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Fairfield: Preston's Picks # 1:

Ash Creek / Beach marketing area.  

Property abuts marshlands with southerly exposure towards Long Island Sound.

Residence A Zone.  Non-conforming, 50' frontage, .29 acre, rectangular in shape, and level.  Site is located within a 100 year flood plain.  Available topo maps show street grade at approx. 8.5' - 9' above sea level. Min. base elevation = 11' 

Existing improvements: 1938 built, frame, colonial style dwelling having approx. 1,450sf of living area on two levels.  3BR / 1.5Bth.  Full Bsmt.  HW / Oil heat - above ground oil tank.  Detached, frame, 2 bay garage.

Highest & Best Use difficult to determine given likely variance & FEMA compliance requirements.  Projected pricing for an approx. 2750sf new home is $1,050,000 - $1,150,000.  A rehab project could go lean & mean and produce an ARV of approx. $550,000 or max. out and be in the $625,000 to $650,000 range.  

Likely acquisition pricing will range from the mid 3's to low 4's.  

Broker Disclosure:

The opportunity / subject property described is presently noted to be OFF MARKET – THE PROPERTY DEPICTED IS NOT LISTED FOR SALE OR RENT BY RNEI.

Information provided is to be used for the sole purpose of evaluating the potential acquisition of the subject property.