Durham, NC 27712,5500 Novaglen Road
Durham, NC 27712,5500 Novaglen Road
Durham, NC 27712,5500 Novaglen Road
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Listed by MCV Realty, LLC
$ 945,000
Est. payment | /mo

19.74 Acres Lot


Save
$ 945,000
Est. payment | /mo
Save

19.74 Acres Lot

Key Details

Property Type Vacant Land

Sub Type Unimproved Land

Listing Status Active

Purchase Type For Sale

Subdivision Northwood Forest

MLS Listing ID 10119287

HOA Y/N No

Annual Tax Amount $27

Lot Size 19.740 Acres

Acres 19.74

Property Sub-Type Unimproved Land

Source Triangle MLS

Property Description

Excellent 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.

Location

State NC

County Durham

Zoning RS20

Direction Head west on Torredge Road from Snow Hill Road. Take Torredge Road about 1.5 miles until it dead ends into Novaglen Road. Lake a left and the property is at the end of the street.

Exterior

Utilities Available Septic Available

View Y/N Yes

Street Surface Unimproved

Private Pool No

Building

Faces Head west on Torredge Road from Snow Hill Road. Take Torredge Road about 1.5 miles until it dead ends into Novaglen Road. Lake a left and the property is at the end of the street.

Sewer Septic Needed

Water Need Well

Schools

Elementary Schools Durham - Little River

Middle Schools Durham - Lucas

High Schools Durham - Northern

Others

Senior Community No

Tax ID 0835256732

Special Listing Condition Standard

Doorify MLS / Triangle MLS
agent-avatar

+1(252) 904-0357

jason@waltersteam.com

526 E Nash Street, Hope, NC, 27882, United States

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5500 Novaglen Road