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Originally Posted by SentToStud
$1,000,000,000
~ 200 Acres
= $5,000,000 / Acre
If you built 15 homes per acre, what would they go for there? $700,000?
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Your logic isn't that far off, but I think (a) the number of homes per acre is probably closer to 8 in that neighborhood, and (b) the price would probably be around $400k for your standard 3BR/2BA. There just isn't that much appeal or demand for Ozone Park, it's a long commute to the city and offers very little otherwise.