def test__calculate_depreciation(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.depreciation_years = 10
real_estate_calc.depreciation_annual = 1000000
real_estate_calc.calc_year = 9
real_estate_calc._calculate_depreciation()
self.assertEquals(real_estate_calc.depreciation, 1000000)
real_estate_calc.calc_year = 10
real_estate_calc._calculate_depreciation()
self.assertEquals(real_estate_calc.depreciation, 0)
def test__calculate_cumulative_net_income(self):
# A bit tricky to test
real_estate_calc = RealEstateCalc(
purchase_price=10000000,
gross_rental_yield=0.05,
calc_year=0,
mortgage_loan_to_value=1,
mortgage_rate=0.01,
mortgage_tenor=1,
renewal_income_rate=0,
rental_management_renewal_fee=0,
rental_management_rental_fee=0,
)
# Mortgage of one year, so year_0_income will be the rental income of 500k - mortgage payment of ~10+m
year_0_income = real_estate_calc.net_income_after_taxes
mortgage_payment = int(real_estate_calc.mortgage.monthly_payment * 12)
self.assertEquals(year_0_income, 500000 - mortgage_payment)
# Cumulative income will just be first year
self.assertEquals(real_estate_calc.cumulative_net_income, year_0_income)
# On second year, cumulative income will be 500k rent + year 0
real_estate_calc.calc_year = 1
real_estate_calc.calculate_all_fields()
year_1_income = real_estate_calc.net_income_after_taxes
self.assertEquals(year_1_income, 500000)
self.assertEquals(real_estate_calc.cumulative_net_income, year_0_income + year_1_income)
# And just to prove its this function doing the job
real_estate_calc.calc_year = 3
real_estate_calc._calculate_cumulative_net_income()
self.assertEquals(real_estate_calc.cumulative_net_income, year_0_income + year_1_income * 3)
def test__calculate_sale_price(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_price = 50000000
real_estate_calc.book_value = 45000000
real_estate_calc._calculate_sale_price()
self.assertEquals(real_estate_calc.sale_price, 50000000)
real_estate_calc.sale_price = None
real_estate_calc._calculate_sale_price()
self.assertEquals(real_estate_calc.sale_price, 45000000)
def test__calculate_purchase_price_and_fees(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price = 100000000
real_estate_calc.purchase_agent_fee = 3000000
real_estate_calc.purchase_other_transaction_fees = 1000000
real_estate_calc.mortgage_initiation_fees = 20000
real_estate_calc.renovation_cost = 5000000
expected = 100000000 + 3000000 + 1000000 + 20000 + 5000000
real_estate_calc._calculate_purchase_price_and_fees()
self.assertEquals(real_estate_calc.purchase_price_and_fees, expected)
def test__calculate_rental_management_renewal_fee(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.rental_management_renewal_fee = None
real_estate_calc._calculate_rental_management_renewal_fee()
self.assertEquals(real_estate_calc.rental_management_renewal_fee, (1 / 24 + 0.5 / 24) / 2)
real_estate_calc.rental_management_renewal_fee = 0.06
real_estate_calc._calculate_rental_management_renewal_fee()
self.assertEquals(real_estate_calc.rental_management_renewal_fee, 0.06)
def test__calculate_net_profit_on_realestate(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_proceeds_net = 50000000
real_estate_calc.cumulative_net_income = 2000000
real_estate_calc.purchase_initial_outlay = 10000000
real_estate_calc.mortgage_amount_outstanding = 39000000
real_estate_calc._calculate_net_profit_on_realestate()
self.assertEquals(real_estate_calc.net_profit_on_realestate, 3000000)
def test__calculate_total_expense(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.maintenance_expense = 100000
real_estate_calc.monthly_fees_annualized = 200000
real_estate_calc.rental_management_total_expense = 300000
real_estate_calc.property_tax_expense = 400000
real_estate_calc._calculate_total_expense()
self.assertEquals(real_estate_calc.total_expense, 1000000)
def test__calculate_rental_management_rental_fee(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.rental_management_renewal_fee = None
real_estate_calc._calculate_rental_management_renewal_fee()
self.assertEquals(real_estate_calc.rental_management_rental_fee, 0.05)
real_estate_calc.rental_management_renewal_fee = 0.04
real_estate_calc = RealEstateCalc(rental_management_rental_fee=0.04)
self.assertEquals(real_estate_calc.rental_management_rental_fee, 0.04)
def test__calculate_acquisition_cost(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price = 100000000
real_estate_calc.purchase_agent_fee = 3000000
real_estate_calc.purchase_other_transaction_fees = 1000000
real_estate_calc.renovation_cost = 5000000
real_estate_calc._calculate_acquisition_cost()
self.assertEquals(real_estate_calc.acquisition_cost, 109000000)
def test__calculate_renewal_income_rate(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.renewal_income_rate = None
real_estate_calc._calculate_renewal_income_rate()
self.assertEquals(real_estate_calc.renewal_income_rate, 1 / 24)
real_estate_calc.renewal_income_rate = 0.05
real_estate_calc._calculate_renewal_income_rate()
self.assertEquals(real_estate_calc.renewal_income_rate, 0.05)
def test__calculate_mortgage(self):
real_estate_calc = RealEstateCalc()
real_estate_calc._calculate_mortgage()
self.assertEquals(real_estate_calc.mortgage, None)
real_estate_calc.mortgage_rate = 0.01
real_estate_calc.mortgage_tenor = 30
real_estate_calc.purchase_price_financed = 10000000
real_estate_calc._calculate_mortgage()
self.assertEquals(real_estate_calc.mortgage.rate, 0.01)
self.assertEquals(real_estate_calc.mortgage.tenor, 30)
self.assertEquals(real_estate_calc.mortgage.principal, 10000000)
def test__calculate_purchase_date(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_date = None
real_estate_calc._calculate_purchase_date()
self.assertEquals(real_estate_calc.purchase_date, dt.date.today())
some_date = dt.date(2016, 12, 24)
real_estate_calc.purchase_date = some_date
real_estate_calc._calculate_purchase_date()
self.assertEquals(real_estate_calc.purchase_date, some_date)
def test__calculate_depreciation_percentage(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.depreciation_years = 0
real_estate_calc._calculate_depreciation_percentage()
self.assertEquals(real_estate_calc.depreciation_percentage, 0)
real_estate_calc.depreciation_years = 47
real_estate_calc._calculate_depreciation_percentage()
self.assertEquals(real_estate_calc.depreciation_percentage, 1 / 47)
def test__calculate_income_tax_real_estate(self):
real_estate_calc = RealEstateCalc()
real_estate_calc._calculate_income_tax_real_estate()
self.assertEquals(real_estate_calc.income_tax_real_estate, 0)
real_estate_calc.income_tax_calculator = IncomeTaxCalc()
real_estate_calc.income_tax = 11000000
real_estate_calc.income_tax_calculator.total_income_tax = 10000000
real_estate_calc._calculate_income_tax_real_estate()
self.assertEquals(real_estate_calc.income_tax_real_estate, 1000000)
def test__calculate_sale_proceeds_after_fees(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_price = 30000000
real_estate_calc.sale_agent_fee = 1000000
real_estate_calc.sale_other_transaction_fees = 300000
real_estate_calc._calculate_sale_proceeds_after_fees()
self.assertEquals(real_estate_calc.sale_proceeds_after_fees, 28700000)
def test__calculate_sale_agent_fee(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_price = 100000000
real_estate_calc.agent_fee_variable = 0.03
real_estate_calc.agent_fee_fixed = 50000
real_estate_calc._calculate_sale_agent_fee()
expected = (100000000 * 0.03 + 50000) * (1 + taxconstants.CONSUMPTION_TAX)
self.assertEquals(real_estate_calc.sale_agent_fee, expected)
def test__calculate_mortgage_amount_outstanding(self):
real_estate_calc = RealEstateCalc()
self.assertEquals(real_estate_calc.mortgage_amount_outstanding, 0)
real_estate_calc.mortgage = Mortgage(principal=24000000,
tenor=2,
rate=0)
real_estate_calc.calc_year = 0
real_estate_calc._calculate_mortgage_amount_outstanding()
self.assertEquals(real_estate_calc.mortgage_amount_outstanding,
12000000)
real_estate_calc.calc_year = 1
real_estate_calc._calculate_mortgage_amount_outstanding()
self.assertEquals(real_estate_calc.mortgage_amount_outstanding, 0)
def test__calculate_rental_management_total_expense(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.rental_management_renewal_expense = 100000
real_estate_calc.rental_management_rental_expense = 1000000
real_estate_calc._calculate_rental_management_total_expense()
self.assertEquals(real_estate_calc.rental_management_total_expense, 1100000)
def test__calculate_net_income_after_taxes(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.net_income_before_taxes = 1000000
real_estate_calc.income_tax_real_estate = 200000
real_estate_calc._calculate_net_income_after_taxes()
self.assertEquals(real_estate_calc.net_income_after_taxes, 800000)
def test_depreciation_for_year(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.depreciation_years = 10
real_estate_calc.depreciation_annual = 1000000
self.assertEquals(real_estate_calc.depreciation_for_year(9), 1000000)
self.assertEquals(real_estate_calc.depreciation_for_year(10), 0)
def test__calculate_property_tax_expense(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price = 70000000
real_estate_calc.property_tax_rate = 0.01
real_estate_calc._calculate_property_tax_expense()
self.assertEquals(real_estate_calc.property_tax_expense, 700000)
def test__calculate_book_value(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price_land = 20000000
real_estate_calc.depreciated_building_value = 10000000
real_estate_calc._calculate_book_value()
self.assertEquals(real_estate_calc.book_value, 30000000)
def test__calculate_equity_value(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.book_value = 20000000
real_estate_calc.mortgage_amount_outstanding = 5000000
real_estate_calc._calculate_equity_value()
self.assertEquals(real_estate_calc.equity_value, 15000000)
def test__calculate_depreciated_building_value(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price_building = 30000000
real_estate_calc.depreciation_cumulative = 20000000
real_estate_calc._calculate_depreciated_building_value()
self.assertEquals(real_estate_calc.depreciated_building_value, 10000000)
def test__calculate_sale_other_transaction_fees(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_price = 100000000
real_estate_calc.other_transaction_fees = 0.01
real_estate_calc._calculate_sale_other_transaction_fees()
self.assertEquals(real_estate_calc.sale_other_transaction_fees, 1000000)
def test__calculate_renewal_income(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.renewal_income_rate = 1 / 24
real_estate_calc.rental_income = 500000
real_estate_calc._calculate_renewal_income()
self.assertEquals(real_estate_calc.renewal_income, 20833)
def test__calculate_maintenance_expense(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.maintenance_per_m2 = 1000
real_estate_calc.size = 50
real_estate_calc._calculate_maintenance_expense()
self.assertEquals(real_estate_calc.maintenance_expense, 50000)
def test__calculate_sale_proceeds_net(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.sale_proceeds_after_fees = 50000000
real_estate_calc.capital_gains_tax = 1000000
real_estate_calc._calculate_sale_proceeds_net()
self.assertEquals(real_estate_calc.sale_proceeds_net, 49000000)
def test__calculate_rental_income(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.purchase_price = 10000000
real_estate_calc.gross_rental_yield = 0.05
real_estate_calc._calculate_rental_income()
self.assertEquals(real_estate_calc.rental_income, 500000)
def test__calculate_total_income(self):
real_estate_calc = RealEstateCalc()
real_estate_calc.rental_income = 500000
real_estate_calc.renewal_income = 20833
real_estate_calc._calculate_total_income()
self.assertEquals(real_estate_calc.total_income, 520833)
