Lofty 5 Warwick Pl

Single Family Home in Palm Coast, Florida

Offering Details

Calixte Duffaut is transferring his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
Tokens represent direct ownership in the LLC that owns the property. Calixte will maintain at least 10% ownership in the LLC indefinitely.
View proof of Calixte's ownership prior to the title transfer here. View the LLC documents here

This single family home is located in the desirable Pine Lakes neighborhood of Palm Coast, Florida, offering a tranquil cul-de-sac setting.
The home features three spacious bedrooms and two full bathrooms.
Positioned on a generous 10,019-square-foot lot
One or more of the photos above have been virtually staged.
The co-owner, Cal, advised the following:
The long-term plan is to convert the property into five individual studio units, each with an estimated rental income of $1,000 per month. To accomplish this, approximately $100,000 would be needed for renovations. This future development could yield a total gross rental income of $5,000 per month.
View photos of potential future renovations here.
View video of potential future renovations here.

This property has a loan of $205,200. View the loan documents here.
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.