TITLE:
Build To Rent Log Cabin Community
CONTROL:
Owner
VALUE:
$550,000
LOAN:
$280,000
EQUITY:
$270,000
TYPE:
Development
HAVE:
I'm looking to partner with financial liquidity partner and have builders ready to go. I'm also open to developer/builder partnership dong 15% preferred.
ADDRESS:
1715 Tin Cup Road, Mahomet, Illinois
BENEFITS TO NEW OWNER:
Equity growth, cash flow, and great location with highest median income city in the County. Located 10 minutes from University of Illinois.
GROSS SCHEDULED INCOME:
$93,600 Projected
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$93,600
EXPENSES:
$37,600
NOI:
$56,000
DEBT SERVICE:
$21,000
CASH FLOW:
$35,000
CAP RATE:
10.18%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$175,000
$1,750
12%
10/15/2026
No
BENEFITS SOUGHT:
Financial and liquidity partner to get infrastructure and "build to rent" log cabin village. There is not a house under $200,000 for sale right now. Low supply.
CAN ADD:
I "can add" note 0-4% interest to builder/financial partner with me on this project approved and ready to go with contractor bids in hand. I have moved on site and expansion to demand with adjacent 24 acres for 86 acres total.
- 60+ rented SFR properties
REMARKS:
Phasing out 8 RV pads per phase. https://www.zillow.com/homedetails/1715-Tin-Cup-Rd-Mahomet-IL-61853/304906929_zpid/
COUNSELOR:
Quentin McNew
Tin Cup RV Park
501 N Neil, Suite 2
Champaign, Illinois, 61820
Phone: 2175524062
Email quentin@mcnewcapital.com
