392 SECOND STREET, Strathroy-Caradoc (NE)

$3,450,000

For sale: Vacant Land

Vacant Land at 392 SECOND STREET, Strathroy-Caradoc (NE)
Property type
Land
MLS®
MLS® X13859276
Neighbourhood
NE

An exceptional opportunity for builders, developers, or investors to acquire a 1.62-acre residential lot in Strathroy-Caradoc now zoned R3-14-H2. The property has a recently approved minor variance for a 3-storey, 63-unit residential building, plus a conditional draft site plan agreement and architectural drawings for a 3 storey 48 unit residential building, which can shorten the path to construction. In the meantime, the property generates income from an existing 2,000 sq. ft. ranch-style bungalow, currently tenanted. This is a rare property in a growing Southwestern Ontario market, about 35 km west of London with convenient access to Highway 402, directly across from Strathroy District Collegiate Institute, Holy Cross Catholic Secondary School and Gemini Sportsplex.

Sold data

Homes in Strathroy-Caradoc (NE) — recent sold market

Homes in Strathroy-Caradoc (NE) took a median of 29 days to sell over the last 90 days, with the quickest quarter selling within 11 days and the slowest quarter taking more than 66, across 85 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 55 days.

The median sale price was $578,000.

Homes sold for about 2.4% below asking on average, so there was room to negotiate.

About 11% of sales closed above the list price.

Around 21% of sellers reduced their price before finding a buyer.

Median days to sell
29
Median sale price
$578,000
Sale-to-list ratio
97.6%
Sold above asking
11%

Based on 85 recorded sales in the last 90 days — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Currently for sale

Homes for sale near 392 SECOND STREET