Help Analyzing a Deal

[Steven L.]

Hi - I started in earnest July 4th Weekend.  I have a $1.5M deal I would like to walk through with someone who is experienced.   

It is a 24 unit Apartment in WI. From the CAP Rate & Gross Rent Multiplier and other LoopNet Info, I have a calculated: Gross Operating Income, Expenses, NOI, Cash on Cash Return, Cash Flow, $/Door, Case Flow/Door, BE Occupancy %, Debt Coverage Ratio, Loan to Value, ect.

I have a spreadsheet that runs the numbers on what the seller is asking along with the ability to run scenario numbers to hit sample benchmarks. 

I don't think this conversation should be more than 20mins.   I am happy to send the LoopNet listing and my calculations.  

Would anyone be willing to run through this with me?

Thanks,

Steve

[Sam Shueh]

Have a lender providing the points, fees and talk to title to get better estimate of closing cost. Way more than $8K....

If I had a 24 unit the first thing I do is allocate one unit for an in house property manager and find a maintenance man and include them as free occupants. So you get 22 units.  The GOI of $207,639/(24x12)=$720/ mo per unit. They are two BR?

Looks like north is all industrial or mixed zoning.  I suspect a mostly blue collar neighborhood. Any major companies practice layoffs?