Subdivide or not?
I own a 3 Family property. On 1.4acres, there is one Duplex ( 2 1BR, 1BA) and a single family ( 3BR, 1BA) I bought the property for 315K. I have 305K left. I have seriously been considering subdividing the two houses. They currently share a well and septic. Both well and septic are on the duplex side, so I will have to put the new ones on the single family. The single family and one of the duplex units also share a driveway.
I was thinking, Put a new septic (15-20K), new well ( 5-10K) and redo driveway (10k???)
Unsure how much the subdividing process costs, but curious if it is worth it.
A Duplex can go anywhere from 270-300K, and a single family can go for 230-270.
Any opinions??