we have just received information on a unique subdivision that is about to become available for sale. Its not a short sale or distressed sale, but the developer is motivated to sell and is willing to let it go to focus on his developments elsewhere. The subdivision has some great equity and the bank is willing to finance it. So its ideal for an investor or builder that wants to take advantage of this. Will consider selling sections or parts of it. Since you are an agent in Pitt County, it may be of interest to some of your investors. Offered at 1.25M;
Market Value of lots is $2.85M That is less than 50 cents on the Dollar! Its located right on HWY 17 exactly mid-way between New Bern and Washington NC. There will be a 6% RE commision Split. (3% each side)
- Waterfront Community on the Swift Creek with Access to Neuse River.
- Permit for Boat Ramp Approved
- Phase I is recorded and ready to Build Homes
- Sitework remaining on rest of Site is $75k-$100k
- Fresh Water Lakes in place with Fish
- Municipal Waterlines Installed!
Offered At $1.25M Approvals & Sitework: Sitework has been done by GHC contracting and has passed all needed tests by DOT & town. Approvals and details of this are available for review as needed. All of the required public water main has also been installed in both Phase I and Phase II, except for a small portion if the Swan Drive cul-de-sac is extended. DOT turn lane was installed and approved. This waterline has passed all Craven County testing, and is approved. Septic permits for 37 lots have already been issued for the subdivision, and Aston Soil Works, Inc. has been employed to insure that each additional lot can have the capability of a primary and repair drain field, which is necessary to support a sanitary septic system. The soils were tested for their percolation properties throughout the respective site.
for 46 lot subdivision on 104.83 Acreage. 
The subdivision was originally approved for 41 lots. Phase I lots (13 lots) are recorded and ready to build. Phase II has been modified to yield 33 lots vs originally 28, by increasing the length of the cul-de-sac. The estimated cost for completing the remainder of Phase II is $78,000 by GHC. The subdivision now also has a permit for a boat ramp and the cost of the ramp amenity is estimated to be $16,000-$20,000.
Address: 7275 HWY 17, Vanceboro, NC
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