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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: -31 Months

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

Expected Return

9.25%

Equity Min Investment $10000 | Development Loan Min Investment $10000

Learn more about the purchase process
Home Size 3,950 SF
Total Development Costs $1,755,000
Uses $ % PSF
Land $1,250,000 36.25% $316
Construction Costs $1,755,000 50.90% $444
Financing & Closing $251,000 7.28% $64
Taxes & Other $192,000 5.57% $49
Total $3,448,000 100.00% $873
Sources $ %
Loan $2,554,250 78.91%
Equity $682,750 21.09%
Total $3,237,000 100.00%
Total Development Costs: $1.8M
$100,000
Sample Investment
$150,000
Project Distribution
Initial Investment? $0

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

total return ?
$552,000
Appreciation?
6%
%
Hist 20 yr. Hist 1 yr. Hist 5 yr. Custom
Project Costs and Valuation Rental Projections
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
Equity Valuation:
Estimated Return Annualized
40.42475283778836%
Return on Equity Investment
40%
Estimated Annualized Return
on Development Loan
9.25%
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 ?