Investment Listings

highlands development graphic

All of these properties are located in the city of Norwich with city water & sewer available on site. When Proctor & Gamble announced in 1993 that they were going to relocate part of their operations in Norwich to Cincinnatti, they had purchased homes from the transfering employees. Mody Real Estate handled the majority of those homes. Most of those homes have since been sold. Since our inventory is down considerably, the development of "Phase 1" with either stick built or nice modular homes in the price range of $125,000 would have a good market for this type of real estate, considering that is the price range for entry level housing in Norwich. The large "Executive" lots in "Phase 3" could sell in the range of $225,000 - $250,000.

Phase 1

  • 26 lots
  • city water & sewer
  • catch basins
  • roads constructed, no blacktop
  • electricity has to be brought in to each site
  • estimated cost of improvements - $130,000 ($5,000 per lot)
  • Total cost per lot in present condition - $10,000

Phase 2

  • 19 view lots
  • no improvement to site
  • estimated cost of improvements - $209,000 ($11,000 each)
  • Total cost per lot in present condition - $4,000

Phase 3

  • 17 executive lots
  • 45 acres +/-
  • no improvements to site
  • estimated cost of improvements - $153,000 ($9,000 each)
  • Total cost per lot in present condition - $6,000

 

For more information on any of these properties email - modyrealestate@yahoo.com
 
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