Lofty 49 Bannbury Ln

Newly Constructed (2023) Single Family Home located in Palm Coast, Florida

Offering Details

Calixte Duffaut is selling a portion of his property's equity on the Lofty marketplace.
Calixte manages the property and will maintain at least 10% equity in the property indefinitely.

Built in 2023
3 bed, 2 bath split floor plan home with open concept design
Entryway opens to a Family room on the left and a dining room on the right
Dining room flows into a spacious kitchen, perfect for cooking family dinners
Kitchen includes all new Whirlpool appliances and a breakfast bar, open to the living room
Spacious living room features a sliding glass door that leads to the back patio and large yard, perfect for entertaining on cool spring nights
Two spacious bedrooms are located separately from the owner's suite and share a large bathroom with a tub/shower combo
Owner's suite offers a private retreat with an ensuite bathroom featuring a large walk-in shower, walk-in closet providing ample storage space, and a vanity sink for added convenience
Laundry room includes a washer/dryer hookup and leads to the 2-car garage
Home is conveniently located near public schools, community centers, shopping, and other amenities that Palm Coast offers
Calixte advised that the tenant loves the house and is currently engaged in a credit repair process. She would like to renew the lease for $2,166 per month for an additional two years, during which she will continue to work on improving her credit. If she qualifies, she would like the option to purchase the house at its appraised value. Owners will have the opportunity to vote, via governance, to allow the tenant to purchase the property at this time.

This property has a loan of $297,415 with a balloon payment due on June 1st, 2028. View the loan documents here.
The seller, Calixte Duffaut, will follow the regular amortization schedule, even though the loan terms specify interest-only payments.
As Calixte pays down the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors are not responsible for the loan payments and have the ability to change this structure via a governance vote.