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you have to start with the end number of your total budget and then create cash flow projections for the new bay with your new pricing and see how it pencils out. I insulated myself from the big monthly payment by refinancing at a time when interest rates were low so that my monthly payment is very affordable. I also raised my prices 46% which seems like a lot To me. But it's not about what I think it's about what the customer will pay.
I'm sure there are others on here more equipped to answer this question with a hard formula than I. There are so many variables that go into calculating whether a site is worth investing that kind of money. Site operations cost, water/sewer, cpd at the street and local wash pricing to name a few. Without that information it's impossible to know if the spend is warranted. Me personally in my area would need to see roughly about 40 cdp at $14 average to make it worth it.
