Surfside Project 1

Surfside Project 1

Surfside, FL 33154

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Bedrooms 5
Bathrooms 5
Area 3950 image/svg+xml
Description

This property is located in the town of Surfside, FL, a beautiful oceanfront community in South Florida. Surfside has an attractive residential neighborhood and is located close by to its charming business district. The home was built in 1946 and is currently undergoing a completely new construction while incorporating key architectural concepts such as simplicity, efficient design, and purposeful materials. Once new construction is complete the property will be 4,050 square feet in total, with 6 bedrooms and 4 and a half baths. Also will include a one car garage, pool, and an outdoor living room and kitchen area. This contemporary home seamlessly blends into the surrounding neighborhood which is quaint and modest. The house is appropriately sized in the front yard to achieve the feel of the existing neighborhood but slowly starts to increase in size towards the rear in order to maximize the lot potential. The various volumes are highlighted with differentiating textures and highlighted with ornate trim and molding. The result of this design gives the impression of an ever-changing dynamic structure.

Equity
$590,794 (86%) Invested
$682,750

Expected Return

0.00%

Total Project Est.cost

$3,392,000

Timeframe: 12 Months

Months to completion: -32 Months

Development Loan
$0 (0%)
$2,554,250

Expected Return

9.25%

Equity Min Investment $10,000 | Development Loan Min Investment $10,000

Learn 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 $3,643,000
Estimated Profit ? $552,000
Margin of Safety 13.16%
Uses $ % PSF
Land $1,250,000 34.31% $316
Construction Costs $1,755,000 48.17% $444
Financing & Closing Costs $446,000 12.24% $113
Taxes & Other $192,000 5.27% $49
Total $3,643,000 100.00% $922
Sources $ %
Loan $2,554,250 78.91%
Equity $682,750 21.09%
Total $3,237,000 100.00%
Total Estimated Sale Price: $4.2M
Total Development Costs: $3.6M
Margin of Safety 13.16%
Land
Construction Costs
Financing & Closing Costs
Taxes & Other
Project Start
1 mo Property Aquisition
4 mo Permitting and Demolition
6 mo Site Preparation and Development Start
9 mo Development Completed
12 mo Closing Sale
Project End
Financial Analysis
Investment Calculator?

Est. Immediate Costs will become known during the transaction process when the inspection report comes in.

Deal Overview
Live Projections
Total Return $552,000
Est. Annualized ROI 40.4%
Appreciation ? 6% %
Your Investment $1,000
Appreciation Period
Hist 20 yr. Hist 1 yr. Hist 5 yr. Custom
Equity 50%
Loan 85%
Project Costs and Valuation Rental Projections
Total Costs $3
Land Acquisition $1,250,000
Plans and Permits $105,000
Development $1,500,000
Construction Management $150,000
Closing Costs $251,000
Loan Costs $42,000
Platform Fee $150,000
Loan Interest $195,000
Project Costs Breakdown
Land Acquisition
$1,250,000
Plans and Permits
$105,000
Development
$1,500,000
Construction Management
$150,000
Closing Costs
$251,000
Loan Costs
$42,000
Platform Fee
$150,000
Est. Development Loan Interest
$195,000
Total Costs
$3
Final Est. Property Value
$4,195,000
Est. Profit Margin 29.6%
Equity Valuation
Estimated Return Annualized
40.4%
Return on Equity Investment
40.4%
Estimated Annualized Return
on Development Loan
9.3%
10-Year Income Projection
Revenue Loan Interest Net Income
ROI by Year
CAP Rate by Year
Year 1 Year 3 Year 5 Year 10
Est. Gross Rent
$209,750
Property Management
$20,975
Property Tax
$80,544
Maintenance Costs
$10,488
Other
$2,098
Revenue Subtotal
Loan Interest
Net Rental Income
Est. Annualized ROI for Equity ?
Est. Annualized CAP RATE on Equity ?
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