|Comparable recent sales for land value estimates:
Directly across the street in June 2005, a 4.96 acre parcel of vacant land sold for $1,700,000. This property abuts Interstate 4 and is less desirable than Santolina.
[VALUE $342,742 PER ACRE]
Less than a mile north in October 2006, a 2.92 acre parcel on Markham Woods Road with a house sold for $1,400,000.
[VALUE $479,452 PER ACRE]
About a mile north, on the east edge of the Markham Woods corridor, in December 2004, a 4.3 acre parcel of vacant land sold for $7,701,300. This property abuts Interstate 4.
Immediately to the south, on Markham Woods Road, our neighbor recently sold under "must sell" circumstances, his 1.92 acre parcel with a house (to be demolished) under market value, for $530,000. It is being replaced with a home costing over 2 million dollars. Click here for photos.
[VALUE $276,042 PER ACRE]
A little over one mile north on the west edge of the Markham Woods corridor, in May 2007, a 5.75 acre parcel with a house sold as is for $1,390,000.
[VALUE $241,739 PER ACRE]
A little over one mile north on Markham Woods Road in December 2004, a 1.80 acre parcel with a house sold for $985,000.
[VALUE $547,222 PER ACRE]
The county tax rolls state a depreciated building value of our house at $298,000. These values are generally 20-30% under market value. Using that estimate, the depreciated building value of our house is approximately 30% as it stands today without considering all of the extra upgrades added to the land. For detail of those upgrades, valued conservatively at $65,000, see our Property Amenities Sheet. The land value alone, based on the comparables, is worth between $625,000 – $1,000,000.
At more than 2.6 acres of land including home, buildings, amenities and mature landscaping, Santolina is an exceptional deal, for sale by owner and priced well below its maximum fair market value at $1,250,000.
For more information on the villa Santolina or to schedule a private showing please contact: