Orange County NC Website
Browse       Search
222 <br /> Comparable 3-Orange High School, Hillsborough, NC <br /> TWO <br /> y1 - OnGHG,fi6 J <br /> ? ROLU MA TTA DR <br /> LU <br /> ~� <br /> d <br /> y � <br /> z <br /> 0 <br /> - r <br /> x <br /> a <br /> ANTS RD <br /> Orange High School is located in close proximity to a number of residential homes including those <br /> in Burkes Meadow located just north of the High School. Homes in Burkes Meadow were built after <br /> the High School. <br /> I focused on one of the closest home sales to the school and sports fields which was 603 Harold <br /> Latta Drive. This 2-story brick home was built in 2000 with 3,318 s.f. with 4 bedrooms, 2 full <br /> bathrooms, one half bathroom, with a sunroom, and a 2-car garage. This home sold on September <br /> 26, 2013 for $335,000 with $10,000 in financing concessions, for an effective purchase price of <br /> $325,000, or$97.95 per s.f. <br /> Comparing this to similar homes sold in that time period in Burkes Meadows, but not near the <br /> school, I first considered 612 Lemontree Lane that sold on January 27, 2012 for $260,000 with a <br /> $3,000 concession for an adjusted sales price of$257,000 for this 2-story brick home with 3,000 s.f. <br /> and 2-car garage. This works out to $85.67 per s.f. Adjusting this upward by 6% for growth in the <br /> market over time that works out to $90.81 per s.f. This home actually sold for less than the home <br /> closer to the school. <br /> I also considered 604 Governor Drive that is in nearby Cameron Estates that sold on March 15, <br /> 2013 for $316,500 with a $2,700 financing concession for an effective purchase price of$313,800, <br /> or $95.64 per s.f. This was a 2-story brick dwelling with 3,281 s.f. and a 2 car garage. Adjusting <br /> this upward by 2% for time, the indicated value is $97.55 per s.f., which is very similar to the 603 <br /> Harold Latta Drive sales price. <br />