	Year 1	Year 2	Year 3	Year 4	Year 5	Total
Total Rental Income	£39,600	£40,194	£40,797	£41,817	£42,862	£205,270
Total Expenses	£37,813	£37,923	£38,024	£38,168	£38,315	£190,243
Profit Before Tax	£1,787	£2,271	£2,773	£3,649	£4,547	£15,027
Profit After Tax	£1,447	£1,840	£2,246	£2,956	£3,683	£12,172
Change In Property Value	£10	£19,800	£35,343	£47,032	£32,766	£134,951
Net Return	£1,457	£21,640	£37,589	£49,988	£36,449	£147,123
Return From Rental Income (%)	0%	1%	1%	1%	1%	4%
Total Net Return (%)	0%	6%	11%	15%	11%	43%