Sparks, NV Town Home Concept Project

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Project Cost: ~$6,900,000

Expected Return: ~$11,340,000

45 Town homes on 31 Acres

(Large portion is too steep for major development)

 
Parcel "B" is selected Area

Parcel "B" is selected Area

Financing information:

  • 50% Nevada State Development Corporation, low interest rate, collateral limited to assets financed

  • 40% CEFCU loan

  • 10% Prenzler and Partner

Cash Cost: $414,000 (Partnership)

Building Cost Per SFT: $80

Sale Price Per FT: $175 ($245,000)

Post commission cost, average unit size at 1400

Overhead Costs: $1,860,000

Land cost ($1,650,000), plans, landscaping, main utility hookup, and streets

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