Location: Magnolia, DE
Community: 326 Active Adult Single Family Home Clubhouse Community
Average Sales Price: $334,000
Acquisition Date: 2005 and 2006
Exit: Direct Sales to Homeowners
Exit Date: Ongoing

Market Opportunity:
The community is convenient to Delaware’s state parks, beaches, and bay areas, and cultural activities in Wilmington, Dover, and the Brandywine Valley. Residents relocating from out-of-state benefit from Delaware’s lower taxes.

Investment Approach:
  • Purchased approved land from another developer.
  • Currently installing site improvements on a phased basis to have lots ready just-in-time to coincide with new home sales.
  • Sold and constructed homes.