Is this a deal - (New Construction Project)

[Nelson Del Castillo]

Is this a deal? I am looking at a new construction project. The lot currently has a 1500 sqft cape on it. The plan is to knock it down and put up 2 duplexes at 1500 sqft a piece. Purchase price for the lot with the house is 125k, each duplex will sell for 250k a piece. I normally do flips and buy at 70% minus repairs... What would be a good formula to use for new construction, 65% minus repairs? The project is in the north east in Connecticut. Any input or opinion from builders will be appreciated.