Real Estate Expense Statement
Property Name: Greenview Apartments
Property Address: 123 Greenview Lane, Springfield, IL 62704
Owner Name: Camille Ford
Statement Period: From January 1, 2085 to December 31, 2085
1. Income
Description | Amount ($) |
|---|
Rent Income (12 Units @ $1,200/month) | $172,800 |
Other Income (Parking Fees) | $5,000 |
Other Income (Laundry Fees) | $2,500 |
Total Income | $180,300 |
2. Expenses
Description | Amount ($) |
|---|
Mortgage Payments (Annual) | $36,000 |
Property Taxes | $6,500 |
Insurance | $2,000 |
Maintenance & Repairs | $10,000 |
Utilities (Water, Electricity, Gas) | $18,000 |
Management Fees | $8,500 |
Advertising & Marketing | $1,200 |
Legal & Accounting Fees | $3,000 |
Property Improvements (New Roof) | $15,000 |
Other Expenses (Landscaping) | $2,000 |
Total Expenses | $102,200 |
3. Net Operating Income (NOI)
Total Income - Total Expenses = $180,300 - $102,200 = $78,100
4. Additional Notes or Comments:
A new roof was installed in May 2085 to address ongoing leaks, increasing the property's value.
A marketing campaign for vacant units was successful in attracting new tenants in June 2085.
Utilities expense increased due to water conservation system installation, which is expected to reduce costs in the future.
Prepared By: [Your Name]
Date: January 15, 2086
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