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415 Dewey St 5 Unit Apartment Building $418,636 CAD ($83,727 CAD/Unit) 11% Cap Rate Waycross, GA 31501
EXECUTIVE SUMMARY
5 Turnkey Units in Waycross, GA!
Currently operating at an 11% Cap Rate.
Currently 4 of the 5 units are rented.
Tenants pay electric.
New roof installed in 2018.
Owner only pays for water at $350 per month.
Unit Break Down of Rents:
Unit 1:2/1 Rented for $800 per month
Unit 2:1/2 Rented for $800 per month
Unit 3:2/1 Rented for $750 per month
Unit 4:1/1 Rented for $650 per month
Unit 5:2/2 Currently Vacant. Rental Comps $800 to $850 per month
Annual Expense Analysis (Proposed):
Taxes: $5,746
Insurance: $3,000
Building Maintenance: $1,410
Interior/Exterior Decorating: $940
Cleaning/Supplies: $940
Replacement Reserves:
Flooring: $430
Appliances: $307 (Appliances have an estimated life of 15 years)
HVAC: $400 (A/C has an estimated life of 20 years)
Total: $13,173
INCOME APPROACH:
Total Gross Annual Economic Income (See Rent Schedule) $47,400
Less Forecasted Vacancy and Collection Loss ( 5% ) $2,370
Effective Gross Annual Income $45,030
Less Forecasted Annual Expenses and Replacement Reserves ( 27.79% of Total Gross Annual Economic Income) $13,173
Net Annual Income from Total Property $31,857
The estimated cap rate is 11%. Therefore, $31,857 / 11% = $289,609
Indicated Value by the Cost Approach: $394,000
Indicated Value by the Market Approach: $412,000
Indicated Value by the Income Approach: $290,000
Currently operating at an 11% Cap Rate.
Currently 4 of the 5 units are rented.
Tenants pay electric.
New roof installed in 2018.
Owner only pays for water at $350 per month.
Unit Break Down of Rents:
Unit 1:2/1 Rented for $800 per month
Unit 2:1/2 Rented for $800 per month
Unit 3:2/1 Rented for $750 per month
Unit 4:1/1 Rented for $650 per month
Unit 5:2/2 Currently Vacant. Rental Comps $800 to $850 per month
Annual Expense Analysis (Proposed):
Taxes: $5,746
Insurance: $3,000
Building Maintenance: $1,410
Interior/Exterior Decorating: $940
Cleaning/Supplies: $940
Replacement Reserves:
Flooring: $430
Appliances: $307 (Appliances have an estimated life of 15 years)
HVAC: $400 (A/C has an estimated life of 20 years)
Total: $13,173
INCOME APPROACH:
Total Gross Annual Economic Income (See Rent Schedule) $47,400
Less Forecasted Vacancy and Collection Loss ( 5% ) $2,370
Effective Gross Annual Income $45,030
Less Forecasted Annual Expenses and Replacement Reserves ( 27.79% of Total Gross Annual Economic Income) $13,173
Net Annual Income from Total Property $31,857
The estimated cap rate is 11%. Therefore, $31,857 / 11% = $289,609
Indicated Value by the Cost Approach: $394,000
Indicated Value by the Market Approach: $412,000
Indicated Value by the Income Approach: $290,000
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $418,636 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $83,727 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.33 AC |
| Cap Rate | 11% | Building Size | 6,294 SF |
| No. Units | 5 | Average Occupancy | 80% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1898 |
| Zoning | R - Residential | ||
| Price | $418,636 CAD |
| Price Per Unit | $83,727 CAD |
| Sale Type | Investment |
| Cap Rate | 11% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.33 AC |
| Building Size | 6,294 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built | 1898 |
| Zoning | R - Residential |
AMENITIES
UNIT AMENITIES
- Heating
- Ceiling Fans
- Refrigerator
- Carpet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | - |
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415 Dewey St
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