Real Estate Question

Question Details

I need complete help with RED 362 Assignment 4, and you must fill out the attached Excel template directly. Please do not give me a separate written solution only. The work needs to be completed inside the provided template, using the correct tabs and format from the file.

Please carefully review the attached PDF instructions and then use the Excel template to complete all required calculations, tables, formulas, and written explanations.

Very Important You Must Use the Template

• You must fill out the attached Excel template directly
• Use the correct tabs:
  • Q1-1
  • Q1-2
  • Q1-3
  • Q1-4
• Put the answers in the proper places in the spreadsheet
• Do not submit a separate document instead of the template
• Do not leave the work as rough notes; it should look polished and submission-ready

Professors Instructions That Must Be Followed Exactly

• Answer the questions in the attached Excel template
• You may modify the format or add extra lines if needed for clarity
• You must explain calculations in sentences when appropriate
• Use cell referencing and Excel financial functions
• Do not type numbers calculated externally with a calculator
• Any calculated number must be shown with a formula in the spreadsheet
• The format must be clear and self-explanatory
• If assumptions are needed, clearly state them in the assumptions box at the end of each tab

What Needs to Be Completed in the Template

Q1-1 Tab Rent Roll

• Create the rent roll table for all apartment units
• Create the additional revenue table
• Calculate monthly and annual rental income correctly using formulas

Q1-2 Tab NOI and Property Value

• Calculate Year 1:
  • Potential Gross Revenue (PGR)
  • Vacancy loss
  • Effective Gross Income (EGI)
• Create the operating expense table
• Include management fee as 3.5% of EGI
• Calculate NOI
• Calculate property value using the 5.25% capitalization rate

Q1-3 Tab Loan Analysis

• Calculate:
  • Maximum loan amount based on 75% LTV
  • Maximum annual debt payment allowed based on 1.10 DSCR
  • Loan amount supported by DSCR
  • Which loan constraint controls
  • Whether the deal is feasible under the CFOs financing limits
  • Annual debt service based on the maximum loan
• Include the written analysis of the optimal debt strategy below the calculations

Q1-4 Tab 5-Year Pro Forma

Build the 5-year pro forma using:

• PGI growth of 4% annually
• Operating expense growth of 4% annually
• Exit cap rate of 5.0%
• Selling costs of 6% of sale price
• Discount rate of 9%
• Required rate of return on equity of 12%

Calculate:

• Unleveraged cash flow series
• Leveraged cash flow / investor cash flow series
• Unleveraged IRR
• Leveraged IRR
• Unleveraged NPV
• Leveraged NPV

Synopsis / Recommendation

• Write the required 23 paragraph synopsis and recommendation
• Keep it concise but professional
• Include the key numbers, financing feasibility, return results, and final recommendation

Important

Please make sure the final Excel file:

• Is fully filled out
• Uses formulas throughout
• Looks polished and organized
• Is submission-ready

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