Private working draft · Not approved for public distribution
Annapolis · Maryland
Waterfront estate.
$387/sq ft modeled exit.
38.4% projected margin.
Here's the address: 1254 Washington Drive.
Concept rendering · Not architectural drawings
10projects completed
$5.10Mgross realized sales
$998Krealized profit
100%vertically integrated execution
Our operating thesis
Promise like a bank. Share like a partner. Prove like an auditor.
Eadora Capital is a boutique real estate investment firm serving the Washington–Annapolis corridor.
We pair local acquisition judgment with vertically integrated design and construction. Core trades are self-performed; specialty scopes are secured at locked subcontractor bids. The objective is simple: fewer layers between the investment thesis and the work itself.
The Annapolis project
A rare waterfront basis. An execution-heavy opportunity.
A 9,960-square-foot brick residence on a double lot with 100 feet of waterfront, a deep-water pier, and the only grandfathered boathouse on the cove.
Acquired as a distressed shell at approximately $95 per square foot, the property is already stripped to studs and joists—making both the scope and the risks visible before reconstruction begins.
9,960 SFBrick waterfront residence
100 FTWater frontage on Oyster Creek
5 / 4.5Beds / baths in third-party profile
$387/SFModeled after-repair value
Concept rendering · Not architectural drawingsExisting condition · Before construction
The starting point is fully visible.
The residence has been opened to its structure, making the physical scope, waterfront setting, and execution risks visible before reconstruction begins. This record establishes the baseline against which progress will be measured.
Waterfront vision
Full frontage, restored as an intentional landscape.
Concept rendering · Not architectural drawings
Planned transformation
From dormant shell to private wellness amenity.
Concept rendering · Not architectural drawings
Underwriting discipline
A complete model—not a headline number.
The current preliminary case includes acquisition, construction buffer, financing, holding, and exit costs. Every figure remains subject to final scope, lender terms, diligence, and market conditions.
Estimated profitPreliminary model · nine-month hold
$1,479,298Projected ROI / cash236.8%
Projected margin38.4%
Projected annualized return315.7%
Loan-to-cost90.0%
Loan-to-value / ARV45.4%
Total cash needed$624,703Modeled out-of-pocket capital
Modeled hold9 monthsCurrent preliminary schedule
Total project cost$2,370,703All-in, including financing
Projected ARV$3,850,000Approximately $387 per square foot
Project cost → projected ARV$2,370,703 / $3,850,000
+$1,479,298 projected profitPurchase price24.7%$950,000
Rehabilitation + 10% buffer25.7%$990,000
Purchase closing costs0.9%$35,035
Financing4.5%$173,917
Holding0.1%$5,400
Sale closing costs0.6%$23,850
Agent commission5.0%$192,500
Total project cost$2,370,703Projected after-repair value$3,850,000
Site intelligence
Known signals. Explicit verification.
These third-party screening results are directional and may be incomplete or stale. They belong in the diligence workflow—not in place of county confirmation, title review, survey, or engineering.
Realized work
A local record measured in completed exits.
Nine projects sold and one refinanced, representing $5.10 million in gross realized sales and $998,000 in realized profit.
Carroll Avenue$850K sale$217K profit
Old Crain Highway$760K sale$178K profit
McBride Lane$399K sale$125K profit
Sam Owings Place$610K sale$113.5K profit
Capitol Heights$385K sale$94K profit
Pasadena$485K sale$85K profit
1523 Eton Way is held and was refinanced after a $900K appraisal; created equity is not represented as a realized sale.
The Live Deck
Visibility is an operating system, not a quarterly update.
The reporting program is designed to make the project inspectable throughout the hold—not merely explainable after the fact.
Weekly
Field report + site video
A concise progress record published in active and quiet weeks alike—because reporting discipline matters most when progress is less visible.
Monthly
Live walkthrough + Q&A
A recurring third-Thursday session, supplemented by milestone briefings at permit approval, framing completion, and listing.
Every draw
Independent verification
Third-party inspection confirms work in place before construction funds move.
Always on
Jobsite visibility
Live camera access, a standing site-visit invitation, and a document-level data room create an inspectable record.
The vision
Institutional process. Residential-scale precision.
One address, one documented plan, and a reporting cadence built to surface both progress and problems early.
Concept rendering · Not architectural drawings
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