Manager's

Evaluation Report
6313 W WASHBURN RD, LAS VEGAS, 89130
3 bedroom 2 F bath 1381 SF home built in 1993
$ 88,900 Proforma Sale Price

$ 950 Rent

Disposition Costs

Cash Operating Expenses

$ 2,670

Sell-Side of Listing
$ 2,670

Buy-Side of Listing
$ 1,690

Seller Closing Costs

$ 75
$ 50
$ -

Property Tax
Homeowners Insurance
Homeowners Association Fees

$ 7,030

Total Disposition Costs

$ 60
$ -

Includes 6% property management fee

Other Expenses

$ 81,870 Revenue from Disposition

$ 185 Monthly Cash Expenses

Acquisition, Carrying, and Renovation Costs

Reserve Expenses

$ 65,400 Auction Acquisition Cost

$ 3,924

Trustee Sale Fees & Commissions

$ 55
$ 40

Maintenance and Replacement Reserves

Vacancy and Collection Loss

$ 4,400

$ 520

$ 1,250

$ 300

$ -
$ -
$ 340

$ 95

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

$ 280 Total Expenses

$ 670 Net Operating Income
8.6

Months to match flip

$ 76,134 Total Acquisition and Renovation Costs

$ 76,134

Total Acquisition and Renovation Costs

$ 5,736

Total Profit

$ 8,040

Yearly Net Income

7.5% Profit Margin

10.6% Capitalization Rate

Asking Prices
$ 93,900 Initial Asking Price
$ 90,900 Minimum MLS Asking Price
$ 88,900 Cashflow Investor Asking Price
$ 82,900 Breakeven Sale Price

Ideal Home Brokers

Manager's Report

Asking Rents
=
=
=
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$ 1,000
$ 975
$ 950

$ 925

$ 900

1 of 2

larry@IdealHomeBrokers.com
(949) 351-6913

6313 W WASHBURN RD, LAS VEGAS, 89130

Lease Date

Amount

10/11/11
7/30/11
8/31/11
8/5/11
4/1/11
12/3/10
9/12/11

$ 950
$ 950
$ 950
$ 950
$ 950
$ 1,050
$ 1,100

Start Date
11/14/11
11/15/11
11/16/11
12/14/11
01/13/12
02/17/12
03/27/12
11/14/11

End Date
11/15/11
11/16/11
12/14/11
01/13/12
02/17/12
03/27/12
03/30/12
03/30/12

1991, 3/2, 1501 SF, $85500, $56.92/SF, 5024 DRUMMOND RD, DESERT DREAM EST UNIT 1 9/20/11
1991, 3/2, 1381 SF, $94900, $68.66/SF, 5033 DRUMMOND RD, DESERT DREAM EST UNIT 2 9/16/11

1993, 3/2, 1200 SF, $106000, $88.25/SF, 5109 GOLFRIDGE DR, DESERT DREAM EST

Comparable Rentals
6440 SIERRA DIABLO AV -- 2 bed 3 bath 1412 SF -- 1997 List: $950
6533 HILLSIDE BROOK AV -- 2 bed 3 bath 1412 SF -- 1997 List: $950
6408 SUNDOWN HEIGHTS AV -- 2 bed 2 bath 1413 SF -- 1996 List: $950
6540 ANGEL MOUNTAIN AV -- 2 bed 3 bath 1265 SF -- 1996 List: $950
6540 ANGEL MOUNTAIN AV -- 2 bed 3 bath 1265 SF -- 1996 List: $950
5017 DRUMMOND RD -- 3 bed 2 bath 1381 SF -- 1991 List: $1050

Fix up

11/30/2011

10/31/2011

8/31/2011

7/31/2011

Evichon 11/16/11
1

12/14/11

Renhng

11/16/11

01/13/12

Lishng

Auchon 11/15/11
1

02/17/12

Escrow

11/15/11

03/27/12

Closing

Evichon Auchon

7/1/2011

Task
Auction Purchase - 1 day(s)
Eviction and Possession - 1 day(s)
Property Renovation - 28 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

9/30/2011

6409 SIERRA DIABLO AV -- 2 bed 2 bath 1233 SF -- 1997 List: $1100

03/30/12

Ideal Home Brokers

Manager's Report

1/30/2012

1993, 3/2, 1381 SF, $86900, $62.87/SF, 5117 DRUMMOND RD, DESERT DREAM EST

12/31/2011

1990, 3/2, 1501 SF, $89990, $59.91/SF, 6300 W LA MADRE WY, DESERT DREAM EST UNIT 1 8/10/11

5/1/2012

7/21/11
6/21/11

Amount
$ 82,500
$ 86,700
$ 99,900
$ 85,000
$ 85,900
$ 98,000

3/31/2012

Resale Date

3/1/2012

Comparable Resales

1991, 3/2, 1501 SF, $82500, $54.92/SF, 5032 DRUMMOND RD, DESERT DREAM EST UNIT 210/26/11

Purchase to Sale Schedule

Fix up 12/14/11
28
Renhng 01/13/12
30
Lishng 02/17/12
35
Escrow 03/27/12
39
Closing 03/30/12
3

2 of 2

larry@IdealHomeBrokers.com
(949) 351-6913