Roast me... 11 unit proforma (Almost done) In Salem Oregon. Cluster Cottage

[Chris Blackburn]

Hello, Chris Blackburn here with Clutch. Let's help each other! Building is hard and expensive. I have more data. Yes, I want to build at a lower price. My goal is to have a cost of $120,000 all in. (DR Horton is SELLING full homes at this price!!). Why is my all in price so HIGH!. Let's break it down. (also, I know bigger pockets hates AI (over-exaggeration). I would like to know why.

Cost Breakdown (Schedule of Values Summary)

Total Development Cost: $2,550,225

1. Hard Costs (Construction): ~$1,990,000 (~78%)

• Framing / Rough Carpentry: $240,000

• Siding / Roofing / Exterior: ~$187,000

• Windows & Doors: ~$101,000

• Interior Finishes (drywall, paint, flooring, cabinets, countertops): ~$227,000

• MEP (Plumbing, Electrical, HVAC): ~$270,000

• Site Work & Utilities (excavation, storm, sewer, grading, paving): ~$330,000

• Landscaping & Exterior Improvements: $100,000

• General Contractor O&P: $68,066

• Contingency: $50,000

2. Soft Costs: ~$340,000 (~13%)

• Architecture & Engineering: ~$65,000

• Civil / Survey / Geo / Testing: ~$58,000

• Permits & SDCs: ~$162,000

• Professional Fees / Legal: ~$12,500

• Insurance (Builders Risk, etc.): ~$12,600

• Development Fee: $50,000

• Soft Cost Contingency: $15,000

3. General Conditions: ~$65,000 (~3%)

• Site supervision & project management: ~$39,000

• Insurance, cleaning, waste, temp utilities, etc.: ~$26,000

4. Financing & Carry Costs: ~$185,000 (~7%)

• Bank Fees: $62,530

• Interest Reserve: $103,521

• Prepaid Interest & Closing Costs: ~$10,000

• Escrow / Title / Broker Fees: ~$18,000

Quick Takeaways

• All-in cost: ~$232K/unit

• Hard cost efficiency: ~$219/SF (very solid for this product)

• Soft costs + financing: ~20% of total (tight, not bloated)

• Contingency + reserves: ~$165K built in