Orleans Place Ocean Springs, MS Duplexes

Orleans place is a planned community of New Orleans style duplexes located in the Ocean Springs/St. Martin Mississippi area. The community will include an Olympic size swimming pool, on-site daycare facilities and walking trails. Duplexes are investment incentive rich and are Go-Zone and SRAP eligible. Go-Zone incentives allow 50% accelerated depreciation and SRAP incentives are provided by the Mississippi Development Authority as forgivable 5 year loans up to $73,000 per 3 bedroom duplex.

The combination of incentives available on new construction are unheard of in any area. These incentives are a direct result from the effect Hurricane Katrina had on the south Mississippi region. Many other great investments can be found all along the Mississippi Coast with some developers building duplexes that start in the high $180′000’s. These newly constructed duplexes are very investor friendly as they qualify for all the incentives and will cash-flow prior to receiving them. Investment products in this lower price point therefore have the potential to be generous cash flow producers.

There is also a wealth of existing construction that also qualifies for SRAP with price points beginning in the low $60,000’s for free-standing single family homes. Homes can also be found very easily around the $100,000 mark in very appreciable local markets. The single family home type of investments are also cash flow producing prior to receiving the SRAP forgivable loans, some with CAP rates as high as the 20% mark after SRAP.

Single family new construction is also an excellent opportunity to maximize your investment in the incentive rich coastal area. New all brick homes in a planned community with identical amenities to Orleans Place include granite, solid wood staggered cabinetry, high ceilings, bull-nose edges throughout, and two car garages. These outstanding products start at $129,900. These single family homes provide the investor with both investment incentives and a much better exit strategy.

For many investors their exit strategy is a fundamental and commonly forgotten portion of their real estate investing strategy. The duplex products of Orleans Place offer a much tougher exit strategy. This is due to their high initial price point and the multitude of investors buying the same property with most investors having the same plan to sell in 5 years – once their SRAP loans are forgiven. A basic form of math is to compare the $135,000 per unit of the duplexes to a single family all brick home with a two-car garage for $129,900. For investors who understand the 80% and 120% AMI rental rates I pose the question…Who is going to rent a duplex unit for more than they can rent a single family home? Especially when they sit within eyesight of each other! To further iterate, numerous duplexes purchased all with the same goal of selling in five years will create an abundance of supply which will ultimately drive the prices down and the market time up.

If you are an investor interested in cash-flow producing properties prior to receiving the available benefits from incentives you should contact agents that will act on your behalf as your buyer’s representative. We are ready and willing investment Realtors® working with and for the best interests of ready and willing investors.

Find out more information on available duplex and single family cash flow producing properties prior to utilizing incentives by calling us today. SRAP applications must be submitted by December 15, 2008 with proof of ownership within 90 days of that deadline.