Manager's

Evaluation Report
3042 AUSTIN PALE AVE, NORTH LAS VEGAS, 89081
4 bedroom 3 F bath 1787 SF home built in 2006
$ 99,900 Proforma Sale Price

$ 1,200

Rent

Disposition Costs

Cash Operating Expenses

$ 3,000

Sell-Side of Listing
$ 3,000

Buy-Side of Listing
$ 1,500

Seller Closing Costs

$ 85
$ 55
$ 50

Property Tax
Homeowners Insurance
Homeowners Association Fees

$ 7,500

Total Disposition Costs

$ 75
$ -

Includes 6% property management fee

Other Expenses

$ 92,400 Revenue from Disposition

$ 265 Monthly Cash Expenses

Acquisition, Carrying, and Renovation Costs

Reserve Expenses

$ 76,100 Auction Acquisition Cost

$ 4,566

Trustee Sale Fees & Commissions

$ 55
$ 50

$ 2,200

$ 715

$ 1,250

$ -
$ 1,075

$ -
$ 383

$ 105 Monthly Reserve Expenses

Real Estate Improvements

Total Carrying Costs
Project Management
Back Property Taxes
Back HOA Dues
Tenant Move-out Allowance
Transfer Taxes and Recording Fees

Maintenance and Replacement Reserves

Vacancy and Collection Loss

$ 370 Total Expenses

$ 830 Net Operating Income
7.4

Months to match flip

$ 86,289 Total Acquisition and Renovation Costs

$ 86,289

Total Acquisition and Renovation Costs

$ 6,112

Total Profit

$ 9,960

Yearly Net Income

7.1% Profit Margin

11.5% Capitalization Rate

Asking Prices
$ 104,900 Initial Asking Price
$ 101,900 Minimum MLS Asking Price
$ 99,900 Cashflow Investor Asking Price
$ 92,900 Breakeven Sale Price

Ideal Home Brokers

Manager's Report

Asking Rents
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=
=
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$ 1,250
$ 1,225
$ 1,200

$ 1,175

$ 1,150

1 of 2

larry@IdealHomeBrokers.com
(949) 351-6913

3042 AUSTIN PALE AVE, NORTH LAS VEGAS, 89081

Comparable Resales

Resale Date
9/16/11
2005, 4/3, 1787 SF, $99900, $55.87/SF, 6270 COPPER LIGHT ST, CENTENNIAL AZURE UNIT 28/30/11
2005, 3/3, 1839 SF, $90200, $49.02/SF, 6138 DARNLEY ST, CENTENNIAL AZURE UNIT 3
8/26/11
2005, 4/3, 2344 SF, $120000, $51.17/SF, 2841 BRIDLETON AV, CENTENNIAL AZURE-UNIT 4 8/1/11
2006, 3/2, 1674 SF, $106500, $63.58/SF, 6076 DOVER DOVE CT, CENTENNIAL AZURE UNIT 57/20/11
2005, 3/3, 2344 SF, $107900, $46.01/SF, 2929 BRIDLETON AV, CENTENNIAL AZURE-UNIT 4 7/15/11
2006, 4/3, 1787 SF, $90000, $50.33/SF, 3041 AUSTIN PALE AV, CENTENNIAL AZURE UNIT 2

6292 SLEDGEHAMMER CT -- 4 bed 3 bath 1787 SF -- 2005 List: $1195

6292 SHINER BOCK CT -- 4 bed 3 bath 1787 SF -- 2005 List: $1200
6214 COPPER LIGHT ST -- 4 bed 3 bath 1787 SF -- 2005 List: $1295
2908 VIGILANTE CT -- 4 bed 3 bath 1787 SF -- 2006 List: $1275

Fix up

11/03/11

12/03/11

01/07/12

02/15/12

02/18/12

Ideal Home Brokers

Manager's Report

12/1/2011

10/1/2011

Evichon 10/13/11
1

Renhng

10/13/11

Lishng

Auchon 10/12/11
1

Escrow

10/12/11

Closing

Evichon Auchon

9/1/2011

Task
Auction Purchase - 1 day(s)
Eviction and Possession - 1 day(s)
Property Renovation - 21 day(s)
Rental Listing - 30 day(s)
MLS Listing - 35 day(s)
Escrow and Closing - 39 day(s)
Cash to Auction - 3 day(s)
Purchase to Sale

11/1/2011

3049 AUSTIN PALE AV -- 4 bed 3 bath 1787 SF -- 2006 List: $1195

8/4/11
7/10/11
3/31/11
6/21/11
2/28/11
12/30/10
8/25/11

$ 1,250
$ 1,400
$ 1,195
$ 1,200
$ 1,275
$ 1,275
$ 1,195

Start Date
10/11/11
10/12/11
10/13/11
11/03/11
12/03/11
01/07/12
02/15/12
10/11/11

End Date
10/12/11
10/13/11
11/03/11
12/03/11
01/07/12
02/15/12
02/18/12
02/18/12

3/2/2012

2925 VIGILANTE CT -- 4 bed 3 bath 1787 SF -- 2006 List: $1400

Amount

1/31/2012

2909 VIGILANTE CT -- 4 bed 3 bath 1787 SF -- 2005 List: $1250

Lease Date

1/1/2012

Comparable Rentals

Amount
$ 90,000
$ 100,000
$ 84,200
$ 115,000
$ 110,000
$ 115,000

Purchase to Sale Schedule

Fix up 11/03/11
21
Renhng 12/03/11
30
Lishng 01/07/12
35
Escrow 02/15/12
39
Closing 02/18/12
3

2 of 2

larry@IdealHomeBrokers.com
(949) 351-6913