Real Estate - Cameron White - SURV REAL ESTATE INC

Azure Project Evaluation Calculator | Cameron White Homes

Project Inputs

Project Name

Submarket Must match Submarket Scores

Score: 80.0

Units / Lots

Avg Sale Price / Unit ($)

Finished Sq Ft / Unit (avg)

Land Cost (total, incl. closing) ($) ~$50K/lot raw, S. Utah Co. — VERIFY with comps

Site Development / Lot ($)

Hard Cost / Sq Ft (vertical) ($) Entry spec — VALIDATE vs Azure actuals

Soft Costs (% of hard+site) Design, eng, permits, fees, insurance

Contingency (% of hard+site)

Selling Costs (% of revenue) Commissions, title, concessions, marketing

Construction Loan LTC (%)

Interest Rate (annual %)

Months: Entitlement + Development

Months: Vertical Build (per phase)

Absorption (sales per month) Check vs submarket DOM data

Computed Economics

Gross Revenue $11,880,000

Vertical Hard Costs $4,684,800

Site Development $1,560,000

Soft Costs $749,376

Contingency $312,240

Selling Costs $653,400

Total Project Months 25.6

Total Cost Before Interest $9,159,816

Construction Debt $6,869,862

Interest Carry (55% avg balance) $604,548

TOTAL PROJECT COST $9,764,364

        GROSS PROFIT
        $2,115,636
      

        Gross Margin %
        17.8%
      

Equity Required $2,894,502

Breakeven Price / Unit $406,848

Price Cushion to Breakeven 17.8%

1.73x

Equity Multiple

34.3%

Annualized ROE

$50,000

Land / Lot

Deal Gates

—

Market Gate
Submarket score ≥ 65

Score: —

—

Margin Gate
Gross margin ≥ 16%

—

Equity Gate
Multiple ≥ 1.35x

—

Price-Band Gate
ASP within $350K–$650K

Advisory — fastest absorption bands per MLS data

—

Cushion Gate
≥ 10% to breakeven

—

Verdict

Calculating…

Gates are Azure policy defaults — tighten/loosen deliberately, not deal-by-deal. This tool screens; it does not replace lot-level diligence (water will-serve, soils, title, entitlement risk).

Sensitivity — Gross Margin % (ASP vs Hard Cost $/sf)

Cost ↓ / ASP →	−10%	−5%	0%	+5%	+10%

Red Zone (<12%) — deal fails on normal overrun + price miss Caution (12–16%) — below margin gate Pass (≥16%) Current scenario

Submarket Scores Reference

Submarket	Score

Scores from Utah Builder Site Selection Model v1. If model weights change, update here. Gate threshold: ≥ 65 = PASS.