Openai/69719895-3714-8012-94ef-2b4dc24788de

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gpt-5-2

User: You are a small residential real estate investor producing a professional Annual Financial Report for your real estate …

You are a small residential real estate investor producing a professional Annual Financial Report for your real estate portfolio. Using the following inputs (to be provided): • Net Cash Flow Report • Income Statement • Rent Roll • Schedule of Real Estate Owned

• Maintenance Logs Produce a comprehensive financial analysis of the portfolio for Calendar Year 2025

Global Rules and Assumptions: Current Year = 2025 Prior Year = 2024 for all year-over-year comparisons unless otherwise specified. Provide the name of the calculation followed by a colon and the result on one line, provide the numbers used in the formula on the line below the calculation. Use portfolio-level calculations unless otherwise stated. The other options are “Per Property” or “Both Portfolio-Level and Per Property”. If a required data point is missing, clearly note it and exclude the calculation rather than estimating. If a category or sub-category has no transactions, do not show it. All calculations must show both numbers and formulas, formatted cleanly so they can be copied directly into Microsoft Word.

Section 1: Source Reports (Context) Include five (5) current-year reports that support all calculations:

1. Net Cash Flow
2. Income Statement
3. Rent Roll
4. Schedule of Real Estate Owned
5. Maintenance Logs

Summarize each report briefly and explain how it is used in the analysis.

Section 2: Property-Level Valuation Analysis For each property, calculate and show: Gross Rent Multiplier (GRM). Do not use any of the attachments for scheduled income to calculate this. Ask for this input. Capitalization Rate (Cap Rate). Do not use any of the attachments for the net operating income since the income statement is portfolio-level. Ask for this input by property. Net Income Multiplier (NIM) Show: • Result • Inputs • Formula

Section 3: Portfolio-Level Metrics Calculate and show: Portfolio Net Worth • Formula: Sum of Property Values – Outstanding Mortgage Balances Break-Even Ratio Return on Equity (ROE) Cash-on-Cash Return Gross Scheduled Income. Add the scheduled income from each property that was collected for the gross rent multiplier. Vacancy Rate (percentage of unit-months unoccupied). Do not use any of the attachments for this calculation. Ask for the vacancy percentage. • Formula: (number of months all units are unoccupied) ÷ (total months rentable) Vacancy and Credit Loss (in dollars) • Formula: Gross Schedule Income x Vacancy Percentage Gross Operating Income (GOI)

Section 4: Income Detail Break down Gross Operating Income using Stessa income categories: Category: Income Sub-categories (show only if used): • General Income • Rents • Section 8 Rents • Application Fees • Late Fees • Pet Fees • Laundry • Storage • Parking • Tenant Pass-Throughs • Misc Interest • Insurance Proceeds • Cleaning & Other Upsells For each category and sub-category, show: • Total amount • Percentage of Gross Operating Income

Section 5: Operating Expense Detail Break down Gross Operating Expenses using Stessa expense categories: Category: Repairs & Maintenance Sub-categories (show only if used): • General Repairs & Maintenance • Cleaning & Janitorial • Painting • Electrical Repairs • Plumbing Repairs • HVAC Repairs • Appliance Repairs • Roof Repairs • Door & Window Repairs • Other Repairs • Security Locks & Keys • Pest • Gardening & Landscaping • Pool & Spa • Snow Removal • R&M Supplies • R&M Permits & Inspections • Labor • Linens Soaps & Other Consumables Category: Taxes Sub-categories (show only if used): • Property Taxes • Special Assessments • City State & Local Taxes • Short Term Occupancy Taxes • Federal Taxes • Tax Licenses & Registrations Category: Admin & Other Sub-categories (show only if used): • General Admin & Other • Advertising • Background & Credit Checks • Travel • Mileage • Meals • Office Supplies & Postage • Software Subscriptions • HOA Dues • Bank Fees • Education • Gifts • Licenses • Rent Concessions Category: Insurance Sub-categories (show only if used): • General Insurance • Rental Dwelling • Rental Condo • Flood • Hurricane • Earthquake • Liability • Umbrella Category: Utilities Sub-categories (show only if used): • General Utilities • Gas • Electric • Gas & Electric • Garbage & Recycling • Telephone Cable & Internet • Water & Sewer • Heating Oil Category: Legal & Professional Sub-categories (show only if used): • General Legal & Professional • Legal • Accounting • Court Fees • Eviction Fees • Inspections • Surveys • Appraisals Category: Management Fees Sub-categories (show only if used): • General Management Fees • Property Management • Service Calls • Leasing Commissions • Booking & Platform Fees • Fund Management For each sub-category, show: • Total amount • Percentage of Gross Operating Expenses

Section 6: Capital Expenses Break down Gross Capital Expenses using Stessa expense categories: Category: Capital Expenses Sub-categories (show only if used): • General Capital Expenses • New Roof • New Acquisitions • New Appliances • New HVAC • New Flooring & Carpet • New Doors & Windows • New Landscaping • New Plumbing & Electrical • New Furniture & Equipment • Remodeling • Closing Costs • Loan Costs For each sub-category, show: • Total amount • Percentage of Gross Capital Expenses

Section 7: Debt, Transfers, and Cash Flow Break down Gross Mortgage & Loan Expenses using Stessa expense categories: Category: Mortgage Payment Sub-categories (show only if used): • General Mortgage Payment • Mortgage Interest • Mortgage Principal • Proceeds & Payoffs • Other Loan Payment • Other Interest • Other Principal • Private Mortgage Insurance (PMI) For each sub-category, show: • Total amount • Percentage of Gross Mortgage & Loan Expenses

Break down Gross Transfers using Stessa expense categories: Category: Transfers Sub-categories (show only if used): • General Transfers • Credit Card Payments • Owner Distributions • Owner Contributions • General Escrow Payments • Property Tax Escrows • Insurance Escrows • PMI Escrows • HOA Escrows • Down Payments • Sale Proceeds • Taxes to Remit For each sub-category, show: • Total amount • Percentage of Gross Transfers

Calculate and show:

1. Net Operating Income (NOI)

o Formula: Gross Operating Income – Gross Operating Expenses

1. Debt Service
2. Net Cash Flow (NCF)

o Formula: NOI – Debt Service

1. Debt Service Coverage Ratio (DSCR)

o Formula: NOI ÷ Debt Service

Section 8: Equity & Investment Changes Calculate:

1. Net Equity Change

o Formula: Principal Paydown + Property Appreciation

1. Net Investment Change

o Formula: Owner Distributions – Owner Contributions

Section 9: Unit & Square Foot Metrics Show: • Market value per unit • Scheduled income per unit • Operating expenses per unit • Market value per square foot • Income per square foot • Expenses per square foot • Operating Expense Ratio

Section 10: Year-Over-Year Analysis Compare 2024 vs. 2023, highlighting: • Income changes • Expense changes • NOI and cash flow trends • Key drivers of variance

Section 11: Market & Economic Context Provide United States national, Ohio state, and Columbus Metropolitan Statistical Area local trends for: • Rent growth • Population growth • Multifamily building activity • Mortgage rate trends

Section 12: Narrative Analysis

1. Summary of Significant Events

o Capital investments o Unexpected expenses o Operational changes

1. SWOT Analysis

o Strengths o Weaknesses o Opportunities o Threats

Assistant: Love the structure you’ve laid out—this is a serious, lender- and investor-grade annual report.

Love the structure you’ve laid out—this is a serious, lender- and investor-grade annual report. 👍 Right now, the limiting factor is data availability. To do this correctly (and per your own rules), I need to collect inputs first rather than estimate or infer.

Below is a clean intake checklist so we can move fast and produce a polished Calendar Year 2025 report in one pass.

Step 1: Upload Required Reports (2025)

Please upload all five reports for Calendar Year 2025 (CSV, Excel, or PDF is fine—Stessa exports preferred):

1. Net Cash Flow Report (2025)
2. Income Statement (2025, portfolio-level)
3. Rent Roll (as of 12/31/2025)
4. Schedule of Real Estate Owned (as of 12/31/2025)
5. Maintenance Logs (2025)

These will fully support:

• NOI, cash flow, DSCR
• Income & expense categorization
• Capital vs operating expense separation
• Maintenance trend analysis

Step 2: Per-Property Inputs (Required by Your Rules)

These cannot be derived from the uploaded reports and must be provided explicitly.

A. Gross Rent Multiplier (GRM)

For each property, please provide:

• Annual Gross Scheduled Income (Market Rent, not actuals)

Format suggestion:

Property Address | Units | Monthly Market Rent per Unit | Annual Scheduled Income

B. Capitalization Rate (Cap Rate)

For each property, please provide:

• Net Operating Income (NOI) by property (2025) > This should exclude debt service and capital expenses.

Format suggestion:

Property Address | 2025 Property-Level NOI

C. Property Valuations & Debt (for Net Worth & Equity)

For each property, please provide:

• Estimated Market Value (12/31/2025)
• Outstanding Mortgage Balance (12/31/2025)

Format suggestion:

Property Address | Market Value | Mortgage Balance

D. Vacancy Assumption (Portfolio-Level)

Provide one vacancy percentage for 2025:

Portfolio Vacancy Rate (% of unit-months unoccupied)

This will be used for:

• Vacancy Rate
• Vacancy & Credit Loss ($)
• Gross Operating Income

Step 3: Prior-Year Comparison Data (2024)

To complete Section 10: Year-Over-Year Analysis, please also upload:

• Income Statement (2024)
• Net Cash Flow Report (2024)

(Portfolio-level only is sufficient.)

Step 4: Market & Economic Context (Optional Confirmation)

If you’d like me to proceed automatically, I will use public, widely cited sources for:

• U.S. national trends
• Ohio state trends
• Columbus MSA trends

If you prefer specific sources (e.g., Yardi Matrix, CoStar, Census, Fed), tell me now.

What Happens Next

Once the above is provided, I will:

✔ Build the full 12-section Annual Financial Report exactly as specified ✔ Show every calculation with formulas and inputs, Word-ready ✔ Use Stessa category alignment throughout ✔ Clearly flag any excluded metrics due to missing data ✔ Deliver something suitable for:

• Lenders
• Partners
• Your own multi-year benchmarking

When you’re ready, start by uploading the five 2025 reports, and we’ll roll straight into Section 1 → Section 12 without backtracking.