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In-PersonVirtual Tour
$ 24,999
Est. payment | /mo
0.38 Acres Lot
$ 24,999
Est. payment | /mo
0.38 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Residential Land
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 202530117
Annual Tax Amount $390
Tax Year 2025
Lot Size 0.380 Acres
Property Sub-Type Residential Land
Property Description
This 0.38-acre build-ready parcel on 2316 Vann Avenue presents a strategic development opportunity. Market data sourced from the Southwest Indiana Regional MLS establishes a solid value baseline with a median re-sale price of approximately $153,000 for existing homes. The value of this property is demonstrated by the premium a new construction commands. A 2,000 sq ft home sold for $215,000, while an updated 1,400 sq ft home listed at $240,000. This data confirms a strong increase in market demand with supported price points well into the $200k+ range for modern finishes and up-to-date design. The property's primary advantage is its readiness for construction; the crucial and costly groundwork for city water, sewer, and electrical infrastructure is already complete. This significantly reduces the initial outlay and construction timeline for a new build. We present an opportunity to capitalize on the gap between existing resale values and the high demand for new homes. The financial upside is clear. With a low acquisition cost and minimized site prep expenses, a developer is well positioned here to build a desirable new home and capture a substantial profit margin in an area that is prime with demand.
Location
State IN
County Vanderburgh County
Area Vanderburgh County
Direction South from intersetion of Lloyd & 41, SE on Riverside Dr, E on Pollack Ave, S on Vann Ave, Property on the Left
Exterior
Fence None
Building
New Construction No
Schools
Elementary Schools Caze
Middle Schools Mcgary
High Schools William Henry Harrison
School District Evansville-Vanderburgh School Corp.
Others
Financing Cash
Virtual Tour https://www.propertypanorama.com/instaview/irmls/202530117
IDX information provided by the Indiana Regional MLS
Listed by Andros L'Grand • KELLER WILLIAMS CAPITAL REALTY • Cell: 812-270-8747
Nearby Locations
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