Financial Proforma
DEVELOPMENT PROFORMA
$ Total $ / Unit $/SF
Gross Sales $31,500,000 $393,750 $450
Less: 50% Commissions ($945,000) ($11,813) ($14)
Less: Warranty $0 $0 $0
Net Proceeds $30,555,000 $381,938 $437
Land ($3,000,000) ($37,500) ($43)
Hard Costs (18,975,000) ($237,188) ($271)
Soft Costs (4,590,000) ($57,375) ($66)
Extra Financing - $0 $0
PROFIT $3,990,000 $49,875 $57
Return on Sales 12.7%
Return on Costs 14.5%
Project IRR 28.7%
Corporate Finance Institute®