Don't see how a road with 5 separate residence's can be considered a private road either. Does a school bus use this road or a fire truck? If so it's not a private road anymore. Whatever you do get a lawyer involved and make an agreement between all the homeowners. Also include in the agreement what happens if a person sells. Just having a friendly agreement leaves it open to a big fight between everybody.
When I bought my land, there was a road but the last 1/2 mile was only dirt to the dead end. I ended up having to put $1500 into upgrading the road. The owner beside me and the farmer on the other side also use this road but they didn't have to pay a dime. The new county manager at the time (he's since gone and the county is very happy) originally wanted me to put $3000 into the road and put in the footings for a shop. Then I could get $1500 back. I said what about the neighbor beside me and he said if they build on their property, they'll have to pay some for the road too. Yeah right, you're going to go to them and ask for money after the road has been upgraded. The head of public works even said I shouldn't have had to pay for a county road. When I went to the meeting about the road, it was very obvious that nobody else from the county dared say anything. I found out after that manager left that he was an absolute dictator ...hole and things were done his way or no way.