| PROPERTY | LOCATION | SF | SALE PRICE | $/SF | DATE |
|---|---|---|---|---|---|
| Comp 1 | 1923 SW 22nd Ave | 2,150 | $1,032,000 | $480 | Oct 2025 |
| Comp 2 | 2045 Coral Way | 2,280 | $1,140,000 | $500 | Sep 2025 |
| Comp 3 | 1756 SW 24th St | 2,100 | $1,008,000 | $480 | Nov 2025 |
| Comp 4 | 1890 SW 21st Ter | 2,350 | $1,175,000 | $500 | Aug 2025 |
| AVERAGE | $490 | - | |||
| MEDIAN | $490 | - | |||
| METRIC | LOW | BASE | HIGH |
|---|---|---|---|
| Assumed $/SF | $440 | $490 | $540 |
| Gross Sale Price (ARV) | $968,000 | $1,078,000 | $1,188,000 |
| Broker Commission (4%) | ($38,720) | ($43,120) | ($47,520) |
| Closing & Transfer (1.5%) | ($14,520) | ($16,170) | ($17,820) |
| Total Selling Costs (5.5%) | ($53,240) | ($59,290) | ($65,340) |
| Net Sale Proceeds | $914,760 | $1,018,710 | $1,122,660 |
| Total Project Cost | ($824,758) | ($824,758) | ($824,758) |
| Net Profit | $90,002 | $193,952 | $297,902 |
| LINE ITEM | CALCULATION | ANNUAL AMOUNT |
|---|---|---|
| Gross Potential Rent (GPR) | $2,700/mo × 12 | $32,400 |
| Other Income | Pet rent, parking | $1,200 |
| Gross Potential Income (GPI) | $33,600 | |
| Less: Vacancy & Credit Loss (5%) | $33,600 × 5% | ($1,680) |
| Effective Gross Income (EGI) | $31,920 |
| CATEGORY | % OF EGI | ANNUAL AMOUNT |
|---|---|---|
| Property Taxes | 12% | ($3,830) |
| Insurance | 5% | ($1,596) |
| Property Management | 8% | ($2,554) |
| Repairs & Maintenance | 5% | ($1,596) |
| Landscaping | 2% | ($638) |
| Replacement Reserves | 3% | ($958) |
| Total Operating Expenses | 35% | ($11,172) |
This ground-up development opportunity presents a compelling risk-adjusted return profile. The property's location in an established Miami neighborhood with strong comparable sales supports the projected ARV. Construction costs are in line with current market rates for the selected build quality. The 20%+ ROI provides adequate margin for contingencies while delivering attractive investor returns.
This pro forma is for informational purposes only and does not constitute financial, legal, or investment advice. All projections are estimates based on current market conditions and assumptions that may not materialize. Actual results may vary significantly. Consult with qualified professionals before making any investment decisions.