Estimated Costs for a Factory-built Three-Bedroom & Two-Bath,
Two-Story Town Home, with a garage
Developed by a Local Builder-Developer
|
ESTIMATED COSTS FOR SIX UNITS: The following is an estimate from a Ventura development based on costs as they existed for this model of home in 2003-04. Costs are subject to changes in material and labor costs, permit fees, financing costs, etc. Estimates will be completed for Santa Barbara County soon. (Assuming your land is approximately a 10,000 SF piece of land). |
|||
| Ventura County | Santa Barbara County | ||
| Land Cost | $285,000 | Probable Santa Barbara Land Cost | $875,000 |
| Cost of Houses #6@$68,000 | $408,000 | May be extra for stucco siding for Santa Barbara | $408,000 |
| Transportation (12 sections) |
$ 28,800 | Unknown (estimate w/same) | $ 28,000 |
| Permits & Fees | $102,700 | Unknown (estimate w/same) | $102,700 |
| Insurance | $ 5,556 | Unknown (estimate w/same) | $ 5,556 |
| Plans & Engineering | $ 3,100 | Unknown (estimate w/same) | $ 3,100 |
| Legal for Condo Conversion | $ 3,000 | Unknown (estimate w/same) | $ 3,000 |
| Offsite & Utilities | $ 6,000 | Unknown (estimate w/same) | $ 6,000 |
| Grading, Foundation, Setup, Finish, Garage, Etc. | $501,000 | Unknown (estimate w/same) | $501,000 |
| Fencing | $ 13,000 | Unknown (estimate w/same) | $ 13,000 |
| Landscaping | $ 12,000 | Unknown (estimate w/same) | $ 12,000 |
| Loan Interest | $ 57,000 | Unknown (estimate w/same) | $ 57,000 |
| Miscellaneous | $ 25,000 | Unknown (estimate w/same) | $ 25,000 |
| Total Cost | $1,460,156 | Total Cost | $2,039,356 |
| Sales Price each | $ 350,000 | Sales Price (w/stipulations) | $ 450,000 * depends on Inclusionary Fees |
| Sales Price total | $2,100,000 | Sales Price Total | $2,700,000 |
| Gross Profit | $ 639,844 | Gross Profit | $ 660,644 |
| Cost of Sales @ 10% | $ 210,000 | Cost of Sales @ 10% | $ 270,000 |
| Net Profit | $ 429,844 | Net Profit | $ 390,644 |
| Up to 25% of Net
Profit (to land owner) |
$ 107,461 | Up to 25% of Net
Profit (to land owner) |
$ 97,661 |
| Balance of Net is split between CPR & it's dev. partner | $ 322,383 / 2=
$ 161,191 per partner |
CPR Pays HRU 25% as the parent non-profit of CPR: $40,297 (CPR keeps a larger portion of the income stream to build more homes for sale to the middle class, for sale @ Cost-Plus, or market rate sales to the Upper Class. | |