Our rental property portfolio: Financial highlights
The following buildings have been sold and removed from the list below: 241-243 Main St., 7 & 9 Dunbar Ct., 26 Prospect St., 2 Carey Ct. 29 Abbott St., 28 Halifax St.
*Notes: For more detailed information, including APOD (Annual Property Operating Data budget), please complete and return our Non Disclosure form located on our more info/downloads page.
| Prop | Units | AGI | ~NOI | SALES PRICE | ~CAP |
|---|---|---|---|---|---|
| 28 Pleasant St. | 4 | $42,180 | 21,090 | $260,000 | 8% |
| 60 Pleasant St. | 4 | 48,660 | 24,330 | $295,000 | 8% |
| Totals: | 8 | 90,840 | ~$45,420* | $555,000 | 8% |
DOWNLOADS
Rental AnalyzerAN EXCEL SPREADSHEET WHICH WILL ALLOW YOU TO TWEAK NUMBERS BASED ON YOUR OWN PREFERENCES.
Property FlyerPDF FLYER TO SEND OR PASS OUT TO OTHERS ASSUMING YOU WANT TO ATTRACT PARTNERS OR REFERRALS
OTHER INFORMATION
NOI (Net operating income) is an estimate only using a nationally accepted metric called the "50% rule" which states that, over time, the expenses of any multi-family property will equal 40%-50% of it's gross rent (35-45% for houses). Expenses include all the usual operating expenses plus an allowance for vacancy, but do NOT include debt service. AGI and MGI are as of 1/24/2024. For a detailed breakdown of rents and expenses (most actual, some projected), download our excel sheet here
We are using 50% of gross income in our projection above, but we suspect expenses will fall more in the 40-45% range. Our properties have had so many upgrades and repairs that they will most likely expense at the low end of the scale. For example, our actual percentages for 2014 averaged 60.48% (and even higher in previous years!) due to an aggressive capital improvements and preventative maintenance campaign. In other words we spent two years of repairs and upgrades every year so that repairs expense would be much less in future years, when we retire. Because we've "deliberately" spent more on repairs and upgrades during our holding period, they should be LOWER during YOUR holding period. Of course there is no guarantee, as a building's performance will hinge on many factors, including quality of management, utility and other fluctuating costs, etc.