You are buying a subdivision with this home! You get a cute remodeled home and 2 preapproved lots along with it. This listing is for a historic home in Smithfield that has recently been remodeled and comes with two preapproved lots behind the house. It has a master bedroom and a 3/4 master bath. Another bedroom could easily be made from the west front room to make 4 bedrooms. Attached is the proposed plat that is getting signatures prior to being ready to be recorded. The seller could do the subdivision themselves and have additional profit with the lots but he would rather sell it as is and move on. For the subdivision to be recorded, the buyer will need all signatures on the Mylar plat, need to have a letter of credit or put up a refundable escrow for the improvements, put up $1500 ($750 refundable) for the encroachment to hook up utilities for the 2 back lots and form the HOA (anticipated that 4 households will participate in road maintenance and snow removal). Additional water is not currently available so the back lots will require approximately $2000 each for the water or $500 each for the water if pressurized irrigation is plumbed. The surveys are complete with engineering, utility plans, demo plans, and the plat drawings (attached).
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
