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Updated over 13 years ago,
Trying to comp building lots - HELP!
*** I posted this in the General Real Estate section, but I figured I may have better luck here.***
I'm currently looking at a 1 acre property with a subdivision possibility. On the property is a very beat-up, vacant old home that I'm not sure would be worth rehabbing. I'm basically looking at knocking the house down, subdividing, and then listing the 2 lots.
I'm trying to get an idea of what I can expect to get for each building lot when all is said and done, but I can't find any comps for raw land. I also tried Zillow searching for sold and currently for-sale lots, but only got two results within the same township and those lots are much larger than mine. I kept expanding the map and there aren't even any results in ANY neighboring townhips!
Does anyone have any tips on how I can valuate lots with no comps?