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Mercy House
<br />Louis Martin Residence
<br />9511 S Mills End Road, Anaheim, CA 92804
<br />Operating Proforma/I Flow Analysis
<br />Aasumae 4 reraal ur4b wah 1 onelts mapper N 50%AMI. SHP operating
<br />n
<br />1
<br />2
<br />3
<br />4
<br />6
<br />6
<br />7
<br />a
<br />RENTAL REVENUES:
<br />Gross Potential Rent
<br />18,240
<br />18,605
<br />18,977
<br />19,357
<br />19,744
<br />20,139
<br />20,542
<br />20.953
<br />2'
<br />Laundry/Other
<br />$4 /u/mo
<br />240
<br />245
<br />250
<br />255
<br />260
<br />265
<br />270
<br />275
<br />SHP subsidy - operations
<br />75%
<br />29,093
<br />29,820
<br />30,566
<br />31,330
<br />32, 113
<br />32,916
<br />33,739
<br />34,582
<br />31,
<br />SHP subsidy - supportive services
<br />80%
<br />13,200
<br />13,530
<br />13,868
<br />14,215
<br />14,570
<br />14,934
<br />15.307
<br />15,690
<br />1(
<br />Vacancy Allowance
<br />10.00%
<br />(1, 848)
<br />(1, 885)
<br />(1, 923)
<br />(1961)
<br />(2000)
<br />(2040)
<br />(2081)
<br />(2123)
<br />(;
<br />Net Rental Ineome
<br />58,925
<br />60,315
<br />61,738
<br />63,196
<br />64,687
<br />66,214
<br />67,777
<br />69,377
<br />7'
<br />PROPERTY OPERATING COSTS:
<br />Administrative Expert -
<br />Office Supplies & Equipment
<br />$21 /mo.
<br />250
<br />256
<br />263
<br />269
<br />276
<br />283
<br />290
<br />297
<br />Payroll Services
<br />$0 /mo.
<br />0
<br />0
<br />Postage & Printing
<br />$6 /mo.
<br />75
<br />77
<br />79
<br />81
<br />83
<br />85
<br />87
<br />89
<br />Telephone/Answering Service & Internet
<br />$21 /mo.
<br />250
<br />256
<br />263
<br />269
<br />276
<br />283
<br />290
<br />297
<br />Auto Expense
<br />$0 /mo.
<br />0
<br />Travel(mileage)'
<br />$33 /mo.
<br />400
<br />410
<br />420
<br />431
<br />442
<br />453
<br />464
<br />475
<br />Misc. Administrative Expense
<br />$0 /mo.
<br />0
<br />Resident Services/Sociel Development"
<br />$300 /unit
<br />1,500
<br />1,538
<br />1,576
<br />1,616
<br />1,656
<br />1,697
<br />1.740
<br />1,783
<br />1
<br />Other
<br />$0 /mo.
<br />0
<br />Bond Issuer's Fee
<br />0,000%
<br />0
<br />Marketing Expense:
<br />Advertising
<br />$6 /mo.
<br />75
<br />77
<br />79
<br />81
<br />83
<br />85
<br />87
<br />89
<br />Professional Fees:
<br />Properly Management Fees
<br />5.00% /Net Income
<br />3,200
<br />3,280
<br />3,362
<br />3.446
<br />3,532
<br />3,621
<br />3.711
<br />3,804
<br />3
<br />Accounting
<br />$38 /mo.
<br />450
<br />461
<br />473
<br />485
<br />497
<br />509
<br />522
<br />535
<br />Legal Fees
<br />$42 /mo.
<br />500
<br />513
<br />525
<br />538
<br />552
<br />566
<br />580
<br />594
<br />Auditing Expense
<br />$25 /mo.
<br />300
<br />308
<br />315
<br />323
<br />331
<br />339
<br />348
<br />357
<br />Utilities:
<br />All utilities
<br />$458 /mo.
<br />5,500
<br />5,638
<br />5, 778
<br />5,923
<br />6,071
<br />6,223
<br />6,378
<br />6,538
<br />6
<br />Gas Included in utilities
<br />$0 /u/mo
<br />0
<br />Water and Sewer Included in utilities
<br />$0 /u/mo
<br />0
<br />Payroll/Payroll Taxes:
<br />Salaries -Property Manager
<br />$1,667 /mo.
<br />20, 000
<br />20, 500
<br />21,013
<br />21,538
<br />22,076
<br />22.628
<br />23,194
<br />23,774
<br />24
<br />Salaries -Resident Services Coordination
<br />$1, 000 /mo.
<br />12,000
<br />12,300
<br />12,608
<br />12,923
<br />13,246
<br />13,577
<br />13,916
<br />14,264
<br />/4
<br />Salaries -Administrative
<br />$0 /mo.
<br />0
<br />Salaries -Maintenance Supervisor
<br />$0 /mo.
<br />0
<br />Salaries -Maintenance Personnel
<br />$0 /mo.
<br />0
<br />Employee Apartments
<br />$0 /mo.
<br />0
<br />Payroll Taxes/Benefits - N/A for prop mgr
<br />25.000%
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Payroll/Taxes/Benefits- Resident Services Coordination
<br />25.000%
<br />3.000
<br />3,075
<br />3,152
<br />3,231
<br />3.311
<br />3,394
<br />3,479
<br />3.566
<br />3,
<br />$0 /mo.
<br />0
<br />Contract Services:
<br />$0 mo
<br />Trash Removal
<br />$44 /mo
<br />525
<br />538
<br />552
<br />565
<br />580
<br />594
<br />609
<br />624
<br />Landscaping"'
<br />$81 /mc
<br />975
<br />999
<br />1,024
<br />1,050
<br />1,076
<br />1,103
<br />1, 131
<br />1, 159
<br />1,
<br />Past Control
<br />$60 mo
<br />720
<br />738
<br />756
<br />775
<br />795
<br />815
<br />835
<br />856
<br />Janitorial
<br />$0 /u/mo
<br />0
<br />Supplies
<br />$42 /mo
<br />500
<br />513
<br />525
<br />538
<br />552
<br />566
<br />580
<br />594
<br />Inspections
<br />$13 /mo.
<br />150
<br />154
<br />158
<br />162
<br />166
<br />170
<br />174
<br />178
<br />Cleaning & Decorating:
<br />Painting Supplies
<br />$0 /u/mo
<br />0
<br />Grounds Supplies Inc. in repair/maim.
<br />$0 /u/mo
<br />0
<br />Repairs & Maintenance:
<br />Repairs & Maintenance General
<br />$125 /mo.
<br />1,500
<br />1,538
<br />1.576
<br />1,615
<br />1,656
<br />1,697
<br />1,740
<br />1.783
<br />1,
<br />Variable Cost
<br />$0 /mo.
<br />0
<br />TOTAL VARIABLE COSTS
<br />$10,374 /unit
<br />51, 870
<br />53.167
<br />54.496
<br />55,858
<br />67,256
<br />58,686
<br />60,153
<br />61,657
<br />63,
<br />Taxes & Insurance:
<br />Assumes low-income
<br />Real Property Tax Assessment tax exemption
<br />$50 /unit
<br />250
<br />255
<br />260
<br />265
<br />270
<br />275
<br />281
<br />287
<br />Director's & Officer's Insurance
<br />$10 /mo.
<br />120
<br />123
<br />126
<br />129
<br />132
<br />135
<br />138
<br />141
<br />Miss Tax es/Licenses/Permils
<br />$5 /mo.
<br />25
<br />26
<br />27
<br />28
<br />29
<br />30
<br />31
<br />32
<br />Insurance
<br />$333 /mo.
<br />4,000
<br />4,100
<br />4203,
<br />4,308
<br />4,416
<br />4.526
<br />4.639
<br />4,755
<br />4,1
<br />Ground Lea" Payment
<br />0
<br />TOTAL FIXED COSTS
<br />4,395
<br />4,504
<br />4,616
<br />4,730
<br />4,847
<br />4,966
<br />5.089
<br />5,215
<br />5,:
<br />TOTAL OPERATING COSTS
<br />$11,253 /unit
<br />56,265
<br />57,671
<br />59,112
<br />60,588
<br />62,102
<br />63,652
<br />65,242
<br />66,a72
<br />68,:
<br />NET OPERATING INCOME:
<br />2,660
<br />2,644
<br />2,626
<br />2.608
<br />2,585
<br />2,562
<br />2,535
<br />2,505
<br />2,1
<br />CASH FLOW FROM OPERATIONS:
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Replacement Reserve l- Capital Improvements
<br />$250 /unit
<br />1,250
<br />1,250
<br />1,250
<br />1,250
<br />1.250
<br />1,250
<br />1, 250
<br />1,250
<br />1,.
<br />CASH FLOW AVAILABLE FOR DEBT SERVICE
<br />1,410
<br />1, 394
<br />1,376
<br />1,358
<br />i, 335
<br />i, 312
<br />1.285
<br />i, 255
<br />1,.
<br />Debt Service - First Trust Deed
<br />$ -
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Cash Flow After Debt Service
<br />1,410
<br />1, 394
<br />1.376
<br />1, 358
<br />1.335
<br />1,312
<br />1,285
<br />1,255
<br />1.:
<br />Asset Mgt Fee
<br />50% of cash flow
<br />(705)
<br />(697)
<br />(688)
<br />(679)
<br />(668)
<br />(656)
<br />(642)
<br />(627)
<br />(E
<br />Replacement Reserve II - Furnishings
<br />50% of cash flow
<br />(705)
<br />(697)
<br />(688)
<br />(679)
<br />(668)
<br />(656)
<br />(642)
<br />(627)
<br />(E
<br />CASH FLOW AVAILABLE
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Rgpay deferred developer fee - WA
<br />CASH FLOW
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />Beglnnirvj Balance
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />End Balance
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />0
<br />1
<br />2
<br />3
<br />4
<br />6
<br />6
<br />7
<br />8
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