1007 N Harrison Ave Investment Property - Buy & Hold Fresno, CA House · 4 Beds · 1.5 Baths · 1,620 Sq.Ft. $ 295,400 Purchase Price · $ 295,400 ARV $ 295,400 Cash Needed · $ 1,442/ mo Cash Flow · 5.9% Cap Rate · 5.9% COC Prepared by: Osborn Development, LLC Phone: 559-512-6337 | Email: dave@osborndevelopment.com Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 1 of 12 Property Description ADDRESS Fresno, CA DESCRIPTION Property Type: House Beds / Baths: 4 BR / 1.5 BA Square Footage: 1,620 Year Built: 1923 Parking: Undefined Type Lot Size: 6,350 sq.ft. Zoning: RS5 MLS Number: Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 2 of 12 Purchase Analysis & Returns PURCHASE Purchase Price: $ 295,400 Purchase Costs: + $ 0 Rehab Costs: + $ 0 Total Cash Needed: = $ 295,400 After Repair Value: $ 295,400 ARV Per Square Foot: $ 182.3 Price Per Square Foot: $ 182.3 FINANCING (PURCHASE) Cash Purchase RETURNS & RATIOS (Year 1) Cap Rate (Purchase/ Market): 5.9% / 5.9% Cash on Cash Return: 5.9% Return on Equity: 5.9% Return on Investment: 5.9% Internal Rate of Return: 5.9% Rent to Value: 0.7% Gross Rent Multiplier: 11.56 Equity Multiple: 1.06 Break Even Ratio: 32.3% ASSUMPTIONS & PROJECTIONS Rehab Cost Overrun: 0% Vacancy Rate: 0% Appreciation: 0% Per Year Income Increase: 0% Per Year Expense Increase: 0% Per Year Selling Costs: 0% of Sales Price PURCHASE COSTS Total (0% of Price): $ 0 REHAB COSTS Rehab Costs: $ 0 Cost Overrun (0%): $ 0 Total: $ 0 Total Per Square Foot: $ 0 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 3 of 12 Cash Flow (Year 1) Monthly Yearly CASH FLOW Gross Rent: $ 2,130 $ 25,560 Vacancy (- %): - $ 0 $ 0 Other Income: + $ 0 $ 0 Operating Income: = $ 2,130 $ 25,560 Operating Expenses (32.3%): - $ 688 $ 8,258 Net Operating Income: = $ 1,442 $ 17,302 Cash Flow: = $ 1,442 $ 17,302 Monthly Yearly OTHER INCOME Total: $ 0 $ 0 Monthly Yearly EXPENSES Property Taxes: $ 83 $ 999 Insurance: $ 72 $ 869 Property Management: $ 213 $ 2,556 Maintenance: $ 213 $ 2,556 Capital Expenditures: $ 107 $ 1,278 HOA Fees: $ 0 $ 0 Utilities: $ 0 $ 0 Landscaping: $ 0 $ 0 Accounting & Legal Fees: $ 0 $ 0 Total: $ 688 $ 8,258 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 4 of 12 Buy & Hold Projections APPRECIATION INCOME INCREASE EXPENSE INCREASES SELLING COSTS 0% Per Year 0% Per Year 0% Per Year 0% of Price Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30 INCOME Gross Rent: $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 Vacancy: - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 Vacancy Rate: 0% 0% 0% 0% 0% 0% 0% Other Income: + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 Operating Income: = $ 25,560 = $ 25,560 = $ 25,560 = $ 25,560 = $ 25,560 = $ 25,560 = $ 25,560 Income Increase: 0% 0% 0% 0% 0% 0% 0% EXPENSES Property Taxes: $ 999 $ 999 $ 999 $ 999 $ 999 $ 999 $ 999 Insurance: + $ 869 + $ 869 + $ 869 + $ 869 + $ 869 + $ 869 + $ 869 Property Management: + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 Maintenance: + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 + $ 2,556 Capital Expenditures: + $ 1,278 + $ 1,278 + $ 1,278 + $ 1,278 + $ 1,278 + $ 1,278 + $ 1,278 HOA Fees: + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 Utilities: + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 Landscaping: + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 Accounting & Legal Fees: + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 + $ 0 Operating Expenses: = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 Expense Increase: 0% 0% 0% 0% 0% 0% 0% CASH FLOW Operating Income: $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 $ 25,560 Operating Expenses: - $ 8,258 - $ 8,258 - $ 8,258 - $ 8,258 - $ 8,258 - $ 8,258 - $ 8,258 Expense Ratio: 32.3% 32.3% 32.3% 32.3% 32.3% 32.3% 32.3% Net Operating Income: = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 Cash Flow: = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 = $ 17,302 TAX BENEFITS & DEDUCTIONS Operating Expenses: $ 8,258 $ 8,258 $ 8,258 $ 8,258 $ 8,258 $ 8,258 $ 8,258 Total Deductions: = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 = $ 8,258 EQUITY ACCUMULATION Property Value: $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 Appreciation: 0% 0% 0% 0% 0% 0% 0% Total Equity: = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 5 of 12 Year 1 Year 2 Year 3 Year 5 Year 10 Year 20 Year 30 SALE ANALYSIS Equity: $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 $ 295,400 Selling Costs (0%): - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 - $ 0 Sale Proceeds: = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 = $ 295,400 Cumulative Cash Flow: + $ 17,302 + $ 34,604 + $ 51,906 + $ 86,510 + $ 173,020 + $ 346,040 + $ 519,060 Total Cash Invested: - $ 295,400 - $ 295,400 - $ 295,400 - $ 295,400 - $ 295,400 - $ 295,400 - $ 295,400 Total Profit: = $ 17,302 = $ 34,604 = $ 51,906 = $ 86,510 = $ 173,020 = $ 346,040 = $ 519,060 INVESTMENT RETURNS Cap Rate (Purchase Price): 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% Cap Rate (Market Value): 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% Cash on Cash Return: 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% Return on Equity: 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% Return on Investment: 5.9% 11.7% 17.6% 29.3% 58.6% 117.1% 175.7% Internal Rate of Return: 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% 5.9% FINANCIAL RATIOS Rent to Value: 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% 0.7% Gross Rent Multiplier: 11.56 11.56 11.56 11.56 11.56 11.56 11.56 Equity Multiple: 1.06 1.12 1.18 1.29 1.59 2.17 2.76 Break Even Ratio: 32.3% 32.3% 32.3% 32.3% 32.3% 32.3% 32.3% Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 6 of 12 Recent Comparable Sales Average Sale Price $ 252,000 ($ 197/ sq.ft.) $ 150,000 - $ 340,000 $ 115/ sq.ft. - $ 265/ sq.ft. Estimated Property ARV Based on Average Price/ Sq.Ft. $ 319,100 Property Distance Type Beds Baths Sq.Ft. Sale Price Sale Date Subject Property Fresno, CA 0 mi House Built 1923 4 1.5 1,620 - - A 956 N Thorne Ave Fresno, CA 93728 0.11 mi House Built 1926 3 1 1,770 $ 205,000 $ 116/ sq.ft. 02/10/2022 B 945 N Palm Ave Fresno, CA 93728 0.14 mi House Built 1929 3 1 1,454 $ 166,500 $ 115/ sq.ft. 12/06/2021 C 123 E Dennett Ave Fresno, CA 93728 0.06 mi House Built 1925 3 2 1,454 $ 276,000 $ 190/ sq.ft. 07/15/2021 D 938 N Vagedes Ave Fresno, CA 93728 0.29 mi House Built 1942 3 2 1,622 $ 330,000 $ 203/ sq.ft. 12/15/2021 E 1032 N Thorne Ave Fresno, CA 93728 0.09 mi House Built 1925 3 2 1,336 $ 270,000 $ 202/ sq.ft. 09/29/2021 F 964 N Farris Ave Fresno, CA 93728 0.06 mi House Built 1926 3 2 1,313 $ 260,000 $ 198/ sq.ft. 08/13/2021 G 1320 N Thorne Ave Fresno, CA 93728 0.29 mi House Built 1929 3 1 1,220 $ 321,000 $ 263/ sq.ft. 06/30/2021 H 1279 N Farris Ave Fresno, CA 93728 0.23 mi House Built 1926 3 1 1,164 $ 215,000 $ 185/ sq.ft. 10/22/2021 I 1265 N Thorne Ave Fresno, CA 93728 0.23 mi House Built 1930 3 1 1,210 $ 321,000 $ 265/ sq.ft. 03/22/2022 J 1247 N Thorne Ave Fresno, CA 93728 0.22 mi House Built 1932 2 1 1,764 $ 285,000 $ 162/ sq.ft. 02/16/2022 K 702 N Palm Ave Fresno, CA 93728 0.29 mi House Built 1923 3 1 1,127 $ 289,000 $ 256/ sq.ft. 02/09/2022 L 145 E Dennett Ave Fresno, CA 93728 0.08 mi House Built 1928 3 1 1,124 $ 240,000 $ 214/ sq.ft. 07/16/2021 1265 N Harrison Ave Fresno, CA 93728 0.2 mi House Built 1924 2 1 1,312 $ 340,000 $ 259/ sq.ft. 11/29/2021 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 7 of 12 Property Distance Type Beds Baths Sq.Ft. Sale Price Sale Date M N 967 N Arthur Ave Fresno, CA 93728 0.25 mi House Built 1929 3 1 1,078 $ 205,000 $ 190/ sq.ft. 09/13/2021 O 1123 N Arthur Ave Fresno, CA 93728 0.26 mi House Built 1930 3 1 1,088 $ 235,000 $ 216/ sq.ft. 01/04/2022 P 1283 N Thorne Ave Fresno, CA 93728 0.25 mi House Built 1928 2 1 1,284 $ 270,000 $ 210/ sq.ft. 01/28/2022 Q 1242 N Adoline Ave Fresno, CA 93728 0.23 mi House Built 1929 2 1 1,284 $ 260,000 $ 202/ sq.ft. 07/12/2021 R 980 N Farris Ave Fresno, CA 93728 0.04 mi House Built 1929 3 2 1,086 $ 246,000 $ 227/ sq.ft. 09/21/2021 S 821 N Palm Ave Fresno, CA 93728 0.21 mi House Built 1926 2 1 1,190 $ 150,000 $ 126/ sq.ft. 01/31/2022 T 211 E Alhambra Ave Fresno, CA 93728 0.12 mi House Built 1926 2 1 1,110 $ 155,000 $ 140/ sq.ft. 07/23/2021 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 8 of 12 Recent Comparable Rental Listings Average Listed Rent $ 2,130 ($ 1.24/ sq.ft.) $ 1,000 - $ 3,295 $ 0.86/ sq.ft. - $ 1.68/ sq.ft. Estimated Property Rent Based on Average Rent/ Sq.Ft. $ 2,010 Property Distance Type Beds Baths Sq.Ft. Listed Rent Listing Date Subject Property Fresno, CA 0 mi House Built 1923 4 1.5 1,620 - - A 2724 E Tamarind Dr Fresno, CA 93730 1.03 mi House 4 2.5 2,169 $ 2,550 $ 1.18/ sq.ft. 03/25/2022 B 804 N Van Ness Ave Fresno, CA 93728 0.73 mi House 3 2 1,556 $ 2,200 $ 1.41/ sq.ft. 01/31/2022 C 1112 N San Pablo Ave Fresno, CA 93728 0.92 mi House 3 2 1,529 $ 1,995 $ 1.30/ sq.ft. 03/08/2022 D 1435 N Poplar Ave Fresno, CA 93728 0.89 mi House 3 1 1,488 $ 2,495 $ 1.68/ sq.ft. 10/05/2021 E 514 E Clinton Ave Fresno, CA 93704 1.14 mi House 4 2.5 2,700 $ 3,295 $ 1.22/ sq.ft. 10/07/2021 F 824 N Farris Ave Fresno, CA 93728 0.17 mi House 3 1.5 1,148 $ 1,500 $ 1.31/ sq.ft. 01/11/2022 G 1409 N Roosevelt Ave Fresno, CA 93728 0.48 mi House 3 2 1,277 $ 1,650 $ 1.29/ sq.ft. 03/10/2022 H 1804 E Vassar Ave Unit A Fresno, CA 93703 1.61 mi House 3 2 1,472 $ 1,695 $ 1.15/ sq.ft. 11/23/2021 I 232 N Van Ness Ave Fresno, CA 93701 0.95 mi House 4 3 3,009 $ 2,600 $ 0.86/ sq.ft. 03/26/2022 J 130 N San Pablo Ave Fresno, CA 93701 1.21 mi House 3 2 1,978 $ 1,795 $ 0.91/ sq.ft. 09/15/2021 K 1526 N Palm Ave Fresno, CA 93728 0.56 mi House - - - $ 1,000 12/30/2021 L 1116 W Vassar Ave Fresno, CA 93705 1.31 mi House 3 2 1,305 $ 1,650 $ 1.26/ sq.ft. 12/14/2021 2726 E Tamarind Dr 1.03 mi House 3 2.5 1,894 $ 2,495 04/05/2022 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 9 of 12 Property Distance Type Beds Baths Sq.Ft. Listed Rent Listing Date M Fresno, CA 93730 $ 1.32/ sq.ft. N 585 E Princeton Ave Fresno, CA 93704 1.44 mi House 3 2 2,041 $ 2,350 $ 1.15/ sq.ft. 03/12/2022 O 143 N Calaveras St Fresno, CA 93701 1.29 mi House 5 2 2,125 $ 2,400 $ 1.13/ sq.ft. 10/11/2021 P 115 E Weldon Ave Fresno, CA 93704 0.89 mi Commercial 4 1 1,937 $ 2,800 $ 1.45/ sq.ft. 04/14/2022 Q 2115 N Harrison Ave Fresno, CA 93704 0.95 mi House 3 2 2,343 $ 2,495 $ 1.06/ sq.ft. 10/15/2021 R 646 W Terrace Ave Fresno, CA 93705 1.29 mi House 3 1 1,066 $ 1,375 $ 1.29/ sq.ft. 03/03/2022 S 209 N Diana St Fresno, CA 93701 1.5 mi House 5 3 1,935 $ 2,700 $ 1.40/ sq.ft. 03/09/2022 T 902 N Blackstone Ave Fresno, CA 93701 1.16 mi House - - - $ 1,500 01/07/2022 Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 10 of 12 Property Photos Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 11 of 12 Disclaimer This Report is provided solely for general business information purposes. No advisory, fiduciary or other relationship is created by any acceptance or use of this Report. The inclusion of this Report with any other materials does not constitute an endorsement by the Report Author of any third party or any third party’s products or services. The projected valuation, financial and investment return information, conclusions and other information contained in this Report are based upon tested methodologies for accuracy. However, such information and conclusions are not definitive forecasts, appraisals or opinions of valuations. All such information and conclusions are stated in terms of probability of likelihood based on market factors and information submitted to the Report Author, and such information and conclusions are not guaranteed by the Report Author and should not be construed as a certified appraisal or valuation, or investment advice. The Report Author uses or has used public and/ or confidential data and assumptions provided to the Report Author by third parties, and the Report Author has not independently verified the data and assumptions used in these analyses or data sets. Attributes for properties may be inaccurate because county assessor and property data records do not always include recent additions and/ or modifications to property structures. Changes in the underlying data or operating assumptions, or any loss of access to any one or more sources will clearly impact the analyses, information and conclusions set forth in this Report. DATA SOURCES Comparable sales information and property data is collected from public county records. Comparable rental listings data provided by © RentCast, 2020-2022. Use is subject to RentCast's Terms of Use Property Report for 1007 N Harrison Ave Prepared by Osborn Development, LLC Page 12 of 12