757 Poplar Road Stafford, VA
PRICE: $54,000
PROPERTY DETAILS
LOCATION: 757 Poplar Road is located in Stafford, Virginia within the Falmouth Hartwood community. The lot is within 1 mile from North Stafford High School and is close to areas like Quantico and Fredericksburg.
PROPERTY DESCRIPTION: 757 Poplar Road is a 17,929 square foot lot, Zoning code A1, Residential Land Use. The seller has provided the plat and previously approved plans to build a home on the lot. This 0.41 acre lot is right next door to a single family residence (photo provided).
Comps
88 Arden Lane Sold $473,000
30 Churchill Lane Contract $539,900
84 Cranston Lane Contract $539,900
THE NUMBERS
757 Poplar Road — Financial/Investor Breakdown
Purchase, Closing/Carrying Costs, & Rehab Costs:
Purchase Price: $54,000
Buildable Parcel
Purchase Closing Costs (3%): $1,620
Carrying Costs: $560/yr. or $47/mo.
Rehab Cost: 235,000 (clearing land/build out)
Total Funded: $291,274 @ 14 months
Investment & Profit
Gross After-Rehab Value (ARV) = $520,000
Closing and Commissions (7%): $36,400
NET ARV: $483,600
NET Profit: $192,326
Profit = $192,326 (65.84% ROI / 57.22% Annualized) Based on no loans or leverage
If Interested please reach out to me for pictures and more detailed information.