Future Valuation of my Property

[Alecia Loveless]

3 years ago I bought a 3 unit property that has two buildings, a duplex and a smaller SFH. It is set back in a small neighborhood with two dead end streets, or so I thought. I knew there were some homes up in back but never really drove up in to look beyond driving around my property which is the corner entrance property and has road frontage on the Main Street as well as the two roads into the neighborhood.

Three weeks ago I got notified by the Town that there was a lot line adjustment next to my lot and it turns out the owner of the area’s largest real estate company has advised an out of state investor to buy a 40 acre parcel adjacent to this neighborhood and they tied it up for 8 months while they contacted 18 landowners who owned land throughout my neighborhood on these roads which apparently are a never built cul de sac and offered outrageous prices for all there lots and bought up the whole neighborhood.

They were in the process of adjusting the lot lines to make uniform sized lots to create a million dollar neighborhood behind me with a HOA and a road association.

So I drove up back immediately and they’ve already started roughing in the road and it’s going to be a big deal and there’s already some nice expensive houses up there as well as some crappy local hovels.

I’m wondering what everyone thinks this will do to the value of my property ultimately which is currently only about $350,000. I’m thinking it should go up with the roads being maintained better and a desirable upscale neighborhood behind me. I’ve got a second lot of about an acre right at the entrance of the neighborhood I can build on additionally in the future either another rental unit or a house if there is a desire for it. Or I could try to sell it.

Thanks for the feedback.