201-209 Gard Street, Valdosta GA 31602 118923

Approved 5 lot planned dev of a quality (townhome style with 1 car garage) project consisting of 5 duplex buildings for a total of 10 units on 5 separate lots. This will allow them to be sold separately or remain together under one owner. Currently two parcels consisting of a .334 Acre and a 1.061 Acre for a total of 1.395 AC. Lots will have a shared driveway easement (please see site plan). Low maintenance designed plan to view in documents. Each side of the duplex 3/2 will contain 1008 heated sf and a 235 sf single car garage. Projected Proforma Cash Flow Statement at $895 rent per new unit with owner providing pest control and lawn service with rent plus allowing 29% expense ratio (new construction should be much lower) would yield a overall project cap rate on the 10 units of a solid 8.5-9% CAP RATE. (Proforma used 24K lot cost and 155k construction on each duplex.)