Surfside Project 1
New Construction in Surfside, FL 33154
Description
This property is located in the town of Surfside, FL, a beautiful oceanfront community in South Florida. The house was built in 1946 and underwent complete new construction. Upon completion, it is 4,050 SF with 6 bedrooms and 4.5 baths. The architectural design emphasizes simplicity, efficient design, and purposeful materials, with varying volumes highlighted through textures and ornate trim.
Total Project Est.cost
$3,098,179
Equity Min Investment $10,000 | Development Loan Min Investment $10,000
CompletedLearn more about the purchase process| Home Size | 3,950 SF |
| Estimated Sale Price/SF (base case) | $1,062 |
| Total Estimated Sale Price | $4,195,000 |
| Total Development Costs | $3,098,179 |
| Estimated Profit | $887,071 |
| Margin of Safety | 26.15% |
| Uses | $ | % | PSF |
|---|---|---|---|
| Land | $1,250,000 | 40.35% | $316 |
| Construction Costs | $1,755,000 | 56.65% | $444 |
| Financing & Closing Costs | -$98,821 | -3.19% | -$25 |
| Taxes & Other | $192,000 | 6.20% | $49 |
| Total | $3,098,179 | 100.00% | $784 |
| Sources | $ | % |
|---|---|---|
| Loan | $2,371,246 | 80.98% |
| Equity | $556,877 | 19.02% |
| Total | $2,928,123 | 100.00% |
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