New Construction - $80,000 Cost per Unit; Conventional Financing; Bonus

This form is a variation on a form developed by Joseph Guggenheim and explained in his book Tax Credits for Low Income Housing (Simon Publications, POBox 229, Glen Echo, Maryland.) When completed, numbers shown in green will be editable, while numbers shown in blue will not be, and the form will be interactive with the blue numbers being changed by ProCash (SetupA) based on changes to the green numbers made by the user. (updated 5/ 9/08 17:42)

This form is a variation on a form developed by Joseph Guggenheim and explained in his bookTax Credits for Low Income Housing (Simon Publications, POBox 229, Glen Echo, Maryland.)

Financing Setup for Rental Property:Trial 1: New Construction - $80,000 Cost per Unit; Conventional Financing

New Construction - $80,000 Cost per Unit; Conventional Financing

Development Costs
1. Property acquisition, inc. soft costs: Land	5000
Property acquisition, inc. soft costs: Building
2. Rehab or construction hard costs	55000
3. Long term financing fees & expenses
4. Other ineligible soft costs inc. admin & synd.exp.	5000
5. All other soft costs, inc. A&E & developers fee	15000
6. Total development cost:	80000
Financing Sources
7. Annual tax credit eligible amount:
a. building acquisition:
b. rehab/construction:	5950
c. 30% bonus for tract or area:
d. Total annual amount of tax credits (a+b+c)	5950
8. Equity contribution:	41650
9. Remaining costs to be financed:	38350
Operating Cash Flow
10. Debt service:	3568.47	297.37
Debt service:
11. Operating expenses:	3240	270
12. Cash flow (debt coverage:	535.27	44.61
13. Vacancy rate:	386.51	32.21
14. Tenant Rent: (10 to 13)	7730.25	644.19
15. Utilities allowance:	900	75
16. Gross Rent for tax credit eligib.:	8630.25	719.19
Additional Inputs
No. of acres :
Units to develop :
Minimum income/unit before vacancy :
1st mortgage loan to value Ratio or $ Amount :
1st mortgage term in Years :
2nd mortgage loan to value ratio or $ amount :
2cd mortgage term in years :
Mortgage amounts based on cost :
Financing is tax exempt :
LIHTC Tax Credit: Const./Major Rehab :
Tax credit bonus :

Home E-Mail