4895 Winton Ridge Lane | Caleb Diehm

4895 Winton Ridge Ln. Cincinnati, OH 45232 Caleb Edward Diehm

Existing South Facade

Caleb Edward Diehm

4895 Winton Ridge Ln. Cincinnati, OH 45232 1,130 SF - 2 BD, 2 BA

Caleb Edward Diehm

Old, New, and Removed

0’

5’

25’

Caleb Edward Diehm

Floor Plan

0’

5’

25’

Caleb Edward Diehm

South Elevation 0’

5’

25’

Caleb Edward Diehm

Longitudinal Section 0’

5’

25’

Caleb Edward Diehm

East Elevation 0’

5’

25’

Caleb Edward Diehm

Transverse Section 0’

5’

25’

Caleb Edward Diehm

North Elevation 0’

5’

25’

Caleb Edward Diehm

West Elevation 0’

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25’

Caleb Edward Diehm

South Facade

Caleb Edward Diehm

Living Room

Caleb Edward Diehm

Kitchen and Dining

Caleb Edward Diehm

Master Bedroom

Caleb Edward Diehm

North Facade

Caleb Edward Diehm

3385 Creek Rd. Sharonville, OH 45241 Caleb Diehm

7,308sf, 3 floors - 0.41 acre lot Asking - $372,900 ($52/SF)

Caleb Edward Diehm

2 gyms, 1 office space 17 parking spaces (2.19/1,000sf) Clear ceiling height 15ft Cap rate: 10.59% Currently zoned as Health Club / Retail

Caleb Edward Diehm

Improvements Assessment - $45,000 Land Assessment - $35,735 Major Construction: - 18 exterior openings (17 windows, 1 door) - 4 new/ 2 renovated bathrooms - 2 exterior stairs to above-ground level Caleb Edward Diehm

A: 3 bed, 2 bath 1,245sf

Sale: $135,000 - $155,000 ($125 - $145/sf) B: 2 bed, 1 bath 1,065sf

Rent: $1,500/month C: Office (below) 2,352sf

Rent: $5,000/month ($25 sf/year) A

B

B

A

C

Floor plan 0’

10’

50’

Caleb Edward Diehm

New Entrances Caleb Edward Diehm

North elevation

South facing section 0’

5’

25’

Caleb Edward Diehm

East elevation

West facing section 0’

5’

25’

Caleb Edward Diehm

South elevation

West Elevation 0’

5’

25’

Caleb Edward Diehm

North Elevation Caleb Edward Diehm

Apartment Interior Caleb Edward Diehm

Office Entrance Caleb Edward Diehm

South Elevation Caleb Edward Diehm

FREE REAL ESTATE PRO-FORMA Instructions: Only fill out and change the yellow cells on every tab, as everything else will automatically populate Key Assumptions Interest Rate 5.25% Amortization Period 20 (years)

Address

Sanctuary

Percentage Down 25%

Gymansium

Closing Costs 3% Rental Increase 2% Projections Operating Expense 2% Projections

Address Address

Vacancy Rate 10%

Address

Income Taxes 33%

Address Address

Monthly Operating Expense Assumptions Repairs & $100 Maintenance per unit Property Mangement 5% Fees Property Taxes Insurance cost multiple Salaries and Wages Utilities

3 beds 2 baths, 1,245 sq ft 2 beds 1 baths, 1,065 sq ft

Office

House Price 5% Appreciation

Address

Number of Units

Size

Office x beds x baths, xxxx sq ft x beds x baths, xxxx sq ft x beds x baths, xxxx sq ft x beds x baths, xxxx sq ft x beds x baths, xxxx sq ft x beds x baths, xxxx sq ft

Purchase Price

Target Properties Pre-Tax Cashflow From Ops

Annualized IRR

Monthly Rent Per Unit

Year 1

Year 2

Year 3

Year 4

Year 5

Year 1

Year 3

Notes

Year 5

2

$

150,912

$

1,250

$70,520

$72,113

$73,739

$75,397

$77,087

192.86% 193.88% 188.77%

2

$

150,912

$

1,500

$16,256

$16,764

$17,282

$17,811

$18,350

50.38%

1

$

150,912

$

5,500

$42,956

$43,998

$45,061

$46,145

$47,251

120.48% 124.89% 118.63%

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60.73%

####### # ####### # ####### # ####### # ####### # ####### #

55.11%

####### # ####### # ####### # ####### # ####### # ####### #

363.72%

0.13% 0.03% $0 $0

Trash Removal $0 Professional Fees $0 Advertising $0 Other $0

Subject Property

Sanctuary URL 3 beds 2 baths, 1,245 sq ft Description Cost and Revenue Assumptions

Financing Assumptions

Land Building Improvements Closing Costs Total

$ 11,912 $ 124,000 $ 15,000 $ 357 $ 151,269

Total Purchase Owner's Equity Amt to Finance

Number of Units Average Monthly Rent Gross Monthly Rent

2 $ 4,160 $ 8,320

Interest Rate Amort Period Payment

Rental Increase Projections Average Monthly Rent Operating Expense Projections Operating Revenues Gross Scheduled Rental Income LESS Vacancy Rate Net Rental Income Other Income Gross Income Operating Expenses Repairs and Maintenance Property Mangement Fees Property Taxes Insurance Salaries and Wages Utilities Trash Removal Professional Fees Advertising Other Total Operating Expenses Net Operating Income

100.0%

Actual Monthly 8,320 (832) 7,488 7,488

2.7% 5.6% 2.5% 0.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 11.3%

200 416 189 44 0 0 0 0 0 0 849

10%

88.7%

Cash Flow From Operations Total Cash Available for Debt Servicing LESS Debt Service Remaining Pre-Tax CF From Ops. Plus Principal Reduction Total Return

Net Operating Income LESS Interest on Loan LESS Dep. Exp. - Building LESS Dep. Exp. - Improvements Net Income Before Taxes LESS Income Taxes @ Net Income After Taxes

6.5%

33%

Total Cash Available for Debt Servicing LESS Debt Service LESS Income Taxes Remaining After Tax CF From Ops. Plus Principle Reduction Total Return

Annual Monthly 5.250% 0.438% 20 240 $ 9,152 $ 763

Total Square Feet Avg Sq Ft/Unit Total Price/Sq Ft Avg Rent/Sq Ft Avg Unit Cost Capitalization Rate Gross Rent Multiplier Op Exp/Unit Op Exp/Sq Ft

2,490 1,245.00 $ 60.61 $ 3.34 $ 75,455.83 52.79% 1.51 $ 5,091.93 $ 4.09

0.00% 4,160 0.00%

2.00% 4,243 2.00%

2.00% 4,243 2.00%

2.00% 4,328 2.00%

2.00% 4,415 2.00%

Year 1 99,840 (9,984) 89,856 89,856

Year 2 101,837 (10,184) 91,653 91,653

Projected Year 3 103,874 (10,387) 93,486 93,486

Year 4 105,951 (10,595) 95,356 95,356

Year 5 108,070 (10,807) 97,263 97,263

Rental Increase Projections Average Monthly Rent Operating Expense Projections Operating Revenues Gross Scheduled Rental Income LESS Vacancy Rate Net Rental Income Other Income Gross Income Operating Expenses Repairs and Maintenance Property Mangement Fees Property Taxes Insurance Salaries and Wages Utilities Trash Removal Professional Fees Advertising Other Total Operating Expenses

2,448 5,092 2,309 539 10,388

2,497 5,194 2,355 550 10,595

2,547 5,298 2,402 561 10,807

2,598 5,404 2,450 572 11,023

6,639

79,672

81,266

82,891

84,549

86,240

6,639 (763) 5,877 273 6,150

79,672 (9,152) 70,520 3,288 73,808

81,266 (9,152) 72,113 3,465 75,579

82,891 (9,152) 73,739 3,652 77,390

84,549 (9,152) 75,397 3,848 79,245

86,240 (9,152) 77,087 4,055 81,142

Cash Flow From Operations Total Cash Available for Debt Servicing LESS Debt Service Remaining Pre-Tax CF From Ops. Plus Principal Reduction Total Return

6,639 (489) (376) (45) 5,729 (1,891) 3,838

Tax Scenario 79,672 (5,864) (4,509) (545) 68,754 (22,689) 46,065

81,266 (5,687) (4,509) (545) 70,524 (23,273) 47,251

82,891 (5,501) (4,509) (545) 72,336 (23,871) 48,465

84,549 (5,304) (4,509) (545) 74,190 (24,483) 49,707

86,240 (5,097) (4,509) (545) 76,088 (25,109) 50,979

Net Operating Income LESS Interest on Loan LESS Dep. Exp. - Building LESS Dep. Exp. - Improvements Net Income Before Taxes LESS Income Taxes @ Net Income After Taxes

6,639 (763) (1,891) 3,986 273 4,260

79,672 (9,152) (22,689) 47,831 3,288 51,120

81,266 (9,152) (23,273) 48,840 3,465 52,306

82,891 (9,152) (23,871) 49,868 3,652 53,520

84,549 (9,152) (24,483) 50,914 3,848 54,762

86,240 (9,152) (25,109) 51,978 4,055 56,033

Total Cash Available for Debt Servicing LESS Debt Service LESS Income Taxes Remaining After Tax CF From Ops. Plus Principle Reduction Total Return

Year 1 8.71 0.22

Year 2 8.88 0.21

Year 3 9.06 0.21

Year 4 9.24 0.21

266.58% 186.92% 195.63%

270.86% 191.14% 200.33%

275.22% 195.45% 205.13%

279.64% 199.84% 210.04%

284.14% 204.32% 215.07%

Net Operating Income ROI Cash ROI Total ROI

(38,085) (38,085) (38,085)

111,536 70,520 70,520

72,113 72,113

145,659 73,739

75,397

174,818

Net CFs From Investment - 1 Yr Exit Net CFs From Investment - 3 Yr Exit Net CFs From Investment - 5 Yr Exit

Exit Price 150,912 174,699 192,606

Gain on Sale 23,787 41,694

Net Operating Income ROI Cash ROI Total ROI

Estimated Exit Price/Gain On Sale - 1 Yr Estimated Exit Price/Gain On Sale - 3 Yr Estimated Exit Price/Gain On Sale - 5 Yr

100.00% $ 150,912 25.00% $ 37,728 75.00% $ 113,184

2,400 4,992 2,264 528 10,184

Debt Servicing Ratio Break-Even Ratio

Net CFs From Investment - 1 Yr Exit Net CFs From Investment - 3 Yr Exit Net CFs From Investment - 5 Yr Exit

Key Ratios

Subject Property Basis for Rental Price Projection Zillow URL #1Gymansium URL - sq ft 2 beds 1 baths, 1,065 sq ft $ - mo Description Zillow URL #1 -Financing Assumptions sq ft Cost and Revenue Assumptions $ - mo Land $ 11,912 Total Purchase 100.00% $ 150,912 Zillow URL #1Building $ 124,000 Owner's Equity 25.00% $ 37,728 - sq ft Improvements $ 15,000 Amt to Finance 75.00% $ 113,184 $ - mo Closing Costs $ 357 Total $ 151,269 Annual Monthly Number of Units 2 Interest Rate 5.250% 0.438% Average Monthly Rent $ 1,500 Amort Period 20 240 Gross Monthly Rent $ 3,000 Payment $ 9,152 $ 763

Cap Rate 52.79% 47.45% 44.78%

Annualized IRR - 1 Yr Annualized IRR - 3 Yr Annualized IRR - 5 Yr

Year 5

9.42 0.21

IRR 192.86% 193.88% 188.77%

Net Operating Income

100.0%

Actual Monthly 3,000 (300) 2,700 2,700

7.4% 5.6% 7.0% 1.6% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 21.6%

200 150 189 44 0 0 0 0 0 0 583

10%

78.4%

18.1%

33%

Notes Difficult to find accurate rentals for comparison

Total Square Feet Avg Sq Ft/Unit Total Price/Sq Ft Avg Rent/Sq Ft Avg Unit Cost Capitalization Rate Gross Rent Multiplier Op Exp/Unit Op Exp/Sq Ft

2,130 1,065.00 $ 70.85 $ 1.41 $ 75,455.83 16.84% 4.19 $ 3,495.93 $ 3.28

0.00% 1,500 0.00%

2.00% 1,530 2.00%

2.00% 1,530 2.00%

2.00% 1,561 2.00%

2.00% 1,592 2.00%

Year 1 36,000 (3,600) 32,400 32,400

Year 2 36,720 (3,672) 33,048 33,048

Projected Year 3 37,454 (3,745) 33,709 33,709

Year 4 38,203 (3,820) 34,383 34,383

Year 5 38,968 (3,897) 35,071 35,071

Rental Increase Projections Average Monthly Rent Operating Expense Projections Operating Revenues Gross Scheduled Rental Income LESS Vacancy Rate Net Rental Income Other Income Gross Income Operating Expenses Repairs and Maintenance Property Mangement Fees Property Taxes Insurance Salaries and Wages Utilities Trash Removal Professional Fees Advertising Other Total Operating Expenses

2,400 1,800 2,264 528 6,992

2,448 1,836 2,309 539 7,132

2,497 1,873 2,355 550 7,274

2,547 1,910 2,402 561 7,420

2,598 1,948 2,450 572 7,568

2,117

25,408

25,916

26,435

26,963

27,503

2,117 (763) 1,355 273 1,628

25,408 (9,152) 16,256 3,288 19,544

25,916 (9,152) 16,764 3,465 20,229

26,435 (9,152) 17,282 3,652 20,934

26,963 (9,152) 17,811 3,848 21,659

27,503 (9,152) 18,350 4,055 22,405

Cash Flow From Operations Total Cash Available for Debt Servicing LESS Debt Service Remaining Pre-Tax CF From Ops. Plus Principal Reduction Total Return

2,117 (489) (376) (45) 1,207 (398) 809

Tax Scenario 25,408 (5,864) (4,509) (545) 14,490 (4,782) 9,708

25,916 (5,687) (4,509) (545) 15,175 (5,008) 10,167

26,435 (5,501) (4,509) (545) 15,880 (5,240) 10,639

26,963 (5,304) (4,509) (545) 16,605 (5,480) 11,125

27,503 (5,097) (4,509) (545) 17,351 (5,726) 11,625

Net Operating Income LESS Interest on Loan LESS Dep. Exp. - Building LESS Dep. Exp. - Improvements Net Income Before Taxes LESS Income Taxes @ Net Income After Taxes

2,117 (763) (398) 956 273 1,230

25,408 (9,152) (4,782) 11,474 3,288 14,763

25,916 (9,152) (5,008) 11,756 3,465 15,222

26,435 (9,152) (5,240) 12,042 3,652 15,694

26,963 (9,152) (5,480) 12,332 3,848 16,180

27,503 (9,152) (5,726) 12,625 4,055 16,680

Total Cash Available for Debt Servicing LESS Debt Service LESS Income Taxes Remaining After Tax CF From Ops. Plus Principle Reduction Total Return

Year 1 2.78 0.50

Year 2 2.83 0.49

Year 3 2.89 0.49

Year 4 2.95 0.48

105.83% 43.09% 51.80%

106.90% 44.43% 53.62%

107.97% 45.81% 55.49%

109.05% 47.21% 57.41%

110.13% 48.64% 59.39%

Net Operating Income ROI Cash ROI Total ROI

(38,085) (38,085) (38,085)

57,272 16,256 16,256

16,764 16,764

89,203 17,282

17,811

116,081

Net CFs From Investment - 1 Yr Exit Net CFs From Investment - 3 Yr Exit Net CFs From Investment - 5 Yr Exit

Exit Price 150,912 174,699 192,606

Gain on Sale 23,787 41,694

Debt Servicing Ratio Break-Even Ratio

Estimated Exit Price/Gain On Sale - 1 Yr Estimated Exit Price/Gain On Sale - 3 Yr Estimated Exit Price/Gain On Sale - 5 Yr

Key Ratios

Basis for Rental Price Projection Subject Property Zillow URL #1Office - sq ft URL $ - mo Office Description Zillow URL #1 Cost and Revenue Assumptions - Financing Assumptions sq ft $ - mo Land $ 11,912 Total Purchase 100.00% $ 150,912 $ 124,000 Owner's Equity 25.00% $ 37,728 Zillow URL #1Building Improvements $ 15,000 Amt to Finance 75.00% $ 113,184 - sq ft Closing Costs $ 357 $ - mo Total $ 151,269 Annual Monthly Number of Units 1 Interest Rate 5.250% 0.438% Average Monthly Rent $ 5,500 Amort Period 20 240 Gross Monthly Rent $ 5,500 Payment $ 9,152 $ 763

Cap Rate 16.84% 15.13% 14.28%

Annualized IRR - 1 Yr Annualized IRR - 3 Yr Annualized IRR - 5 Yr

Year 5

IRR

3.01 0.48

50.38% 60.73% 55.11%

Net Operating Income

$ Zillow URL #1

Key Ratios Total Square Feet Avg Sq Ft/Unit Total Price/Sq Ft Avg Rent/Sq Ft Avg Unit Cost Capitalization Rate Gross Rent Multiplier Op Exp/Unit Op Exp/Sq Ft

2,352 2,352.00 $ 64.16 $ 2.34 $ 150,911.67 34.53% 2.29 $ 7,291.87 $ 3.10

0.00% 5,500 0.00%

2.00% 5,610 2.00%

2.00% 5,610 2.00%

2.00% 5,722 2.00%

2.00% 5,837 2.00%

Year 1 66,000 (6,600) 59,400 59,400

Year 2 67,320 (6,732) 60,588 60,588

Projected Year 3 68,666 (6,867) 61,800 61,800

Year 4 70,040 (7,004) 63,036 63,036

Year 5 71,441 (7,144) 64,296 64,296

100.0%

Actual Monthly 5,500 (550) 4,950 4,950

2.0% 5.6% 3.8% 0.9% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 12.3%

100 275 189 44 0 0 0 0 0 0 608

1,200 3,300 2,264 528 7,292

1,224 3,366 2,309 539 7,438

1,248 3,433 2,355 550 7,586

1,273 3,502 2,402 561 7,738

1,299 3,572 2,450 572 7,893

10%

87.7%

9.9%

33%

4,342

52,108

53,150

54,213

55,298

56,404

4,342 (763) 3,580 273 3,853

52,108 (9,152) 42,956 3,288 46,244

53,150 (9,152) 43,998 3,465 47,463

54,213 (9,152) 45,061 3,652 48,713

55,298 (9,152) 46,145 3,848 49,993

56,404 (9,152) 47,251 4,055 51,306

4,342 (489) (376) (45) 3,432 (1,133) 2,299

Tax Scenario 52,108 (5,864) (4,509) (545) 41,190 (13,593) 27,597

53,150 (5,687) (4,509) (545) 42,409 (13,995) 28,414

54,213 (5,501) (4,509) (545) 43,658 (14,407) 29,251

55,298 (5,304) (4,509) (545) 44,939 (14,830) 30,109

56,404 (5,097) (4,509) (545) 46,252 (15,263) 30,989

4,342 (763) (1,133) 2,447 273 2,721

52,108 (9,152) (13,593) 29,363 3,288 32,652

53,150 (9,152) (13,995) 30,003 3,465 33,468

54,213 (9,152) (14,407) 30,654 3,652 34,306

55,298 (9,152) (14,830) 31,316 3,848 35,164

56,404 (9,152) (15,263) 31,988 4,055 36,043

Year 1 5.69 0.28

Year 2 5.81 0.27

Year 3 5.92 0.27

Year 4 6.04 0.27

184.55% 113.86% 122.57%

187.19% 116.62% 125.80%

189.87% 119.44% 129.12%

192.59% 122.31% 132.51%

43,998 43,998

116,982 45,061

46,145

Debt Servicing Ratio Break-Even Ratio

Estimated Exit Price/Gain On Sale - 1 Yr Estimated Exit Price/Gain On Sale - 3 Yr Estimated Exit Price/Gain On Sale - 5 Yr

(38,085) (38,085) (38,085)

83,972 42,956 42,956

Exit Price 150,912 174,699 192,606

Gain on Sale 23,787 41,694

Cap Rate 34.53% 31.03% 29.28%

Annualized IRR - 1 Yr Annualized IRR - 3 Yr Annualized IRR - 5 Yr

Year 5

$ Zillow URL #1

$

6.16 0.27

195.34% 125.24% 135.99%

144,982 IRR 120.48% 124.89% 118.63%

Notes

Notes Difficult to find accurate rentals for comparison

Zillow URL #1

Difficult to find accurate rentals for comparison

Caleb Edward Diehm

A

B

B

C

A

7,308sf, 3 floors - 0.41 acre lot All new windows (17 new openings), 1 new door, 2 new exterior stairs Gym A: Renovate into and sell off 2 apartments (3 bed, 2 bath) Gym B: Renovate into 2 apartments (2 bed, 1 bath) Office C: Renovate bathrooms and entrance for white box Caleb Edward Diehm