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HomeMy WebLinkAboutCRA-R-25-0030 Rent Loss 2048-2055Avg. Market Rent (Studio): Target Market Rent (1BD): Target Market Rent (2BD): $2,500 $3,000 Total Units Total Studio Units 60% 13 3 80% 25 5 100% 38 8 120% 50 10 140% 126 28 252 54 2 Max. Studio Rent NR Investments 11 LLC Project: 17th Street Apartments 2047 Financial Analysis Studio Rent Loss P/U Yearly Studio Rent Loss Total 1BD Units Max. 1BD Rent 1BD Rent Loss Yearly 1BD Rent Loss 1302 ($1,198) ($43,128) 10 1394 ($1,606) ($192,720) 1736 ($764) ($45,840) 20 1859 ($1,141) ($273,840) 2170 ($330) ($31,680) 30 2324 ($676) ($243,360) 2604 $0 $0 40 2788 ($212) ($101,760) 3038 $o $0 98 3253 $o $o Total Studio Rent Loss: ($120,648) 198 Total 1BD Rent Loss: ($811,680) 3 4 5 6 7 8 Tax Years 2025 2026 2027 2028 2029 2030 2031 2032 Mnual Rent Loss: ($932,328) ($960,298) ($989,107) ($1,018,780) ($1,049,343) ($1,080,824) ($1,113,248) ($1,146,646) 9 10 11 12 13 14 15 16 Tax Years 2033 Mnual Rent Loss: ($1,181,045) Tax Years 2034 ($1,216,477) 2035 2036 2037 2038 2039 2040 ($1,252,971) 0,290,560) 0,329,277) 0,369,155) 0,410,230) 0,452,537) 17 18 19 20 21 22 23 ($8,290,574) Total ($10,502,251) 2041 2042 2043 2044 2045 2046 2047 Total Mnual Rent Loss: ($1,496,113) ($1,540,996) ($1,587,226) ($1,634,843) ($1,683,888) ($1,734,405) ($1,786,437) ($11,463,907) Total Rent Loss: ($30,256,732) 24 25 27 28 29 30 31 2048 2049 2051 2052 2053 2054 2055 Total Mnual Rent Loss: ($1,840,030) ($1,895,231) ($1,952,088) ($2,010,650) ($2,070,970) ($2,133,099) ($2,197,092) ($14,099,160) Total Rent Loss 2048-2055 ($14,099,160)I Total Rent Loss Combined: ($43,467,481)