Build to Rent Project in Palm Coast Florida

Build to Rent Project in Palm Coast Florida

Joseph BeilkeBusiness Member
Real Estate Agent · Palm Coast, FL · Member since 2018 · 364 posts · 244 votes

I have brought this up a few times in other discussions and figured best to a new post so everyone can follow along and see how the build is coming.  Here are the specs on the property.  

Duplex,  3 Beds 2 Baths 2 Car garage on for each unit.  

The lot is 80x125 or .23 Acre. 

 Each unit is 1314 sqft under Air with total slab foot print of 3922 sqft.  

All flooring is tile, with granite surfaces in kitchen and baths.  Bath's have tile walls, around shower (shower floor is tile too) and tub.   

Washing are dryer hook ups in garage but not provide.  

All bedrooms will have ceiling fan hook up, but only a light will be provided. Tenant can provide fan if they wish.

Ceiling height is 9-4'' , master has 10' tray.

Rear covered lanai that is 12x7 and fully fenced backyard bifurcated for privacy.

Projected rent is between $1900-2100 a per unit.    

I'll update the discussion as progress continues and if you are invested in the numbers or more details please feel free to reach out to.

Enkore Real Estate & Property Management4.836 Reviews
3Reply
112 views

Most Popular Reply

Member since 2020 · 14 posts · 8 votes
3y

Nice...what are your budgeted all-in and hard costs PSF?

See this reply in the discussion

31 Replies

Jump to latestLatest
  • Rental Property Investor · Michigan City, IN · Member since 2015 · 530 posts · 741 votes
    3y

    @Joseph Beilke Are you up for sharing a final cost breakdown for your project? Thanks for the details, been fun to follow. I am building 8 units this summer up in Three Oaks Michigan. I am building with modular construction so a different foundation style and approach but curious to see where you stack up. 

  • Joseph BeilkeBusiness Member
    OP
    Real Estate Agent · Palm Coast, FL · Member since 2018 · 364 posts · 244 votes
    3y

    I haven't updated this in awhile.

    So here is the update. Closed on the Property July 12 had professional Photos taken after 3 try's due to weather.   First Tenant is moving on on Sept 1 and has an electric car and work for a Solar company.  So EV chargers are going in on both side in the next month.  His paying for one and were paying for one.  

    Signed a contract for the lot across the street with a different builder because they owned it.  Going to be build another 3/2 2 car Duplex.   Here are some pro photos..  Still have side B open,  pass along the word.

    Enkore Real Estate & Property Management4.836 Reviews
  • Robert EllisBusiness Member
    Developer · Miami, FL · Member since 2014 · 3k+ posts · 1k+ votes
    3y
    Quote from @Joseph Beilke:

    I have brought this up a few times in other discussions and figured best to a new post so everyone can follow along and see how the build is coming.  Here are the specs on the property.  

    Duplex,  3 Beds 2 Baths 2 Car garage on for each unit.  

    The lot is 80x125 or .23 Acre. 

     Each unit is 1314 sqft under Air with total slab foot print of 3922 sqft.  

    All flooring is tile, with granite surfaces in kitchen and baths.  Bath's have tile walls, around shower (shower floor is tile too) and tub.   

    Washing are dryer hook ups in garage but not provide.  

    All bedrooms will have ceiling fan hook up, but only a light will be provided. Tenant can provide fan if they wish.

    Ceiling height is 9-4'' , master has 10' tray.

    Rear covered lanai that is 12x7 and fully fenced backyard bifurcated for privacy.

    Projected rent is between $1900-2100 a per unit.    

    I'll update the discussion as progress continues and if you are invested in the numbers or more details please feel free to reach out to.


     How is this coming along? are you looking at other markets? 

  • Joseph BeilkeBusiness Member
    OP
    Real Estate Agent · Palm Coast, FL · Member since 2018 · 364 posts · 244 votes
    3y

    @Robert Ellis

    Right now I am looking only in local markets where I have more control and oversight on things.  We are starting to ramp up the project on the next build.  Figuring out funding, design changes and time line.  The rental market has drop some here, nothing crazy, but enough for us to relook at the build numbers to make sure we still get an expectable return.  For me and my partner it's not always about cash flow, we also need tax breaks for other income.  

    Enkore Real Estate & Property Management4.836 Reviews
  • Member since 2009 · 30 posts · 6 votes
    2y

    who was the builder?

  • Joseph BeilkeBusiness Member
    OP
    Real Estate Agent · Palm Coast, FL · Member since 2018 · 364 posts · 244 votes
    2y

    @Brian Bussey

    DM me or call, my cell number is in my signature and I would be happy to introduce you to two of the builders I'm currently doing business with.

    Enkore Real Estate & Property Management4.836 Reviews
Join the conversationCreate a free account to reply, vote on answers and follow this thread.