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Old 01-04-2021, 09:49 PM
Location: Gaston County, N.C.
159 posts, read 70,757 times
Reputation: 215


Appraisal riddle...

Several years ago, coming out of the recession, I picked up a vacant lot in a NC town as a cheap gamble. I never got around to clearing and building there, since I had other priorities with my rentals and my personal residence. The taxes were low to hold it, so ... no rush.

I just learned there will be a greenway extension in that neighborhood, the new entrance would be about 1200 feet away. Not super close, but not a stretch either to advertise the property as "near the greenway" when I finally develop it.

I'm just curious if anyone has done some paired sales analysis locally, to see how far from a greenway entrance makes a difference in value?

I would think most people would see that as a nice amenity. Although I could also imagine an entrance immediately adjacent to a property could be a negative, with it inviting so many strangers to walk nearby.
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Old 01-08-2021, 04:23 PM
Location: Beautiful and sanitary DC
1,761 posts, read 2,474,680 times
Reputation: 1954
Most surveys show a small premium, but more so in more urban areas.

Most of the research is older and survey-based, since there was a lot of worry in the 1990s that trails would lower property values. But recent surveys of homebuyers consistently find that trails are among the most popular amenities that homebuyers want nearby.
3 Community Amenities That Top All Home Buyers' Wish Lists | NAHB Now | The News Blog of the National Association of Home Builders
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