I am looking at this land deal in Connecticut which has a possibility of building 40+ units with a third deemed affordable. Wondering what kind of land price I should pay per unit? Owner is asking around 20k. What are the pros and cons..
Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
10y
Central CT varies greatly in terms of value in terms of land. The only way to even start to answer your question is to know the town the land is in and what area of town it is in.
It's along the Boston post rd in Meriden area. I am pretty sure the schools and area is very good. But, the problem is with the affordable housing construction? Will the economics work with affordable?? 1 out of 3 units should be affordable
Investor · Rocky Hill, CT · Member since 2013 · 373 posts · 299 votes
10y
Meriden is a very interesting town, with lots of rentor's. Have you driven the town and looked into it? My family has a business in town, so there are good people there- but some neighborhoods are not worth investing in.