[Calc Review] Help me analyze this deal

[Jamir McClinton]

OFF-MARKET LAND FLIP 

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*This link comes directly from our calculators, based on information input by the member who posted.

I just want to know if my analysis is accurate or if I’m way off. I’ve already contacted the seller and just need a buyer who is interested in this to close with me( I’m a wholesaler). Also, the property itself is also worth 1.4-2.03 million as is with no house built on it.

To determine a realistic and justifiable ARV for this property with a 4,000 sq. ft. luxury home, I analyzed comparable sales close by in Jamestown, RI, focusing on price per square foot and property characteristics.

Step 1: Identifying Comparable Sales

I selected six high-end waterfront properties in Jamestown that share similar lot sizes, locations, and luxury build quality. The price per square foot ranged from $791/sq. ft. to $1,500/sq. ft., with most high-end waterfront homes selling between $1,200–$1,500/sq. ft.

Comparable Property	Sale Price	Size (Sq. Ft.)	Price per Sq. Ft.
556 E Shore Rd	$5M	3,900 sq. ft.	$1,282/sq. ft.
5 Auidneck Ct	$3.09M	3,200 sq. ft.	$965/sq. ft.
30 Battery Ln	$2.53M	3,200 sq. ft.	$791/sq. ft.
597 Beavertail Rd	$7.82M	5,300 sq. ft.	$1,475/sq. ft.
541 Seaside Dr	$4.2M	3,400 sq. ft.	$1,235/sq. ft.
4 Dewey Ln	$4.05M	2,700 sq. ft.	$1,500/sq. ft.

Step 2: Adjusting for Size

Since the planned home at 245 Seaside Dr will be 4,000 sq. ft., I used an estimated price per square foot within the market range:

• Conservative: $1,200/sq. ft. → $4.8M ARV
• Moderate: $1,350/sq. ft. → $5.4M ARV
• High-End: $1,500/sq. ft. → $6.0M ARV
• Premium Luxury (based on 4 Dewey Ln & 597 Beavertail Rd): $7.1M

Since 245 Seaside Dr is a prime location and waterfront lots in Jamestown have high demand, I conservatively estimate $1,500/sq. ft., leading to an ARV of:

4,000 sq. ft. × $1,500/sq. ft. = $6.0M – $7.1M

Step 3: Justification of ARV at $7.1M

• Waterfront Location: High demand for oceanfront properties in Jamestown.
• Luxury Market Trends: High-end buyers are paying $1,200 – $1,500 per sq. ft. for new construction.
• Comparable Sales Support: 4 Dewey Ln and 597 Beavertail Rd confirm the $1,500/sq. ft. estimate is realistic.
• Low Inventory: Waterfront lots in Jamestown are scarce, increasing property value.