Hello, I am interested in buying a small single family house in a decent neighborhood (average median house price around 450k), but the seller would want to sell the land (50x100) next to it together for an extra 100k to make a deal. hypothetically I can negotiate it a lower price for the land (any suggestion on how to determine the value for the land), what kind of investment can I make to turn the land into something profitable rather than just being wasted? given this is in the state of NY and the property tax ($1649 yearly for the land) is high...any suggestions/comments?
I would imagine what you can/can't do with the land is dependent on what the land is zoned in.
is it possible to make it a parking spot?
Parking in NYC is limited.
This is in the suburb, not the city. Thanks, will check the zone and building code.
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