I subdivided a land from a property of mine. Spent 30k in survey, zoning, planning, cutting trees, demolishing a garage which is in between both lots, paving driveway for existing property. Now, I have offers for 150k to sell the land(5k sft) with variances and planning board approvals. We’re building side by side duplex, hiring subs ourselves. Waiting for city permit approval, loan for construction @10%. Estimated Construction cost is 420k(2688 sf total) based on estimates we have for all trades, includes school and fire impact fees required by the city. We have comps for duplex after construction at 750k. Plan is to rent out at 3k each per month. Some comps put at 400k each if converted to condos. Plan is to rent out a few years and sell them as condos preferably. Note: This will be our first ground up, but not new to gut rehabs. submitted by /u/Such_Occasion_5760 [link] [comments]