All buildingsTrailing 12
Building
1156 W Devon
1156 W Devon Ave · Edgewater Built 1965 18 units
Ownership
Wholly-owned
Occupancy
88.9%
16 of 18 units occupied
T12 NOI
$188K
Avg rent $1,850 · Cap 6.06%
Valuation
$3.1M
Equity $1.1M · LTV 65%
DSCR
1.21x
Covenant 1.20x · Buffer 1%
T12 NOI
Monthly NOI vs occupancy
Loan
Debt summary
Outstanding
$2,000,000
Rate
5.95%
Maturity
Jan 31, 2031
Months to maturity
56 mo
Annual debt service
$143K
DSCR (covenant 1.20x)
1.21x
Cash Flow
T12 levered waterfall
Net Operating Income
$188,000
(less) Annual debt service
-$143,122
(less) T12 capex
-$19,800
Levered cash flow
$25,078
Available for distributions or capex reserve. Coordinate with waterfall before distributing.
Depreciation
Annual non-cash
$90K
Straight-line, 27.5 years (residential), on building basis of $2.5M.
Building basis (80% of value)
$2.5M
Useful life
27.5 years
Method
GAAP straight-line
Tax shield estimate (37%)
$33K
Cost segregation could accelerate ~20-30% to 5/7/15-year lives. Coordinate with the CPA on bonus depreciation timing.
Rent Roll
Live unit detail
Sample rent roll only loaded for the demo building (1247 N Damen). AppFolio sync will populate the rest.
Capex
Capital projects
YTD $18KT12 $20K
Routine turnover and unit refresh costs. Standard run rate.
Open
$2K
Capex / unit / yr
$1,100
Documents
Linked files
Loan agreement
1156 W Devon Loan Agreement 2025.pdf
AI-parsed
Insurance
1156 W Devon Policy 2026.pdf
AI-parsed