Tebassa Road Project
Tebassa Road, Jacksonville, Florida 32216
Project Details
The retail value of this property will be in the $230,000 to $240,000 range.
Loan Amount Requested: $165,000 (@70%/LTV)
- CMA Value (click here): $235,000
- Cost Analysis (click here)
Loan Amount Requested: $165,000 (@70%/LTV)
This traditional style 4 bedroom 3 bathroom home will include approximately 1,600 square feet of heated & cooled living space. It will have a two car garage with concrete driveway. It will have the typical interior and exterior finishes that are comparable to the other new construction homes in the area. The lot is significantly larger than the new construction projects in the area. The parcel of land is 87 feet wide and 313 feet in depth. The house will include front & rear porches, walk-in closets, a breakfast nook, formal dining and living room.
Utilities are currently running to the property and to the adjacent properties. The property is located inner city with power and water services present at the front of the property (at the street).
Utilities are currently running to the property and to the adjacent properties. The property is located inner city with power and water services present at the front of the property (at the street).
The home will be on a single story slab foundation. It will be constructed of wood with a brick/stucco exterior.
Maps of the Subject Property
Retail Buyer...
We have a retail buyer waiting to purchase this new construction single family residential home.
Maralyn has been in our housing program for 3 + years.
- Approval Letter (click here) for Maralyn Monroe (retail buyer)
Maralyn has been in our housing program for 3 + years.
- She has excellent credit.
- She has saved $10,000 for her down payment.
- She has paid us $8,000 as a non-refundable payment.
- She has an excellent DTI ratio.
Land Options...
Two Vacant Land Parcels
There are two parcels of land that are equal in size and dimensions available for purchase.
Option#(1):
We could purchase one parcel of land now. Complete the transaction and then buy the second parcel of land after we close on the first.
("pro") The over-all costs are less with purchasing just one parcel of land.
("con") The land could be purchased by another investor while we are working on the first project.
Option#(2):
We could purchase both parcels of land now.
("pro") We would secure a better price for purchasing both parcels.
("con") The cost would be greater.
("pro") We would separate the two parcels of land when we close and have the land locked up.
We can discuss the viability of purchasing one or two lots as we look at the project in more depth.
There are two parcels of land that are equal in size and dimensions available for purchase.
Option#(1):
We could purchase one parcel of land now. Complete the transaction and then buy the second parcel of land after we close on the first.
("pro") The over-all costs are less with purchasing just one parcel of land.
("con") The land could be purchased by another investor while we are working on the first project.
Option#(2):
We could purchase both parcels of land now.
("pro") We would secure a better price for purchasing both parcels.
("con") The cost would be greater.
("pro") We would separate the two parcels of land when we close and have the land locked up.
We can discuss the viability of purchasing one or two lots as we look at the project in more depth.
Information on the Builder
We have several "Builders" that we could use. ABT Construction Inc. is the one that we have selected for this project.
Click Here for more information on this general contractor.
Click Here for more information on this general contractor.