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Proforma

Proforma · 118 acres property in The Pocono Mountains, Smithfield Township, Monroe county, Pennsylvania in front of Sun view community @ Nebo Mountain Shawnee on Delaware PA 18356 · Block 55,56,57,65,66,67 & 47 of lot #7676 on the tax map of Smithfield township, Monroe County, Pennsylvania as certified on May, 1994 Serial 7323 · 20-30 degrees slope on certain areas of the property · Front neighbor is a local elementary School · Right door neighbor is time share villas · Left door neighbor is a private special school for behavioral problem kids · Only 50’ next to the river frontage are wetlands due to a sudden slope that put the rest of the property 30-40’ above river level Overview of neighborhood and surrounding area · Center location, next to mayor routes of transportation, entertainment centers, Hospitals and educational facilities · Property mean house value in Smithfield township is more than double of that of the state of Pennsylvania (131,800 vs. 69,700) · Slope create the opportunities for beautiful views increasing the property value of those houses placed on the right spot · Monroe county growth is expected to be 49% between 1990 and 2010 · School system is one of the top in the state with 26 or less students per classroom when the rest of the state has 30 or more · SAT scores are above average compared with the rest of the state 1320 vs. 1300 in Mathematics and 1360 vs. 1300 in reading · Public sewer and water is available · 95,700 persons live in Monroe county · Monroe county growth is expected to be 49% between 1990 and 2010 · More than half of the residents of the county commute to New Jersey for employment (The area is highly desirable because of the quality of life) · One in every four persons have relocated from New York and New Jersey This property, is ideally suited for the development of a Multi-Family Dwelling units for modern commuting professionals. The area as stated above is conveniently located close to all modes of communication and transportation into mayor metropolitan areas in the area. Sixty miles from downtown New York City, nighty miles from Philladelphia this area convines the higher quality of life of a quiet community well know for the beuty of it’s outdoors and the commodities and services of the largest metropolitan areas in the northeastern part of the Unites States. Also the current and proposed activity development for Monroe county is a catalyst for further, successful development of a residential community which attracks professionals families to the inmidiate area becoming an example of an innovative community The site is zoned Residential 1 under the zoning ordinance of Smithfield Township, Pennsylvania, County of Monroe. o Depth (ft.) 110’ Not applicable for multi-family Not Applicable Minimum of three parking Max. of one parking space per rental unit. Acquisition: $350,000. (asking price is 450,000. Assumed $430,000 after negotiations) Apartments: Monthly Income Annual Income Note: Rental rates are derived from comparables found on the Internet. *Heat and Electric utilities shall be paid by the tenants. Expenses total 10% of Potential Gross Income. Mortgage Value is 93.3% of the Economic Value of the Project. It should fall somewhere around 75%. Hard & Soft Cost/31.5 years $425,742.25 Sale Price equals the $6,504,000.00 The net proceeds from the sale of this newly developed property have a higher return on investment than the rental of each unit. Bibliography:

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