KATES’ COVE 13 FINISHED LOTS

$403,000 ($31,000/lot) (CLOSING BY 7/30) Chuck Mitchell (912) 660-3098 cmitchell@pscommercial.net

Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

OFFERING: 13 finished lots

ZONING: R-1 under City of Rincon.

LOCATION: The site is located just 1.7 miles north of the heart of Rincon, GA off Lexington Avenue. The site is convenient to all the area’s shopping, schools, and recreation.

DESCRIPTION: This offering consists of 13 finished lots in the Kate’s Cove subdivision. Kate’s Cove is a 90-homesite community, basically split by a long, fully-stocked lagoon and which is crossed by a bridge. There are 50 homesites before you cross the bridge and another 40 homesites after you cross the bridge. The 13 lots in this offering are in the area after you cross the bridge. Lot sizes vary between 0.28-acre up to 0.62 acre and have a minimum of 100’ of frontage at the curb, which in some cases ranges up to 176’.

UTILITIES: All utilities are to the site.

SCHOOLS – The Effingham school system is generally highly-regarded. Kate’s Cove is served by Ebenezer Elementary, Ebenezer Middle, and Effingham County High School.

HOME DESIGN/ARB – Architectural guidelines govern construction in Kate’s Cove and require a minimum square footage of 2,400 sq. ft. with brick, stucco, hardiplank (or any combination thereof) on the exterior.

OPPORTUNITY: This is an excellent opportunity to acquire homesites at an excellent price allowing for a nice return in a community where price points between $240,000 and $340,000 should do very well as the homesite price only accounts for between 9% to 13% at these prices – well below the traditional 20% seen in this market. Closed sale prices in the past 12 months in Kate’s Cove have averaged $337,500 with a sales price/sq. ft. of $97 – indicating a good upside potential for builder margins. Current listing prices are lower at $277,500 – still providing a lot cost to sales price ratio of 11%.

2 R2740-00000-002-000 .62 AC LOT 2 OUT 100-44C1 0.6211 R2740-00000-011-000 .45 AC LT 11 OUT 100-44C1 0.4512 R2740-00000-012-000 .41 AC LT 12 OUT 100-44C1 0.4113 R2740-00000-013-000 .42 AC LT 13 OUT 100-44C1 0.4214 R2740-00000-014-000 .52 AC LT 14 OUT 100-44C1 0.5215 R2740-00000-015-000 .32 AC LT 15 OUT 100-44C1 0.3226 R2740-00000-026-000 .49 AC LT 26 OUT 100-44C1 0.4927 R2740-00000-027-000 .34 AC LT 27 OUT 100-44C1 0.3439 R2740-00000-039-000 .37 AC LT 39 OUT 100-44C1 0.3740 R2740-00000-040-000 .28 AC LT 40 OUT 100-44C1 0.2841 R2740-00000-041-000 .28 AC LT 41 OUT 100-44C1 0.2846 R2740-00000-046-000 .39 AC LT 46 OUT 100-44C1 0.3947 R2740-00000-047-000 .40 AC LT 47 OUT 100-44C1 0.40

Lot Number

TMS Legal Description Acres

KATE'S COVE LOTS FOR SALE

This exhibit was last updated on 6/7/2018

Rincon

Springfield

Savannah Pooler

Hardeeville

KATE’S COVE DRIVE-TIMES LOCATOR Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/6/2018 11:30 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

5 MILES

15 MILES

10 MILES

KEY

10 minutes

20 minutes

30 minutes

EXIT 109

119

Springfield

Rincon Hardeeville

Pooler

SAVANNAH

KATE’S COVE LOTS CLOSE-UP Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/5/2018 11:05 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

KATE’S COVE AERIAL & PLAT Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/7/2018 11:41 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

This exhibit was last updated on 6/7/2018 11:28 AM

KATE’S COVE ENHANCED PLAT (2 of 2) Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

KATE’S COVE ENHANCED PLAT (1 of 2) Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/7/2018 11:22 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

KATE’S COVE COMPLETE PLAT Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/5/2018 3:17 PM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

KATE’S COVE LOT TOPO Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/5/2018 11:09 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

KATE’S COVE SCHOOL SITES DRIVE TIMES Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/5/2018 11:48 AM Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

Effingham County High School Ebenezer Middle School

Ebenezer Elementary School

KEY

5 minutes

10 minutes

15 minutes

EXIT 109

119

119

Springfield

Rincon

KATE’S COVE – HOUSING DATA Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098

This exhibit was last updated on 6/7/2018 12:22 PM All data from Market Insight – 2018. Parker Scott Properties is the exclusive listing agent for this property. The data in this exhibit is believed to be accurate but not guaranteed as provided by third parties.

NEW VS. RESALE CLOSINGS INVENTORY SURPLUS/DEFICIT

NEW/RESALE MARKET SHARE

There is a great opportunity in the $300,000 to $350,000 price range in the Ebenezer Elementary and Middle School market area of Effingham County. New product dominates the segment and there is an inventory deficit of 6 homes now in that price range. In fact, new homes outsell resales almost 4:1 in that price bracket.

105 Cambridge Drive – Before Bridge

317 Polly Branch (near homesites for sale) 299 Ferncliff (near homesites for sale)

View from bridge down long lagoon with pool/clubhouse to right.

KATE’S COVE – EXISTING HOMES Chuck Mitchell – Parker Scott Commercial cmitchell@pscommercial.net / (912) 660-3098