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Brandon Villas of Tampa

Schedule C: Residual Values & IROR's

(column heading(s) indicate method for calculating residual value)

  Ending value input
PROJECT  
165 Capitalized Cost (TCC) 7,140,000
190 Residual Value 11,951,895
195 Land Residual 2,390,379
670 Mtge Amortization 5,140,685
710 Depreciation 3,155,863
   
Developer  
1 196 Equity Residual 1,413,363
1 320 Investment Adj. 104500
1 916 Pre-Tax Present Value 1,051,057
1 926 Pre-Tax Net Cash 2,475,069
   
Lender  
2 670 Mtge Amortization 5,140,685
2 916 Pre-Tax Present Value -98195
2 926 Pre-Tax Net Cash 5,465,228
   
Investor  
3 196 Equity Residual 3,297,847
3 370 Return of Investment 2,100,000
3 880 Inc.Taxes:Equity Residual -1860590
3 916 Pre-Tax Present Value 1,238,315
3 917 After-Tax Present Value 902009
3 926 Pre-Tax Net Cash 5,399,584
3 927 After-Tax Net Cash 3,887,700
   
Other  
4 916 Pre-Tax Present Value -311024
4 926 Pre-Tax Net Cash -160545
   
All Participants  
99 916 Pre-Tax Present Value 1,880,153
99 926 Pre-Tax Net Cash 13,179,336
   
Developer  
1 936 IROR Pre-Tax  
1 938 FMRR Pre-Tax  
   
Lender  
2 936 IROR Pre-Tax 11.6
2 938 FMRR Pre-Tax 13.14
   
Investor  
3 936 IROR Pre-Tax 24.57
3 937 IROR After-Tax 24.44
3 937.1 IROR After-Tax(w/o pass.loss) 20.75
3 938 FMRR Pre-Tax 22.67
3 939 FMRR After-Tax 22.13
3 939.1 FMRR After-Tax(w/o pass.loss) 19.54
   
Other  
4 936 IROR Pre-Tax  
4 938 FMRR Pre-Tax 9.29
   
All Participants  
99 936 IROR Pre-Tax 16.76
99 938 FMRR Pre-Tax 16.95


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