	Year 1	Year 2	Year 3	Year 4	Year 5	Total
Total Rental Income	£45,000	£45,675	£46,817	£47,987	£49,427	£234,906
Total Expenses	£44,675	£44,754	£44,879	£45,007	£45,162	£224,476
Profit Before Tax	£325	£921	£1,938	£2,980	£4,265	£10,430
Profit After Tax	£263	£746	£1,570	£2,414	£3,455	£8,448
Change In Property Value	£10	£10	£20,000	£35,701	£47,507	£103,229
Net Return	£273	£756	£21,570	£38,115	£50,962	£111,677
Return From Rental Income (%)	0%	0%	0%	1%	1%	2%
Total Net Return (%)	0%	0%	6%	11%	15%	33%