Investment Opportunity: 33 Approved Single-Family Lots – St. Cloud, FL

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DEVELOPER / BUILDER PRO FORMA Rambling Reserve - St. Cloud, FL (34771) 5285 Rambling Rd | 33 SFR Lots | PSP Approved A. Key Assumptions Land & Entitlements Purchase Price: $1,430,000 Total Lots: 33 Land Cost per Lot: ~$48,485 Zoning: Low Density Residential (Approved) Status: PSP Approved | SDP Pending Vertical Product Assumptions (Builder-Standard) Average Home Size: 1,850 SF Product Type: 3-4 BR | 2-3 BA | 2-Car Garage Blended Average Sales Price: $1,430,000 Market Assumption: Conservative for St. Cloud submarket Sales Pace: ~2.5 homes per month Construction Type: Rolling Spec Builds B. Revenue ItemAmountHomes Sold 33Avg Sales Price$1,430,000 Gross Revenue$13,695,000 C. Costs Land & Soft Costs ItemAmountLand Acquisition$1,800,000 Engineering (SDP & revisions)$175,000Impact Fees (Est. $20k/home)$660,000 Subtotal - Land & Soft$2,510,000 Horizontal Development ItemAmountRoads, Utilities, Stormwater$1,650,000 Landscaping, Signage, Misc.$150,000 Horizontal Total$1,800,000 Horizontal Cost / Lot~$54,500 Vertical Construction ItemAmountBuild Cost ($155/SF × 1,850 SF)$286,750 per home Total Vertical (33 Homes)$9,463,000 Carry, Sales & Financing ItemAmountInterest / Carry$425,000Sales Commissions (4%)$547,800Marketing & Model Costs$125,000 Subtotal$1,097,800 D. Total Project Cost CategoryAmountLand + Soft Costs$2,510,000 Horizontal Development$1,800,000 Vertical Construction$9,463,000 Carry & Sales$1,097,800 TOTAL PROJECT COST$14,870,800 E. Profitability Snapshot MetricAmountGross Revenue$13,695,000 Total Project Cost$14,870,800 Net Profit (Vertical Build Scenario)($1,175,800) Note: This structure supports a lot sale, JV, or price re-trade rather than a straight vertical build at current assumptions. INVESTMENT HIGHLIGHTS 33 PSP-approved single-family lots Low Density Residential zoning Density locked at ~6.0 DU/AC Public water & sewer available Approved road access & layout On-site stormwater design No rezoning required Builder-friendly lot dimensions Strong absorption in St. Cloud submarket ENTITLEMENT STATUS Preliminary Subdivision Plan approved March 20, 2028 Approved by Osceola County Board of County Commissioners Site Development Plan (SDP) is next step PSP remains valid if SDP submitted within statutory timeframe Major entitlement risk has been mitigated SITE & DEVELOPMENT OVERVIEW Total Acres: ~5.5 Total Lots: 33 Typical Lot Width: ~50' Internal public roadway system Dedicated stormwater retention pond Parks and open space incorporated Please see Link for more info

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