ABCD Econo   Brooksville, FL
FINANCING SUMMARY

SUMMARY   Price : $1,400,000       Down Payment : 30% $420,000       Number of Units : 178       Rentable Square Feet : 28,105       Price/Rentable Square Foot : $49.81       Current CAP Rate : 8.07%       Pro Forma CAP Rate : 12.33%       Current Net Cash Flow After Debt Service : 7.56% $31,749       Pro Forma Net Cash Flow After Debt Service : 21.74% $91,314       Year Built : 2005       Lot Size : 2.4 (MOL) Acres       Type of Ownership : Fee Simple

ANNUALIZED OPERATING DATA
INCOME		Current	Pro Forma
Gross Potential Rent		$297,636	$297,636
Other Income		15,923	16,401
Gross Potential Income		$313,559	$314,037
Less: Vacancy/Deductions	45%	133,884	20%	59,527
Effective Gross Income		$179,675	$254,510
Less: Expenses		66,675	81,945
Net Operating Income		$113,000	$172,565
Debt Service
Net Cash Flow After Debt Service		$113,000		$172,565
Principal Reduction
Total Return		$113,000		$172,565

ANNUALIZED EXPENSES
EXPENSES	Current	Pro Forma
Real Estate Taxes	$15,528	$18,528
Insurance	6,000	6,000
Utilities	6,120	6,120
Repairs & Maintenance	4,216	4,216
On-Site Payroll	26,000	26,000
Management Fee	0	15,271
General & Administration	1,200	1,200
Replacements & Reserves	2,811	2,811
Telephone	1,800	1,800
TOTAL EXPENSES	$63,675	$81,946
% of EGI	37.1%	32.2%