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Updated over 7 years ago,

User Stats

152
Posts
24
Votes
Leo Lanza
  • Investor
  • Grapevine, TX
24
Votes |
152
Posts

High End New Construction-North East Dallas

Leo Lanza
  • Investor
  • Grapevine, TX
Posted

ARV - $1,411,000.00 NEW CONSTRUCTION Price Opinion

Build Cost - $612,500.00 ( $125 p/sq ft construction)

Purchase Price - $499,900 (Lot Value)

Close - October 10th
Title - Paradise
Down Payment - $10,000

Call Leo 817-507-9497

I have a CMA and Listings attached for the 2 most recent New Construction Sales on this stretch of La Vista that backs up with a golf course view on the 4th hole green of Lakewood Country Club. 6914 La Vista is 4 doors down from the subject property and 6840 La Vista is 12 doors down so this is a tight little group. The price per square foot on the re sale was between $288 - $300 p/sqft and they each sold in 1 Day on Market and 15 Days on Market so they move quick once they are finished. See attached report with the breakdown on the numbers for those properties. Those properties both had matching 53x144 lot dimensions like this subject property so all same lots. As I understand the possibilities, on this size lot you could build as much as 5,200 square feet of new construction max with 4,900 sq ft most likely being the ideal for maxing out the spread between build cost and resale value. Your price per square foot in this current market should range between $288-$300 for projections but things can obviously change in this market regarding projections over a 8-12 month project completion period.

If we are looking at a 4,900 sq ft build 4 bedroom/ 3 full bath 2 half bath/ 2 car garage (no pool, none of the new builds have pools in this stretch) @ re sale value of $288 p/sqft = $1,411,200 on resale value

I factor build and demo cost @ $125 p/sqft = $612,500

Land Acquisition Cost $499,900

Offering

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