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14701 Forest Boulevard
<br /> Income and Expense Summary
<br /> 14701 Forest Boulevard 2002 2003 2004 2005 2006 2007 2008 2009 2010 Cumulative
<br /> Cost of Acquisition $ 179,436.22
<br /> Land=12,005 square feet
<br /> Bldg= 1,499 square feet
<br /> Building Built in 1901
<br /> Thru Sept
<br /> Assessed Value: Building $ 116,400 $ 128,000 $ 133,100 $ 142,000 $ 129,600 $ 126,600 $ 123,800 $ 9,700 $ 8,600
<br /> Assessed Value: Land $ 21,000 $ 23,000 $ 45,000 $ 45,000 $ 52,500 $ 52,500 $ 47,300 $ 115,700 $ 113,400
<br /> Assessed Value: Total $ 137,400 $ 151,000 $ 178,100 $ 187,000 $ 182,100 $ 179,100 $ 171,100 $ 125,400 $ 122,000
<br /> Rent Received $13,650.00 $14,400.00 $14,375.00 $14,300.00 $ 9,150.00 $14,400.00 $13,050.00 $ 6,592.00 (1) $ 99,917.00
<br /> Expenses:
<br /> Electric Utilities $ 630.53 $ 970.50 $ 180.74 $ 273.39 $ 3,017.60 (2) $ 1,590.90 $ 1,570.46 $ 1,746.46 $ 9,980.58
<br /> Gas Utilities $ 918.03 $ 1,336.46 $ 453.04 $ - $ 3,313.85 (2) $ 2,206.87 $ 1,639.69 $ 1,191.24 $ 11,059.18
<br /> Insurance $ 727.00 $ 855.50 $ 916.00 $ 1,017.00 $ 1,789.25 $ 1,245.50 $ 1,234.00 $ 1,346.00 $ 9,130.25
<br /> Legal Fees $ - $ - $ - $ - $ 1,717.83 (3) $ 44.56 $ - $ - $ 1,762.39
<br /> Repair&Maintenance(4) $ 333.91 $ - $ - $ 182.48 $ 861.09 $ 303.83 $ 662.03 $ 678.39 $ 3,021.73
<br /> Taxes $ 1,314.00 $ 1,666.00 $ 1,780.00 $ 1,844.00 $ 1,696.00 $ 1,822.00 $ 1,740.00 $ 1,344.00 $ 13,206.00
<br /> $ 3,923.47 $ 4,828.46 $ 3,329.78 $ 3,316.87 $12,395.62 $ 7,213.66 $ 6,846.18 $ 6,306.09 $ 48,160.13
<br /> Revenue over Expenses $ 9,726.53 $ 9,571.54 $11,045.22 $10,983.13 $ (3,245.62) $ 7,186.34 $ 6,203.82 $ 285.91 $ 51,756.87
<br /> Return on Acquisition 5.42% 5.33% 6.16% 6.12% -1.81% 4.00% 3.46% 0.16%
<br /> Comparison:
<br /> Rate on 5-Year Treasury Bond 2.97% 3.43% 4.05% 4.75% 4.43% 2.80% 2.20% 1.26%
<br /> (1)Tenants owe$2,127 in back rent as of 09/30/10-Does not include staff time spent collecting rent
<br /> (2)Xcel was billing tenant but ultimately held city responsible for past due bills under a PUC rule prohibiting a tenant from being billed for gas and electric
<br /> service when one meter is used for a multiple unit rental property
<br /> (3)Unlawful detainer action to evict tenant for nonpayment of rent and utility bills
<br /> (4)Repairs&Maintenance does not include staff time making repairs
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