| 5 years cash flow and investor return: 1 bedroom+study
apartment
Assumptions: Average sale price: $318,5000, 85% bank loan,
3% rental growth as from year 4
|
|
| Year |
|
2003/2004 |
2004/2005 |
2005/2006 |
2006/2007 |
2007/2008 |
|
| Deposit |
15% |
-$47,775 |
|
| legal/duty |
5% |
-$15,925 |
|
| Total equity |
|
-$63,700 |
|
|
|
| Bank loan |
|
$270,725 |
|
|
|
| net annual gross rental |
|
| |
$335 |
$17,420 |
|
$17,420 |
|
$17,420 |
|
$17,940 |
|
$18,400 |
|
|
| annual
interest payment assuming 5 yrs fixed rate |
| |
6.25% |
-$16,920 |
|
-$16,920 |
|
-$16,920 |
|
-$16,920 |
|
-$16,920 |
| |
|
|
|
|
| Plant & equip. depreciation |
-$5,453 |
|
-$4,226 |
|
-$3,349 |
|
-$2,707 |
|
-$2,227 |
| Building write off |
-$3,200 |
|
-$3,200 |
|
-$3,200 |
|
-$3,200 |
|
-$3,200 |
| water/council rate |
-$800 |
|
-$810 |
|
-$820 |
|
-$830 |
|
-$840 |
| Owners corp. levies |
-$2,000 |
|
-$2,200 |
|
-$2,250 |
|
-$2,300 |
|
-$2,350 |
| Taxable income |
-$10,953 |
|
-$9,936 |
|
-$9,119 |
|
-$8,017 |
|
-$7,137 |
|
|
| Tax refund at 48.50% |
-$5,312 |
|
-$4,818 |
|
-$4,422 |
|
-$3,888 |
|
-$3,461 |
|
|
| After tax cash position |
$3,012 |
|
$2,308 |
|
$1,852 |
|
$1,778 |
|
$1,751 |
|
|
| Property capital gain estimate (based
on 3% p.a) |
| |
|
$328,055 |
|
$337,897 |
|
$348,034 |
|
$358,475 |
|
$369,229 |
|
|
|
