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Westport: Preston's Picks # 1

Prime Turkey Hill Road South vicinity.

Res AAA Zone.  Non-conforming, gently rolling site.  Flag lot, irregular in shape.  Approx. 81,000sf.  Site is heavily impacted by wetlands, no apparent ledge.  Not in a flood zone or CAM.

Existing well & septic.  No public utility connections available.  Existing oil tank located in the basement.  Some history related to a leaking oil tank and new oil tank installation dating back to approx. 2001 – 2004, information is not conclusive and this require additional research / resolve.  Soil survey recently completed indicating site will accommodate a new five bedroom septic system.

Existing improvements include an approx. 1500sf frame dwelling & attached 2 bay frame garage. Full unfinished basement – foundation would appear to support second story living area.

Highest & Best Use considerations lend support to both a rehab/expansion project or a tear down/new build.  Given recent soil survey results (5 BR Septic) I’m leaning towards a new spec. build.  Target acquisition pricing estimated to be in the low to mid 7’s.  Projected resale of a new dwelling commensurate in size, quality, & design/appeal for location/market expectation is estimated to be in the 2.1M – 2.3M range.

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.