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Updated about 1 year ago, 11/05/2023
Need Help with New Duplex Contruction Deal Analysis
Hello BP community!
I am looking into building a duplex and need some insight on this deal. The builder is my neighbor and owns a piece of land in our subdivision. The land is 0.3 acre, and duplex will be 2000 sq ft and 2200 sq ft. Each side will have 3 Bed, 3 full bath, walkout basement, LP smart siding, LVP flooring throughout, 2 car garage. Builder will carry the loan till possession. Once done based on comps in my area i can rent them for $2400 each. The land costs $90k and construction will cost $600K.
Any and all feedback, tips, suggestions are very much welcome and knew coming here asking you all would be a huge help.
Thank you!