5500 Novaglen Road
Durham, NC 27712Excellent investment opportunity in Durham, NC! This +/-10 lot subdivision proivdes by-right development for single-family well and septic lots in Durham County, NC on approximately 20 acres. Novaglen Road will need to be extended with an estimated cost of $425,000. This offers residential developers a unique opportunity in a rapidly growing North Durham submarket with a strong demand for large-lot residential homes. This property allows for devleopers and homebuilders to capitalize on an incredibly strong residential sales market fueled by a lack of re-sale supply and a general lack of large lot single-family homes. Resale volume for existing product within nearby Treybutn has been strong with 34 sales in the last 12 months at prices up to $1,025,000. Overall new constructionhas been limited due to lack of supply, however, The View which recently delivered, has over a dozen sales in the last 12 months with prices averaging over $700,000.
$945,000
bedrooms
full bathrooms
19.74 acres
- Exterior Features
- Interior Features
- Property Features
- Lot Size Acres 19.74
- Tax Annual Amount 27.53
- Water Source Need Well
Additional Property Information
- TypeUnimproved Land
- Built
- NeighborhoodNorthwood Forest
- CountyDurham
- AreaDurham
- Elementary SchoolDurham - Little River
- Middle SchoolDurham - Lucas
- High SchoolDurham - Northern
Listing courtesy of MCV Realty, LLC. © 2024 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
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