Updated about 12 years ago on .
Potential Duplex Developemnt...Check Out The Numbers
I have a great spot for duplexes and the area needs nice rentals.
Land $18,000 2 acres I think I could picked it up for $15,000
936sft duplexes at a building cost of $45 per sqft... Total of 84,240. $85,000 to be safe
Permits, utility hook ups, road through property etc. $10,000.00 rough estimate
Total in at $113,000
Rent $800 x2 $1,600
Payment $815. Includes property taxes and insurance.
5.5% at 20 years with $37,000 down.
35% For maintenance, vacancy $275
I figured I could drop to 35% instead of 50% with them being brand new.
Net $510
ROI 16%
How's that look?
Also there's room for a total of 5 buildings (10 units) for the future.