3 acres with a single wide, 10538 Carriage listed for $299,000 and vacant land a few doors down, 10224 Carriage, listed for $115,000

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OK, so here is a true test of the value of the development. Here are two properties, identical in neighborhood and topography, but one has a single wide trailer, a well, power, septic, driveway, and PGE power. The difference between them is entirely in the primitive developments.

The land listing at 10224 Carriage has bene on the market for $115,000 for 150 days. That tells me that the property is worth under that asking price. I suspect the property with no development is worth something less than $100,000, but the market place will make that determination. What I am more interested in is asking a simple question: if the land is worth $100,000, then how much is the well, septic, singlewide, power drop, and driveway worth? My estimation is the all the development combined in worth under $100,000. My professional opinion is the property with the trailer is worth less than $200,000, no where near the $300,000 the seller is asking.

All that being said, I like this neighborhood. Homes are in the $300,000 to $600,000, and lots are all 3 to 5 acres, there is a stream that runs through one end of the neighborhood and you cross an old one car bridge to get to the property. The road is gravel, but since you can only exit and enter the neighborhood on one side, there is no through traffic. The property is close to the highway, but there is a small ridge between the neighborhood and the freeway, so there is no freeway noise.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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