New build central NJ, how low can one go?

[Joe San]

Have been looking around central NJ and can’t seem to find anything that makes sense to buy right now in apartments. A piece of land just came up for sale about 3 doors down from one of my properties and it’s zoned for two families. 

What’s the cheapest I could build if I was to GC the property myself ?  I have the time and a good family friend can consult me along the way who just got done building in the same town.


I would even go the modular route if it was cheaper.  I am hearing $200/Sq ft from some people  which sounds crazy to me, no small properties would cash flow with costs that high. 

Any insight is appreciated. Thanks