What is the Long-Term Debt Service ($)? Total monthly income $ 37,916.15 Other i

Question

What is the Long-Term Debt Service ($)?

Total monthly income $          37,916.15 Other income $               150.00 Total annual income $        456,793.80 Less: vacancy factor $          22,839.69 Adjusted gross annual income $        433,954.11 Less: estimated expense $        127,799.49 Net income before debt service $        306,154.62 Capitalized value (Economic value of property) $      3,222,680.26 Resquested loan value $      2,421,727.00 Loan/Value ratio $        236,118.38 Long-term debt service ? Debt service coverage ratio                      1.30 Loan per unit $          32,289.69

Explanation / Answer

Debt service coverage ratio = Net Income from operations / Long-term debt service

substituting from the table given,

1.3 = 306154.62/ Long-term debt service

therefore, Long-term debt service = 306154.62/1.3 = 235503.55

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