I am in contract for a duplex in Grandview where I plan to live in one side and rent out the other

Hey @Brad TooleyIt’s great to hear that you’re planning ahead and doing your research before jumping into your first deal—that’s a smart approach!

.$1,500/sq. ft.Step 2: Adjusting for SizeSince 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 ARVModerate: $1,350/sq. ft. → $5.4M ARVHigh-End: $1,500/sq. ft. → $6.0M ARVPremium Luxury (based on 4 Dewey Ln & 597 Beavertail Rd): $7.1MSince 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 – $7.1MStep 3: Justification of ARV at $7.1MWaterfront 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.Your ARV analysis looks pretty solid based on the comps you’ve used.

@Austin Brummett i would say do it if you plan to stick around. 

I would recommend calling your local codes department or planning board

These programs usually need a 700+ score. 

@Jaycee Greene I see, I would still love to stay connected as well given I plan on executing the BRRRR strategy on the MF units  I plan to acquire this year. 

Do you plan to flip it or hold as a rental? 

What’s your game plan for managing the park — hands-on or hiring a property manager?  

I have a 3BR, 2BA, 1380 sq. ft. home in the Villas neighborhood of Ft Myers that I plan on short term renting via AirBnB.