Off of our DM campaign we had a lady call us on a 3/1.5 that is 1400 sqft. It is in a nice area and ARV is around 110-120 on .9 of an acre. It is close to town just happens to be off of a gravel road. We will either be wholesaling the property or flipping it. Will gravel street and drive be a huge turnoff/ make it harder to sell?
The gravel street is one car wide and you're only on it for about 3 house lengths before you're on pavement.
I grew up in central MO and gravel roads were common. Driveways were almost all gravel except right in front of the house. Is that common in that area? If so I don't think it will be much of an issue.
This particular area used to be "country" it is no literally 1 mile off of highway 364. Most homes in the are don't have gravel as they have been all redone. Most of the farmland was sold to developers who built $2-400,000.00 homes around the property. This particular street has about 7-8 houses on it. I just don't know if this will be a hindrance. A plus is that the area is super quiet and has tons of activity.
I have lived on them most of my life (just moved off of one). They are a negative (dirty car etc.) so you should take that into consideration on your ARV. How much is probably as individual as the buyers themselves and their personal experiences. That could be balanced out by the peace of living there. I would play that angle up. I would say that it is not a huge deal as someone who is buying this type of property is probably more concerned about a quieter area.
One last thing, make sure you know who is required to maintain it. Hopefully, It is the county. Sometimes it is the landowners and that can be a problem as there are rarely good associations in rural areas in my experience.
How much would you guys suggest I "ding" the arv for the gravel? Good point @Paul Choate I need to find out who maintains it. The "trick" with this property is that it's not in a rural area most homes around it have paved drives.