BCS Legacy HQ

BCS Legacy Properties LLC - Partner Dashboard

📍 Property Map

👥 Partner Equity (Equal Thirds)

💰 Financial Reports (2017-2024)

ⓘ

📊 Income Metric Definitions

Net Operating Income (NOI)
Revenue − Operating Expenses
Pure operating performance. Excludes interest, depreciation. The standard metric for evaluating rental property profitability before financing.

NOI after Debt Service
Revenue − Operating Expenses − Interest
What the portfolio earns after paying the bills and the bank. Excludes depreciation (non-cash) and CapEx. Shows real cash earnings from operations after mortgage interest.

Net Income
Revenue − All Expenses (OpEx + Interest + Depreciation)
Bottom-line per the books. Matches the 1065 tax return (Book Net Income on Schedule M-1). Includes non-cash depreciation which reduces taxable income.

Operating Expenses include: R&M, Lawn Care, Insurance, Property Tax, Management Fee, HOA, Utilities, Legal/Professional, Tenant Locator, Storage, Travel, Office Supplies, Meals & Entertainment, Bank Charges, Taxes & Licenses, Other OpEx
Data validated against 1065 tax returns for 2019–2024. Revenue and Net Income match within $1 for 5 of 6 years (2020 gap = Fort Smith K-1 external investment).

Revenue vs Expenses (Combo Chart)

Annual P&L Summary

Balance Sheet Overview

💰 Capital & Non-Operating Breakdown

Capital Expenditures & Debt Service by Year

📊 Financial Statements

Filter by Property: View Mode:

🔍 Deal Scanner — College Station

SFH · 3+bd · 2+ba · ≤$350K · Built 2000+ · 1,250+ sqft

Address	Price	Bd/Ba	Sqft	Yr Built	DOM	Est. Rent	NOI	Cap Rate	CoC	IRR

Rent Estimation: Estimated at $1.10/sqft/mo based on BCS Legacy portfolio actuals and RentCast comps for The Barracks subdivision

Property Taxes: Estimated at 1.9% of listing price, derived from Brazos County tax records (e.g., 3304 Lieutenant: $6,636 on $348K assessed = 1.91%)

Insurance: Estimated at 0.35% of listing price

Maintenance: Estimated at 1% of listing price (industry standard; portfolio avg is $1,597/property)

Management Fee: $80/month (Mark Horn's fee per property)

Lawn Care: $730/year (portfolio average from 2024 QB data)

Vacancy: 5% (conservative; portfolio actual is ~0%)

Financing: 20% down, 7.0% rate, 30-year fixed (current investment property rate)

Appreciation: 1.5% annual (conservative; TX 3-year CAGR is 1.4% per FHFA HPI)

Hold Period: 7 years (from Justin's underwriting model)

Sales Commission: 6% at exit

IRR Calculation: Newton-Raphson method on annual cash flows including exit proceeds

🏘️ Properties (16)