Andy's Test Property
For sale4776 Wilson Ave, San Diego, CA 92116
$2,200,0008 units
Multifamily
| metric | current | proforma |
|---|---|---|
| CAPCAP rateCapitalization rateThe cap rate is calculated by dividing net operating income by property value, showing the potential return on a real estate investment as a percentage. While useful for comparing similar investments, it doesn't consider leverage, time value of money, or future cash flows from improvements. We calculate current CAP rate using current property value and NOI calculated as last month’s NOI times 12. Pro-forma CAP rate is calculated using current property value and NOI for the next 12 months (including rent growth rates, OE growth rates, and the period of rent stabilization).Optimal valueLower cap rates (e.g., 3% - 5%) typically suggest lower risk and often correspond to "prime" real estate with strong growth prospects. Mid-range cap rates (e.g., 6% - 8%) might represent a balanced risk/return profile. Higher cap rates (e.g., 9% - 12% or more) could indicate potentially higher annual returns but also higher risks. | 4.87% | 6.27% |
| GRMGRMGross Rent MultiplierThe GRM values a property based on annual rent, offering a quick way to assess its investment worth. However, this doesn't account for taxes or expenses like insurance and utilities as GRM uses gross income as opposed to NOI.Optimal valueA suitable GRM depends heavily on your property's rental market. Aim for a GRM between 4 and 13 for quicker payoffs. | 12.29 | 10.47 |
| Cash-on-CashCoCCash on cashA cash-on-cash return is a rate of return often used in real estate transactions that calculates the cash income earned on the cash invested in a property. Cash-on-cash return measures the annual return the investor made on the property in relation to the amount of mortgage paid during the same year.whereAPTCF = (GSR + OI) - (V + OE + AMP)GSR = Gross scheduled rentOI = Other incomeV = VacancyOE = Operating expensesAMP = Annual mortgage paymentsOptimal valueHistorically, many real estate investors aim for a CoC return in the range of 8% to 12%. However, in riskier or less mature markets, investors might expect a CoC of 15% or higher to compensate for the increased risk. In very stable or competitive markets, a CoC return might be lower, even 5% or less, especially if the investor is banking more on property appreciation than on immediate cash flow. | 2.2% | 5.12% |
| YoCYoCYield on CostYield on cost is a measure of the return on investment of a property. It is calculated by dividing the net operating income by the total project cost. | -- | 6.27% |
| Upside | -- | 17.31% |
Acquisition & Sale
| Hold term | 1 year |
|---|---|
| Acquisition date | 6/3/2026 |
| Total cash to close | Detailed cash to closeDown payment$975,644Loan fees$0Acquisition fee--Closing costs acquisition--$975,644 |
| Total acquisition costs | Detailed acquisition costsDown payment$975,644Loan amount$1.22MLoan fees$0Working capital$0Acquisition fee--Closing costs acquisition--$2.2M |
Rent roll
| Multifamily | ||||||||
|---|---|---|---|---|---|---|---|---|
| unit # | unit type | SF | current | current/SF | annual current | proforma | proforma/SF | annual proforma |
| Unit mix 1 | 2BR/1BA | 846 | $1,155 | $1.37 | $13,860 | $2,250 | $2.66 | $27,000 |
| Unit mix 2 | 2BR/1BA | 846 | $2,003 | $2.37 | $24,036 | $2,250 | $2.66 | $27,000 |
| Unit mix 3 | 2BR/1BA | 846 | $2,014 | $2.38 | $24,168 | $2,250 | $2.66 | $27,000 |
| Unit mix 4 | 2BR/1BA | 846 | $2,109 | $2.49 | $25,308 | $2,250 | $2.66 | $27,000 |
| AVERAGES | 2BR/1BA | 846 | $1,917 | $2.27 | $23,006 | $2,250 | $2.66 | $27,000 |
| 8 units | 16BR/8BA | 6,768 | $15,337 | $184,044 | $18,000 | $216,000 | ||
Average rent per unit type
| Series | Category | Value |
|---|---|---|
| Current rent | 2 bedrooms | $1,820 |
| Proforma rent | 2 bedrooms | $2,250 |
Operating proforma
| Current | Per Unit8 units | Per SF6,768 SF | % GOI | Proforma | Per Unit8 units | Per SF6,768 SF | % GOI | |
|---|---|---|---|---|---|---|---|---|
| INCOME | ||||||||
| Multifamily | ||||||||
| Gross Multifamily Rental Revenue | $184,044 | $23,006 | $27.19 | 106.05% | $216,000 | $27,000 | $31.91 | 106.1% |
| Vacancy | $5,521 | $690 | $0.82 | 3.18% | $6,480 | $810 | $0.96 | 3.18% |
| Effective Multifamily Rental Revenue | $178,523 | $22,315 | $26.38 | 102.86% | $209,520 | $26,190 | $30.96 | 102.91% |
| Other Income | ||||||||
| Vacancy | -$5,521 | -$690 | -$0.82 | -3.18% | -$6,480 | -$810 | -$0.96 | -3.18% |
| Other Income | $550 | $69 | $0.08 | 0.32% | $550 | $69 | $0.08 | 0.27% |
| Total other income | -$4,971 | -$621 | -$0.73 | -2.86% | -$5,930 | -$741 | -$0.88 | -2.91% |
| Gross Operating Income | $173,551 | $21,694 | $25.64 | 100% | $203,590 | $25,449 | $30.08 | 100% |
| EXPENSES | ||||||||
| Direct Assessments | $3,558 | $445 | $0.53 | 2.05% | $3,558 | $445 | $0.53 | 1.75% |
| Insurance | $8,122 | $1,015 | $1.20 | 4.68% | $8,122 | $1,015 | $1.20 | 3.99% |
| Utilities | $8,400 | $1,050 | $1.24 | 4.84% | $8,400 | $1,050 | $1.24 | 4.13% |
| Maint.& Rep. | $5,600 | $700 | $0.83 | 3.23% | $5,600 | $700 | $0.83 | 2.75% |
| On Site Mgmt | $0 | $0 | $0.00 | 0% | $0 | $0 | $0.00 | 0% |
| Off-Site Mgmt | $8,954 | $1,119 | $1.32 | 5.16% | $10,504 | $1,313 | $1.55 | 5.16% |
| Legal/Prof Svcs | $1,400 | $175 | $0.21 | 0.81% | $1,400 | $175 | $0.21 | 0.69% |
| Gen. Admin. | $1,000 | $125 | $0.15 | 0.58% | $1,000 | $125 | $0.15 | 0.49% |
| Landscaping | $1,200 | $150 | $0.18 | 0.69% | $1,200 | $150 | $0.18 | 0.59% |
| Misc. & Reserves | $1,600 | $200 | $0.24 | 0.92% | $1,600 | $200 | $0.24 | 0.79% |
| Property Taxes | $26,543 | $3,318 | $3.92 | 15.29% | $26,543 | $3,318 | $3.92 | 13.04% |
| Total operating expenses | $66,376 | $8,297 | $9.81 | 38.25% | $67,926 | $8,491 | $10.04 | 33.36% |
| NET OPERATING INCOME | $107,175 | $13,397 | $15.84 | 61.75% | $135,664 | $16,958 | $20.04 | 66.64% |
Annual Operating stats
| Series | Category | Value |
|---|---|---|
| Gross rental income | Current | $184,044 |
| Gross rental income | Proforma | $216,000 |
| Other income | Current | -$4,971 |
| Other income | Proforma | -$5,930 |
| Direct Assessments | Current | $3,558 |
| Direct Assessments | Proforma | $3,558 |
| Insurance | Current | $8,122 |
| Insurance | Proforma | $8,122 |
| Utilities | Current | $8,400 |
| Utilities | Proforma | $8,400 |
| Maint.& Rep. | Current | $5,600 |
| Maint.& Rep. | Proforma | $5,600 |
| On Site Mgmt | Current | $0 |
| On Site Mgmt | Proforma | $0 |
| Off-Site Mgmt | Current | $8,954 |
| Off-Site Mgmt | Proforma | $10,504 |
| Legal/Prof Svcs | Current | $1,400 |
| Legal/Prof Svcs | Proforma | $1,400 |
| Gen. Admin. | Current | $1,000 |
| Gen. Admin. | Proforma | $1,000 |
| Landscaping | Current | $1,200 |
| Landscaping | Proforma | $1,200 |
| Misc. & Reserves | Current | $1,600 |
| Misc. & Reserves | Proforma | $1,600 |
| Property Taxes | Current | $26,543 |
| Property Taxes | Proforma | $26,543 |
Operating projections
| Current | Proforma Y1 | |
|---|---|---|
| Gross Rental Revenue | $184,044 | $218,954 |
| Total Rental Loss | $5,521 | $6,569 |
| Effective Rental Revenue | $178,523 | $212,386 |
| Vacancy | -$5,521 | -$6,598 |
| Other Income | $550 | $560 |
| Total Other Income | -$4,971 | -$6,038 |
| Gross Operating Income | $173,551 | $206,348 |
| Direct Assessments | $3,558 | $3,607 |
| Insurance | $8,122 | $8,233 |
| Utilities | $8,400 | $8,515 |
| Maint.& Rep. | $5,600 | $5,677 |
| Off-Site Mgmt | $8,954 | $10,647 |
| Legal/Prof Svcs | $1,400 | $1,419 |
| Gen. Admin. | $1,000 | $1,014 |
| Landscaping | $1,200 | $1,216 |
| Misc. & Reserves | $1,600 | $1,622 |
| Taxes | $26,543 | $26,543 |
| Total Operating Expenses | $66,376 | $68,492 |
| Net Operating Income | $107,175 | $137,855 |
| Cash Flow before Debt Service | $107,175 | $137,855 |
| Debt Service | -- | $85,740 |
| Cash Flow after Debt Service | -- | $52,115 |
| Principal Reduction | -- | $15,750 |
Cash flow & Debt
| Current | AcquisitionJun 30, 2026 | 07/20261m 1Y | 08/20262m 1Y | 09/20263m 1Y | 10/20264m 1Y | 11/20265m 1Y | 12/20266m 1Y | 01/20277m 1Y | 02/20278m 1Y | 03/20279m 1Y | 04/202710m 1Y | 05/202711m 1Y | 06/202712m 1Y | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NET INCOME | ||||||||||||||
| Gross Potential Rent | $15,337 | $18,000 | $18,044 | $18,089 | $18,134 | $18,178 | $18,223 | $18,268 | $18,313 | $18,358 | $18,403 | $18,449 | $18,494 | |
| Vacancy | $460 | $540 | $541 | $543 | $544 | $545 | $547 | $548 | $549 | $551 | $552 | $553 | $555 | |
| Renovation Vacancy | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Total Vacancy | $460 | $540 | $541 | $543 | $544 | $545 | $547 | $548 | $549 | $551 | $552 | $553 | $555 | |
| Effective Rental Revenue | $14,877 | $17,460 | $17,503 | $17,546 | $17,590 | $17,633 | $17,676 | $17,720 | $17,764 | $17,807 | $17,851 | $17,895 | $17,940 | |
| Total Other Income | -$414 | -$494 | -$496 | -$497 | -$499 | -$501 | -$502 | -$504 | -$506 | -$507 | -$509 | -$511 | -$512 | |
| Gross Operating Income | $14,463 | $16,966 | $17,007 | $17,049 | $17,090 | $17,132 | $17,174 | $17,216 | $17,258 | $17,300 | $17,342 | $17,385 | $17,427 | |
| EXPENSES | ||||||||||||||
| Total Operating Expenses | $5,531 | $5,661 | $5,669 | $5,678 | $5,686 | $5,695 | $5,703 | $5,712 | $5,720 | $5,729 | $5,738 | $5,747 | $5,755 | |
| % of GOI | 38.25% | 33.36% | 33.33% | 33.3% | 33.27% | 33.24% | 33.21% | 33.18% | 33.15% | 33.12% | 33.09% | 33.05% | 33.02% | |
| NET OPERATING INCOME | $8,931 | $11,305 | $11,338 | $11,371 | $11,404 | $11,438 | $11,471 | $11,504 | $11,538 | $11,571 | $11,605 | $11,638 | $11,672 | |
| Construction Expenses | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Asset Management Fee | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Cash Flow before Debt Service | $8,931 | $11,305 | $11,338 | $11,371 | $11,404 | $11,438 | $11,471 | $11,504 | $11,538 | $11,571 | $11,605 | $11,638 | $11,672 | |
| ACQUISITION & SALE | ||||||||||||||
| Purchase Price | $2,200,000 | |||||||||||||
| Acquisition Fee | -- | |||||||||||||
| Working capital | $0 | |||||||||||||
| Sale Proceeds | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||
| Equity Waterfall Disposition Fee | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||
| Closing Costs (sale) | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | ||
| Unlevered Net Cash Flow | $11,305 | $11,338 | $11,371 | $11,404 | $11,438 | $11,471 | $11,504 | $11,538 | $11,571 | $11,605 | $11,638 | $11,672 | ||
| DEBT FINANCING | ||||||||||||||
| Acquisition Financing | ||||||||||||||
| Loan Amount | $1,224,356 | |||||||||||||
| Down Payment | $975,644 | |||||||||||||
| Remaining Balance | $1,224,356 | $1,223,078 | $1,221,793 | $1,220,503 | $1,219,206 | $1,217,903 | $1,216,594 | $1,215,278 | $1,213,956 | $1,212,628 | $1,211,294 | $1,209,953 | ||
| Loan Origination Fee | $0 | |||||||||||||
| Debt Service - Interest | $5,867 | $5,861 | $5,854 | $5,848 | $5,842 | $5,836 | $5,830 | $5,823 | $5,817 | $5,811 | $5,804 | $5,798 | ||
| Debt Service - Principal | $1,278 | $1,284 | $1,291 | $1,297 | $1,303 | $1,309 | $1,315 | $1,322 | $1,328 | $1,334 | $1,341 | $1,347 | ||
| Loan Payoff | $1,208,606 | |||||||||||||
| Working Capital Used | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Ending working capital balance | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | ||
| Cash Flow after Debt Service | $4,160 | $4,193 | $4,226 | $4,259 | $4,293 | $4,326 | $4,359 | $4,393 | $4,426 | $4,460 | $4,493 | -$1,204,079 | ||
| RETURNS | ||||||||||||||
| Cash on Cash | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | 5.34% | ||
| Current | AcquisitionJun 30, 2026 | 20271Y | |
|---|---|---|---|
| NET INCOME | |||
| Gross Potential Rent | $184,044 | $218,954 | |
| Vacancy | $5,521 | $6,569 | |
| Renovation Vacancy | $0 | ||
| Total Vacancy | $5,521 | $6,569 | |
| Effective Rental Revenue | $178,523 | $212,386 | |
| Total Other Income | -$4,971 | -$6,038 | |
| Gross Operating Income | $173,551 | $206,348 | |
| EXPENSES | |||
| Total Operating Expenses | $66,376 | $68,492 | |
| % of GOI | 38.25% | 33.19% | |
| NET OPERATING INCOME | $107,175 | $137,855 | |
| Construction Expenses | $0 | ||
| Asset Management Fee | $0 | ||
| Cash Flow before Debt Service | $107,175 | $137,855 | |
| ACQUISITION & SALE | |||
| Purchase Price | $2,200,000 | ||
| Acquisition Fee | -- | ||
| Working capital | $0 | ||
| Sale Proceeds | -- | ||
| Equity Waterfall Disposition Fee | -- | ||
| Closing Costs (sale) | -- | ||
| Unlevered Net Cash Flow | $137,855 | ||
| DEBT FINANCING | |||
| Acquisition Financing | |||
| Loan Amount | $1,224,356 | ||
| Down Payment | $975,644 | ||
| Remaining Balance | $1,208,606 | ||
| Loan Origination Fee | $0 | ||
| Debt Service - Interest | $69,990 | ||
| Debt Service - Principal | $15,750 | ||
| Loan Payoff | $1,208,606 | ||
| Working Capital Used | $0 | ||
| Ending working capital balance | $0 | ||
| Cash Flow after Debt Service | -$1,156,490 | ||
| RETURNS | |||
| Cash on Cash | 5.34% | ||
Acquisition Financing
| Loan amount | $1,224,356 |
|---|---|
| Down payment | $975,644 |
| LTV | 55.65% |
| DCR | 1.25 |
| Loan term | 5 years |
|---|---|
| Interest only period | 0 years |
| Amortization | 30 years |
| Interest rate | 5.75% |
|---|---|
| Interest rate spread | 0% |
| Loan fee | 0% |
| Income Assumptions | Occupancy | Rent growth | Other income growth |
|---|---|---|---|
| Year 1 | 97% | 3% | 4% |
Loan Assumptions
| Loan term | 5 |
|---|---|
| LTV | 55.65% |
| Interest rate | 5.75% |
| Amortization | 30 |
| I/O | no |
Property Tax Assumptions
| Effective tax rate | 1.25% |
|---|---|
| Reassess on sale | no |
| Property tax growth rate | 2% |
Expense assumptions
| Proforma OE offset | no |
|---|