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3-27-1997 3:22PM FROM MSP REAL ESTATE, INC. 612 336 4565 P. 9 I <br /> 4. INCOME/EXPENSE ANALYSIS 11; <br /> ANNUAL <br /> # UNITS RENT/UNIT INCOME <br /> 2 BEDROOM - HOLMAN 5 $295 $17,700 <br /> 3 BEDROOM - HOLMAN 5 $295 $17,700 <br /> 1 BEDROOM -APT 16 $509 $97,728 <br /> 2 BEDROOM -APT 19 $614 $139,992 <br /> 3 BEDROOM - TH 21 $656 $165,312 <br /> 4 BEDROOM -TH 2 $720 $17,280 <br /> TOTALS 68 $455,712 <br /> GROSS RENTAL INCOME $455,712 <br /> OCCUPANCY 95.00% <br /> NET RENTAL INCOME $432,926 <br /> LAUNDRY& PARKING @ $17,952 <br /> 0 <br /> EFFECTIVE GROSS INCOME $450,878 ) <br /> REAL ESTATE TAX $687 ($46,716) <br /> OPERATING EXPENSE @ $2,574 ($175,032) 1 <br /> ANNUAL REPL RESERVE @ $250 ($17,000) <br /> ASSET MANAGEMENT FEE © 1.50% ($6,763) <br /> NET OPERATING INCOME $205,367 <br /> DEBT SERVICE @ 9.00% ($183,454) <br /> CASH FLOW $21,913 <br />