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What would be the resale potential? I gather the schools are good. There is one house (non basement being built) at 420+, couple of houses at 495+,595+ . Seems like these houses at its peak sold at 600+. I know those values never return. But wanted to know if buying low 400s is still a good buy. Not looking for a profit, but looking at re-sale potential and not loosing heavily
If so, the detached units in there have dropped significantly over the last 4-5 years. The mixed use/mixed design concept isn't unusual and in fact there are popular upper end (300K+) complexes like this. This is a desirable one as well. There is of course, a however....
Any buyer looking to spend 300K+ or so on a detached unit in a cluster mixed use community like this needs to understand that the attached units will likely cap the value of the detached units. These are designed for a target audience, most appeal is to older empty nesters and that type of buyer will also consider attached units.
These complexes typically have high HOA as landscaping, exterior maintenance, etc are usually included. I always counsel that if you're interested in something like this be certain to understand the pros and cons. There is an appeal but there are also unfinished communities and we have seen these types of units roll into foreclosure (and I've completed appraisals on them for lenders). It's almost as if builders saw a little interest and ended up flooding the market.