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Cortland Row
800 Hillsborough St, Raleigh, NC 27603
Units120
Year built2019
Asking price$24,000,000
Price / unit$200,000
Data sourceMANUAL
IMF Deal Score
Elevated Risk
Data Confidence: 7.5/10
Operating snapshot (as reported, before your assumptions)
Gross scheduled income$2,160,000
Other income$90,000
Vacancy4.5%
Effective gross income$2,152,800
Operating expenses$780,000
Expense ratio36%
Net operating income$1,372,800
Going-in cap rate5.7%
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Assumptions
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Property
Financing
Growth
IMF Deal Score
Elevated Risk
Informational only — not a recommendation to buy or sell. Data Confidence is shown separately below.
Cap Rate5.7%
Cash-on-Cash3.0%
DSCR1.22
Debt Yield8.8%
NOI$1,372,800
Annual Cash Flow$250,441
Monthly Debt Service$93,530
Break-even Occupancy85%
Price / Unit$200,000
Loan Amount$15,600,000
Down Payment$8,400,000
Effective Gross Income$2,152,800
Score breakdown
Financial Return10.4 / 35
Cap rate 5.7% and cash-on-cash 3.0%.
Debt Resilience8.2 / 25
DSCR 1.22, debt yield 8.8%, break-even occupancy 85%.
Market Fundamentals17.4 / 20
Raleigh, NC: rent growth 4.2%, vacancy 4.5%, job growth 3.2%.
Acquisition Basis0 / 10
$200,000/unit vs market median $160,000 (+25%).
Data Confidence7.5 / 10
Source MANUAL, 100% of key fields present, financials unverified.
5-year projection
| Year | NOI | Cash Flow |
|---|---|---|
| Year 1 | $1,372,800 | $250,441 |
| Year 2 | $1,443,718 | $321,359 |
| Year 3 | $1,517,945 | $395,587 |
| Year 4 | $1,595,630 | $473,272 |
| Year 5 | $1,676,926 | $554,568 |