,434	-2,235	-2,030	-1,821	-1,605	-1,384	-1,156	-922	-682	-436	-182	78
Cash Flow After Taxes	-807,462	1,777	2,034	2,295	2,560	2,829	3,102	3,378	3,659	3,944	4,233	4,527	4,824	5,125	5,431	5,741

Note: All amounts in the table above are in $

Resale Price Evaluation Methods

The property is sold after 15 years. Below is the resale price calculated using different methods.

Appreciation (3.00%)	$ 2,804,341
Cap Rate (1.22%) & NOI	$ 2,384,039
Gross Rent Multiplier	$ 2,374,824

Sale Proceeds

Projected Selling Price	$ 2,804,341
Costs of Sale (6.00%)	$ 168,260
1. Loan Balance Payoff	$ 268,897
Net Sale Proceeds Before Tax	$ 2,367,183

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	$ 2,367,183
Investor Cash Outlay	$ 807,462
Net Assets	$ 1,559,721
Average Yield
Annual Net Assets	$ 103,981
Average Cash Flow (After Taxes)	$ 3,315
Average Annual Gain (After Taxes)	$ 107,296
Average Annual Yield (After Taxes)	16.64 %

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: Brush Praire 1 RENTAL

Property Report :

Brush Praire 1

19012 NE 139th St, Brush Prairie, WA 98606

Executive Summary

19012 NE 139th St, Brush Prairie, WA 98606

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Rehab

Cash During Rehab

Operating Analysis

Property Description

Property History

Rehab Estimates

Breakdown by Scope of Work

Foundation

Foundation

Doors & Windows

Doors & Windows

Plumbing

Plumbing

Painting

Painting

Concrete

Concrete

Garage

Garage

HVAC

HVAC

Appliances

Appliances

Masonry

Masonry

Landscaping

Landscaping

Tiling

Tiling

Dumpster

Dumpster

Siding & Paint

Siding & Paint

Demolition

Demolition

Doors & Trim

Doors & Trim

Permits & Fees

Permits & Fees

Decks & Porches

Decks & Porches

Framing & Drywall

Framing & Drywall

Flooring

Flooring

Miscellaneous

Miscellaneous

Roofing

Roofing

Electrical

Electrical

Cabinets

Cabinets

Foundation

Foundation

Landscaping

Landscaping

Flooring

Flooring

Concrete

Concrete

Demolition

Demolition

Cabinets

Cabinets

Masonry