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5.6 Acres of land; terrific location & good frontage on 2 roads. Very good potential possibilities! The elevation of the property appears to be good for the area & there is a stream that runs through more of the east side of the property & it flows along the front of the property. Most properties around the area have 1/4 acre lots. When development is done, about 1/3 of the land is used for common space & roads, etc. Therefore, the amount of space that could be subdivided is about 3.75 acres. Multiply that by 4 & that will give about 15 building lots. Average price of houses sold within 1/2 mile of this land is $360,000. If new construction, the price of homes would be averaging about $412,500. Multiply that by 15 & the total gross amount will be somewhere around $6,187,500. The cost affiliated with the development of each lot will probably be somewhere around $60,000 per lot. That will cost around $900,000. There will also be a large amount of money that will be required to do a "Major Sub-Division". That cost will probably be somewhere around the price of $250,000 but the price is now way lowered to $199,900. Subtract that from $6,187,500 and the gross income (not including cost of land) will be about $5,037,500. Typically, builders don't want to pay anymore than 15% to 20% of the total price for land. Therefore, according to this structure, the land value may be somewhere between $756,000 - $1,008,000. There are other options as well: This property is Zoned "S" Suburban: Here is what the New Castle County website indicates can happen with this property: Suburban (S). This district permits a wide range of residential uses, including all the newly developing areas designed as growth areas in the Comprehensive Development Plan. Moderate to high density residential development is permitted in a manner consistent with providing a high quality suburban character. Significant areas of open space and/or landscaping are required to maintain the balan
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La Quinta, CA
Posted on: February 14
There is truly something special at Tradition Golf Club in La Quinta. Located 20 min from Palm Springs International Airport, luxury shopping, & world-class healthcare, Tradition Golf Club defines sophisticated desert living. As you enter the unmarked front gates, you're greeted by the massive Santa Rosa Mountains, mature palms, thousands of wildflowers, perfect greens, Augusta white sand, & the i...
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Cape Coral, FL
Posted on: February 14
Come to the calmer side of Florida and grab your own piece of paradise. This is a great lot ready for your dream home. Cape Coral was just ranked as the number one area for the best climate in the US. Come see the Boston Redsoxs or the Minnesota Twins during Spring Training. Once you are built, sit on your lanai and listen to the peace and quiet, or take a short trip to the Cultural Center to see ...
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San Antonio, TX
Posted on: February 14
vacant lot read for new property to be built on. minutes from downtown, blue star and the pearl. property next door is available to sell...
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San Antonio, TX
Posted on: February 14
Great location! .16 residential lot zoned MF-33. Short bike ride to the San Antonio River, Mission County Park and Hot Wells CountyPark...
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San Antonio, TX
Posted on: February 14
This property is two lots ready for you to build your home on! 12 minutes from downtown, 8 minutes from Wood lawn park...
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- Electronic Scams
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Fraudsters advertise a real estate property usually at a considerable discount. This allows the fraudster to
receive as many replies or inquiries as possible. The fraudster goest to great lengths to make this property
look as legitimate as possible and might include pictures, floor plans, etc. To make sure you express an
interest in the property the fraudster will ask you to wire money for a deposit, verify funds, or other
legitimate sounding reasons.
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Lot In Millsboro
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| Millsboro, DE |
$459,000 |
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Lot In Oak Forest Estates
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| Hartly, DE |
$46,800 |
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Lot In Established Community
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| Lewes, DE |
$129,500 |
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Lot In Established Community
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| Lewes, DE |
$135,250 |
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Lot In North Bethany
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| Bethany Beach, DE |
$775,000 |
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