Lofty 6117 Hyde Flats Road 21

Lofty 6117 Hyde Flats Road 21

Print
Location
Black Creek, NY
Projected Return
37.2%

Company Description

30 Acres of Vacant Farm Land in Black Creek, NY

Offering Details

  • The owner, Hyde Flats LLC, is selling equity in their vacant farm land to investors. They plan to hold at least 51% of the total equity
  • Hyde Flats LLC will pay investors a Rental Yield of 7%
  • Hyde Flats LLC will pay for 100% of the maintenance costs and property taxes
  • View additional terms here

Property Details

  • Vacant farm land in upstate New York, owned free-and-clear with no debt. View parcel dimensions here.
  • Drone video footage
  • The owner's plan is to sell the land in 3-5 years and realize the appreciation. A governance vote will take place at this time to determine if investors would like to sell the land.
  • Per the Comparables sheet, the average Price/Acre of comparable land was in 2019 was $810/acre. The appraised Price/Acre of this land parcel in 2024 is $2,034/acre. This is a 30.2% annual appreciation rate over a 5 year period. The broker who provided the comparables sheet expects a similar rate of appreciation to continue. The owner advised that neighboring counties start at $3,000 - $3,300/acre and south in Pennsylvania the land starts at around $5,500/acre.
  • The owner has been a residential real estate investor since 2012 and started purchasing land in 2021. They own 5 other parcels in New Jersey and New York totaling 45 acres, and have another 100 acres pending under contract. Hyde Flats plans to list the additional land parcels on Lofty.
  • The owner has been in conversation with a solar production company with the state of New York to potentially add solar panels in the future. More information can be viewed here and here.
  • A contract is pending with a local farmer who may lease the farmland for $40/acre to grow corn or wheat. This revenue stream will cover the owners debt service.
  • The owner is under contract with Basecamp Leasing to find a hunter who will rent the land for hunting season.

Due Diligence Documents

Amount Raised : $0
Reveal the Score by Voting
_
Additional ratings from other users are needed to determine a viable CrowdScore for this deal.
The "CrowdScore" for this deal is determined by user ratings and other factors using our proprietary algorithm.
The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
The progress made thus far in demonstrating that the business has viability, a customer base or other business traction.
Business Traction
The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
The value of the company compared to similar companies raising money from investors.
Valuation

Research Reports

No reports have been submitted

Become a Reporter

0 Comments