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For Sale | 165 Townhome Lots Lake Park Villas
Wylie, TX
TOM METCALFE COMMERCIAL REAL ESTATE
Offering Memorandum
Tom Metcalfe214-458-8787
[email protected] Legacy Dr
Suite 204Plano, TX 75024
The information contained within is deemed to be reliable, however Tom Metcalfe makes no claim as to its accuracy.
Property Summary:
Sales Price:
Sell Per Lot Total
72 finished 93Paper Lots
$57,575 $9.5M
Lot Size:
Land Size:
Zoning:
Market:
Submarket:
Cross Streets:
Schools:
City:
County:
30ft x 100ft
+/- 26.635 acres
Townhomes
DFW
Wylie/Rockwall/Rowlett/
Sachse/Murphy
Troy Rd and County Line
Rd (Vinson Rd)
Rockwall ISD
Wylie
Rockwall
Property Overview:
Lake Park Villas Townhomes is a +/- 26 acre development
in Wylie, Texas. The land is platted for 165 Townhomes. Lake
Park Villas is situated at the northwest corner of Troy Rd and
County Line Rd and is just across the street from D.R
Horton’s newly developed lakefront Watermark community.
The area is being rapidly developed by well-known local
and national builders. Its close proximity to Highway 78 and
Bush Turnpike (SH 190) provides easy access. Lake Park
Villas is in walking distance of Lake Ray Hubbard. The
current engineer’s opinion of development cost is around
$23,500/lot and with a retail lot value of $60-$65,000/lot, the
builder has the potential to make about$18-$20,000 gross profit
per lot. Furthermore, the civil engineering cost of
approximately $300,000 has been paid, which is an
additional savings of $1800/lot. The preliminary plat and
first phase construction plans have been approved by the
City of Wylie, which will allow the builder/developer
to start construction quickly after closing the transaction.
This is a great opportunity for a builder/developer to obtain
a shovel ready development property in a market which needs
more lots
to meet strong demands. The demand for "Homes for Lease" is strong with 1,500-2,000 SF homes leasing for as much as $1.65 per square foot. Property Highlights:
• 165 townhome lots, being sold with engineering
plans.
• Ready to develop.
• Significant profit potential.
• In rapid developing area.
• Walking distance to Lake.
• Close to highways.
• Highly desirable Rockwall ISD.
湖滨公园连体别墅项目- 简介 Lake Park Villas – Executive Summary
The information contained within is deemed to be reliable, however Tom Metcalfe makes no claim as to its accuracy.
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Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
A. EXCAVATION
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
CLEARING AND GRUBBING ACRE 8.00 800.00$ 6,400.00$
UNCLASSIFIED EXCAVATION CY 670 2.25$ 1,507.50$
IMPORT CY 45,650 8.00$ 365,200.00$
ROUGH LOT GRADING LOT 93 250.00$ 23,250.00$
FINAL LOT GRADING LOT 93 150.00$ 13,950.00$
OVER-EXCAVATE & MOISTURE CONDITION PAD CY 45,467 2.30$ 104,573.33$
MOISTURE BARRIER - 6-MIL POLY SY 17,670 1.00$ 17,670.00$
EROSION CONTROL LOT 93 450.00$ 41,850.00$
CONSTRUCTION ENTRANCE EA 1 2,500.00$ 2,500.00$
SILT FENCE LF 3,050 1.70$ 5,185.00$ SWPPP LS 1 4,500.00$ 4,500.00$
SUB - TOTAL EXCAVATION 586,585.83$
B. SANITARY SEWER SYSTEM
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
8" SDR-35 P.V.C. PIPE (0'-10' DEEP) LF 1,882 27.50$ 51,755.00$
ADDITIONAL SANITARY DEPTH VF 1,482 2.00$ 2,964.00$
4" SERVICE LINES EA 56 675.00$ 37,800.00$
4' DIAMETER MANHOLE EA 4 3,500.00$ 14,000.00$
CLEANOUT EA 1 600.00$ 600.00$
ADDITIONAL MANHOLE DEPTH (>8') VF 17 120.00$ 2,040.00$
CONNECT TO EXISTING STUB EA 4 1,500.00$ 6,000.00$
2000 PSI CONCRETE ENCASEMENT LF 0 100.00$ -$
TRENCH SAFETY LF 1,882 1.00$ 1,882.00$
TESTING (EXCLUDING GEOTECH) LF 1,882 1.25$ 2,352.50$ INSPECTION FEE PERCENT 3.0% 119,393.50$ 3,581.81$
SUB - TOTAL SANITARY SEWER SYSTEM 122,975.31$
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
C. STORM SEWER SYSTEM
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
18" R.C.P. LF 513 49.50$ 25,393.50$
24" R.C.P. LF 239 63.60$ 15,200.40$
27" R.C.P. LF 0 71.00$ -$
6' INLET EA 3 3,500.00$ 10,500.00$
2' x 2' "Y" INLET EA 1 2,700.00$ 2,700.00$
INLET PROTECTION EA 4 200.00$ 800.00$
4' STORM SEWER MANHOLE EA 1 4,400.00$ 4,400.00$
5' STORM SEWER MANHOLE EA 0 5,700.00$ -$
18" SLOPED HEADWALL EA 2 1,950.00$ 3,900.00$
24" HEADWALL EA 1 2,000.00$ 2,000.00$
12" ROCK RIP-RAP SY 23 75.00$ 1,725.00$
CONCRETE FLUME SY 0 25.00$ -$
REMOVE EX. STORM PIPE LF 35 120.00$ 4,200.00$
R & R PAVEMENT SY 56 100.00$ 5,600.00$
TRENCH SAFETY LF 752 1.00$ 752.00$
TV TEST LF 752 1.50$ 1,128.00$ INSPECTION FEE PERCENT 3.0% 77,170.90$ 2,315.13$
SUB - TOTAL STORM SEWER SYSTEM 80,614.03$
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
D. WATER DISTRIBUTION SYSTEM
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
8" P.V.C. WATERLINE LF 2,468 29.50$ 72,806.00$
8" GATE VALVE & BOX EA 4 1,330.00$ 5,320.00$
12" GATE VALVE & BOX EA 1 2,316.00$ 2,316.00$
8" X 8" TAPPING SLEEVE & VALVE EA 1 2,500.00$ 2,500.00$
12" X 8" TAPPING SLEEVE & VALVE EA 1 3,200.00$ 3,200.00$
WATER LINE BORE LF 0 315.00$ -$
CONNECT TO EXISTING WATER LINE EA 2 1,000.00$ 2,000.00$
LOWER EXISTING 8" WATERLINE LF 0 30.00$ -$
1" SINGLE WATER SERVICE EA 93 950.00$ 88,350.00$
1" IRRIGATION WATER SERVICE EA 1 1,100.00$ 1,100.00$
1" IRRIGATION IMPACT FEE EA 1 3,300.00$ 3,300.00$
FIRE HYDRANT ASSEMBLY EA 4 4,100.00$ 16,400.00$
TRENCH SAFETY LF 2,468 0.50$ 1,234.00$
TESTING (EXCLUDING GEOTECH) LF 2,468 1.00$ 2,468.00$ INSPECTION FEE PERCENT 3.0% 200,994.00$ 6,029.82$
SUB - TOTAL WATER DISTRIBUTION SYSTEM 207,023.82$
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
E. STREET PAVING
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
6" REINF. CONCRETE STREET PAVEMENT SY 7,363 35.00$ 257,705.00$
6" ASPHALT PAVEMENT SY 0 45.00$ -$
7" SUBGRADE PREPARATION SY 7,810 2.25$ 17,572.50$
HYDRATED LIME (41#/SY) SY 7,810 1.80$ 14,058.00$
HYDRATED LIME TON 160 145.00$ 23,215.23$
CONCRETE LAY DOWN CURB & GUTTER LF 3,925 10.00$ 39,250.00$
4' CONCRETE SIDEWALK LF 2,399 21.00$ 50,379.00$
5' CONCRETE SIDEWALK LF 1,705 26.00$ 44,330.00$
BARRIER FREE RAMPS EA 4 1,350.00$ 5,400.00$
LF 0 11.00$ -$
REMOVE STREET BARRICADE EA 3 500.00$ 1,500.00$
REMOVE GUARDRAIL LF 102 30.00$ 3,060.00$
SAWCUT & REMOVE EXISTING PAVEMENT LF 0 15.00$ -$
SAWCUT & REMOVE EXISTING CURB LF 0 15.00$ -$
TRAFFIC HANDLING LS 1 1,500.00$ 1,500.00$ INSPECTION FEE PERCENT 3.0% 457,969.73$ 13,739.09$
SUB - TOTAL STREET PAVING 471,708.82$
F. RETAINING WALLS
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
1' RETAINING WALL LF 0 23.00$ -$ 2' RETAINING WALL LF 0 36.00$ -$
SUB - TOTAL RETAINING WALLS -$
PAVEMENT HEADER
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
G. MISCELLANEOUS ITEMS
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
STREET LIGHT EA 4 3,500.00$ 14,000.00$
FRANCHISE UTILITY ALLOWANCE EA 93 3,000.00$ 279,000.00$
4" ELECTRIC CONDUIT LF 100 10.00$ 1,000.00$
STREET SIGNS EA 1 500.00$ 500.00$
STOP SIGNS EA 2 150.00$ 300.00$
GROUP MAILBOX (15 LOTS/MAILBOX) EA 6 3,500.00$ 21,000.00$
WATER METER FEE LOT 93 2,100.00$ 195,300.00$
SANITARY SEWER IMPACT FEE LOT 0 773.48$ -$
THOROUGHFARE IMPACT FEE LOT 0 624.00$ -$
WATER BONDS PERCENT 2% 207,023.82$ 4,140.48$
SANITARY SEWER BONDS PERCENT 2% 122,975.31$ 2,459.51$
PAVING BONDS PERCENT 2% 471,708.82$ 9,434.18$
STORM SEWER BONDS PERCENT 2% 80,614.03$ 1,612.28$
PLATTING FEE LS 1 1,509.20$ 1,509.20$
PARK FEE LOT 93 800.00$ 74,400.00$ LANDSCAPE EA 0 -$ -$
SUB - TOTAL MISCELLANEOUS ITEMS 604,655.64$
H. CONTRUCTION MATERIAL TESTING - GEOTECH
ITEM DESCRIPTION UNIT QUANTITY UNIT PRICE ITEM COST
WATER TESTING LF 2,468 0.50$ 1,234.00$
SANITARY SEWER TESTING LF 1,882 0.50$ 941.00$
STORM SEWER TESTING LF 752 0.50$ 376.00$
EARTHWORK TESTING CY 46,320 0.10$ 4,632.00$ PAVEMENT TESTING SY 7,363 1.00$ 7,363.00$
SUB - TOTAL CONSTRUCTION MATERIAL TESTING - GEOTECH 14,546.00$
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
PROJECT NAME: Lake Park Villas - Ph. 2 LOTS: 93 DATE: 07-26-17
CITY: Wylie, TX LF STREET: 2,089 CREATED BY: DFW
JOB NUMBER: 63225201 NET ACRES: 8 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
SUMMARY
A. EXCAVATION 586,585.83$
B. SANITARY SEWER SYSTEM 122,975.31$
C. STORM SEWER SYSTEM 80,614.03$
D. WATER DISTRIBUTION SYSTEM 207,023.82$
E. STREET PAVING 471,708.82$
F. RETAINING WALLS -$
G. MISCELLANEOUS ITEMS 604,655.64$ H. CONSTRUCTION MATERIAL TESTING - GEOTECH 14,546.00$
SUB-TOTAL: 2,088,109.44$
CONTINGENCIES: 10% 208,810.94$
TOTAL CONSTRUCTION COSTS: 2,296,920.39$
Wylie Vinson Troy Holding © KHA
OPINION OF PROBABLE COST
Lake Park Villas LOTS 93 DATE 07-31-17
Wylie, Texas LF STREET 2,089 CREATED BY: TK
063225201 NET ACRES: 12.3 CHECKED BY: JEMGROSS ACRES: 26.6 REVISED BY:
PROJECT NAME:
CITY:
JOB NUMBER:
NOTES:
General
1. Permit fees, impact fees for homes and amenity center, pro-rata fees, etc. are not included.
2. Land cost, interest, legal, marketing, financing, closing costs, cost of sales, HOA funding, overhead, maintenance, insurance, taxes, etc. are
not included.
3. Engineering, construction administration and development management fees are not included.
4. OPC is based on the construction plans for Phase 1 prepared by KHA dated June 2017, as submitted to the City.
5. This OPC is copyrighted by Kimley-Horn Associates and cannot be reproduced without expressed written permission.
6. Cost of easement acquisition, if necessary, is not included within this OPC.
7. Unit prices are subject to market conditions and may vary from this OPC.
8. Inflation is not factored in this OPC.
9. USACE coordination, permitting and mitigation cost, if required, are not included in this OPC.
10. OPC has been prepared without franchise utility communication.
11. Budgeting by line item, sections, or divisions should be avoided. OPC line item costs are less accurate than section/division subtotals,
and section/division subtotals are less accurate than the total project cost.
12. Questions regarding this OPC should be directed to Kimley-Horn and Associates, Jay Marsh, P.E. (469) 287-5251.
Excavation and Grading
1. OPC assumes all the clearing, grubbing, excavation, rough grading, etc. will be performed at one time.
2. Moisture conditioning is based upon the geotechnical report.
3. Rock excavation is not included. If rock is encountered, the excavation budgets should be adjusted accordingly.
Sanitary Sewer
1. OPC assumes the existing wastewater treatment plant has sufficient capacity to accommodate this project.
Storm Sewer
1. No offsite easement cost, if necessary, is included in this OPC.
2. No downstream improvements, if necessary, are included in this OPC.
Water Distribution
1. OPC assumes 8-inch water is required along all residential streets & adequate capacity is available immediately adjacent.
2. Waterline cost includes all fittings, tees, crosses, etc.
3. Fire hydrant assembly includes all fittings, tee and valves.
4. OPC was prepared without the benefit of a water model or analysis.
5. The relocation of the existing perimiter water line, as requested by East Fork SUD, is not included in this OPC.
Street Paving
1. Street pavement section is based upon city requirements for residential streets.
2. Troy Road and Vinson Road improvements are not included.
3. No dedicated guest parking is provided beyond those provided in the plan set.
Retaining
1. No retaining walls are included in the OPC or proposed on the grading plan.
Miscellaneous
1. Gas, electric and communication service cost is assumed on a per lot basis.
2. OPC does not include an assumed budget for the amenity center.
3. OPC does not provide a budget allowance for the entry feature, perimeter fencing, or open space improvements. Any desired budget
allowances should be confirmed by the client with the landscape architect.
4. Engineering and survey fees are not included in this OPC.
5:11 PM
7/31/2017
K:\FRI_Civil\63225200 Wylie Lakeside\Admin\OPC\2017-07-27 Lakepark Villas OPC.xlsx 1 of 1
Lake Park Villas - Plat
The information contained within is deemed to be reliable, however Tom Metcalfe makes no claim as to its accuracy.
Regional Maps
Firewheel mall
Project Location
Legacy west Lake Lavon
Lake Ray Hubbard
Lake Park Villas – Location Overview
Wylie
Telecom Corridor
The information contained within is deemed to be reliable, however Tom Metcalfe makes no claim as to its accuracy.
Location Highlights:
• Wylie is ranked the #1 best small city in the south for families and #2 in the nation according to Forbes andNerdWallet which can be attributed to affordable home prices and schools which have an average rating of9 out of 10 on GreatSchools.org.
• With a population increase of 174% between the 2000 Census and 2010 Census, Wylie is considered oneof the fastest growing cities in the nation.
• Project location is in walking distance to Lake Ray Hubbard which span 22,745 acres and offers numerousactivities including camping, boating, fishing, swimming, and more.
• Wylie home values have increased 13.3% over the trailing 12-months and are predicted to rise 4.5% withinthe next year according to Zillow (March 2017).
• Located 40-miles from DFW International Airport which is the world’s 3rd largest airport in operationsand 11th largest in total passengers, and 30-miles from Dallas Love Field Airport.
• Approximately 30-miles northeast of the Dallas CBD which employs over 135,000 people. Within 20-30minutes driving distance to famous Cityline development and Legacy West project which bring thousandsof jobs.
• Project is close to highway 78 which hosts major retailers. Close to schools, parks and medical center andis located in a very rapidly developing area with many national and local builders constructing thousandsof homes. Below is a few examples:
Builder Project Pricing Distance to Project
D.R Horton Watermark Starting from $314,000 Across street D.R Horton Braddock Place Starting from $319,000 0.5 miles Megatel Braddock Place Starting from $349,000 0.5 miles Windsor Homes Braddock Place Starting from $290,000 0.5 miles Windsor Homes Alanis Crossing Starting from $300,000 1 mile
The Dallas/Fort Worth (DFW) economy is one of the most diverse in the country. Today, the local economy supports an employment base reaching 3.6 million workers, and during the year-ending December 2016, DFW ranked second in the nation in both percentage job growth and absolute job growth amongst the 20 largest employment bases. Over that time, the metro area added 113,500 new jobs, representing an increase of 3.26%. DFW, along with New York, were the only two MSAs nationwide to add more than 100,000 jobs during 2016. Moreover, Moody’s Economy.com forecasts that from 2017 through 2021 DFW will rank first in the nation in population growth adding 593,191 new residents and first in the nation in employment growth, creating 305,868 new jobs.
The information contained within is deemed to be reliable, however Tom Metcalfe makes no claim as to its accuracy.
11-2-2015
TYPES OF REAL ESTATE LICENSE HOLDERS: A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.
A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:
AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:
Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and
buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction. Must not, unless specifically authorized in writing to do so by the party, disclose:
ᴑ that the owner will accept a price less than the written asking price;ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; andᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to
disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH: The broker’s duties and responsibilities to you, and your obligations under the representation agreement. Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.
LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.
Information About Brokerage Services Texas law requires all real estate license holders to give the following information about
brokerage services to prospective buyers, tenants, sellers and landlords.
.
Designated Broker of Firm License No. Email Phone
Licensed Supervisor of Sales Agent/Associate
License No. Email Phone
Licensed Broker /Broker Firm Name or Primary Assumed Business Name
License No. Email Phone
Regulated by the Texas Real Estate Commission Information available at www.trec.texas.gov
IABS 1-0
Date Buyer/Tenant/Seller/Landlord Initials
Sales Agent/Associate’s Name License No. Email Phone
Tom Metcalfe 0302612 [email protected] 214-458-8787