Deal of the Week: Brooklyn Survey

Get ready! The player with the highest score in the fastest time wins $200. The competition ends at 5pm ET today.

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* 1. Name:

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* 2. Email:

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* 3. What is your Project Destined City or Partnering Organization?

New York

Los Angeles

Atlanta

London

Detroit

Baltimore

Washington, D.C.

Management Leadership for Tomorrow

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* 4. Scholarship Payment Info:

Cash App:

PayPal:

Venmo

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Project Notorious Offering Memorandum

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* 5. Based on the proposed financing, what is Loan Principal at 70% LTV?

$2,300,000

$1,495,000

$1,610,000

$1,415,000

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* 6. Based on the rent roll, what is the Financial Vacancy Rate?

8.8%

6.4%

13.8%

9.6%

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* 7. What is the Annual Net Rent?

$129,100

$149,400

$161,007

$174,444

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* 8. What is the Annual Total Expenses?

$20,144

$26,120

$19,707

$12,017

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* 9. What is the Operating Expense Ratio?

17.5%

21.8%

14.2%

19.4%

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* 10. What is the Annual Net Operating Income?

$147,008

$132,600

$123,280

$120,125

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* 11. What is the Implied Cap Rate based on the property's NOI?

5.36%

5.51%

6.17%

4.97%

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* 12. Using the Income Approach, what is the property's value?

$221,726

$2,652,000

$2,218,264

$2,372,441

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* 13. Based on the rental comps, what is the Market Rent for a 3-bedroom unit?

$1,503

$2,782

$2,563

$1,991

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* 14. What is the Market Price Per Square Foot based on the Sales Comps?

$448

$512

$700

$379

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* 15. Using the Sales Comp Approach, what is the property's value?

$2,115,598

$1,692,311

$2,300,000

$1,700,500

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* 16. Based on the financing proposal, what is the property's Annual Debt Service?

$59,720

$43,600

$54,930

$56,350

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* 17. Based on the financing proposal, what is the property's Debt Service Coverage Ratio?

1.78x

2.07x

1.25x

2.19x

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* 18. The property's rents grow by 3% each year. What will be the monthly rent for Unit #2 in September 2021?

$3,004

$2,122

$2,060

$2,000

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* 19. How can the property's NOI be increased? (Choose all correct answers.)

Increase rents by 5%

Decrease debt by 10%

Decrease expenses by $20,000

Increase operating expense ratio by 2%