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Pepin DriveNewport City, VT 05855Price: $575,000

  • Price: $575,000
  • Est. Mortgage of $/month
  • 36 Days on Market
$
$
%
$/month over payments
Federal 30-year interest rate: 6.09% last updated on Feb 2, 2023
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $575,000List Price
  • 18.6Acreage
  • 810,216Square Feet

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Listed by Nicholas Maclure and Daniel Maclure of Century 21 Farm & Forest
Here is a wonderful opportunity to take over a pre-existing development. Mount Vernon Estates is Act 250 permitted for 48 units with 6 being completed and sold leaving 42 units to be developed. This site offers gorgeous westerly views of Lake Memphremagog, Downtown Newport, Jay Peak & Owls Head. It is an exceptional location being less than 1 mile to the Lake, Downtown Newport, Gardner Park, the Newport Country Club and so much more. The development has infrastructure in place including a town maintained paved road, public water & sewer, underground power, telephone and cable, and stormwater systems. Land Use & Water & Waste Water Permits are on file as are the all of the condo documents. Land is held in Common as part of the association. Property has frontage on Mt. Vernon, Pepin Drive, Fern St, Richards Drive, Weaver St, and the Glen Road. Road frontage listed is estimated. At $575K and 42 units remaining, you are looking at a purchase price under $14K per unit. Opportunities such as this are few and far between!

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Copyright 2023 New England Real Estate Network, Inc. All rights reserved. This display of listings may or may not be the entire Compilation from the NEREN database, and NEREN does not guarantee the accuracy of such information. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated February 9, 2023 3:23 AM EST.

 

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