Project Summary
Purchase - Cash	$   300,000.00		Road Length
House Sale	$  (150,000.00)	Existing	600
Demo Barn	$     10,000.00
Engineering/prep	$     25,000.00
Gravel	$     18,000.00
Gas	$       4,200.00
Electric	$       9,600.00
Ameritech	$                -
Asphalt	$     12,000.00
Approach	$       5,000.00
Water	$     12,000.00
Sewer	$     12,000.00
Carrying Cost	$     29,736.00	two years @ 6%
TOTAL	$   287,536.00
Cost per lot	$     47,922.67	Number of lots:	6
Sale price per lot	$     69,900.00
Yield Per lot	$     21,977.33
Local Lot Sales	$     85,000.00	cheapest comp
Internal Rate of Return
25%	downpayment			avg bal financed yr 1		$        229,388
$                       101,950	downpayment			avg bal financed yr 2		$          76,463
$                       305,850	amount financed			avg bal financed yr 3		$                 -
10	year loan
6.00%	interest rate
($3,395.56)	monthly mortgage pmt
3	sold in year 1
3	sold in year 2
0	sold in year 3
			0	1	2	3
downpayment			$     (101,950)
House Sale				$                  150,000
land sales				$                  209,700	$   209,700	$                 -
payoff mortgage principle				$                 (152,925)	$  (152,925)	$                 -
interest pmts				$                   (13,763)	$     (4,588)	$                 -
	113.3%	IRR	$     (101,950)	$                  193,012	$     52,187	$                 -