| Mortgage Amount | $963,000 | Rental Income (Tier 1) | $191,003 | Other Income | $4,800 | |||
| Upgrade Cost | $5,000 | Rental Income (Tier 2) | $202,038 | Operating Expense | $105,000 | |||
| Mortgage Rate | 4.50% | Vacancy Rate | 5.00% | Expenses | 3.50% | Rent and other Rates | 2.50% | |
| Standard Schedule | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Year | 1 |
2 |
3 |
4 |
5 |
6 |
7 |
13 |
14 |
15 |
| Rental Income | $191,003 |
$195,778 |
$200,672 |
$205,689 |
$210,831 |
$216,102 |
$221,505 |
$256,877 |
$263,299 |
$269,882 |
| Other Income | $4,800 |
$4,920 |
$5,043 |
$5,169 |
$5,298 |
$5,431 |
$5,567 |
$6,455 |
$6,617 |
$6,782 |
| Gross Income | $195,803 |
$200,698 |
$205,715 |
$210,858 |
$216,130 |
$221,533 |
$227,071 |
$263,333 |
$269,916 |
$276,664 |
| Vacancy | $9,790 |
$10,035 |
$10,286 |
$10,543 |
$10,806 |
$11,077 |
$11,354 |
$13,167 |
$13,496 |
$13,833 |
| Effective Gross Income | $186,013 |
$190,663 |
$195,429 |
$200,315 |
$205,323 |
$210,456 |
$215,718 |
$250,166 |
$256,420 |
$262,831 |
| Operating Expense | $105,000 |
$107,625 |
$110,316 |
$113,074 |
$115,900 |
$118,798 |
$121,768 |
$141,213 |
$144,744 |
$148,362 |
| Net Operating Income | $81,013 |
$83,038 |
$85,114 |
$87,242 |
$89,423 |
$91,658 |
$93,950 |
$108,953 |
$111,677 |
$114,469 |
| Debt Service | $89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
$89,669 |
| Residual Cash | -$8,656 |
-$6,631 |
-$4,555 |
-$2,427 |
-$246 |
$1,990 |
$4,281 |
$19,284 |
$22,008 |
$24,800 |
| Cumulative Residual | -$8,656 |
-$15,287 |
-$19,841 |
-$22,268 |
-$22,514 |
-$20,524 |
-$16,243 |
$60,875 |
$82,883 |
$107,683 |
| Energy Efficiency-Based Schedule for New Construction | ||||||||||
| Year | 1
|
2
|
3
|
4
|
5
|
6
|
7
|
13
|
14
|
15
|
| Rental Income | $202,038
|
$207,089
|
$212,266
|
$217,573
|
$223,012
|
$228,588
|
$234,302
|
$271,719
|
$278,512
|
$285,475
|
| Other Income | $4,800
|
$4,920
|
$5,043
|
$5,169
|
$5,298
|
$5,431
|
$5,567
|
$6,455
|
$6,617
|
$6,782
|
| Gross Income | $206,838
|
$212,009
|
$217,309
|
$222,742
|
$228,311
|
$234,018
|
$239,869
|
$278,174
|
$285,129
|
$292,257
|
| Vacancy | $10,342
|
$10,600
|
$10,865
|
$11,137
|
$11,416
|
$11,701
|
$11,993
|
$13,909
|
$14,256
|
$14,613
|
| Effective Gross Income | $196,496
|
$201,409
|
$206,444
|
$211,605
|
$216,895
|
$222,318
|
$227,875
|
$264,266
|
$270,872
|
$277,644
|
| Operating Expense | $105,000
|
$107,625
|
$110,316
|
$113,074
|
$115,900
|
$118,798
|
$121,768
|
$141,213
|
$144,744
|
$148,362
|
| Net Operating Income | $91,496
|
$93,784
|
$96,128
|
$98,532
|
$100,995
|
$103,520
|
$106,108
|
$123,052
|
$126,129
|
$129,282
|
| Debt Service | $90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
$90,134
|
| Residual Cash | $1,362
|
$3,650
|
$5,994
|
$8,397
|
$10,861
|
$13,386
|
$15,973
|
$32,918
|
$35,994
|
$39,148
|
| Cumulative Residual | $1,362
|
$5,012
|
$11,006
|
$19,403
|
$30,264
|
$43,649
|
$59,623
|
$213,550
|
$249,545
|
$288,692
|
| Yearly Difference | $10,018 | $20,298 | $30,847 | $41,671 | $52,778 | $64,174 | $75,866 | $152,675 | $166,662 | $181,009 |