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Date: 8/02/02 GMHC RESIDENTIAL PRO FORMA - Market Transaction Property Address: 2012 Eldridge Ave, Rsvl., MN Building Type: Single Family 2-Story w/1500 Finished SF Base Construction Costs (a.) Contractor base price (b.) GMHC lumber package (c.) GMHC cabinets and tops (d.) GMHC security system Total Base Construction Cost Uparades (e.) Hardwood flooring (f.) Gas fireplace (g.) Rear deck (h.) Concrete driveway (i.) Upgrade carpet! vinyl U.) Upgrade landscaping (k.) Air Conditioning (I.) Appliances (m.) Upgrade cabinets and tops Total Upgrades (1) Total Construction Costs with Upgrades (2.) Contingency (5% of construction costs) (3.) Marketing (3.5% of Appraised Value) Soft Costs (a.) Financing interest (2.5 % for est. 6 months) (b.) Property taxes (c.) Insurance (d.) Title and recording (e.) Legal fees (f.) Points construction/mortgage loans (g.) Closing costs (h.) Appraisals (I.) Utilities U.) Property management (est. 3 months) (k.) Architect fees (4.) Total Soft Costs (a - k ) (5.) Developer fee ($10,000) (6.) Acquisition (7.) Demolition and site prep. (8.) Relocation (A.) Total Development Costs ( 1 - 8 ) (B.) Affordable Sale Price (C.) Net Income or Deficit (B - A) $94,500 $24,750 $3,975 $1,025 $124,250 $0 $0 $4,000 $0 $0 $2,000 $2,200 $0 !Q $8,200 $1,856 $300 $350 $600 $0 $0 $850 $350 $600 $600 $2,000 $132,450 $6,623 $4,636 $7,506 $10,000 $143,000 $7,000 $0 $311,215 $180,000 31,215)