Question About Subdivision Development Cost

[Tyler Mundy]

Hello, 

I have a potential deal in the works, but I need some rough numbers to know if it makes sense. A partner and I are looking to buy 8 acres of land for $300,000 in which we could put 15 lots. Not all of the land is developable, so the lots would be about 10,000sf each. This equals a cost of $20,000 per lot ($300,000/15 lots). 

My question is this: does anyone know what a rough "cost per lot" is to develop a subdivision to be ready to build on? (adding roads, legally dividing it, sidewalks, engineering costs, etc.) Is it $15,000, $30,000, $70,000? If I know this rough amount, it will help me to know if the deal is worth pursuing. I estimate that the lots are worth around $80,000+ once completed and ready to be built on.