MultifamilyOwned
Cedar Creek Villas
915 Cedar Creek Ln, Raleigh, NC
- Size
- 128 units
- Year built
- 1998
- Acquired
- 04/12/17
- Basis
- $19.8M
- Fund
- Fund I
- Region
- Southeast
- Manager
- PropLake Residential
- Accounting system
- QuickBooks
T12 NOI
$1.2M
+2.4% vs prior T12
Occupancy
96.9%
As of Aug 2026 rent roll
NOI / unit
$9,508
Trailing 12 months
Yield on cost
6.15%
T12 NOI / purchase price
DSCR
1.67x
Above 1.20x covenant
Monthly NOI
Sep 25 to Aug 26Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Debt
- Lender
- Regions Bank
- Balance
- $11,200,000
- Rate
- 4.25%
- Structure
- 25-yr amort
- Maturity
- 05/01/27
- Annual debt service
- $728,096
- LTV on basis
- 56.6%
T12 income statement
PropLake standard chart of accounts · mapped from QuickBooks| Revenue | ||
| 4010Rental Income | $2,274,848 | 12 bronze rows |
| 4020Other Income | $93,065 | 12 bronze rows |
| 4030Vacancy Loss | ($115,341) | 12 bronze rows |
| Total revenue | $2,252,572 | |
| Operating expenses | ||
| 5010Payroll | $209,098 | 12 bronze rows |
| 5020Repairs & Maintenance | $143,015 | 12 bronze rows |
| 5030Utilities | $125,446 | 12 bronze rows |
| 5040Property Taxes | $227,437 | 12 bronze rows |
| 5050Insurance | $82,705 | 12 bronze rows |
| 5060Management Fees | $103,167 | 12 bronze rows |
| 5070Marketing | $41,760 | 12 bronze rows |
| 5080General & Administrative | $102,952 | 12 bronze rows |
| Total operating expenses | $1,035,580 | |
| Net operating income | $1,216,992 | |
| Below NOI | ||
| 6010Interest Expense | $476,004 | 12 bronze rows |
| 6020Capital Expenditures | $64,285 | 12 bronze rows |
| Net cash flow | $676,703 | |