Projected Returns for Purchaser

Based on Purchase Price of............................$265,000.
w/ 10% down = $26,500.

Rental Value (RV)
	% of purchase $ 11.77%	$31,200
Recurring Expenses (RE)
		(10,222)
Net Operating Income (NOI)
	adjusted cap rate 8.02%	$20,978
Less Debt Service
	30 year 75/15 $1,507/mo 90 @ 6.50 %* - 30 year debt service	($18,084)
	Return after debt service	$2,894
	Cash on Cash Return	10.92%
Using $200,000 as depreciation base - 27.5 yrs straight line $7,272/yr X tax rate of 30%		$2,182
	tax benefit =	8.23%
4% growth per year - Conservative
	$10,600 =	40%

Projected Annual Return on Cash - 59.12%

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Lewis Walker is a Broker Associate with
RE/MAX The Woodlands & Spring
25321 I-45 North
The Woodlands Texas 77380
Phone: 281 363-5888