$250,000
5.61 acres
39.6399 -75.7365
FOR SALE

Lot 3 OLD BALTIMORE PIKE Newark, DE 19702

$250,000
Est. Monthly $1,154 with $731 in taxes recalculate
5.61 acres
 

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CENTURY 21 Gold Key Realty
260 E. Main Street
Newark, DE 19711
302.­369.5397
302.­369.5397
CENTURY 21 Gold Key Realty
260 E. Main Street Newark, DE 19711
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Lot 3 OLD BALTIMORE PIKE
Newark, DE 19702

Explore This Property

Other Residential - 5.6 Acres of land; terrific location & good frontage on 2 roads. Very good potential possibilities! The elevation of the property appears to be good for the area & there is a stream that runs through more of the east side of the property & it flows along the front of the property. Most properties around the area have 1/4 acre lots. When development is done, about 1/3 of the land is used for common space & roads, etc. Therefore, the amount of space that could be subdivided is about 3.75 acres. Multiply that by 4 & that will give about 15 building lots. Average price of houses sold within 1/2 mile of this land is $360,000. If new construction, the price of homes would be averaging about $412,500. Multiply that by 15 & the total gross amount will be somewhere around $6,187,500. The cost affiliated with the development of each lot will probably be somewhere around $60,000 per lot. That will cost around $900,000. There will also be a large amount of money that will be required to do a "Major Sub-Division". That cost will probably be somewhere around the price of $250,000. Subtract that from $6,187,500 and the gross income (not including cost of land) will be about $5,037,500. Typically, builders don't want to pay anymore than 15% to 20% of the total price for land. Therefore, according to this structure, the land value may be somewhere between $756,000 - $1,008,000. There are other options as well: This property is Zoned "S" Suburban: Here is what the New Castle County website indicates can happen with this property: Suburban (S). This district permits a wide range of residential uses, including all the newly developing areas designed as growth areas in the Comprehensive Development Plan. Moderate to high density residential development is permitted in a manner consistent with providing a high quality suburban character. Significant areas of open space and/or landscaping are required to maintain the balance between green space and buildings that characterize suburban character. The highest densities are permitted in designed communities, hamlets and villages. This district is not intended to be used for fully developed areas. Fully developed areas are zoned Neighborhood Conservation (NC), which is discussed on Page 4. The Suburban District is used to in-fill tracts containing at least 5 acres or where New Castle County seeks to redevelop an area
MLS # 6946145
Courtesy Of Re/Max of Wilmington

Property Features

  • Architecture Style: Other
  • Lot Size: 5.61 Acres
  • Roof Type: Unknown

  • Purchase or Lease Opportunities

    Traditional Mortgage
    30 year mortgage at 3.38% APR
    $1,154Your estimated monthly payment
    $50,00020% Down Payment
    $250,000 $225,000 $731
    purchase price loan amount property tax (est)
    Explore Mortgage Options
    Program Details
    *Neither Century 21 Real Estate LLC nor any of its franchisees or other affiliated companies provides, or is in any way responsible, for any product or service offered by Home Partners of America.

  • Elementary School
    BRADER (HENRY M.) ELEMENTARY SCHOOL
    Grades K-5 | Public School

    NEWARK, DE 19702
    350 FOUR SEASONS PKWY
    302-454-5959
    1.4
    miles

    Total Students 560
    Student Teacher Ratio 16:1

    School Rating

    2 stars View School Details
    Middle School
    GAUGER-COBBS MIDDLE SCHOOL
    Grades 6-8 | Public School

    NEWARK, DE 19713
    50 GENDER RD
    302-454-2358
    1.7
    miles

    Total Students 1200
    Student Teacher Ratio 16:1

    School Rating

    1 star View School Details
    High School
    GLASGOW HIGH SCHOOL
    Grades 9-12 | Public School

    NEWARK, DE 19702
    1901 S COLLEGE AVE
    302-631-5600
    1.2
    miles

    Total Students 857
    Student Teacher Ratio 17:1

    School Rating

    1 star View School Details
    Other Nearby Schools Distance Type Grades School Rating Parent Rating
    Mcvey (joseph M.) Elementary School 1.2 mi Public K-5
    St Paul's Lutheran School 1.5 mi Private PRESCHOOL-K
    Super Kids Pre School & Kindergarten 1.5 mi Private PRESCHOOL-K
    Brookside Elementary School 1.9 mi Public K-5
    Newark Center For Creative Learning 2.3 mi Private K-8
    Tlk Academy 2.6 mi Private PRESCHOOL-2
    Keene (william B.) Elementary School 2.6 mi Public K-5
    Newark Charter School 2.6 mi Public K-11
    The College School 2.6 mi Private 1-8
    University Of Delaware Lab Preschool 2.6 mi Private PRESCHOOL-K
    Kirk (george V.) Middle School 2.7 mi Public 6-8
    Smith (jennie E.) Elementary School 2.7 mi Public K-5
    Brennen School (the) 2.7 mi Public UNGRADE-UNGRADE
    Christiana High School 2.7 mi Public 9-12
    Christina Early Education Center 2.7 mi Public PRESCHOOL-PRESCHOOL
    Lela Day School 2.7 mi Private PRESCHOOL-PRESCHOOL
    West Park Place Elementary School 2.7 mi Public K-5

    Local Area Information for Newark, DE 19702

    Median Age: 35.8
    Married: 37.4%
    Number of Households: 20,250
    Households with Children: 6,879
    • Occupancy Types
      • 0 Vacant
      • 0 Owned
      • 0 Rented
    • Transportation to Work
      • 0 Drive
      • 0 Public Transportation
      • 0 Walk / Bike / Other
      • 0 Work at Home
    (in Degrees Fahrenheit)
      Visit Area Info Page

      Copyright © 2017 TREND. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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      Sources: Maponics, LLC and Onboard Informatics ©2016. School Performance data by SchoolDigger.com. School Review data by Niche.com. This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.
      † Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
      The Other Residential located at Lot 3 OLD BALTIMORE PIKE, Newark, DE 19702 is currently for sale. Lot 3 OLD BALTIMORE PIKE, Newark is listed for $250,000. If the property located at Lot 3 OLD BALTIMORE PIKE, Newark, DE isn't what you're looking for, search Delaware real estate to see other houses for sale in Newark.