SAve Money on Development Cost On this Subdivision!!!

Lockwood Way E, Defuniak Springs, FL 32435

$964,000 After Repair Value -
$475,000 Asking Price -
$0 Cost of Repairs =
$489,000 Potential Profit

Property Details

Asking Price $475,000

After Repair Value $964,000

Costs of Repairs $0

Potential Profit $489,000

Living Area N/A

Property Type Land

Bedrooms 0

Bathrooms 0

Half Bathrooms 0

Parking 0

Listed with Agent No

Property Description

Saw Mill Court Subdivision
Defuniak Springs, FL 32435
84 Lots + 19 Acres w/ Underground Utilities
Asking $475,000

In addition, there are 5 ancillary parcels that are available for development or utilized for retention ponds and/or green space(Total of 104 Lots).

The discounted Market Value according to the appraisal report was $650,000 at the same time. These numbers are according to a reputable and state certified appraiser at the date mentioned above.
The land is cleared and root raked and well maintained. The soil is a quality that allows for very good drainage. No part of the property is in a flood zone.
We have had an independent developer give us a cost estimate of over $1M in roads, ribbon curbing and underground utilities (water and electric) not to mention the lot clearing and preparation.
Housing in the range of $100,000- 120,000 is well within the economic profile of the area and Defuniak Springs FL in general.
If you did not want to build but just sell lots at $10,000 a lot it would be $1M
40 minutes to the Beaches of South Walton (30-A)

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