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Residential Land - Evansville, IN
This 0.38-acre build-ready parcel on 2316 Vann Avenue presents a strategic development opportunity. Market data sourced from the Southwest Indiana Regional MLS establishes a solid value baseline with a median re-sale price of approximately $153,000 for existing homes. The value of this property is demonstrated by the premium a new construction commands. A 2,000 sq ft home sold for $215,000, while an updated 1,400 sq ft home listed at $240,000. This data confirms a strong increase in market demand with supported price points well into the $200k+ range for modern finishes and up-to-date design. The property’s primary advantage is its readiness for construction; the crucial and costly groundwork for city water, sewer, and electrical infrastructure is already complete. This significantly reduces the initial outlay and construction timeline for a new build. We present an opportunity to capi...
This 0.38-acre build-ready parcel on 2316 Vann Avenue presents a strategic development opportunity. Market data sourced from the Southwest Indiana Regional MLS establishes a solid value baseline with a median re-sale price of approximately $153,000 for existing homes. The value of this property is demonstrated by the premium a new construction commands. A 2,000 sq ft home sold for $215,000, while an updated 1,400 sq ft home listed at $240,000. This data confirms a strong increase in market demand with supported price points well into the $200k+ range for modern finishes and up-to-date design. The property’s primary advantage is its readiness for construction; the crucial and costly groundwork for city water, sewer, and electrical infrastructure is already complete. This significantly reduces the initial outlay and construction timeline for a new build. We present an opportunity to capitalize on the gap between existing resale values and the high demand for new homes. The financial upside is clear. With a low acquisition cost and minimized site prep expenses, a developer is well positioned here to build a desirable new home and capture a substantial profit margin in an area that is prime with demand.
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