APTEVL.SLK

Apartment Evaluator:

  This sheet is used primarily to evaluate the cash flow situation when
considering small (residential) rental units. It was written for a three
family unit I recently purchased and runs conveniently on a M-100. It works
even better on a T-200. (The larger screen was my primary consideration in
"upgrading" to a T-200.)
  Operation:
    Land: This is the percentage of total value for land. This is assumed to
      be 100% - {the value for buildings}.
    Bldg: This is the percentage of total value for the building(s) involved.         A value of zero (0) is assumed until changed.

    Purchase:
     Price : Cost of property purchased.
     Int   : Interest rate of money borrowed. Fixed rate only.
     Months: Number of months of loan.
     Down  : Down payment.
     Paymt : The P&I for the loan. MAKE NO ENTRIES HERE.

    Fix  up: The cost it will take to fix up the property. If this is not
             applicable, leave it blank.
    Deprecn: The amount you will be able to depreciate (for tax purposes) this
             property. Note: This uses the 18 year straight-line depreciation
             method, and is subject to change. Modify as necessary.

    Rents:
     Rent : Enter total amount of rent collected. If you collect from more
            than 1 unit for each property, you may find it best to enter them
            like this:   "={rent1}+{rent2}+{rent3}[ENTER]"
            This will allow you to go back and edit this cell and the rent
            figures will be intact.
     Mngmt: This is the management fee you pay each month. It is assumed to be
            15% of the gross rents. Change as necessary or [BLANK] if not
            applicable.
     Taxes: This is the yearly taxes you pay on this property. This sheet
            assumes a 27mils and 30% of the purchase price. This is a figure
            arrived at purely by experience. The area I live in taxes at a rate
            of about 27 mils, and the assessed value is generally 30-50% of the
            appraised value.
     Utils: This is the yearly amount you pay for utilities on the property. If
            you want to go on a monthly evaluation, [Edit] the cell next to
            "Net:" and remove the "/12" following "Utilities".
     Insnc: Yearly Insurance payments. If you want to deal on a monthly basis,
            [Edit] "Net:" in the same manner as "Utils:".

     Net: This is the end result. If it is negative, then another row appears
          under the depreciation cell. This an alternate amount that you will
          be able to write off. NOTE: This is accurate as of 1985 tax laws, and
          should survive to 1986. After 1987 - Who knows???
             This alternate amount is the normal depreciation plus the negative
          cash flow (cost of owning the property) times 12. Modify as you see
          necessary.

  This spreadsheet uses the same process that many mortgage companies use to
evaluate a given property when financing. I've found the P&I number to be
off by .01 or so from the P&I tables (found in stationary stores).


                   +---------------+
                   |  Robert Toft  |
                   |  [74716,476]  |
                   +---------------+
ID;PMP
F;DG2R9
B;Y21;X6
NN;NPur_price;ER5C2
NN;NPur_int;ER6C2
NN;NPur_mon;ER7C2
NN;NPur_down;ER8C2
NN;NPur_pmt;ER9C2
NN;NUtilities;ER8C4
NN;Ntaxes;ER7C4
NN;NRent;ER5C4
NN;Ninsurance;ER9C4
NN;NManagement;ER6C4
NN;NFix_up;ER11C2
NN;NNet;ER11C4
NN;NLand;ER2C2
NN;NBuilding;ER2C4
NN;NRatios;ER1C1
C;Y1;X1;K"Ratios:"
F;FG2L
F;X2;FG2L
F;X3;FG2L
F;X4;FG2L
F;X5;FG2L
F;X6;FG2L
C;Y2;X1;K"Land:"
C;X2;E100-Building;K100
F;FG2L
C;X3;K"Bldg:"
F;X4;FG2L
F;X5;FG2L
F;X6;FG2L
C;Y3;X1;K"--------------";G
F;FG3R
C;X2;S;R3;C1
F;FG3R
C;X3;S
F;FG3R
C;X4;S
F;FG3R
C;Y4;X1;K"Purchase ";G
F;FG3R
C;X3;K"Rents"
F;FG2L
C;Y5;X1;K"Price :";G
F;X2;F$0R
C;X3;K"Rent :"
F;F$0R
F;X4;F$0R
F;X5;F$0R
F;X6;F$0R
C;Y6;X1;K"Int   :";G
F;FG0R
F;X2;FF3R
C;X3;K"Mngmt:"
F;FF3R
C;X4;E15%*Rent;K0
F;F$0R
F;X5;FF3R
F;X6;FF3R
C;Y7;X1;K"Months:";G
F;FF0R
F;X2;FF0R
C;X3;K"Taxes:"
F;FF0R
C;X4;E0.027*0.3*Pur_price;K0
F;F$0R
F;X5;FF0R
F;X6;FF0R
C;Y8;X1;K"Down  :";G
F;FG0R
F;X2;F$0R
C;X3;K"Utils:"
F;FG0R
F;X4;F$0R
F;X5;F$0R
F;X6;F$0R
C;Y9;X1;K"Paymt :";G
F;FG0R
C;X2;E(Pur_price-Pur_down+Fix_up)*Pur_int/12*(1+Pur_int/12)^Pur_mon/((1+Pur_int/12)^Pur_mon-1);K#DIV/0!
F;F$0R
C;X3;K"Insnc:"
F;F$0R
F;X4;F$0R
F;X5;F$0R
F;X6;F$0R
F;Y10;X2;F$0R
C;X3;K"-------";G
F;F$0R
C;X4;K"-------";G
F;F$0R
C;Y11;X1;K"Fix  up:"
F;FG3R
F;X2;F$0R
C;X3;K"Net:";G
F;FG3R
C;X4;ERent-taxes/12-Utilities/12-insurance/12-Pur_pmt-Management;K#DIV/0!
F;F$0R
F;X6;FG2L
C;Y12;X1;K"Deprecn:";G
C;X2;EBuilding/100*(Fix_up+Pur_price)/18;K0
F;F$0R
F;X3;F$0R
F;X4;F$0R
C;Y13;X1;EIF(Net<0,"Alt Depr:","");K#VALUE!
F;FG0R
C;X2;EIF(Net<0,Building/100*Pur_price/18-12*Net,"");K#VALUE!
F;F$0R
C;X3;EIF(Net<0,"Cost/yr:","");K#VALUE!
F;FG0R
C;X4;EIF(Net<0,-Net*12,"");K#VALUE!
F;F$0R
F;Y14;X2;F$2R
F;X4;F$2R
F;X6;FG2L
F;Y15;X2;F$0R
F;X3;F$0R
F;Y16;X4;F$0R
F;Y17;X1;F$0R
F;X2;F$0R
F;X4;F$2R
F;Y18;X1;F$0R
F;X3;F$0R
F;Y19;F$0R
F;Y21;X2;F$0R
F;X3;F$0R
E