Park Street Homes

Park Street Homes

Closed: Apr. 2024

About this raise

Park Street Homes, with a valuation of $20 million, is raising funds on StartEngine. It is a home-building company in Houston, Texas, that transforms spaces into affordable entry-level homes. Park Street Homes is expanding its reach through scaled production and development of affordable communities and aims to make affordable housing accessible to those who struggle with finding homes in America’s urban centers. The company generated $4 million in revenue in 2022 with its 20 custom-designed home plans and has eight development projects underway. Kevan Shelton and Ayesha Shelton founded Park Street Homes in October 2017. The current crowdfunding campaign has a minimum target of $15,000 and a maximum target of $1.24 million. The campaign proceeds will be used for land acquisition and development, company employment, and working capital.

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Investment Overview

Invested this round: $241,997

Deal Terms

Total Commitments

Platform
StartEngine
Start Date
09/18/2023
Close Date
04/29/2024
Min. Goal
$15,000
Max Goal
$1,235,000
Min. Investment

$500

Security Type

Equity - Common

Company Stage

Growth Stage

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$2.00

Pre-Money Valuation

$20,000,000

Company & Team

Company

Year Founded
2017
Industry
Real Estate & Construction
Tech Sector
Proptech
Distribution Model
B2C
Margin
Low
Capital Intensity
High
Location
Houston, Texas
Business Type
Growth
Company Website
Visit Website

Team

Employees
9
Prior Founder Exits?
No
Founder Name
Kevan Shelton
Title
CEO
Founder Name
Ayesha Shelton
Title
Head of Sales

Financials

 Revenue +10% YoY
$3,831,744
as of FY2022
 Monthly Burn
Profitable
as of FY2022
 Cash on Hand
$120,000
as of FY2022
 Gross Margin
21%
as of FY2022

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$3,831,744

$3,477,510

COGS

$3,033,627

$2,976,469

Tax

$0

$0

 

 

Net Income

$144,375

$120,369

Summary Balance Sheet

FY 2022 FY 2021

Cash

$9,419

$4,406

Accounts Receivable

$0

$0

Total Assets

$1,273,153

$218,652

Short-Term Debt

$494,593

$164,166

Long-Term Debt

$467,131

$135,523

Total Liabilities

$961,724

$299,689

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Company Funding & Growth

Funding history

Total Prior Capital Raised
$0
VC Backed?
No
Close Date Platform Valuation Total Raised Security Type Status Reg Type
04/29/2024 StartEngine $20,000,000 $241,997 Equity - Common Funded RegCF
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Add to portfolio
Park Street Homes on StartEngine 2023
Platform: StartEngine
Security Type: Equity - Common
Valuation: $20,000,000
Price per Share: $2.00

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Follow Park Street Homes on StartEngine 2023

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Warning: according to the close date for this deal, Park Street Homes may no longer be accepting investments.

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