Park Villas
Twenty acres with 4500 SF rustic home, listed at $730,000
Existing structure will be modified and remodeled as a club house to include kitchen and dining rooms, day care, offices, work out, game rooms, spa and reception
Except for lots one and two, fronts of homes face access road, which loops the outskirts of the property, with the backs facing the park
Each home will be placed on a quarter acre lot, which the homeowner will be responsible for maintaining, however, the entire twenty acres will be shared as common ground, owned and maintained by all of the nineteen homeowners
Budget for start up…………$1,275,000
20 acre purchase………$730,000
Design and planning………..$30,000
Surveying, land plan, approval and permits ……..$30,000
Promotions, legal fees, accounting and insurance………$35,000
Infrastructure…………….$200,000
Gravel road, park and landscaping
Club house renovation and pool………………………$250,000
19 quarter acre lots equivalent to one acre land shares, priced at $100,000 each = $1,900,000
Projected average 4000 SF of structure per lot with 19 homes total, estimated selling price at $225 per SF = $17,100,000
Projected average 4000 SF of structure per lot with 19 homes total, estimated cost to build at $150 per SF = $11,400,000
Projected gross profit…….$7,600,000